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7 Reasons That Stop You to Get Rich

I know you want to get rich. But you know 95% vs 5% difference, 95% of the population are dead or dead broke by the age of 60. Only 5% succeed financially. The 95% are broke because of seven reasons. 

So, here are 7 reasons that stop you to get rich.

get rich

7 Reasons That Stop You to Get Rich

#1 School never taught you about money & wealth

Reason number one why you’ll never get rich is because school never taught you about money and wealth. 

Formal education is necessary because we want to learn and the prime purpose to learn is to earn. For making more money to get rich.

You see, when you were going through school, remember the subjects Chemistry, Biology, Mathematics, and Physics. Where is the subject of Wealth, Money, and Investing?

Those courses don’t exist because the school system is designed to teach you how to play it safely.

To turn you into a nice, compliant worker. You see, that’s why your professor is not rich. The school instructor is not rich. The principal that taught you is not rich. So how could they teach you how to be rich if they’re not rich themselves? Make Sense? 

#2 You Don’t Think Money is that important

Reason number two why you’ll never get rich is because you don’t think money is that important.

Have you heard of the saying people say, “Oh, money isn’t everything.” You know when people say that, usually what happens is they got none.

They have no money, and money isn’t everything, but money is very, very important in life.

  • Money makes the world move
  • Money takes care of your family
  • Money gives you security
  • Money gives you comfort

Money itself is just a tool, nothing more. Imagine you say to your girlfriend, your boyfriend, your spouse, your husband, your wife and say, “Hey, you know what, you’re not that important to me.”

Guess how long they will stick around, not long. It’s the same thing when you say to money if you imagine money is a person and you say to money, “You’re not that important to me.”

Guess what, they won’t stay around, and that’s why you got no money.

#3 Your Parents Never Thought you about Money

Reason number three why you’ll never get rich is because your parents never taught you about money and how money works.

Unless you come from a wealthy family, or you’re born with a silver spoon in your mouth, growing up you did not pick up the right beliefs about money, wealth, about successful people.

In spite, maybe your parents, they love you, they want the best for you. However, they are not qualified to give you business and financial advice.

And guess what, because you love your parents and you listen to them when it comes to money, and that’s why you will never be rich.

#4 You were never taught how to make money beyond a job

Reason number four why you’ll never get rich is because you were never taught how to make money beyond a job.

Thinking back to when you were a teenager, and you wanted to make some money, you wanted some allowance, right?

You wanna buy that toy, you wanna buy that car, you wanna go on vacation, you wanna hang out with your friends. You go to your parents and you ask mummy, daddy, I want to make some money, and they say to you, what? Go get a job, how do you make money?

You get a job, but is that the only way to make money? You have to understand how money works. Money earned is nothing more than a byproduct of value creation.

As long as you can bring value to the marketplace, you can render a service or product in exchange for money.

So instead of trading hours for dollars, you can trade your ideas and skills for millions.

#5 Mainstream Media and Advertisers Want You to Consume 

Reason number five why you’ll never get rich is because the mainstream media and advertisers, want you to consume.

Why do they want you to consume? It’s so that they can better control you. Starting at a young age, you were taught to spend money that you don’t have.

To buy things you don’t need. To impress people you don’t even like in your life. Do you want to buy toys for your kids? Buy it on a credit card. Do you want to take that vacation? Buy it on a credit card.

Hey, you want to buy that new car that you cannot afford? That’s okay, get a second credit card. Borrow from your mortgage. It’s perfectly normal to have some debt. Do you have a lot of debt, that’s the problem that we have in the world, especially in India. That’s why families, are heavily in debt.

And when you are in debt, you are controlled by the media, and you’re controlled by the financial institutions and you’re controlled by the banks.

#6 You have a negative association with rich people 

Reason number six why you’ll never get rich is because you have a negative association with rich people and wealthy people.

Why, because you’ve been brainwashed by the media, by your parents, by your friends that rich people are greedy, they are mean, they are arrogant, they are evil.

So what, in order not to be one of those people, you make sure you stay broke cause you don’t want to be one of those people.

You don’t want people to think of you as greedy. You don’t want people to think of you as evil. So what do you do, you stay broke.

My question to you is, is it true? And if you believe that it is true, you will never get rich.

#7 You never take full responsibility for your own financial future

Reason number seven why you’ll never get rich is because you never take full responsibility for your financial future.

You know that 95% of people, always like to bitch and complain and be a victim, pointing fingers at others. What they don’t know is every time they point a finger at someone else, three fingers are pointing at you.

And unless, until you take full responsibility and say, “You know what, I’m gonna do something.” I want you to think about how many hours you spend watching TV or on Netflix versus how many hours you study finance, business, money, and how money works.

