I want to share with you the story of Ahmed. Ahmed was promised at a young age by his parents to study for 12 years of school and then four years in college and get a job to earn money. His parents told him that this was the only way for him to make money.
Ahmed grows up focusing on his studies earning high grades, and not focusing on life skills that he needs to develop, like his communication skills. And along the way, he forgot to find other ways to earn money.
He did not open his mind to different ways of making money. He linked earning money with having a job. Unfortunately, Ahmed, crushed into the reality of life, realizing that he limited his mind around money and missed developing his other skills.
Many of us are still figuring out how to deal with money. And stumbling around money mistakes and find it hard to understand money. In this article, I will talk about the concept of money. I will also discuss money topics to enhance our understanding of money and improve our relationship with it.
Please remember that what I will share with you is based on my learning and experience, and you will have to see what best works for you.
With that, let us jump into our article.
What is Money?
Money is an item/tool to exchange with something of value. And this is one of the keys to understand money because many people think that money is an end goal.
They are making money control their life rather than using money to improve their lives and enhance their choices. Money is a tool to reach our goals.
Suppose you want to travel, you will need money to finance your trip. Money does not buy us happiness, but it is a tool to help us be happy, like having a home that makes us feel safe, buying things that we desire, or eating the food we want.
Money determines part of our value in today’s society. As with any other thing, people judge us: like the school we graduated from, our family status, where we are from, or who we are.
However, we are more than our money, and although this sounds cliche. We are our personalities, souls, good deeds, what we like and don’t like, and much more. Money doesn’t have value unless we use it or need it, as with the example of owning a home or traveling.
Therefore the first lesson here is to understand that money is a tool that helps us reach our goals rather than an end goal in itself. This understanding will help us make money work for us rather than working for money.
Someone makes sure their money increases and does not use it. Therefore, he works for his money. Versus someone else that makes sure that they use their money to better their life and themselves. Therefore their money works for them.
2. Can we live without money?
Think about people in previous times and ages, how they lived in caves and used trees to build their homes. Went fishing and hunting for their food.
Did they say that they need money to live? Of course not; they depended on themself for their living.
In today’s world and age, it is different. You can not do what others used to do in the past. But understanding this concept will empower you not to make your life depend on money.
Yeah, I know I am extravagating here, but the point is don’t let money be a condition to live your life.
If you can’t go to that place, check it on the internet.
If you can’t have that food, imagine how it tastes.
If you can’t buy that car, ask for a trial at the showroom.
Don’t make your life depend on money. Don’t be attached because this will disempower you and make you live in fear rather than feeling empowered.
It will prevent you from being creative with your life and find other ways to live if you don’t have money. The lesson here is to believe that you can live without money.
This mindset will improve your confidence and attitude toward money rather than worrying about every instance you lose money or miss opportunities. And will make you more relaxed and creative in finding ways to earn money because you seek it from a place of power rather than fear.
3. Is money important?
In today’s days and age, it’s essential to have money and earn it. With money, you can buy the home you want, acquire the things you have, and have the freedom to do something that otherwise can’t be done without money.
People travel to other places, leave their families to find a source of living, and earn money. It’s the thing that can give us comfort in life. But again, it’s a tool and not an end goal. One thing to note here, if you have everything giving to you and taken care of, you may not value money. You will take what you have for granted instead of utilizing it wisely.
The lesson here is to reflect on the value of money and how it can impact your life. It is not an attachment but having the realization of its importance in your life.
This understanding will lead you to utilize it better. And not waste it on things that don’t give value. And when you are grateful, you will work on utilizing what you have wisely rather than put it to no use.
It is vital to appreciate what you have before you earn more of it and improve it. Because again, if you do not appreciate what you have and be grateful for it, how do you expect to earn more?
4. How to weigh money to other elements in life?
The key here is to have balance in your relationship with money. Money is essential for our living, but other things are crucial as well.
We are the ones who earn money. Our time and skills allow us to make money. Therefore, When we improve ourselves, we can achieve more. It is about remembering how other factors help you earn money and change your life.
With that, you will have the balance of how you use your time against money and how you spend money to improve yourself, and so on.
Money is important, but we need to consider other factors that help us earn money and impact our lives.
5. Is money limited in life?
Money is available everywhere as long as someone needs something of value. It’s governed by the supply and demand concept.
Suppose you are in an area that people like eating fish. If you go fishing, you may get money in exchange for the fish you have.
Suppose people need someone to clean their cars, well you will gain money in exchange for cleaning others cars.
And in the opposite, if you are a doctor in an area where people don’t get sick, you will have to go somewhere else because this area doesn’t need doctors.
One thing to note here is that our mindset about money opportunities may define our relationship with money.
If you believe that the opportunities for gaining money are limited, this belief may lead you to live in a scarcity mindset.
You will hold to the source you know of earning money and will not seek other sources of making money.
The lesson here is to understand that money is available as long as people need something of value, and you can earn money as long as you can fulfill that value.
6. Is money a bad thing?
Money is a tool like any other tool we have. Similar to the internet, social media, and so on. It’s what we do with it that makes the difference is not the money its self.
If you use the money to help others, support your family, then the money is the source for good.
And the same if you do the opposite.
Suppose you think money is an evil thing or it’s wrong to have more money; you will act on that and avoid having or seeking more money.
And even if you have money, you will find ways to waste or throw it out because you have a negative association with money. The lesson here is to improve your perception of money.
Understanding that money can empower you to fulfill your needs and find ways to help others.
7. Is money only mere luck, or can you do something about it?
Yes, some people grow up in wealthy families and have everything giving to them. But think about the people who started like you improved their lives and their finances.
Is it all about luck?
Or did they work hard and try to find ways to improve their lives and earn more.
This understanding can show us the contrasts between the two beliefs.
If you believe that money is merely out of luck and nothing you can do about it, you will not find ways to earn money or improve your life. You always wait for the lottery that may give one day luck.
However, if you believe in the opposite that you can change your life and improve your situation, you will work hard to improve your situation and find other ways to earn.
The lesson here is for you to choose how you want to believe, and from there, this may change your perception about money and improve it.
8. Does money grow on its own?
If you have 100 dollars and use it, do you think there will be another 100 dollars in your pocket? Of course not. Money does not grow on its own.
We need to make it grow by investment. Investment is a widely used term, and people are only associated with buying stocks or real estate.
But how about investing in yourself?
It is also a way of growing money because you will be better at making money when you improve your skills or yourself.
Whoever will hire you will have to pay according to what you have of skills and knowledge.
Opening a business is an investment for your money because it involves making your money work to grow.
Learning about personal finance and the skills of saving, investing, and using money is also an investment that will lead you to use money in a better way.
Some people consider doing charity as an investment. The lesson here is to remember that money will not grow on its own.
You will have to grow money by investing in yourself, improving your skills to earn money, improving your mindset to find opportunities, opening a business, or finding other investments.