Reflections on Your Own Money Bowl

 Each person has a different size of money bowl. Some people have a large amount of money that they can manage, and they can live without any problems, and it can even be an opportunity for further development. Some people have a small amount of money, and even when they have a chance to make a lot of money, they don't take advantage of it and just spend it all and end up wasting it all. The money bowl I'm talking about is the amount of money that they can control. For example, let's say A and B live on a monthly salary of 3 million won. A has no assets, and spends most of his income on rent, living expenses, luxury goods, and car maintenance, and uses his credit card to pay for all the expenses that he needs to pay next month, so he has no cash, no savings, and no memory of saving a lot of money. B has several assets (houses or stocks), saves a certain amount of money every month according to his consumption, and has tens of millions of won in savings. Let's say that 1 billion won is suddenly given to A and B each. How will their behavior change then? In my opinion, A has never touched 1 billion won and is just excited, so he is likely to create spending habits that are bigger than he used to, make excessive investments, and squander it all. B does not have 1 billion won, but he has experience managing tens of millions of won in savings, and if he were to receive 1 billion won, he would likely use it to increase his assets (house, stocks, etc.). This is because saving tens of millions of won means that he has a purpose for not spending that much money and has expanded his wallet. However, there is also a possibility that the size of A's wallet is not even a few million won. So when a large sum of 1 billion won comes into his wallet, he would not be able to manage it because it would overflow, and he would try to create more money that he can manage. That is why no one who suddenly becomes rich becomes truly successful. There is also a high probability that he will not know what to do because he has no experience. Even if someone who has been a chairman fails, they know how to build a business again, but if someone who is suddenly promoted to CEO fails, they will not have the strength to get back up because they do not have the experience to grow it from the beginning. That is why it is easy for the rich to become richer, and because their money is large, they have a high ability to check how the large sum of money is used and managed. Therefore, I think that in order to expand their money, you should save at least 10 million won. If you have the self-control and ability to save 10 million won, then 20 million won, 30 million won... As you accumulate assets, your ability to manage them will slowly increase, and you will be able to know what investments to make. Of course, you should never make excessive investments, and I think that a sudden increase in money can be poisonous to you. For someone like Example A above who is not yet prepared, a large sum of money can be poison in life. So you never know what will happen in your future. You may really make a lot of money, or your investment may be really successful and you may become very rich. If you become rich but cannot manage your money, you will quickly lose your wealth. So, you must prepare yourself to enter the path to wealth.

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