Obstacles on the way to be Rich

Everyone wants to be rich in life and having the desire to be rich is quite natural. Little or more we all have such kind of desire. Being rich is not a thing which can be achieved overnight because it takes time to achieve. Money is a requirement and we need to earn money from various sources to become rich.

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At this current time, the inflation rate is at an extreme level and almost everyone is struggling to cope up with the situation. The price of all the necessary things is very high. Besides the price of food almost left the ground and flying in the sky means food price is too much at the current time. Saving money is very tough for middle-class and poor people. Moreover, many people facing so tough times that their savings in the past started to finish. So thinking about being rich is not so easy and some mistakes of us make it very difficult.

As I said it's difficult to cope up with the situation and only salary-based earning is not enough now. We need multiple earning sources at the current time if we want to cope with the situation and earn some extra cash. In this digital world, we don't need to depend on offline work because in online there are opportunities to make money online and still many people do not try to create multiple earning sources.

Many of us still don't know what is our needs and what is our wants. Because of this, we buy all the necessary and unnecessary things at the same time and they make us cost a lot If we avoid buying unnecessary things then, it will be beneficial for us to save some money and use the money we can create more opportunities. Besides impulse buying is the thing which gives us maximum damage. I am giving an example of it. Suppose I need food and I buy food using money which is my need but I love to play guitar but I can lead my life without it means it's my want or desire, not my need.

If anyone want to make money we need to take risk in life. Risk is involved in each investment and it's impossible to invest anywhere without any risk. Many of us don't have the courage to take the risk and we don't take the risk and they keep our money idle which is not an ideal situation and if we want to be rich we need to take the risk.

Many people think that keeping assets in the bank is the safest and most profitable where we can make money without doing anything. To be honest bank is not a safe place to keep assets and they also can go away taking our assets and history has many proofs of it. In the case of banking giving us little interest is one kind of illusion. I am explaining how. Because of inflation, our money loses it's value with time and the APR is almost nothing compared to the inflation rate. Keeping money invested in multiple projects or businesses is the best way we can do. Indeed risk is involved there but there are chances of profit also where keeping money in the bank is a confirmed loss. It's just a matter of time we will feel the burden of keeping assets in the bank.

We all have a desire to live a luxurious lifestyle. Having such kind of desire is natural. We all want to do the same thing after getting rich. If we do it after getting rich then it's not a problem but when we do it before getting rich, It naturally destroys many opportunities to make money and it becomes an obstacle to being rich. Suppose I bought a smartphone using $1000. In this case, it's not generating any extra money but if I used the money for trading I have a high possibility of making a profit and it is possible to make the money 2X and buy the smartphone with the profit only. Here investing my money I will buy the same smartphone but the second case is more beneficial.