Everyone gambles (read the whole post if you are not a gambler or if you are an addicted gambler) but not everyone is called gambler and do you know why some of us takes risk although in layman terms it is called Gamble but Sophisticated people call is as “calculative risk” . In Gambling world, it is a proven fact that the more you gamble the more you lose, yet people gamble even if it is their last day on earth. Being impulsive when buying stocks or while shopping can you give you a quick ego boost or satisfaction but it is not called calculative risk, there are more chances that the investment you made might not prove to be a good one. As warren buffet rightly said
“If you buy things you do not need, soon you will have to sell things you need.”
We all love expensive clothes, mobiles, electronics, cars, lavish parties, homes and toys but if can’t afford them then we should not buy them instead you should try to create enough income then you can buy it and buying something you like on credit cards and paying them just the 5% monthly with compounding interest is the lamest decision you could ever make. People around the world are in trouble as they are unable to repay their debts on time and there is also another point in which I need your attention even if you earn enough to buy yourself all the nice things that the world has to offer you might not be satisfied because there is an updated version of the product born every week with more features and enhancements and it is kind of a cycle which goes on and on.
Get your priorities straight, either you can lead a life of a person who is never satisfied, who is jealous of their friends and neighbors, who is always looking for silver lining, magic bullet, shortcuts to success, living in hibernation mode, magic formula, lottery winnings OR you can start your life fresh – clean slate whenever you want work smarter, move with smart people, read smart books, lead a happy life, help others, love your family, be humble, start small and then go big and be always smiling and I will choose the smiling option any day.
Which option would you choose and implement.
Image courtesy : www.freedigitalphotos.net