Were's all the money??

[StevieB]

I remember watching my dad when I was 7 years old put water in our shampoo bottles and shake them up to make it last longer. He also did this with ketchup bottles. We had a cordless touch tone phone but when you pressed the numbers and dialed then put the phone up to your ear you'd hear a rotary dialing and had to wait for it to finish before it called out. I asked my mom why it did this when we had a touch tone phone and she said 'dad found out it's $1 cheaper a month to not pay for tone'.

Having grown up this way I was programmed to believe that money is scarce. Money is hard to find. Hold on to your money like your life depends on it because you may not be able to find much of it over your lifetime. If you see a penny on the ground make sure to pick it up. Use the free coffee at work don't dare buy the espresso. Use a coat inside during the winter, don't keep the dial up on the heat to much.

Money is very hard to find and ever harder to make. This is one of the truths of the world and keep this philosophy with you and it will aid you through life.

Except that this philosophy is utter bullshit.

This is a picture taken above the city of Hong Kong.

Each one of those little windows is another apt. building. With another family living in it.

The population of Hong Kong is around 7 million.

In other words in the top picture, just looking at that picture if you made $5 off 1% of the population of one single city that you can see in one picture you'd have $350,000. If you increased that to 3% of the population you'd be a millionaire.

Just from the amount of people you can see living in one picture. Money is everywhere.

 

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[Jake]

This is a picture taken above the city of Hong Kong.

Each one of those little windows is another apt. building. With another family living in it.

The population of Hong Kong is around 7 million.

Nice post. Nice pics. I love Hong Kong. Before I ever ventured into China I though of HK as this great gateway to the worlds manufacturing base. I haven't seen much of China but I've been to Shenzhen and the surrounding area twice now. Incredible. The hustle is amazing. I imagine it's similar to when immigrants started pulling into America. Everyone is trying to get ahead in life. Open up the internet (education portal) and China is going to dominate everyone via pure work ethic. It's fascinating. Wealth will be created in assisting the Chinese in their hustle.

 

[AgainstAllOdds]

Nice post. Nice pics. I love Hong Kong. Before I ever ventured into China I though of HK as this great gateway to the worlds manufacturing base. I haven't seen much of China but I've been to Shenzhen and the surrounding area twice now. Incredible. The hustle is amazing. I imagine it's similar to when immigrants started pulling into America. Everyone is trying to get ahead in life. Open up the internet (education portal) and China is going to dominate everyone via pure work ethic. It's fascinating. Wealth will be created in assisting the Chinese in their hustle.

Agreed. But I'm not sure if Shenzhen and HK are representative of all Chinese. From my understanding, those cities were built by people that had the guts to leave home and seek a better life. Even the factory workers. They left smaller towns and villages to provide for their families.

Regardless, I love the ecosystem in those cities. It's something that you can't see almost anywhere else. It's truly something amazing.

I remember watching my dad when I was 7 years old put water in our shampoo bottles and shake them up to make it last longer. He also did this with ketchup bottles. We had a cordless touch tone phone but when you pressed the numbers and dialed then put the phone up to your ear you'd hear a rotary dialing and had to wait for it to finish before it called out. I asked my mom why it did this when we had a touch tone phone and she said 'dad found out it's $1 cheaper a month to not pay for tone'.

And your dad being frugal isn't necessarily a bad thing. Here's a lesson from one of the most frugal individuals there is:

He uses that rule for investing, but also uses it in his day to day expenses.

 

[Digamma]

Scarcity mindset is horrible.

The most screwed up belief I had from my family is that people with money are all scumbags.

 

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[Deleted20833]

Your environment has a lot to do with the scarcity mindset also

If you hear everyone around you saying money is hard to come by
for years

It brainwashes you into thinking it's true

 

[StevieB]

Agreed. But I'm not sure if Shenzhen and HK are representative of all Chinese. From my understanding, those cities were built by people that had the guts to leave home and seek a better life. Even the factory workers. They left smaller towns and villages to provide for their families.

Regardless, I love the ecosystem in those cities. It's something that you can't see almost anywhere else. It's truly something amazing.



And your dad being frugal isn't necessarily a bad thing. Here's a lesson from one of the most frugal individuals there is:

He uses that rule for investing, but also uses it in his day to day expenses.

Being cheap isn't necessarily a bad thing, but the mentality behind it can be toxic. As mentioned by HugoMoreno is can program you to think money is very hard to come by. I still have a hard time overcoming the mentality.

