If you work without rest and sleep and spend money only on the essentials, but still can’t achieve a high income, you may be doing something wrong. For example, you are trusting financial myths that are preventing you from increasing your income. We’ve taken apart some of the most common and silly misconceptions.
1. “You can’t make a lot of money honestly.”
We are used to the fact that in certain spheres they do not work in the most honest ways. And news about the latest financial machinations of millionaires, though angry, does not surprise us at all. Many of us, especially people of the older generation, are used to thinking that only unscrupulous people with no knowledge of tax preparation cost in 2021 come to wealth, while simple and honest working people are as if not allowed.
Honest work and competence in making money are far more important than any cunning and powerful patrons. After all, useful connections can be interrupted, but great experience and the ability to adapt quickly to new conditions cannot be taken away.
2. “Investments are too complicated and risky, and it’s a scam in general.”
Until financial literacy is taught in school, like mathematics, most people will be suspicious of investments. It is often associated either with fraud or with the mysterious world of Wall Street, where the bigwigs of the stock market run everything.
Investments as a way to increase income can be risky – if you act at random. But it’s real to understand, even if you’re far removed from the world of finance.
3. “Money to Money: You Need Startup Capital for Wealth”
This myth is especially alive in the heads of people who dreamed of their own business but did not start it. There are many reasons for refusing to go into business. And one of them, logical at first glance, is the lack of money to start a business. But this problem, firstly, solvable, and secondly, not the most important.
If you want to work for yourself and do it according to the law, you will certainly need the initial capital. But even more important is a whole set of factors. These are, for example, a sought-after idea that solves a particular problem, a sound business mind – what is called business acumen, a reliable team, and a carefully drawn-up financial plan. And money can be found: banks and government institutions offer various measures to support aspiring entrepreneurs.
4. “I don’t have a monetary profession.”
You don’t need a degree in economics or finance to make a lot of money. You do not have to be a programmer or a show business star either. After all, the profession does not play a key role. And it can not be an obstacle on the way to a high income.
Other things are important: at least basic business skills and the ability to manage money. It’s okay to realize that you lack knowledge. Educational programs and thematic courses can help you not only to improve your professional skills but also to gain new knowledge.
5. “I don’t have the personal qualities needed for wealth.”
The most difficult factor to face is your internal resistance and lack of confidence in your abilities. Not smart enough, not talented enough, not a good enough-the list of what you are supposedly lacking is endless.
In reality, there are no personal qualities that make it possible to earn a high income and a life without poverty. What’s important is the desire to get rich, the knowledge, and the willingness to act. It is perfectly normal to want to change your life, increase your wealth, and improve your financial situation. Being afraid to act, not striving to develop to earn more, to consider oneself unworthy is not normal. Don’t get confused.