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Who owes whom?

According to Warren Buffett:

​"when you're playing a game of poker and for 20 minutes you can't figure out who the clown is, then the clown is you."

The problem is that, for most people, money is not a game. For many, money is survival... maybe even life itself.​​

And no one has explained the rules of the game to them, as there is a huge lack of financial education in schools. People go to school for a better life, but few learn anything about money. And this leads us to have worldwide huge rates of economic (and business) illiteracy.

If you want to be financially successful, you must, when it comes to money, recognize how reality differs from other people's opinions. You have to know the numbers. You must know the reality. And the numbers can reveal the reality. Your financial survival is based on reality and not on the chattering opinions of some friend or advisor. Such as:

  • "Real estate prices are always going up."
  • "Greek government bonds are guaranteed."
  • "To make money you have to have money."
  • "Investments are risky."
  • "They have a big house. They must be rich."

Most people struggle to make ends meet because they rely on opinions and opinions, such as the above, rather than reality, when they are called upon to make financial decisions.

One of the basic rules of the game is this: “Who owes whom?». The more you owe, the poorer you are. And the more debtors you have, the richer you are.

Most of us are in debt to someone and problems arise when the debt gets out of our control. But when someone owes a lot, they take away everything they have and don't have: time, work, home, life, self-confidence. And if he lets them, they will get dignity too.

We didn't make the rules of this game, but we have to learn how to play it. To learn to we play the right money game is an important part of our path to financial freedom.



See more texts about the money game HERE

The text was published on epixeiro.gr: www.epixeiro.gr/article/143569