Money is your friend, not an enemy

Money is your friend, not an enemy

by Roman on May 31, 2008

This is INSIGHT 7 from a set of rules about how to get rich

Writing new posts and articles to FinancialJesus.com makes me constantly re-evaluate my beliefs about money.

One thing I have realized is that whoever you are and whatever you do – there is no escape from money. Everyone has credit cards, bank accounts and even loans.

We deal with money every day

Almost every person on this planet has to deal with money on a daily basis. So why are some people well off and other people not?

It’s because for some people money is an enemy and for others it is a friend.

Money as an Enemy

Money has no feelings. This means that whether money is your friend or enemy is entirely up to you.

The people who have trouble with credit cards and who spend way more than they can afford are not friends with money. In fact – for them money is an enemy. The more money these people have the more problems they will get into.

Make money your friend

If you are one of those people who have constant trouble with money you should take action to make money your friend.

You should understand this

It is not money that controls you, but it is you who has the power to control money.

Changing the relationship between you and money can be the start of your first million.

Take your life into your hands

If you are serious enough and want to get rich, then deciding do become rich is the first and single most important thing that you need to do.

Everything that comes after that is still going to be difficult but it wouldn’t be there if you hadn’t decided to become successful in the first place.

Develop entrepreneurial thinking

Changing the way we think about money can be difficult. A good way to start is to think about the everyday things you do and how much money they will make for someone else.

Example 1

If you drive to work every day and need to pay 1 dollar at the toll booth you can do a fast calculation in your head. Lets say you estimate that 50 cars drive through the toll in a minute. This means that it makes someone $50 in a minute or $3000 an hour. That’s $77 000 a day (minus expenses).

Example 2

Lets say that you have lunch at McDonalds every day (this is America after all :lol: ). You can count the number of people in the restaurant, make an estimate about their daily visitors and calculate their approximate daily cash flow. After a little practice you can probably have a pretty educated guess about their profit as well.

These mental calculations can at times be rather far off from what a company is actually making but the more you practice the better you get. Eventually you will be able to spot good money making opportunities in minutes.

Keep your eyes open

Always be on the look out for ideas that you have not seen before. That’s the main reason I like traveling – You get to see a lot of new things that someone is successfully using to make themselves some money. Whenever I see a business like that, I automatically calculate how much it roughly makes! I recommend you do the same.

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{ 3 comments }

Adam Primero June 1, 2008 at 7:55 am

Hey Roman, (America?) I thought you where in, well anyway.
I was taught by a very wise man to look at money as a tool. You can look at life as a project, and with out the tools you can not get much done. Your previous post on your beliefs of money, is where people get confused about its true worth( I don’t mean $ either).

If you want to help a 1000 people that are starving, using money would be a very good “tool” to that end.

As always Roman, you have made me think, for this, I salute you.

Roman June 1, 2008 at 1:28 pm

Yeah, I’m in Estonia, but the majority of the readers here in Financial Jesus are from the States!

Looking money as a tool is a good idea. After all, it only has value if you use it for something!

Partha Gupta September 24, 2008 at 10:08 pm

Dear friend

Your comments made me think differently about money. But the fact is if one can use money judiciously it can result in some extra money. It is good to have new ideas.
Best wishes
Partha

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