I want you to compare the time that you invest. Think about it, most people, spend their entire lives working for money yet they never spend even a few hours their whole life learning how money works.

And those are the seven reasons why most people will never get rich.

70 Years of Gold History Says You Must Start Investing in Digital Gold Now!

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India is the world’s second-largest consumer of gold. It is also one of the largest gold markets. Although acquiring actual gold is the most common and popular investment method, digital gold has recently gained popularity.

Individuals should start investing in digital gold for long term stability.

Read the sections below to learn more about the benefits of digital gold investment and why you should consider purchasing digital gold.

gold price history

Gold Price History – 70 Years

gold price history

What exactly is Digital Gold?

The purchase of digital gold is an alternative to purchasing physical gold. Digital Gold can be purchased online and an equivalent amount of physical gold is stored as backup in an insured vault.

The smallest quantity that can be purchased is one rupee. Customers can sell a portion of their gold at market rates. All of this gold is 24K and government-certified. It ensures purity and eliminates the possibility of fraud.

What distinguishes digital gold from physical gold?

As described, digital gold is vault-stored, 24K pure gold that consumers can access through digital channels. Customers can use various platforms to buy, sell, and receive vaulted gold at low ticket sizes around the clock with the click of a button. Gold has become more practical, approachable, and efficient due to this innovation.

On the other hand, physical gold is typically purchased for decorative purposes and is not a wise financial decision. It covers various non-refundable fees such as making charges, storage costs, and so on, transforming it into a burden rather than an asset. Furthermore, keeping gold physically at home is fraught with danger.

The Advantages of Investing in Digital Gold

Investing in the digital form of this golden metal can provide a slew of benefits. These are the following:

#1 Safe storage

The primary benefit of digital gold is its easy and secure storage. The company that provides digital gold will store the gold acquired in secure vaults. Because the buyer does not own the gold, he avoids locker fees and the risk of gold theft or loss.

#2 There is no lower investment limit

There is no minimum investment quantity; an individual can invest in any amount of gold. The individual will receive the amount that they have invested. As low as one rupee of gold can also be purchased.

#3 Make use of it as collateral

As security for loans, digital or electronic gold can be utilized. Some lenders accept it as collateral because it is 24K pure and housed in secure vaults. It saves borrowers from the difficulties of collateral documentation and lowers their risks of loan rejection.

#4 Exchange convenience

Another significant advantage of digital gold is that it can be quickly traded for actual gold, coins, and bullions at any time and from any location. Individuals wishing to convert digital assets into physical ones might take advantage of this flexibility. Individuals who wish to get their hands on genuine gold can have it delivered to their door.

#5 Genuineness

The purity of virtual gold is 99.99% because it is 24K. Buyers do not need to be concerned about purity and authenticity. Fraud is eliminated, and purchasers receive the value for which they paid. Therefore, an individual should start investing in digital gold.

What Attracts People to Invest in Digital Gold?

When you buy digital gold from an authorized dealer, you purchase 99.9% 24K pure gold, the purest form of metal. Vendors selling digital gold have teamed with fintech businesses, banks, and brokerage houses to facilitate digital gold purchases.

  • When you start investing in digital gold, unlike the old traditional technique of purchasing physical gold, the purity of the gold is no longer an issue.
  • The security is excellent and theft-free because it is held in a Demat account and cannot be traded by anybody other than the investor.
  • Investing in SGBs generates passive interest income.
  • Investing in digital gold incurs no transaction fees.
  • Because of technological advancements, information on digital investments has reached every household. People are aware of digital gold investments and understand the distinction between buying gold jewelry or ornaments and investing in digital gold.
  • Because of the decreased interest rates on fixed deposits, people are investing in better and safer investment alternatives, such as digital gold.

Last Word

The world is increasingly transitioning away from traditional physical assets and toward digital assets. Despite various difficulties, such as investment limits and the lack of a governing agency, virtual gold is a profitable investment alternative. It provides versatility, purity, and good value for money. The digital gold breakthrough has made gold accessible to everyone. No matter where you are or how much money you want to invest, digital gold will always provide real-time access to market prices, quality assurance, and safety. Not only that but unlike traditional gold sales, digital gold may be sold for a total value in minutes.

7 Popular GST Software – Accounting & Billing

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GST Software – GST – Goods and Service Tax was implemented by the Government of India in 2017. Maintaining GST Compliance, proper accounting, billing, and inventory are major challenges that MSMEs (Micro, Small & Medium Enterprises) and small business owners are facing every day. 

