That’s the tag line I use for my planned or unplanned talks 😀
Money is a COMMON commodity but for the majority, it is the not so commonly found uncommon sense that makes it difficult to handle it 🤷🏼♂
There are just 5 to 6 basic principles that have to be followed yet, I see most can’t.follow them.
Yes, some do know these principles & also understand them. The issue is, even these people are unable to execute these principles in a way which is in sync with their life.
People might create assets but they miss Liquidity (real estate)
People might create Liquidity but miss accumulating productive Assets (everything in cash/low rate deposit)
People might think – higher the risk, higher the return – No, it doesn’t work that way(the greatest myth of all time)
People might assume that they are money comfortable, until the Risk hits them & places them in an extremely uncomfortable situation(they have no clue on what they’ve done for themselves)
People might think mighty of themselves in handling their money but, when you dig a bit underneath the surface; you can see how shallow their money principles are (the eye is always on what others are doing)
People have an uncanny ability to point at others’ shortfalls in money management but are completely ignorant of their own incompetencies in handling the same (else they would have created wealth already)
People have the greatest ability to believe, follow & execute an influencer’s word; who they haven’t met or spoken to ever in their life – but they conveniently ignore a well-wisher ‘s word who’s standing in their front yard shielding them from destroying themselves (some star in the night sky looks better than our daily SUN ensuring our health)
People run through FOMO (fear of missing out), FOBO (fear of a better option) & FOSO (fear of starting out) emotions all the time with their MONEY issues, yet they just don’t Accept this reality in their life(fear, greed, ego, lacking knowledge & wisdom, easily carried away by others etc.)
If everyone was so good at handling their money, they wouldn’t be in a situation where they are today (bad & or ugly)
7 th grade math
Understanding Compounding
Managing Risk
Ensuring Liquidity
Adequate Diversification
👆🏼Some very basic principles to manage money in a sensible way
The issue is, this sense is so UNCOMMON these days 🙏🏻