5 Money Rules for Students💰 | Escaping the Middle Class Trap | Prashant Kirad

If your age is between 13 years and 25 years, then can change your life. You always don’t think about what people do different when they are rich? do these people only make money because of which they have become so rich?

So here I tell you one thing that just making money does not make you rich. And there is also a very good case study above it which is Mike Tysson. Mike Tysson’s name may have been heard by all of you at some point. There was a time when he had crores of rupees inside his bank account.

But Within 2003 Mike Tyson Had a Loan

But within 2003, Mike Tyson had a loan of 2.3 million over him and he becomes bankrupt. that is, this thing proves that if you want to become rich, then you do not become rich just by earning money. rich people who are rich, their mindset is different. They follow some of the principals that make them rich.

Now all these principals are not taught at all schools of Indian education, but today I will tell you. So let us tell you again today that poverty reality is 90% for India. But for the rest of 10% of India, poverty is not. Not actually give Poor De Think Poor Poor.

People’s Uguysy Spend Deer Money and Invest Left That’s the Philosophy of the Philosophy of The. Hi Every, my name is Prashant. Today’s is going to be a one-to-one talk. If you are a school student, a college student or a working professional.

Become Very Rich

If you also have a dream, not one day in life, we have to become very rich. A lot of money is made. So today I don’t know why you won’t be able to get rich. Some mistakes that we come from school life and we are not even taught about it in school.

Due to which, according to a report, the situation in India has become such and not that in today’s time only 1% of Indian Population has 40% wealth of this whole country. other 99% of the people who are left, they either come inside the poor class or come inside the middle class. people are trapped inside a trap, due to which they can never become rich. But what is this trap?

I don’t understand this trap in very easy language. through a simple C story. Once there were three friends. All three were inside the same college and the jobs of all three are not inside the same company and the salary of the three was also absolutely same.

Means 0xE2 0x82 0xB9 00

means <0xE2><0x82><0xB9>00. Now fast forward we do 10 years later. 10 years later, there was a scene that this was the first friend, not Aman. What was this was that it was very much in debt.

a loan of <0xE2><0x82><0xB9>5 lakh was imposed on it. If I talk about Rohan, then this is Rohan, it was living a very middle class life. that means he used to fly as much as he used to earn in the end of the month. The next month, the salary used to come and its bicycle used to run like this.

But Shockingly, who was Kabir, had a savings of Rs 20 lakh in his bank account. he had also invested his money in different places. And even if he did not work, he could have lived a very good happy life. The question comes that after all, the three friends started the same job, started with the same salary, then what was the difference within 10 years?

Difference Between Mindset

The difference was the difference between Mindset. Now to understand this, I do not create a chart in front of you. There are four things inside this chart. first salary, second expense, third asset.

What is an asset? Investment is in a way that you get returns later. Now you can also put the stock market in the asset. You can also add trading or you can also invest on yourself so that you are going to get returns somewhere later.

and the last column comes in the liability. Liability is a very simple thing, you should understand the loan. Now let’s talk about Aman. So what was Aman It was not a poor mindset.

A Poor Mindset

What is a poor mindset? What are the poor people who make mistakes? Now as soon as he earned <0xE2><0x82><0xB9> 500, he became very excited after earning <0xE2><0x82><0xB9>50 and he thought that let’s do this. I go to my restaurant somewhere.

I buy some expensive clothes. He abolished his salary. Then what happened in the same month that a new iPhone is launched in the market. And now he thinks I don’t have to take this iPhone.

No matter what happens, because all his friends were taking that iPhone. But he did not have money in his account. So what did he do? He took the loan on which he took the iPhone and now his EMI had to be paid every month.

Month a New Product Came He Took

No more than a month, the next month, a new product came, he took that loan. Then he took a loan on something else. then he took a loan on something else. And this bicycle went on and went on and he got stuck in such a loop that after 10 years, there is a loan of more than 5 lakh on it.

That’s why he couldn’t buy anything here. Now let’s talk about Ronnie. Rohan held a middle-class mindset. What is a middle class mindset?

Now look, it used to earn <0xE2><0x82><0xB9>00 as well. Its expenses were between <0xE2><0x82><0xB9>400 to <0xE2><0x82><0xB9>00. Now this Rohan, it used to think that let’s not take a loan and it used to control whatever it needed, it used to control the amount of it and did not spend money on extra things. But yes, it also could not save money and its asset was also zero and its liability was also zero.

That Is There Was No Loan nor Did

That is, there was no loan nor did it make any investment. Now let’s talk about Kabir. This is Rich Mindset. Now look at this thing very carefully.

Now Kabir did not take a decision. It had a salary of <0xE2><0x82><0xB9>00. It took the decision that for the next one year, he would spend only <0xE2><0x82><0xB9>00 every month out of this <0xE2><0x82><0xB9>00. and this is not <0xE2><0x82><0xB9>00, he will save it.

After a whole year, she had saved around <0xE2><0x82><0xB9>3,600. What did he do now? This was 3600, some money invested inside the stock market and invest some money on yourself so that he learned some new skills and when he learned new skills, he got a job promotion from it. next year, his salary was Rs 1 lakh.

After 3 Years His Salary from 1

After 3 years, his salary from 1 lakh to 2 lakh. because he used to invest something on himself every month. New things used to learn and after 6 years, the salary of the same person was 4.5 lakh. He put money inside the asset i.e.

he had also invested money in many different places and his liability had also become zero. After 10 years, he had savings of more than Rs 20 lakh in his account. Now we have seen the difference between these three. The first was Poor Mindset, one was Middle Class Mindset and one was Rich Mindset.