Small business owners are always looking for complete accounting & billing GST Software. There are many popular GST Software available in the market that offers multiple benefits such as automated return filing and unifying accounting process. The majority of them are combinations of free and paid. I have done some research and here is detailed information about 7 Popular GST Software for accounting and Billing.

GST Software

7 Popular GST Software – Accounting & Billing  

#1 Zoho Books  

You can manage your business finance with Zoho Books, a cloud accounting platform. Keeping your business GST-compliant, as well as handling core accounting, stock tracking, bank reconciliation, and managing projects can be done on Zoho Books. Key features and prices of this GST software are given below.

Key Features Zoho Books

  • Create Retail Invoices 
  • Create and send purchase orders
  • Keep track of inventory levels at all times
  • Import your bank statements to Zoho Books and skip data entry
  • Project Timesheet management
  • Client Contact Management 
  • GST Portal Integration for Return Filing 

Price – FREE up to revenue less than 25 Lakhs.

Paid version comes with extra features such as application integration. The rate is starting from ₹ 749 per month. 

#2 uBooks  

uBooks is the next popular GST Software. uBooks provide complete accounting, billing, and inventory. uBooks is a hybrid app that comes with offline as well as online versions. Key features of uBooks are given below.

Key Features uBooks

  • Advanced Accounting with Reporting
  • Billing & PoS
  • Inventory Management
  • Order Management
  • Offline and Online Billing
  • Mobile App-Based E-invoice
  • Standard GSTR File Generation
  • Auto Tax Calculation
  • Bank Reconciliation
  • GST Compliance 

Price – Free for a single-user license. A multi-user license is paid.

#3 Cygnet FACE  

Cygnet FACE is item-driven accounting software. The Face software is a modular product approved by GSTN due to its promising features and ease of use. Face software is scalable and customizable based on your business requirements and it can handle the diverse business requirement. Key features of FACE are given below.

Key Features Cygnet FACE

  • Multi-user and multi-company accounting
  • Invoicing with logo and e-sign
  • Purchase order and sales order capture/creation
  • Reporting & P/L Generation
  • Error Free GST return genration 
  • E-way Bill Generation 
  • GST returns preparation and downloadable JSON and excel files

Price – Premium version Subscription – ₹9750 / Year, One-time License ₹17750.

#4 Saral Accounts 

Saral is an accounting and billing software that is GST compliant and covers all accounting and billing needs of the business. Key features and price detail of Saral is given below.

Key Features of Saral

  • Complete accounting including financial statements
  • Sales purchase and inventory management
  • Invoice, AMC and Warranty MIS
  • GST Return filing facility
  • E-way Bill creation facility
  • Dashboard and Report Generation 

Price – Saral is paid software. For Saral Bronze single-user mode you need to pay ₹7500 / Year 

#5 GenieBooks  

GenieBooks provide basic to advance all types of accounting-related features. It is a cloud-based application that can be accessed from anytime anywhere in a secure manner. Key features of GennieBooks are given below.

Key Features of GenieBooks

  • Invoicing and accounting management 
  • Inventory management and tracking
  • Payable and receivable tracking
  • Bank reconciliation & Reporting
  • Payroll management
  • Automation

Price – GenieBooks basic version price is ₹6,999/year

#6 FocusLyte 

FocusLyte is easy-to-use online accounting software. It is a cloud-based software. FocusLyte is an accounting solution that not only helps in filing GST but also helps in dealing with accounting. Key Features and price details of FocusLyte are given below.

Key Features of FocusLyte

  • Sales order and purchase order tracking
  • Accounting and Billing facility
  • Tracing receivable and payables 
  • GST Return Filing 
  • Eway Bill Generation 
  • Inventory Management 

Price – FocusLyte basic version price is ₹9000/year

# 7 CaptainBiz  

CaptainBiz is GST software that helps with billing, business accounting, and inventory management software solution for small businesses in India. CaptainBiz is endorsed by the Goods & Services Tax Network (GSTN) of India. Key Features of CaptianBiz are given below.

Key Features CaptainBiz

  • Billing & Invoicing
  • Real-Time Inventory Tracking
  • Purchase management
  • Cash & Bank Reconciliation
  • GSTR Reports facility

Price – CaptainBiz two years silver plan cost is ₹7,999.

Make Money Online – Power of Internet & Social Media

Make Money Online – The Internet and Social Media are so powerful that you can become a billionaire by doing online business. Yes! You can make money online. If someone wanted to sell. They used to go door-to-door and if someone wanted to be an actor, then they used to catch trains to Mumbai. But, the internet has changed everything. Now you can sell anything to anyone using the internet.

