The author of the book "The Psychology of Money" says that when I work in a hotel,I observe that a millionaire is always come to that hotel in which I work. He always come in his expensive car and always come with greater money for showing how great he was. Once he give a great amount of money to waiter and told him to buy some gold coins and he started throwing them in the pond with her friends,only for fun.
Let's take a look on the biography of that millionaire. He was 20 years old when he make component of a WiFi router and patent it and after that he sell some companies. Here we conclude that how rich and intelligent was that person but he knew the importance of the money that he earn? No, he doesn’t knew the rules and the importance of the money. Let us see what are rules of money that author share with us in his book.
Rule #1: Luck and Risk
When Bill Gates was studying in a high school in America. He was so lucky because at that time only school in Washington in which students teachs about computers and in this only school computer are available for students and their is only 300 students which is studying in this school. The teachers of bill Gates told him to make a software for fixing a problem that was faced by themselves. Bill Gates do it very well and have such fun while doing this. The interest of Bill Gates is increasing in computer science. This interest become passion and this passion become profession of Bill and this make bill a Billionaire. If he doesn't get admission in that school then their is no company like Microsoft in the world. Now you are thinking. How lucky Bill was! But Luck doesn’t always with you. Bill shares his friends story who is also interested in computer science but unfortunately he died during mountain climbing. From here we say that there are some forces which stop us from becoming successful and luck helps only few people.
Rule #2: Buy Respect not expensive things
When people saw rich people coming in their expensive car and people who saw this moment only see the expensive car and start thinking about only the car not that rich person. Always remember that buy respect not expensive things. If these some expensive things make profit, then you can buy that thing. Remember this profit is must in the form of money. If you buy expensive thing for only `show up` then that thing will take away your money(price of a car) from saved wealth. So, from here we conclude that rather than buying expensive things ,earn respect from people.
Rule #3: Don't be so much greedy of money
Author tells us a story of Indian who wish to become a Billionaire and this wish makes that Indian to go jail for insiders trading. Let’s see the full story.
That Indian net worth became $100 billion it was about 700 crore rupees. But his wish was to became Billionaire. He was a broad member of an American bank. The financial condition of that bank became very critical. Warren Buffett who worth 82 billion dollars wants to invest on it. So that the financial condition of that bank become normal. Note, If Warren invest on it then the share price of this may increase. That Indian knew about it. That Indian calls his friend give information about it. His friend buy 170,000 shares of that banks and after the investment of Warren, the share price increases at high rate. His friend earns billion dollars through it. But they are arrested for it. Always remember that more greed may be harmful for you.
Are bhai bhai
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