"I saw my salary on a bottle of perfume today"

[virasog]

[Just for context, I am not talking about holding money. I am talking about investments that could give me passive income that will continue to come in the future and give me financial freedom. As long as I can survive with that amount of money and not worry about the future, then it is financial freedom to me.]

In order to have financial freedom, one needs to invest in something that could give him a huge return after some years. This can be investment in bitcoin, Gold, Stock, Real Estate or anything else of good value but the question still remains where do we get that extra money to invest in them?

As per your example, the perfumes were so expensive that a certain person wouldn't be able to afford them. So how can such a person who lives hand to mouth, will be able to invest in bitcoin or gold in order to have financial freedom? He can't unless he does not have ways to earn more money.

So, it is only that rich people can invest more and hence they will get better financial freedom. A normal person first may not have the capital to invest and even if he saves some money for investments, the return on small investment may not be that high that it can give financial freedom to him.

[1715357786]

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[cafter]

snip

Thats why the quote is right, "rich get richer, the poor get poorer" because they don't have capital to invest, start a business, etc.
you are right that first we need to earn enough money that will give us big returns on investment, or enough money to start a small business which have high chances to grow and future.
some lucky people are able to get high returns or gain financial freedom because there are very less opportunity like bitcoin in early stage, people who invested early were lucky to gain high returns.

[uneng]

Thats why the quote is right, "rich get richer, the poor get poorer" because they don't have capital to invest, start a business, etc.
you are right that first we need to earn enough money that will give us big returns on investment, or enough money to start a small business which have high chances to grow and future.
some lucky people are able to get high returns or gain financial freedom because there are very less opportunity like bitcoin in early stage, people who invested early were lucky to gain high returns.

Riches get richer because they have a constant flux of income dropping on their pockets every month, which is pretty enough to cover their expenses (which are already high) and to invest the surplus, at same time. Meanwhile, the miserables have only income to cover their basic expenses, being very attentive to make sure that money is going to last till the end of the month, and nothing else as surplus to invest or make plans for the future.

The tools each category of citizen have are different and determining for the future of each of them. While riches have powerful, automatic and technological tools under their disposal, the poors have only archaic tools from the ancient times. Of course, the results each of them will achieve are completely different after all, with very few exceptions.

What happens is that the media tries to sell these few exceptions as the rule, deceiving the masses to believe they will also achieve the same success if they follow a series of steps introduced by virtual coaches and economists. It has been a profitable business to lure and deceive people into believing easy and overnight wealthy. The truth they hide is that there are many other factors involved on the process.

[coupable]

I bring up this to talk about financial freedom. What is financial freedom to you? Is it about having a certain amount of money that is required to have financial freedom or to have an amount of money which can potentially give you freedom in the future?

It is good to live contentedly and have our expenses commensurate with our income, regardless of its size. At the same time, there is no harm in aspiring for the best in terms of luxury and extravagance.
Following the same example that you mentioned, you can buy a sandwich daily for 5 or 7 dollars, while this represents two months’ salary for a citizen in another country. This same person can travel to your country and collect enough money to become one of the richest people in his country with the same amount of money as he lives a normal life in your country. It is an equation that is subject to many criteria and can be studied from more than one side.

[doomloop]

As per your example, the perfumes were so expensive that a certain person wouldn't be able to afford them. So how can such a person who lives hand to mouth, will be able to invest in bitcoin or gold in order to have financial freedom? He can't unless he does not have ways to earn more money.

It's very difficult for someone who doesn't have wealth as an inheritance to make enough money that they can use for investments that can give them and their family and children a financially safe future. For those who are lucky, their parents or grandparents must have made their empires and now they will inherit that and enjoy the life and the luxuries of it, but those who are deprived of that will have to struggle in their life to earn a bright future.

So, it is only that rich people can invest more and hence they will get better financial freedom. A normal person first may not have the capital to invest and even if he saves some money for investments, the return on small investment may not be that high that it can give financial freedom to him.

Well, for someone who doesn't earn a lot of money, it's difficult to have savings that they can use for investments, because they will have to keep some money that they can use if there is an emergency because it's life, and anything can happen at any given time, and if you don't have any money when you face an emergency, it becomes a problem as you will have to ask your friends, family members, and relatives to lend you some money for the situation.

[mrust_mobile]

This doesn’t make any sense. There are basic products which we use every day that have a price ranging from $1 to $100k. A bottle of perfume is a good example. You can eat fish at home and pay $5 or you can sit in a fancy restaurant and pay $50 for a plate. Every service, every product has a price tag. The latest iphone costs what? $1500? That’s almost quadruple the minimum wage in my country.

[bestcoins1]

This doesn’t make any sense. There are basic products which we use every day that have a price ranging from $1 to $100k. A bottle of perfume is a good example. You can eat fish at home and pay $5 or you can sit in a fancy restaurant and pay $50 for a plate. Every service, every product has a price tag. The latest iphone costs what? $1500? That’s almost quadruple the minimum wage in my country.

