Have you ever seen the people who don’t have enough money at the end of the month? Their problem is not having less income, it is having less money management. In this article, you’ll learn why money management is more important than your in come for becoming rich.
Is our income less? Or do we have problem in money management?
The problemof not having enough money at the end of the month was mentioned as an examplefor a weakness in money management. If you think about this example, you shouldremember that some of your friends and families with different incomes do nothave enough money at the end of the month. So, as noted, this problem is notrelated to the amount of income. It is related to the money management.
Of courseyou see wealthy families that when the wealth transferred to the child’sfamily, after a while all the wealth would be disappeared. In these cases,people say that he destroys the wealth of the family. Yes, weakness infinancial management can even destroy a lot of wealth. Usually people whoachieve wealth and stay wealthy will manage their money well and poor peoplecannot manage their money.
ThomasStanley, by searching about American’s rich people, realized that they areskilled in managing their money, they can do it well. The wealthy are notbasically smarter than the poor, they only know how to manage their money.
Some peoplelearn this skill in their childhood, but if you do not know how to manage your money,your mental planning in childhood was not correct, and you didn’t have theopportunity to learn it until now. It’s better for you to know that the biggestdifference between being successful and not being successful is: how do youmanage your money? Of course, many people run away from money management.
Why don’tmany people like to manage money?
Many peopledo not like to manage their money at all. They even clearly express it. What istheir reason to run away from money management?
Freedom will be limited
In responseto the friends who think that money management limits their freedom, it must besaid:” my dear friend it is completely the opposite.” It means that moneymanagement never limits your freedom and make you freer. Of course, thisfreedom does not mean spending more money.
When youmanage your money, you gain financial independence. This financial independencebrings you to a situation that you don’t need to work anymore for earningmoney. Which one do you prefer now? Do you prefer to run away from money managementor work to make money? Or to learn money management and achieve a level offinancial independency that you don’t need to work anymore for earning money?Anyway, it’s your choice.
Having not enough money for money management
If we asksome people, why don’t you manage your money? Their answer is: “How muchmoney do we have to manage it?” You need to have enough money to manageit. “Is this idea really true?
In responseto these friends, you should say:” getthe wrong end of the stick.” It means that firstly you have to manage your money correctly (even verylittle) to achieve more money. In fact, money management is the way to achievea lot of money. But you think the opposite. You expect to get a lot of money atfirst and then manage it. Even if you get a lot of money, but you do not knowhow to manage, you can easily lose all of it.
When we say:“First I have to get a lot of money, then manage it” is like saying:“As soon as I lose weight, I start exercising and taking a diet.”Naturally, with such an idea, you will never be able to lose weight. Likewise,you never get a lot of money to manage it. In fact, with this way of thinking,you will never get rich.
The law ofthe world is as follows: First, show you can keep whatever you have, then youcan get more. Managing money, even if there is very little, will help you keepit. So try to manage your money to keep it well, then make sure you will getmore.
Without the money management, the poor will stay poor, the rich will become poor
Poor people thinkthat everything is their income. They believe that they must earn wealth to berich. This method does not work. Think of another way!
The fact isthat if you manage your money badly, even if you have a large income, youcannot get financial independence. That’s why even people with high-income usuallygo bankrupt. Because the issue is not how much you earn money, but it is whatyou are doing with what you earn.
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