The main reason the rich get even richer, the poor get poorer and the middle-class struggle in debts is that the subject of money is taught at home and not in school.
Most people learn about money from their parents. So what can poor parents tell their children??
“Go to school, study hard, get good grades, be an achiever, so that you can find a safe and secure job.”
The child may graduate with excellent marks but with a poor financial mindset and financial illiteracy.
Schools and colleges only focus on scholastic and professional skills but not on financial skills. This is the reason why bankers, doctors, accountants and other professionals who got good grades may struggle financially all their lives.
If you want to know what you are passionate about. Think of an activity that you can do it for free. You can and will find a way to monetize it later. And if you can do something for free, that work will not bother you and the process gets easier. The reason I am saying this is because when you cannot do something for free if you don’t like it and not happy with it. It’s your insight that’s making you do something for free and you are happy on top of it.
Most of the people ignore the money subject. They go to school to learn a profession, have fun at their work and earn a lot of money. And one day they wake up with a big-money problem which they don’t even know how it happened. Now the only thing they know is to work hard all their lives instead of thinking the other way, hence, the term “Rat Race”.
In my next post, I will tell you how the power of thinking affects us.