Which point does not make sense? I see that every example of the product you mentioned has its own price tag which has been adjusted to suit everyone's needs. And if you don't need an iPhone because it costs that much, you're better off forgetting about the iPhone and buying fish to eat at your own home if that's what you basically need. So there is nothing unreasonable in this world because all products that have a price tag are based on all the costs and benefits contained therein.

Because if you keep comparing the price of an iPhone with the minimum wage in your country and a bottle of perfume with a meal at a fancy restaurant, I think your problems will never end because there are many things that actually don't need to be compared if the features and uses are not the same. So it would be quite reasonable if everyone only needs to look at the things that are currently needed without having to make comparisons that are basically not of the same use.

[mrust_mobile]

This doesn’t make any sense. There are basic products which we use every day that have a price ranging from $1 to $100k. A bottle of perfume is a good example. You can eat fish at home and pay $5 or you can sit in a fancy restaurant and pay $50 for a plate. Every service, every product has a price tag. The latest iphone costs what? $1500? That’s almost quadruple the minimum wage in my country.

Which point does not make sense? I see that every example of the product you mentioned has its own price tag which has been adjusted to suit everyone's needs. And if you don't need an iPhone because it costs that much, you're better off forgetting about the iPhone and buying fish to eat at your own home if that's what you basically need. So there is nothing unreasonable in this world because all products that have a price tag are based on all the costs and benefits contained therein.

Because if you keep comparing the price of an iPhone with the minimum wage in your country and a bottle of perfume with a meal at a fancy restaurant, I think your problems will never end because there are many things that actually don't need to be compared if the features and uses are not the same. So it would be quite reasonable if everyone only needs to look at the things that are currently needed without having to make comparisons that are basically not of the same use.

I am saying that you can find any product for any price if you look for it. Why would I care if an expensive bottle of perfume costs more than my salary? I have a choice to ignore this product. Not everyone has to drive a Lambo. Do we get mad because Lambos cost half a million USD? (Which is way more than what many people have in their life savings) Just buy another car. The point that of owning a car to carry yourself from “point A” to “point B”. The purpose of buying a perfume is to smell good. I am pretty sure there are other products that smell just as good but not as expensive.

[Juse14]

This doesn’t make any sense. There are basic products which we use every day that have a price ranging from $1 to $100k. A bottle of perfume is a good example. You can eat fish at home and pay $5 or you can sit in a fancy restaurant and pay $50 for a plate. Every service, every product has a price tag. The latest iphone costs what? $1500? That’s almost quadruple the minimum wage in my country.

Most of us save and live frugally, the aim is not to have an emergency fund, not to use it as business capital or as initial capital for investing with the aim of increasing our income. However, most of us save with the aim of being able to buy what we want, so we can visit the places we dream of. They don't realize that by doing this, their finances will run out instantly. And people like this will live the same cycle of life, where when their savings run out they will save again so they can buy what they want and visit the places they dream of.

[Learn Bitcoin]

That's sad, to be honest. Recently, I was scrolling through YouTube and saw a video of Ruhi Çenet who was in an African Country Burundi. He was showing how hard life is there. People there work a whole month and earn 30000 Burundian franc which is around $15/month. Can you imagine? A fish cost 40000 Burundian francs. Most of the people never visited any hospital. Unemployment everywhere.

Most of the families cannot afford to educate their children. Relatively poor people eat potatoes and bread. Now, if I compare my life to theirs, I think I should not be sad because I don't make a couple of thousand dollars a month. At least I am happy with what I earn per month and I can still save money for the future.

[Latviand]

This doesn’t make any sense. There are basic products which we use every day that have a price ranging from $1 to $100k. A bottle of perfume is a good example. You can eat fish at home and pay $5 or you can sit in a fancy restaurant and pay $50 for a plate. Every service, every product has a price tag. The latest iphone costs what? $1500? That’s almost quadruple the minimum wage in my country.

Pricing is a matter of cost in labor and sometimes for most luxurious products, subjective opinion of the manufacturer. Now I get that the second part might not be true entirely given that there's really some luxurious products that are expensive due to cost of production and the specialty in labor but I have to tell you that there are some luxurious products out there that are a total bullshit in terms of being priced at, for example is the luxury bags and expensive shoes, I don't believe that they're built how they're advertised to be built, I think they're built by just high-end sweatshops especially the luxury shoes. It's also our fault as a consumer, we blindly consume stuff and so we enable them in a way from producing more shit we don't need but they advertise that we need.

[digaran]

Funny, now lets talk about things that smell bad, for example some people bought sh!* in a can for thousands of dollars, on top of that there are toilet seats made of gold in some houses, so they literally take a dump and a leak on pure gold every time they go to the bathroom.

There is also the story about a tycoon named Korah, in ancient times he lived during the times of Moses the prophet, he was the richest man in the history of mankind even to this date, imagine a truck (or 70 adult camels carrying the keys) filled with only keys to his safes/vaults. I'd suggest to read his story, very educative.😉

[lixer]

imo, as long as you can cover your basic expenses plus a lil bit more, no debt, that's more than enough to say, you are financially stable or independent.

