Many people spend a lot of time thinking and planning for things that are not easy to undertake. Living in a fool’s paradise is perhaps the best one could think of after listening to what they rely on to make their future financially secure. Absurd ideas to build financial wealth make these people suffer later in the years when they realize that they do not have a single financial cushion to fall back on.
However, the fact is the not every book that one writes goes onto become a best seller, and not every novice corporation makes it to the NYSE. Here are the top ten money fantasies that make you sound stupid.
1. I Will Win Money through the Lottery
Your chances of winning lottery are 1 in 175,711,536. This information is enough to make out your chances of winning money randomly. Even if you participate in all the lotteries available to you, you cannot depend on the probability of winning them to spend the rest of your life. It is much better to work towards getting a job that would help earn as well as save money for the rainy days.
2. You Intend To Write the Next Bestseller
Writing the next best seller is what every novice writer aspires to do. There are lots of manuscripts waiting approvals from the editors and literary agents to able to make it big. Even if you able to get published, there are not great chances that you will be able to make big bucks out of it. Moreover, there haven’t been many that have been able to spend the rest of their lives depending upon the money earned through having a book published.
3. I Will Make Big Out Of My Small Business by Taking It to Oprah
Even if you have a flourishing coconut flan delivery service, Oprah won’t be interested to have it on her show. Though it’s a fact that whoever makes it to her show becomes a best seller instantly, you better calculate the probability to make it to the show. In fact, you better create small goals and take steps towards achieving them.
4. Spending More Money
There’s a great difference between buying what you need and what you can afford to buy. Spending cash when in need of something is nothing bad, but spending money thinking that you deserve to spend it is not the right kind of attitude. You definitely deserve all the cash that you earn. However, thinking to spend it the way you want is not right. Sites like, Consolidated Credit can assist with free debt consolidation advice.
5. Planning To Marry Rich
This is good for people who are not able to stand on their own two feet. You can do this, but do not make it your career goal. It is not good when you act powerless in front of your family and friends since it gives them an impression of your incapability to make it on your own. Instead, work towards getting a better job by going back to school. Getting back to school means you can make all the big bucks on your own rather than waiting to hunt a rich person to get married to.
6. I Will Get Richer Through Inheritance
Depending on inheritance doesn’t make you rich forever. Working towards multiplying it will do so. It may also be that the inheritance that you receive goes out to paying for the educational expenses of your children, or even paying out debt.
7. A Rich Relative
There are some people who believe that they can receive large sums of money as gifts from their relatives by helping them in their old age. This is the most imprudent way of expecting to get cash rich instantly.
8. Planning To Become an Actor/ Singer to Earn Cash Overnight
You cannot spend your entire life thinking of becoming the next superstar by uploading a video on a social networking site. Earning riches needs a lot of prudent planning and hard work. Planning to become an actor or singer instantly is not a wise option.
9. Starting Own Business and Making It Big In A Short Period
Starting a business is a risk and risking it by making the wrong moves to make big out of it is foolishness. You should take small steps and plan making it bigger through your long terms tactics.
10. Asking the Government for Help
The government does not issue grants to help people get rich. Instead, it helps people the other way through transparent processes.
Fantasizing about money cannot be substantiated anyways. The fact is that not every other book can become the next fifty shades of grey and even overnight successes are not a piece of cake. However, you can earn substantial sums of money by planning rationally to start a business or even getting other means of income.
AJ writes a weekly column for finance based for newspaper. She loves traveling and writing in his free time, especially regarding finances and getting out of debt.