Personal Finance

Why Is Earning Money A Challenging Task?

Image Credits: pixabay.com (CC0 Public Domain)

COMMON REASONS FOR DIFFICULTY

1. FEELINGS OF INADEQUACY

The feelings of unworthiness and incompetence can drag many people away from accomplishments. If your mental dialogue focuses on these things then it can result to low self-esteem, lack of enthusiasm, and lack of creativity. No matter how much you want to succeed, these results can make you unsuccessful at work.

Your mental dialogue affects your behavior.

2. NEGATIVE ASSOCIATION

Money has been portrayed in media as a currency that most people fight for. Whether the news showcases a bank robbery or criminal dealings, the world has seen how money can make people “bad”. As the saying goes: “Money is the root of all evil.” This negative association fed by the environment is stored in our unconscious mind. If it is something undesirable, your unconscious mind is bound to “protect” you from it.

Hence, the negative association can affect how we deal with money.

3. FINANCIAL FEARS

Most of us are overwhelmed with a certain financial fear. Some of us may take the conscious effort to resolve it. However, many of us do not take the necessary steps to overcome it. They simply allow the financial dilemma to drive their life choices.

Know if any of these fears consume you (click here).

4. THE COMPETITION

One the higher end of the spectrum are the people who earn millions of dollars each year. Sam Wilkin, economist and author of Wealth Secrets of the One Percent, says it is difficult to be as rich as them because of the competition that is present in an open free market economy. Much like United States, Singapore has a highly developed and prosperous free-market economy.

There is a possibility to become immensely rich but you will have to dedicate your life to high-risks and high-return strategies.

STEPS TO TAKE

1. DO NOT FOCUS ON MONEY ALONE

If you take money as your primary motivation to work then, you will be depressed when it is gone or not enough. Focus on the reasons why you earn rather than how much you earn.

2. LOVE WHAT YOU ARE DOING

If you love your job then you will have a positive association with money and occupation. You will find fulfillment in your passion even if you have a relatively small income and long working hours.

3. MANAGE YOUR MONEY

You shall have control over your money and not the other way around. Be wise in saving, spending, budgeting, or opening a business. Instead of a shopping list, make a list on how you can grow your wealth.

Image Credits: pixabay.com (CC0 Public Domain)

Image Credits: pixabay.com (CC0 Public Domain)

Sources: 1,  2, & 3

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