Financial Freedom: Thinking Rich
What differentiates the rich from the poor? The answer: financial freedom. Rich people can buy and do whatever they want but most rich people, particularly, successful entrepreneurs and businessmen, don't really spend a lot on things that they don't need. So that begs the question, "Why do we buy things we don't need? Why do we have a tendency to splurge on things that have little value in terms of generating wealth?" Let us try to explore the psychology behind human wants and desires. Then we can understand how that manifests in the way we behave. Needs vs. Wants Human beings need a few basic things to live and survive. One cannot live without food, water, shelter, clothing, sleep, and exercise. These things help us in the normal functioning of our bodies. More than these, we also need to develop and foster relationships. Love and acceptance from others fulfill our social needs. Work humanizes us because it gives us the capacity to pursue our desires. The f...