The problem is when you apply that thinking to a business then it's difficult to spend the money you need to be successful. This was an issue I had in my previous business. I never spent enough money in marketing because I was afraid I would never make it back, which may have been true but it's no way to run a business. How am I supposed to make a profit if people don't even know I exist?

 

[Get Right]

I'm starting with clothes dryers.

 

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[Elliott_Diaz]

Definitely, I'm with the responses above that having a scarcity mindset will hold you back from going forth, taking chances to make things happen and also with the argument that what you are has a lot to do with your environment. Always remembered that you are a product of your environment - if you hang out with 5 broke friends you are mostly likely the 6th etc.... I'm still at the beginning of the whole process but definitely believe I can get out of the lower middle class.

 

[Alan LT]

My mother does the same stuff as your dad. I've notice her habits never changed and kept on trying to cut cost somewhere instead of trying to make more money. This has certainly influenced me.

I've seen people continuously buy and replace shitty products, when instead they could've just bought a high quality product and not have to worry about replacing it.

I'm at the point where I hate spending money, but when I do spend it, it's spent on quality goods.

 

[DST]

Having grown up this way I was programmed to believe that money is scarce.

I've never thought about this but its so true. Money is available everywhere and is the ultimate commodity.


"The world is full of money. Some if it has your name on it. All you have to do is take it"
-Felix Dennis

"The world is flushed with cash. There's never been a shortage of money in the world. Never."
-Dan Pena

 

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[Bigguns50]

If you hear everyone around you saying money is hard to come by

Where I live...this is the mindset. Along with "there's no good jobs...the economy sucks...I wish I would win the lotto.." Sometimes it's exhausting deflecting all that negative energy.

 

[Jon L]

Where I live...this is the mindset. Along with "there's no good jobs...the economy sucks...I wish I would win the lotto.." Sometimes it's exhausting deflecting all that negative energy.

same thing with my community. And they're partly right. There are very few decent jobs here, and the ones that are good pay less than they should because of supply and demand.

So, instead of looking for a job here, I created my own.

 

[Bigguns50]

A friend of mine....I used to work for him...was a multi-millionaire. Not on paper...in cash. ( I used to make deposits for him...I saw his balances). Short story...he was sued and lost EVERYTHING. He and his Wife sold all their properties, bought a crappy used car, and moved into an apartment.

Well...he's back after 6 yrs. (He spent 18 mos in Fed Prison. He said it was like a day camp.) New condo, car, and cash. This guy is amazing. Oh yea...he's also...I think...75 yrs old !

Mindset.

 

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[Ultra Magnus]

Apart from the scarcity vs abundance dichotomy, which if you're on the wrong side of it it will prevent you from getting anywhere in business, here's a thought about the pictures of HK:

In terms of marketing, it's far easier to reach a few hundred rich people and sell them expensive, high-ticket items, then it is to try and appeal to all those families, especially if you don't live there and come from a different culture.

What MJ wrote in his book, "to become a millionaire affect millions" is actually very hard to pull off, and makes his success all the more impressive.

 

[Newpollz]

Apart from the scarcity vs abundance dichotomy, which if you're on the wrong side of it it will prevent you from getting anywhere in business, here's a thought about the pictures of HK:

In terms of marketing, it's far easier to reach a few hundred rich people and sell them expensive, high-ticket items, then it is to try and appeal to all those families, especially if you don't live there and come from a different culture.

What MJ wrote in his book, "to become a millionaire affect millions" is actually very hard to pull off, and makes his success all the more impressive.

This is very true. You start realizing this when you start a new path. When you start training to become a boxer, you respect more and more even local boxers in your town (silver gloves etc.). When you swing the club for the first time ever and miss horribly, you gain so much respect for people like Tiger Woods and so on.

Everything in life is infinite, and there is someone blazing the trail or leading the way. Yes even when Wife Carrying or Cheese Rolling. http://www.businessinsider.com/obscure-weird-sports-2010-11?op=1

I think it is important to know the ways of all professions. A man's gotta be able to run 5 miles, do a decent amount of push ups, know most of the world's capitals, use proper manners, you know.... basic shit.

But when you really start to take a path, a path where you are trying to affect MILLIONS of people, the journey will sometimes be very long and physically and mentally demanding (meaning you will need to adapt). I think that will depend on how much you know and count on yourself above everything else, how many people join your cause (see value in what you do and want to participate not for YOU per say, but for the greater good) and how much endurance and patience you are willing to sacrifice.