Money and the Fear of not Having Money.

To many people, money is a very important thing. Yet, they fail to understand it, and constantly make poor financial decisions due to fear and greed.

Some are self-deluded and seek to live a lavish lifestyle or seek instant gratification. Others try to fall into get-rich schemes or lose huge amounts of money through speculation on the stock markets due to greed.

Many poor people live in fear of losing their jobs and are afraid that they are not able to pay off their mortgage especially during a time of recession.

Financial literacy is important. Being financially disciplined is important. It involves setting goals. There is no quick way of getting rich. There are three things that I would like to mention,

1. Control Spending
As mentioned about instant gratification, many people do not plan a budget and spend excessively with a consumerism mindset. Many even get into debts by swiping their credit cards.

2. Invest in Assets
Assets are things that generate income, eg stocks that pay off dividends.

3. Generate Alternative Sources of Income
This will require creativity by thinking of business ideas, or writing books etc.

Recommended Reading
Rich Dad Poor Dad
4-Hour Workweek.