Not wealthy and rich yet? You are not stupid.

You dream of being wealthy, you dream of having more. You have a strong desire to break free from ordinary routines, but you don’t know where to start. I’m not exaggerating if I say that most people share the same goal.

People want to be independent; we want to stay on our own feet and provide for ourselves and our families.

 

When I studied for a bachelor in Entrepreneurship and Business in Oslo, we did not learn about personal finance. I’ve never learned how to acquire wealth and how to become more independent from employers and banks with their loan practices. We didn’t even touch this topic during my 12 years as a pupil.

Think about it, one of the essential things in life is to be able to take care of yourself financially. And we don’t learn about it..

I love this video by Ken Robinson on how our educational system came in place, and why it is so outdated:

The current system was designed and conceived for a different age.

Modern society has failed to improve the educational system and is currently stuck in producing qualified employees with a degree. Our schools educate us to be “employable.” Not to stand on our own feet and make the smart choices when it comes to personal finance.

How often did you hear about interest rates? Inflation? And what about consumer loans? Did they tell you to keep away from consumer loans? My guess is no.

The Ironic Failing System

A book that I recommend for anyone interested in our economic system is the book “23 Things They Don’t Tell You About Capitalism” by Ha-Joon Chang. In chapter 17 he writes:

There is remarkably little evidence showing that more education leads to greater national prosperity.

And on page 187:

.. an unhealthy dynamic has been established for higher education in many high-income and upper-middle-income countries that can afford to expand universities. Once the proportion of people going to university goes over a critical threshold, people have to go to university in order to get a decent job.

More education doesn’t mean better productivity for a nation. It can result in the opposite. How many years are spent on education alone? How many years could have been spent on producing?

You are not Stupid for not Being Wealthy

The society isn’t built to help people become financially independent. It’s built to make people economically dependent on employers and banks. We are fooled into a consumer pattern where “buying more” is considered to be the ultimate goal with life. Owning the latest gadgets, the most expensive cars we can get our hands on, and live in an ever-expanding house.

Think of how many times you see advertisements from commercial agents trying to get you to purchase their product or service. That’s an enormous part of your life. You are not superhuman. We are easily affected and lured into different schemes.

And when you don’t have the most basic knowledge of personal finance imprinted in your mind, it’s near to impossible to not fall for their tricks.

 Social Pressure Doesn’t Help

We are social creatures. Our mind is warped into living in conformity. We want to be like our friends and our family. It’s very, very hard to stand up against social pressure. And the consumer market that companies have managed to create is so robust that it makes the smallest attempts to break free unimaginable hard.

I’m struggling with it myself! I don’t own any watches, but when I’m in social gatherings and look at the men wearing their “Rolexes” or “Omegas,” I immediately feel I need to be as good as them even I know I don’t need a watch. It is hysterical! However, I’ve managed to avoid purchasing a watch for 12 years now, so I’m quite confident I won’t buy one in the future either.

Don’t Feel Sorry for Yourself

Stop feeling sorry for yourself. You have been fighting the society for all your living years without the necessary tools and support you need to build wealth. Wealthy people have just been:

• Luck

• Educated in personal finance

You can accomplish the same goals with guidance. You can also strike luck any time, but you have to try. Try, try, and try again. You will fail multiple times, and you will learn from your mistakes. Trust me; I’ve failed over and over again. Even though I’m quite successful with my ventures and money management, I’m still striving to reach my next goal.

Why Do You Not Invest?

One of the great secrets to wealth is ownership. To own something that is both worth money and that generates more money. Think about it. Who were the wealthiest persons a few centuries ago? It was the landowners. The landowners had a massive chunk of land that they rented out to peasants and other more unfortunate individuals. They made money by either claiming most of their crops or by securing a fixed sum per month. Those were the truly wealthy people.

People do not seem to understand how having a money generating asset truly can help them economically. To own a house or an apartment for personal use is not the same as to own a house or an apartment that you rent out. Something that generates a monthly cash flow. The more money making assets you have, the more wealthy you will become in the end. At some point, you might not be able to spend all the money you make even if you wanted to.

We are not taught this skill. There’s a reason for why you have not spent most of your adult life trying to accumulate assets. The capitalistic society does not want you to focus on what can set yourself free; they want you to work and consume to inflate the market. Do not be upset that you’ve wasted time, as this is the time to make a change. Now you are aware.

So What Can I Do?

On MoneyMakers.com I will continue to write educational pieces to make you wealthy, more financially independent, and in the end, be able to live a better and happier life. My passion is so intense about this field that I’ll give you everything you could possibly need to get there.

If you are interested, you can order a full review of your personal finances here.

Images from Shutterstock.