If you contemplated enough on the discussions of the previous chapters, you would have already discerned by now that partly, people are being scammed because it also happens to be their fault too. Many people have the wrong attitude about money and that’s the reason why most of us are failing miserably when it comes to money-making.
Maybe you’re someone who’s been scammed already in the past, or maybe you’re someone who’s doing your best to avoid such a truly gruesome scenario. Either way, let’s delve into some keypoints that can prevent us from falling into the traps laid out by scammers.
Here are the best points that you should really be putting to mind… so you can have the strength and willpower to avoid scams.
Play the long game.
This is supposed to be the most important motto of all. Sadly though, this is often the most overlooked. The very reason why most of us don’t get rich, or why so many are quitting already before we make it even just halfway through success is that most of us are impatient. We want things to be quick, we want things to be easy.
But if we’re going to look at the lives of any rich person we can think of, a great majority of them have worked their way to the top really hard. If we read the life story of Bill Gates, who was never removed from the top ten richest people in the world for the past decade, we can get to see that the wealth he’s having is due to his ruthlessness in being the chairman of the biggest software manufacturer in the world.
Of course, he didn’t transform his company overnight. It took him decades of hard work to finally etch his company Microsoft on top of the software-manufacturing game. The company was founded during the mid-70s, but it was only during the mid-90s when Gates was declared as one of the wealthiest people in the world.
It would take him a few years more before he would be declared as one of the richest persons of all time. Now in his elder years, He is still doing huge amounts of work to maintain his company’s renown. Although he is no longer that active compared to his younger years, he still has the mindset in him, that playing the long game is the best kind of mindset that any rich, or rich-to-be person.
To persevere with the hardships ahead, and to truly succeed in your goal for financial freedom, have the patience and courage to wait. Success in any imaginable category is a long process and there are absolutely no shortcuts for it.
Personify the attitude of being rich.
When his former associates were asked about what they can say about Michael Jordan, a lot of them has this to say, that the superstar athlete was often the “first to arrive, last to leave” member of the team. This makes it clear that the reason why Jordan became the most celebrated basketball player of all time is due to his attitude, not because he’s a natural-born genius.
Of course, Jordan is more notable for being a sportsman, not as a rich man. But what we can learn from his story is that the skills that make him very rich aren’t something that he bought and paid for, it is in the very essence of hard work and persistence.
We can have the understanding that since he gets early in the gym and seems to leave last, then he has really the habit of practicing really hard. It’s his most potent weapon, his greatest asset, his ultimate ticket to fame and riches. He lives and breathes basketball in his daily life, and it took him a long time to be in that position.
If we are going to ask the likes of Warren Buffet, Jeff Bezos, and other billionaires out there, we can be pretty sure that the concept remains the same: becoming either rich or successful is about personifying the attitude of being rich, and having the right mindset that should go along with it.
You can’t start a make a product, start a business, earn some income, then stop and rest. To make your success truly sustainable, you have to maintain the notoriety you attained through re-learning, and putting in more hard work.
In addition to the previous item, bear in mind that the road to riches is an ever, ongoing journey. It takes time to build it up, and you can’t attain the success you’re aiming for if there are no failures that are waiting for you on the road ahead.
Focus on scalable streams of income.
Another reason why many of us are not getting rich is we are not putting our assets in scalable situations. For instance, most of us are getting paid for the hourly work that we’re doing. This means that the income we’re getting is predetermined already. If we keep on doing the same thing for many years, then it is very unlikely that we won’t be getting any richer at all.
But if we do things that can make us earn passively then it would be so much better. For instance, instead of getting paid per hour lecturing people, you could put up your lecture online or through a webinar, in which there are no limits to the number of people you can reach.
If you are a performer, you can choose to sing or dance through video, then upload it into your YouTube channel. In that way, you can make money while doing other things, or even while you sleep. If you’re into investing or trading, you can invest on Forex, the Stock Market, or Cryptocurrency. With such things, you can increase your income while just armed with your laptop or your phone.
But then, even such methods require lots of time to truly master. You still need to put in a lot of time for research, practice and improve on your methods. But the main point here is that to truly increase your income, don’t settle for just earning on your day job.
Invest somewhere else where your money can grow even if you’re not doing anything at the moment – although you need to remember always that there must be a great amount of work to be done before actually getting to that phase.
Balance the habit of spending and earning properly.
Are those super-rich businessmen and celebrities spending millions regularly? Yes, that’s what they do, after all, what else would they do with all that money. But are they really spending amounts that huge all the time? Not likely.
Here’s one thing that you have to bear in mind. Why they became one of the richest beings to ever walk the earth is the fact that they are actually spending less and less… than what they’re actually earning. That’s the reality that most of us are not comprehending.
So many working-class people are not getting better with their finances because they are spending more than they earn. This is a very basic lesson, but one that most of us are always failing at. Sure, the likes of Elon Musk and Larry Ellison are spending millions of dollars periodically, but they are always making sure that those millions are gaining more millions – it’s the reason why their money never runs out.
So to make the most out of the few hundred bucks that you have, make sure that you are perfecting the habit of spending and earning perfectly. In that way, you are already a rich guy in the making or one who feels like a rich person all the time… because you are never broke and in-debt in most the days of your life.
I couldn't agree with you more, but I'd add just one more point: multiple sources of income!