Money & Financial Freedom; Different Viewpoints?
Diverse Wealth Standpoint
It's very popular of people in this part of the world to show how wealthy they are with the type of car they drive, where they shop for their clothes, where they spend money in seeking comfort. In fact, it's evident in their choice of phones, the rat race for wealth is becoming too incessant that people no longer understands what matters more. What people don't understand is that striving hard to be rich or wealthy is far different from attaining financial freedom.
Some feel that fat bank accounts, expensive necklaces and even jewelries amount to wealth and riches, they take their time, money and effort to keep investing in these things. To a lot of others as well, wealth is the ability to show that you have financial power to tackle any monetary problems, even beyond your means.
Nigeria; An Interesting Case Study
But my major concern are people who see wealth and affluence as the ability to win the "competition game". In Nigeria for example, rich people always likes to show how rich they are, this is because of the invisible hand of competition between the rich themselves and how they strive hard to maintain the gulf with people who don't own the means.
Appearing rich for example can open up more opportunities to even have more money. Some others feel the need to show that they're wealthy due to the fact that they want to achieve status or affluence. You can call it satisfying ego needs.
For some others, they spent ostentatiously simply to create the impression that they're on top of the food chain. Many people chase money for so many purposes and in Nigeria one of the reasons that stand out is instilling the mindset of superiority.
A lot of people however doesn't understand what it means to be financially free, in fact financial freedom isn't even about having loads of money. It's about having the assurance that, for example, you might not work for 10 years, but you're still living comfortable and fine.
Truth is, there's no amount of money that you'll put in the bank that wouldn't finish for a time duration, inf act, some people have money in the bank, but their security till the next day isn't even guaranteed. Money in the bank for example don't yield dividends, the fact that it lies in the bank means it's readily available for spending, and this is why it's possible to accrue more wants and needs.
Having money creates more needs and want because immediately we see that we're capable of means, this is when our diverse expenditures will begin to gain traction.
Seemingly Wealthy Or Actually Wealthy?
Back to money in the bank, it doesn't multiply, it cannot bring you any simple or compound interest and this is why people with no proper financial education have more chances of going broke even when they're currently enjoying being able to spend at will.
For so many others, they're satisfied with looking rich, their wealth is evident in the endowment that money can buy. These people are the type that creates a need for retailers to increase the prices of goods and services in the public.
These are the type of people that could ridiculously buy a painting for $2 million. Their wealth to them should be an expression of freedom and not really to intrinsically enrich themselves or secure their future, this might seem rather strange, but it's the truth.
My assertions
At the end of the day, the aim of attaining financial freedom is to secure the present and the future and this is why some people have no money locked in the bank rather their wealth is sequestered into properties and investment, and they do not find expensive living to be rather essential.
The truth is, it's Important to live the good life, but it's rather vain to express one's state of worth in the things they wear, for example. When financial freedom becomes one's goal, it changes a lot about them. Crypto, for example, is showing a lot of people the right mentality when it comes to investing and building.
For someone like me, living in Nigeria, we keep seeing the value of the naira plummet every day against the dollar and this is the case for moving one's means off fiat currency and the banks, doing this alone means that one is concerned for the long-term outcome of what that own. In a nutshell, chasing financial freedom is a marathon, making money is a race.
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My name is @Josediccus, a young Nigerian entrepreneur who is a Vlogger, A Psychologist, Poet, Sports Writer/Analyst & Personal Finance Coach. I'm using my contents as a process to create shared meaning as well as create expressions through which people on/off hive can relate. I believe content is a process to be enjoyed and relished and I'm up for any collaborations in my field stated above. Cheers
@Josediccus, your brother-in-pen & heart
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