Investing can feel like a foreign concept…
The term “investing” may carry a negative weight with many since from a young age we are taught that money is the “root of all evil” We’re shown in movies and television shows that the guy with a lot of money is usually a bad dude. In school, we aren’t taught how to invest for our future. We aren’t taught the meaning of financial independence…and I think that is just awful. We grow up with a “debt mindset” meaning that many of us are more comfortable with the idea of being in debt than with the idea of being wealthy.
So, how do we change this in ourselves? First, you must understand that being rich and being wealthy are not the same thing. They’re often confused as being interchangeable, but one denotes monetary and materialistic status while the other marks financial freedom. You can be wealthy without being rich and that is something you should strive for. Being wealthy means having enough of an income to support your family, your hobbies, and have free time and money to spare.
Let’s emphasize the “free time and money to spare” part. With most jobs out there, you trade your time for money on a one to one basis. You trade one unit of effort for one unit of pay and that is that…but what if you could be paid multiple times for your one unit of effort? This concept is known as “passive income” and it is a large stepping stone to financial freedom. You have to think like this: “Can doing this job continue to pay me for months and years to come with minimal upkeep”? The goal is to invest your time and money into activities that pay back in dividends.
There was a book I had read that really helped me get into the “wealthy mindset” and I really recommend it to anyone looking to get out of debt and stay out of debt. It’s called Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth. You can check out reviews of it on Amazon (it has over 1,000 with over 70% that are 5-star reviews).
Take a look at the reviews, they’re mostly positive. If you can’t afford to buy the book now, try checking your local library. I bought a copy that sits on the shelf next to my computer and I go back and read it from time to time.
Make sure to check back with StudentAidStruggle.com once in a while as I’ll be posting more on the subject of investing in the future. Also, feel free to post your comments and opinions below and I’ll get to them as soon as I possibly can.
Thanks for visiting,