Actions have consequences, but in most cases as children, we do not know this, and it is until we are off age that we start to see that truly, actions have consequences. In your finance, actions definitely have serious consequences and while we have been taught so many financial tips in the past, while growing up, I will be debunking a few financial knowledge of yours. Everyone can be a teacher, but not everyone can teach you finance, and you might need a financial advisor to tell you how to use your money, but you would not need a financial advisor to help you take actions on your money, since decision making is entirely yours.
You must have heard that school equals to a good life. Well, the truth is that schooling gives you an added advantage when you are about to start life, but schooling doesn't guarantee a good life. I am not one of those that believe that going to school can make you a billionaire, you see the stories of dropouts who become billionaire are just like the story of a white apple among green apples. It is very rare for such cases to occur, remember that we have a lot of dropouts walking the length and breath of your community, and they haven't even hit the millionaire status in your country's currency. So let me debunk this first that school doesn't equal to a good life, it only gives you an edge.
You must have heard that in everything you do, get a house, because it is the best asset. Let me make it quite clear, an asset is anything that puts money on your table. If it is not putting money on your table, then it is taking money from you. If the house isn't bringing money for you, then it is taking money away from you. Unless you are into real estate, forget that your house is an asset and admit that it is a complete liability, as you have to pay mortgage, do repairs and pay other related taxes on it.
Money is the root of all evil. When you say this, it makes it sound like people who commit all kind of atrocities do it for money, when some are just not mentally stable and are doing it because it makes them happy. Money is the answer to all money problem is supposed to be the right phrase. You cannot throw money into a non-money problem, but you can throw money into money problems. So money isn't the root of all evil, it is a vehicle to solve money problems.
On a final note, you will be wondering that even when you make millions in salary, you haven't reached that billionaire status. The reason for this is that, it is not a matter of how much salary you make, it is a matter of how well you use it. The way you use the money you earn, allows you to reach your goal very fast or remain in the same position. If you are spending more than you earn, then you are liable to remain poor because you are not using the money wisely, but when you use the money in the right way to invest, you are surely going to grow your financial status.
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