5 Attitudes to earn money. Which is your favourite?

 19^th July 2021

5 Attitudes to earn money. Which is your favourite?

Dear Fellow Travelers,

Namaste! Our post on Bitcoin was super hit. I have given my best call to all my readers for their use. Those who want to have personalised guidance in any of the cryptos – can approach me. Today I am going to deal with the attitude towards earning money – irrespective of your business/job or profession. There are mainly 5 attitudes.

Beggar’s Attitude: - Have you seen a beggar? He wants money now? It can be a single rupee also. But he wants it now.

Many traders also have this kind of attitude when they put their trade. If the stock does not move up in the next second – this guy goes mad. These kinds of people are always working 365 days but never make two ends meet.

Laborer’s Attitude: - Have you seen a typical Labourer? He wants money at the end of the day. He lives on a day-to-day income. He also works 365 days but he faces a lot of difficulties while meeting the needs of his family.

Many traders are day traders. This may sound good but at the end of the year or 5 years – these guys do not have tons of money for sure. They are still struggling.

Job Goers: - These guys get their salary every month. If the salary is delayed or not given – they start having a problem in meeting their needs. Last year and this year – thanks to locking down – many job goers did not get a salary or did not get full salary – they had to find out some other works to meet their needs.

This kind of traders are futures traders. They play month to month and they decide their performance based on their monthly income. Since they are so much focused on the monthly income – they miss the larger picture of the stock potentials. Compared to the first 2 categories – these guys are better off. But they have to earn money each month to stay in the game.

Shop Keepers: - These guys take a shop, puts their goods, and start selling them. He has little patience than all the above people. It is said in India that if you become successful in 1000 days don’t be happy and if you fail don’t get upset. Shop Keepers have the patience to wait for 2-3 years.

These guys make the tons of money and you see some shop keepers buy a flat in 3 years out of their shop’s income. In the last 2 years – this community has been able to pass the time with little less struggle than the above 3 categories.

In normal times, they make very good money and they have the funds to meet an emergency.

We always request all the investors to be in the market at least for the 3 years. The simple idea is to train your mind with one cycle of Teji and one cycle of Mandi. Those who stay in the market for 3 years minimum – get the real secret of the market.

Businessmen: - They have the longest horizon. When they start a grass root project – they have to wait for 5-7 years before they can make a single rupee. Reliance Jio paid Rs.14000 Crs to win the license in 2011. They actually started the business in 2017. Now, Mukesh Bhai had to wait for 6 years. After 6 years – he made tons of money. In fact, in the 9^th year – last year – he sold shares to FII and made the highest money for himself and his company,

Long term investors are also thinking like businessmen. They have patience, patience, and patience. They don’t get panicked when the stock does not move for 5-7 years. In fact, if they have the cash in between – they keep on adding shares of those businesses. They make the most money. Many times, even more than the company management.

What it means for you?

The faster you want money, the longer you will remain poor or middle class.

If you have read the above categories – you will be able to see yourself in one of the more categories. The challenge is to shift yourself to the shopkeepers or businessmen category as fast as possible. The major money is in these two categories only.

What NEXT?

The best knowledge is to know yourself. The above categories will help you know your inner intentions and attitude towards money. Once you know your attitude towards money – you have the liberty to change it or upgrade it.

Have a great week ahead.

Follow me on Twitter @hiteshmparikh Or on Whatsapp - +91-9869425399.

 

Live With Passion…Invest With Passion.

 

Hitesh Parikh.