Financial stability and financial independence or freedom are two different things. When you are financially stable, it means that you have enough money to take care of the everyday needs of your household and maybe have some cash available at all times just in case you need money for something so that you don't need to ask someone else for money. You can cover everything independently because you are financially stable and have enough money for now.

Financial independence or financial freedom means to have enough wealth to do whatever you want in your life, without even worrying about working or doing anything because you already have businesses running and there is more money flowing in than being spent, you are not required to think twice before doing something that involves finances because you know you have enough for everything.

[Promocodeudo]

Different people has many meanings to what financial freedom is all about, with such understanding of theirs, it will be difficult for anyone to convince them to believe in what they don understand, they way you see this life, will not be the way I see it, before you say you are financially free, you should be okay with what you have, but that doesn't mean that you have got financial freedom, to my own understanding, financial freedom is a state where individual can afford to get whatever comfort or things he or she wants without asking anyone for it, you can afford to get whatever you desire, if you are not in this, consider yourself as someone who is not financially free.

[alastantiger]

I know it is meant to be a joke but there is a philosophical meaning to it and it is be humble. Whatever you have, someone already has got it. Your salary or income may be on someone's wrist as a Patek, or on someone's neck as a gold chain. Just be humble. On the other hand and not meaning to sound contradictory, that is not his salary though because if you calculate how much he earns per annum, it is more that whatever the price tag is on the bottle of perfume.

Finally, I believe that financial freedom without peace of mind  is not truly financial freedom. It is a combination of mental and financial well being.

[KiaKia]

snip

Thats why the quote is right, "rich get richer, the poor get poorer" because they don't have capital to invest, start a business, etc.
you are right that first we need to earn enough money that will give us big returns on investment, or enough money to start a small business which have high chances to grow and future.
some lucky people are able to get high returns or gain financial freedom because there are very less opportunity like bitcoin in early stage, people who invested early were lucky to gain high returns.

This isn't always the case with all poor people, many of them have the capital but because they are not rich they get so attached to the little they have, and telling such people to invest is like telling them to go back been broke again.

They only know hard work but they don't know about smart money, they aren't trained to take risks they are trained to work very hard all the days of their lives, this is why they have the wrong perspective about making money and getting rich.

This is also why the rich don't like helping the poor at times, because they see the poor as the most greedy people over all, they believe they aren't prepare to risk their money but they can go to the rich seeking for help, where as these rich people risked it all.

[Litzki1990]

Such phenomenon is very normal, what some people earn in a day, some people take a month to earn. There are so many perfumes in the market that we have to work hard for a month to buy them. New series of iPhones are launching in the market and many people are buying those iphones at very high prices but you have seen how many common people are using such expensive brand phones like iphones. The cost depends on the income of the person. The perfume you saw might cost a lot and it would cost you a month's salary to buy that perfume but there are many people who don't think twice to buy such perfumes so we have to assume that those people have enough financial support. I think we don't need to worry about these things because we are fine in the position we are in and we should have our needs from that position.

[Bitstar_coin]

Lol, don't take it personal bro that's life for you. The class difference is real. while some persons can buy several of that perfume worth your salary or even higher others can not even afford to buy the cheapest of it because it will deep a whole in their pocket.
The gap between the rich and the poor is very wide and you just have to either work hard or smart to fill in that gap. Some people will consider buying expensive perfumes or such similar items extravagant spending but the truth is when you are in a position where you can afford to buy literally anything you will definitely have a difference in opinion.

[Gladitorcomeback]

Do you agree or disagree to this? Let me know your thoughts.

There are people of all categories in the world, some have more wealth, some have less and some have very little. There are many rich people whose daily necessities cost more than our monthly expenses. You can build many houses with the amount of money they have for a car. If we look at expensive things and the lifestyle of rich people in this way, we will find our life very difficult. For people who have a very good financial position, using such things is a normal thing.

Therefore, to live your life peacefully, you should never pay attention to these things, yes, if you can change your lifestyle, then work hard for it.Something may be of little importance to you but of great importance to someone else. We all have the desire to use luxurious things but we use such things after looking at our financial position. However, he is always successful who has learned the art of life in every situation.

[Nalain420]

snip

Thats why the quote is right, "rich get richer, the poor get poorer" because they don't have capital to invest, start a business, etc.
you are right that first we need to earn enough money that will give us big returns on investment, or enough money to start a small business which have high chances to grow and future.
some lucky people are able to get high returns or gain financial freedom because there are very less opportunity like bitcoin in early stage, people who invested early were lucky to gain high returns.

In my opinion ,poor are because of their mind of poor people. Poor people  waste their money in useless things like buying mobile phone by installment and they pay 40 -50 percent extra. In comparison ,rich people save money and invest in asset that give high returns to them. They don't waste money by buying sell phone on installment but they buy by liquidity. They invest in businesses and they grow their portfolio and make friends that are knowledgeable person but poor people spend time with useless people and they take useless suggestions by useless people about money .And they remain poor but everyone can be rich by knowledge and struggle.