The Wrong Things That Your Parents Taught You About Money

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1. Saving for a rainy day. That was a hugely popular mantra back in the day. Saving for a rainy day was a presumption that there was going to be hard times in your economic life. But when is a rainy day? How do you save if every day you are struggling? That’s why you need to spend in an investment rather than saving for that rainy day. You need to spend right now, in order to invest in that way, because if there’s a rainy day and you haven’t invested, you have no way of making money, and your savings will run out. Investing gives you money coming in during the rainy days.

2. You need to get a job to get money. Charlize Theron worked before she became a movie star. After going to the national Johannesburg Shool of Arts, she became a model. That brought her to Milan, where she became known as an entertainer. This paid for her to move to the United States. She was told to just get a job at one stage, and nothing happened. Nothing happened until she took a chance on something else.

3. You need to be highly educated to get money. Education is wonderful, but you can learn the same things online now. You don’t need big degrees to learn how to start your own company or get money.

4. You need to get a pension. But what if you don’t have money enough to actually invest in a pension? You don’t necessarily need a pension if you do other things, like take everything you were told by your parents with a pinch of salt, because the world has changed.

5. You should always save every week. But if you’re not getting the income, how can you save every week? You have to look at other people and what they did, and why it was that they could actually get by and then become famous from nothing. Even if you only work half-time, the reality is you have plenty of time to plan and to ponder about what you really need to do for the big picture.

6. You need to have a job before you leave one. Just leave the damn job if you don’t want to be in it. If it’s killing your spirit, wrecking your energy, ruining you and stopping you from clearly looking at things, leave the job.

7. You should never waste money. But you need to travel, you need to grow as a person. You can avoid wasting money by investing in people.

Listen to your parents, take the wisdom. But remember it’s your life. You have to make those choices one step at a time.

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