Psychology Explains Why Some People Are Richer Than Others
The key to living a happier life is to make a lot of money. Everyone knows that by now.
Of course, a massive bank account (by itself) won’t make you happy. However, having enough money to pay your bills is an awesome life hack. After all, studies show that people who don’t live paycheck to paycheck often have lower levels of anxiety.
So, if you want to make more money, here’s what you need to do:
Learn This Theory About Human Psychology
According to Maslow’s hierarchy of needs, a person’s behavior is determined by five categories of basic human needs. These include physiology, safety, love, self-esteem, and self-actualization.
A pyramid is a common way to represent Maslow’s hierarchy of needs. The most fundamental needs are found at the pyramid’s base, while the most complicated are found at the top.
People can advance to the next level of needs once their lower-level needs have been satisfied. It’s also worth mentioning that people’s needs grow more psychological and social as people go up the pyramid.
Understand How Maslow’s Hierarchy Of Needs Applies To Building Wealth
Once you no longer have to focus on the basic necessities of life, it’s much easier to spend more time doing things you find fulfilling. Thus, some people are wealthier than others because they have more time each day to get filthy rich.
Let me give you a personal example.
My father pays my rent, buys my groceries, and lets me use his credit card. And since my basic needs are met, I can spend a lot of time each day doing things I enjoy.
Last week, I invested $100,000 into the stock market using daddy’s money. That went to zero pretty quickly. And a few months ago, I put $75,000 into an alleged stablecoin named Terra Luna. That was a colossal failure because…