1. You will never be rich. Mindset is the real barrier. The mindset of poor will never let us create wealth and even if created then will not be able to maintain it. As it is appropriately mentioned in the book ‘Rich Dad Poor Dad, it is how we handle the money that we have that will matter. To be rich, the mindset is needed to be changed.
2. Mindset of the Poor. A poor person will always think about the following: –
(a) I have so little money; I can never be rich.
(b) I will have to borrow money to do this or that.
(c) I can’t afford this or that.
(d) I will make my child study harder and place him/her at a higher job.
(e) I have to pay this bill or that bill, so I can’t do this or that.
3. Mindset of the Rich. On the other hand, a rich person will always have a different mindset, the thoughts in the mind of a rich person will be: –
(a) I will invest the money I have and make it earn interest for me.
(b) I will learn new skills to start my own business.
(c) I will learn a way so that I can afford it.
(d) I will save first and then start expenditure.
(e) I will make my money work and earn for me.
4. Society’s Plan to Keep me Poor. It is not meant to demean the values of society. But to let the reader know as to how does these social elements keep our mind away from thinking of riches. Right from the birth we are told as to what we can afford and what we can’t. The mind is programmed to tell us exactly what should we not even think about. Even if somebody tries to break the barrier then rumor mongering and fear of being laughed at keeps us away from all these things.
5. Financial Education is not taught. The most critical requirement is to improve the Indian Education system. We are taught everything (History, Geography, Mathematics, )but nearly nothing about financial awareness. There is no such subject and there are no co-curricular activities as well regarding this. Whenever one starts to earn, there is none to guide about planning the finances. The requirement is to include basics of financial awareness in our syllabus.
6. The Psychology of Clock. What does it take for the clock to work? Nothing – Right? It’s just the inbuilt mechanism that makes it function like effortless. Nothing more and nothing less. That is what the present education system makes us. It makes us a machine and we blindly follow what is taught to us. It’s natural to us not to think and just follow the masses. So, what do we follow, we follow the typical mindset of a job, most likely a government job, or maybe in some tech firm? But the mindset is just of working hard for someone else. It is followed without question, and it is accepted too. That is the psychology that is the real enemy. It is what stops us from making riches.
7. Breaking the Shackles. So, what to do, how to get out of the psychology of the clock? The answer lies within. As it is rightly said “Everything Lies Within”. The requirement is to think the possible ways to get the riches. The requirement is to strive and work hard. To have a vision.
To treat it like a mission. To identify the capability or the requirement to develop it. To accept the limitlessness of mind. To acquire the required skillset. To have a dream that takes the sleep away. To accept and to work towards it day by day.
8. Exactly How to Get Rich? It is all about the knack of getting in the details that s required. It is a fact that once a person knows how to get in detail then it would be easy to plan a route and it would be jotted out after due deliberation. It doesn’t matter whether the aim is to learn some programming language, or to start some startup, or to open some shop, or to start a blog. Whatever is the field the requirement is to plan in detail and that will come with a lot of hard work. It will take away the soul and extract the juice out of us. The path won’t be easy and would be full of problems.
9. Steps. To channelize the deductions drawn from the blog above, it is important to draw a step-by-step plan to acquire the riches. In the suggestion of Team Medhini, the broad steps can be: –
(a) Know the weakness and the strength. Knowing about which it would be easier for the aspirants to take a well-informed decision.
(b) Acquire required skill set that is required to put the plan in action.
(c) Start taking small steps towards your goal.
(d) Be Consistent.
10. Conclusion. It is just a matter of changing the mindset to be rich. We need to question the basics of everything. With detailed planning and with discipline one can achieve any aim. To have Financial Education as one of the basic subjects that are taught as part of the Education Curriculum. Have the mindset of an Entrepreneur, make the money work for you and earn for you.