Rich Mindset Knows What Is It? that he does not expand for a year or two in the beginning. But within those one-day years, they invest their money in different places and the biggest investment they make on their own. Now the question comes that if you also want to bring this rich mindset, then which rule do you have to follow?

I’m Telling You Five Simple Rules

So I’m telling you five simple rules. Now take a pen paper and note down all these five rules. first of all, Rule number one don’t drop to look rich. It’s a very famous book.

There is a very sweet line inside. Listen to it carefully. Spending Money to Show People How Much Money You Have Is The Fastest Way to Loose Money. that is, if you are spending money to show people, then it means that you are going to lose money very quickly.

That is, your bank account will be empty. According to a study, there are more than 95% of the expense purchases inside India, not the expansive purchases that are extravagants are due to foamo. The Fear of missing out. well, I have a question.

Answer It to Be Honest

Answer it to be honest. You must have also seen a reel in which someone will have a new iPhone or a new MacBook and you will also feel that I also have to go and buy that. The whole game is social media and foam. that is, we spend because we have to look out inside our friends.

that is, we have to look good in our friends. Now look, there is nothing wrong with buying new things. But it’s a very useless thing to buy to show others. What is the sensation now?

The sensation is very simple. Now whenever you are buying such a thing, you will not ask yourself a question. Will I buy this thing even when I can’t show this thing to anyone else? So this is Rule Number One.

Let’s Move to Rule Number Two Which Is

Now let’s move to Rule Number Two, which is the think like investor. Look who the investors are? people are those who put their money in the company and double, triple their money and take out that money. Now you don’t have to be an investor of your own life.

Where will you invest? need to learn new skills. New opportunities have to be found. I have seen many people who are doing two to three jobs at a time.

are learning different skills so that their promotions are very fast and they become rich. One more thing with that is that you will not have to stop being a consumer. You have to be a producer. What is a consumer producer?

I Explain in Simple Language

I explain in simple language. You are a consumer running Instagram reel. But if you are creating a reel, you are a producer. see the rich become the same person who knows how to produce.

If you can produce, you will also become rich. Maybe today my words may seem a bit bitter. But today I am talking in reality because all these things are not taught in schools and today I feel that I can tell all those students the truth to all those people. Now it is the turn of Rule number three which is the play long-term game.

Look, there are two types of people. One who lives in a short-term game. One of those who live in a long-term game. From a simple question answer, you will automatically know what kind of person you are.

What Would You Do If I Give You

What would you do if I give you <0xE2><0x82><0xB9>10,000 today? You have two options and what you will do to tell the truth in the comment. Will you learn your favorite shoes of that <0xE2><0x82><0xB9>1,000 or any gift or any other thing or from that <0xE2><0x82><0xB9>10,000, you will learn a skill that is going to be very important for your life. onestily answering the comment by posing the inside the comment, one or two.

If you have also given a answer one, it is not a matter of panic because 99% of people give the answer to the forest and this principal is called hypolic discounting in economics. Our brains don’t like easy things. Things that you see easy for <0xE2><0x82><0xB9>10,000, are you getting rewards, you are getting rewards because this mind will get you. What you’re going to get a long-term reward.

for example, if you buy a course so that you will feel a lot of development in the future, that your mind will never recommend you. Because you won’t get his reward today. You will get it after 5 years, after six years. So remember that you also have to play a long-term game.

That Is You Have to Think According

that is, you have to think according to a short time of your daily life, no matter what you have. You are spending something, taking an expansive thing, then think whether it will be useful in the long term or only you can do it for a short term. That was the rule number three. Now let’s move on the rule number four side which is the surrounding matter.

A question I ask you. Imagine you are inside a friend circle in which all your friends go to new cafes daily. iPhone, MacBook, what will you do? obegus is a thing.

You will also feel like going to the new cafes. I also need to buy the iPhone. I also have to go to the vacation. You will also feel like 110% and not a study was done on this thing.

In a Study Where an Average Child Was

In a study where an average child was planted with a topper child and a midoker child i.e. a child who was not good at reading. an average child was also seated with him. When the test was done after 1 month, the average child who was with a topper child and his marks were incrised.

Because his surroundings had changed and that is the power of surrounding. that is, look at how your surroundings are. This was the rule number four. Now the rule number moves towards the five, which is Build Financial Intelligence.

In today’s time, having financial intelligence is very important. reality, but reality is not that no one teaches. A simple rule today I teach you. Rules are 75 15 10 rules.

Start Earning Money Then You Spend 75

according to this rule, as soon as you start earning money, then you spend 75% of it in your expenses. You also have to enjoy life, go somewhere to go? 75% of you can be suspended. What do you have to do somewhere about the remaining 15%?

need to be invested. that is, think about investing in the right place. that you are investing in the right place or not. Whether it can be the stock market, anything can happen.

He can also be invested on himself. and keep the remaining 10% in your bank account an age and emergency fund. Because you do not know if a health emergency will come tomorrow where money may be needed. 10% of you have to always keep your bank account inside your bank account.

More Than One More Thing To

more than one more thing to remember that these short-term benefits are not run away from them. For example, nowadays you must have seen on Instagram, traders who claim to earn crores of rupees in a day., according to a report by Sebi, 87.71 traders had booked the last year’s loss in India. That is, only 13% of traders had made money. The rest of the money was immersed and that is the truth.

This is the reality that is not told inside the schools, inside the colleges. Hope you would like this. If you liked it, then share it with friends on your WhatsApp group because the eye is the financial intelligence, it reaches every student of India. My name is Pacific.