YouTube, Instagram, Facebook, and Twitter are not only social media platforms. These are banks for influencers. You can make several thousand dollars easily per month using social media, blogging, affiliate marketing, and by lot more.

make money online

Make Money Online – Power of Internet & Social Media

Let’s try to understand this by example – @WhatsInside is a youtube channel with 7 Millon followers. The channel started with a school project, where a father had cut a baseball to show it to his child and the same video was posted on YouTube. And now they are making millions of dollars per month from YouTube.

The Internet has changed many things. Intel chairman “Andy Grove” used to say, In the coming years, all companies will become internet-related companies. And the company that will be not connected to the internet, that companies will not survive.

The age of TV is almost coming to an end. People are becoming sensible.

Today, Instead of buying things by seeing TV ads, people see reviews on the Internet and do some research. They are buying the things recommended by their favorite influencer. This means, Today every influencer has become a brand. 

Nowadays you alone can make money online, with the help of social media platforms like YouTube and Instagram. It is not one-time income it is consistent income. 

Before few days I have seen a photo on the internet. The photo says that “Businessman buys a watermelon for $3 and sells them for $4. This means the profit is $1. An entrepreneur buys watermelon for $3 and sells them for $8 by doing some innovation i.e by making watermelon juice in a juice parlor. 

Infopreneur

But an infopreneur is one, who buys watermelon for $3, and does research on watermelon. Create content and video about the nutritional value and benefits of watermelon. Make some interesting videos or content by taking out A to Z details of watermelon. Upload it on the Internet and make several hundreds of dollars over a while.

But these all are possible when your purpose and intention are clear.

To build wealth on the internet you need to understand the asymmetric opportunity. 

Two things are involved in any work of the world – “Risk” and “Reward”. And in most cases the relation of both is equal. This means High Risk is equal to a High Reward and Low Risk is equal to a Low Reward.

Which is called “Symmetric Opportunity”.

But in the opportunity where the Reward is high compared to the Risk, that is called Asymmetric Opportunity.

For example, it took a few hours for me to make this article but when it is posted on my blog it generates income whenever people click on the advertisement appearing on my content. 

And this is the biggest benefit of Internet Business. That you can replicate your income. If I talk about theatre artists, then he has to perform every time to earn money. If today he has performed in Delhi, then tomorrow it will in Mumbai, and the day after tomorrow it will in Pune, etc.

But when this artist will be ill or didn’t give his performance due for any reason. Then that day he will not earn money.

But a revolution comes from the internet, that, if you have capabilities then you can make a lot of money online. You need to become a brand and leverage the power of the internet and social media. 

For example, J.K. Rowling wrote Harry Potter only once. But even today when someone bought Books, Toys, or Games of Harry Potter, or visits the theme park of Harry Potter, Then some Royalty i.e little money goes into J.K. Rowling’s pocket.

In short, She had worked only once, She made a pipeline of money by replicating Toys, Games, parks, and Movies.

If someone asks me what work I do. Then I tell that I’m a little Digital Farmer.

I sow seeds of contents whose crops generate revenue year after year.

In Internet Business, Your competition is worldwide, not with the people on the street. So you will have to make a brand by targeting any specific niche.

Think Media founder says “If you try to reach everybody you’ll end up reaching nobody”. People teach dance on the internet, teach cooking, even they teach repairing or tailoring and earn lakhs.

Only you need to be specific in any one field.

Do you like clay? Well, I don’t know. But most people don’t like clay. But Jorgenson liked the clay since childhood. So he used to read about the soil. He used to research in that field. Who buy it? Who sell it? Which quality of soil is good? etc.

He used to make people aware of the Home Gardening Soil by making videos. And soon he made his own brand and big fertilizers and home gardening companies started approaching him. And with the help of brand promotion and affiliate marketing, Jorgenson, instead of working alone, made a million-dollar company.

See, Many people think, They will become rich, When they will study hard, or do a big job, or some big work. But the fact is that What the thing you are working on, if you have a genuine interest, and there is also demand in the industry, Then you can turn soil into gold and become a millionaire.

The chances to become a millionaire for self-employed people are many times more compared to jobs worker.

There was a time when Oil used to be an innovation. That made JD Rockefeller rich. There was a time when Cars used to be an innovation. 

That made Henry Ford rich. But this is the time of the Internet. That made Bill Gates, Mark Zuckerberg, and Jeff Bezos rich. 

This was my small try, to tell you that, In the coming time, people will trust the genuine influencer more than the big mega-company. Who also teach instead of only selling products.

And due to that trust and loyalty, People will say “take my money and give me your product”. Whether your interest is in any field. But I think that you are a brand. If you don’t believe it, no problem. But when you will realize then remember me.