Before you become all biased with the heading of this article and start hating me a little, let me clarify at the onset that why I can tell you the reasons for not having money is because I have been there myself. I have been unemployed in various phases of my life, have been confused and have been broke myself when I barely got by month after month. Hence I know the feeling and have learnt in my journey the reasons why we never manage to have enough money. Today I want to talk about what can be done to wriggle out of this ‘always-broke’ phenomenon. Because I myself did so.
When I talk about the reasons why you don’t have money, I don’t really refer to that percentage of population who are below the poverty line, not being able to get a square meal a day. I am not here to talk about macro reasons of unemployment and poverty. I am more concerned about the large chunk of the middle class, who are working but never have enough money and always end up living paycheck by paycheck, struggling to make ends meet every month.
Reason 1: Living with parents
One of the primary reasons why the average Indian does not make money is because they live with their parents. If you want to make real money you need to shift from staying with your parents to somewhere where there are more opportunities. Please realize you are not saving money by staying with your father, what you are doing is missing great opportunities. My life changed because I decided to move out from the village where my home was.
Reason 2: Economic illiteracy
The second reason why you do not have money is because you are economically illiterate. You might have been good in college and know all the basic economic terms but think about it…are you really economically literate? What we always learn is household management of resources and expenses. But real economic literacy means knowing how to make money by understanding the market place and playing offense there. Shifting from the ‘saving’ mode to the ‘income’ mode.
Reason 3: Politician Dependency
The belief that a good and effective politician will create employment and growth and revive the business atmosphere so that you earn more, etc are concepts that have been tried and tested, and ofcourse failed, in the last five decades. If the government could create million jobs as they always promise, they would have done so already. It’s just not possible since they are not job creators. It is the entrepreneur’s job. The onus of doing well in life lies on you, not on a politician.
Reason 4: Apathy towards finances
Another reason why people do not have money is because of the apathy that they possess towards finances, for which they stop looking at it altogether. Please remember, you cannot make money if you stop looking at it. Stopping to pay attention to a problem doesn’t make it disappear. You need to take stock of your finances regularly and strategize.
Reason 5: Job profile Issues
One of the main reasons why we do not have money is because we are unwilling to do jobs that nobody wants to do. Everybody wants to be the CEO or the manager. But what about the salesman? The reason I am where I am today is because I was a seller, a job that nobody really wants. I sold loans and became bigger than my employer itself. Success is not always about aiming for a higher role but doing the best that is possible in lesser roles which other people shirk away from.
Your financial recovery process starts from accepting that you have a problem and setting off to rectify it. The fact that you are better off than many others or the fact that you are working 95 hours a week, etc are useless and should be wringed out from one’s mind. You need to discard the ‘saving’ mentality and start building up on the ‘income’ aspect of it all and spend whatever it takes to get your financial life in order. Lastly, it can be said that money is not everything and doesn’t guarantee happiness, but that is not an excuse to not have money. The absence of it can wreck havoc and is the prime reason for most of the unhappiness and distress of the world. My motto? Make money. Start living. Be Happy.