You will not believe it even if I told you that earning money is the easiest endeavor any human being can accomplish.
However, to earn money, you need to understand why people spend money.
Why do people spend money?
Before we start make sure you have read the previous newsletters to not lose us in the middle.
Now back to the question, why do people spend money?
You will tell me that it's because of demand and supply—an economic theory that seeks to match money on the one side, and goods and services on the other. You will tell me that people spend money because they have needs, like hunger, shelter, comfort, convenience, clothes, shoes, entertainment, etc., etc. And you're probably right.
However, what I'll tell you will shock you.
People spend money to satisfy an emotion.
Money is energy.
Yes, you heard that right!
Money is energy that people acquire and spend emotionally. Even if you don't spend money emotionally, circumstances will come that will force you to spend it. You will also tell me that people spend money because of pain or pleasure, and you’re probably right. So, we can safely say that money is energy being applied on the one side as the ability to acquire an emotion, and energy forcing you to spend money on the other side. What happens when you want something so badly, but you don’t have the money to buy it? That’s what I call energy imbalance. When there’s energy imbalance, one side of the economy suffers, while the other side thrives. What follows is economic instability. Energy balance is what economists call economic equilibrium. That’s when the amount of money in the economy matches with the amount of goods and services.
Economic equilibrium is impossible due to human greed, because by nature, humans are driven by greed than by equity. Thus, they’re inclined to create a situation of monetary scarcity to maintain control.
Perhaps you could argue that the amount of money someone has is directly correlated with the amount of hard work someone has put in. That’s not always the case. There are many people who work extremely hard but have very little money in their pockets.
Because people have devised clever ways to outsmart others to earn much more money than the average folk. Lots of money. And if you can’t use your brain, you’re out of luck. I know you've been taught that money is a medium of exchange for goods and services. That's partly correct. My favorite definition of money is that money can be used to exchange human emotions.
As I mentioned before, money is energy. Money is simply legal tender given authority by the Central Bank or the nation’s Reserve Bank, to purchase goods and services. It is known as FIAT currency. It has no intrinsic value.
In fact, the piece of paper you’re holding in your hands is not real paper. It is a type of cloth made of special cotton from the Himalayas. The reason people trust it so much is because people have collectively agreed that it has a certain value. It is simply based on people’s faith. In fact, there’s no gold equivalent in the Central Bank. That’s why people should not dismiss cryptocurrency simply because it has not been embraced by Central Banks. Central Banks are just afraid of losing control of the total FIAT currency floating in the economy.
Well, how does this work?
You see, whether you're suffering from hunger or you're a drug addict, one way or another, you'll get what you want, with or without money.
Forget about demand and supply. These, we will discuss if need be.
What if you don't really want food or drugs? How will someone sell you something you don’t want? There’s a difference between need and want. People buy things they want, not things they need. Suppose you don't want a new dress, new shirt or a wristwatch?
The way to get people to buy things they don’t want is to sell an emotion. The emotion must be so compelling that if the buyer doesn't get it he/she will become sick—which may create other emotions. People buy things through a chain of emotions. Even if you satisfy one emotion, another one crops up.
Ever heard people say that, “money can’t buy happiness?”
What if I told you that money can actually buy happiness if you buy things that bring you happiness? Have you ever been happy and broke?
Ever heard people say that “money can’t buy love?”
What if I told you that money can actually buy love if you buy the things that bring you closer to the person you love? Do you know the feeling of being rejected by a girl simply because you didn’t have money?
Ever heard people say that, “money can’t buy peace?”
What if I told you that money can actually buy peace if you buy the things that bring you peace? Have you ever experienced sleepless nights simply because you didn’t have money pay your rent? Did you have peace? What about when you actually found the money to pay rent?
We don’t actually buy things because we need them. We buy things because we think they will give us the emotions we want.
I think you’ll agree with me that these days, society regards you as a nobody if you don’t have money. In fact, I think you’d be a very miserable person without money. Sad, but true.
Let me explain…
Suppose I try to sell you a gold watch for $1,000 (although gold watches could cost upwards of $50,000). Let's take this hypothetically. You'll probably tell me that you don't need a gold watch or that it's very expensive. Now, suppose I tell you that the same watch used to be worn by the former United States President, J.F. Kennedy, and that the same watch could be sold for $100,000 at auction today? Your mind would probably start racing…
Now you're no longer thinking about a gold watch. Your mind is thinking about buying an investment. In fact, even if you don't have the money to buy the watch, you're probably thinking about borrowing money from the bank, or even selling your house to buy the watch. Under the circumstances, who wouldn’t?
By now, you're throwing all caution to the wind because the deal is too good to be true, and now so compelling that you don't care where you'll get the money.
What have I just done?
I've just sold you an emotion.
I've just added a twist to the transaction. I’ve just sold you a story.
And you're now ready to sell your own mother just to buy one miserable, gold watch. Well, this may not be the case for most people, but I’m sure some people would give it consideration.
That's the secret to earning money only a few people know…
You appeal to the emotions.
To appeal to emotions, you must think psychologically–not rationally. People don’t buy features and benefits. They buy things emotionally, then justify their actions with logic later.
Why do you think people still buy the Mac instead of the PC although PCs are usually cheaper?
Why do you think people still buy an iPhone instead of an Android although an Android is much cheaper?
Why do you think some people still buy a meal at expensive restaurants instead of a cheap one across the street although the food comes from the same farm?
Why do you think people still buy expensive brands like Gucci instead of cheap clothes across the street at a fraction of the price?
They buy emotions.
Fear, anger, joy, happiness, love, hatred, and sadness are primary human emotions. Other notable human emotions are, pride, jealousy, contempt, disappointment, ego, selfishness, self-interest, greed, etc. Although they might not appear to be quite obvious, emotions are powerful feelings that drive humans to purchase things. Did you know that people can buy things because of anger?
This is the secret of earning money that only a few people know.
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