Learn about Money to become Rich

The Story

It was not long ago, I and my friend got together over lunch and started talking about each other's lives. The conversation went from how well you are doing in life to an envious comparison of life our life vs how millionaire lives a lavish life. In the middle of the discussion, he told me an intriguing rather shocking story of one of the most successful Hollywood star, Nicolas Cage.

Nicolas Cage been part of several famous movies including ‘Gone in 60 seconds”,"Ghost Rider" and “National Treasure”. At the top of his profession, he was approximately making around $20 million apiece for his appearance. He is estimated to have earned around $150 million in peak days of his career.

According to CNBC, the famous star owned supercars, a private jet, exotic real estate including an island. While all these seem like a dream come true, his spending habits dug him huge a pit of financial troubles. While he got out of trouble with his hard work yet he was forced to sell many of his artifacts. He lost many of his personal exotic belongings on the way back up. It may seem that wealthy people live a life of a perfect world, with no financial trouble whatsoever. But it is not always the case.

The Lesson

You will hear people often asking questions, "how much money do you need to get rich?", or "where do we get started?". When you ask the same person if they were given 100k dollars, what will they do with it? a fair number of adults will answer to use the money for their personal desires and dreams, willing to spend all of it on their dream car or for on an exotic vacation.  

There are many lessons to be learned from Nicolas Cage’s journey. His hard work, never giving up attitude, and determination helped him to get out of financial issues. The most important lesson that I learned from his story is that it's not about how much money you make but about how much you keep. You will see people all around the world, getting richer and richer but in the long term, it's not only about making dollars but also about keeping it for yourself and your generations to come.

Hence one of the crucial parts of becoming rich is to have Financial literacy. Quite a good number of people finish their schools, get degrees from colleges, become specialized in their interested area yet fail to learn one of the most important skills to become rich. Knowledge about money will not only help in making more income but will assist and guide you to preserve it and use it intelligently.

If you are going to build skyscrapers, you need to have a strong and concrete foundation setup before raising it. Similarly to assemble your wealth, you must acquire strong knowledge regarding finance otherwise it will all crumble within seconds.

Numbers, accounting,  banking, investments, may seem boring and a little confusing at first but if you think about it, then, in the long term, it is the most beneficial subject that will take you to your new height.

We are taught everyday to first learn new skills, become an expertise in your area and then work hard to chase paychecks. But we are never told the importance of not chasing the money and how financial intelligence can help you to rise beyond your dreams.

Changing the Mindset

Its all about changing your mindset. Its difficult to make adults understand because they need to  unlearn and re-learn about understanding the path of rich and prosperous.

Now its time to take your understanding in this article and apply them to you and your life. Discuss the below questions with your partner and ask yourself if you are willing to take on the challenge to change your thought, mindset, and increase your financial knowledge: 

1. What will you do with the money if you were given a million dollars?
2. Do you have enough knowledge about your finances and if you are willing to make efforts to learn about it?

The intention of this article was not to demean any personality or profession but to help broaden your vision and support you on the path of becoming rich.