FBC – 153 – [Solved] The Big Mystery About Money Uncovered. Want More…

The Big Mystery About Money Uncovered. Want More…

Today I want to talk about one of the biggest misconceptions of them all. What is money? what is it used for? AND how can you get more of it using a very simple trick?

All the answers are in this episode.

So today, I wanted to talk to you about a good discussion, a chat that I had with some people. It's a discussion that I have with a lot of people, you know, because a lot of people find it really unfair. And yeah, it's usually depending which side of the fence you're on, you'll find it like super unfair or not unfair or something.

You know, some people might tell you that this is like a broke people's way of thinking and stuff. But anyway, it's about money.

So when you look at it, you know, logically, you will think that the more demanding, the he harder the job is to do to fulfil, the more you should be paid. And if you look at it in terms of, you know, physical requirement and the toll that it takes on your body and stuff, if you're like a garbage man or something, I think it's a bit harder than like being a CEO or whatever, even though maybe you if you're a CEO, you don’t sleep that much or whatever. So this is a hard debate. Okay.

So me, I always try to understand where people are coming from. Right. But in order to have this discussion here, you need to understand something. You need to understand what money is. All right. Because I think a lot of people don't actually know what money is. Okay. So money today is something today. But three thousand years ago, money could have been completely different. OK.

The Big Mystery About Money Uncovered. Want More…

So, you know, money could be water. You will pay with water instead of the dollar bills that we have right now. So right now, we have dollar bills that are being printed, but before it was something else, you know, people were giving like artefacts for something out of gold coins before.

So the format of the money doesn't actually matter. All right. So this is something you need to understand. You were born in an era where money looks like paper or something. Right. But it wasn't the case before and before. Many people were just trading stuff. Right. So they were giving value to an object. OK. So you need to detach yourself and detach your mind from the idea that money itself is something.

So money is actually a way to exchange something that's rare. OK. So there are a few components here.

Let's say you're in the U.S., right? You have a dollar bill. You go into the Amazonian jungle with your dollar. It's worthless. OK. So this is why I want you to understand that money itself is nothing. All right. It's worthless over there. It may be worth something in a country where they know dollars and stuff, but it doesn't have any value, actually. It's just a value that's attributed to it.

So now, if you compare it with what we were talking about earlier with jobs OK. Activities and stuff. Right. So here's the thing. The rarer your skill, the more people will pay for it. OK. It is the math. So it's not proportional to the amount of physical effort you need to provide.

OK, so let's say, for example, people are not going to pay you a million dollars because you can walk. All right. Do you understand? I mean, like everybody can walk. It’s a common skill, a common trait. All right. But let's say, for example, if you could fly and you're the only one on this planet who can fly. Well, they're going to pay you obviously way more because the skill that you possess is rarer. It's rare.

Another component to this is that the skill offered needs to be in demand. OK. That's the second component. If there is something let's say I don't know, a dog with like six legs, it’s rare. Right. But nobody wants one. You mean so in this case, it has zero value. It needs to be a combination of it's in demand and it's rare. Right.

For example, you know, the car manufacturers, you know, these like really good brands like Rolls Royce or something or like these sports cars. You know, sometimes they're like, well, you know what? We only have three like 200 units of this car in the whole world, and that's it. So do you know how much these people pay for these cars like Ferraris?

They are in demand. Right. People want Ferraris. But if in addition, you have a Ferrari, this model. There are only two hundred on the planet. And then that's it.  They're never going to produce that.

Well, this is why people are going to pay big bucks, because this is a combination of being super rare and in super demand. So Ferrari is rare by definition. But if you have a limited series, so limited series of anything is the reason why they can bump the prices.

If you want to make more money and you know, have a better financial situation and stuff instead of moaning and looking at why Bob is paid. This is why Susan makes ten times what I make. Well, here's the thing. Try to figure out what skill is rare and is in demand and you take the time to get some training on it.

And once you have that training, that's it. Then people are going to pay you big bucks for that particular skill. Right. Because some of the skills that you need to acquire, they take a lot of time and dedication.

And why is it rare? Because most people are not going to take time and dedication to make it happen.