Be Inspired, Not Compare To Improve Your Finances
You see the news or hear the story of someone becoming successful in doing something. That's inspiring. How you interpret this will have an influence on your action. What you see in the success story might not be a complete picture. You may not know how many people fail to do that.
You might think what you are doing will not help you to succeed and change your financial situation. You should do what that person does. You keep changing your tracks and in the end, you become disappointed.
When you compare yourself with others, you may feel bad because you see they are doing better than you are. What you are doing is not enough. You want to make progress and improve your financial situation fast. Most people make mistakes when they become desperate and choose to do something in order to get the result quickly.
When we talk about personal finances, you cannot just copay and paste what other people are doing. You should make financial decisions based on your financial situation and risk tolerance level.
Someone can take more risk, maybe he has backup. In case something goes wrong, it will not hurt him financially badly. Are you comfortable taking the risk? Maybe not. Still, you do the same thing taking a high risk. It takes your sleep away from you.
You cannot handle the situation and end up selling your asset at a loss. On the flip side, that person holds his asset and when the price goes up, he makes a huge profit. You are not supposed to do the same thing in the first place.
Again someone does not like to invest in something because he thinks it is too risky and cannot take that risk. But you are capable of taking the risk in order to get a high return. If you don't invest your money there only because that person does not do that, you lose a good investment opportunity.
Personal finance is very personal to you. What is good for others may not good for you. Now the crypto market is on a downtrend, some people do trading in crypto. You see crypto price goes down consistently. Whatever you buy, the price does not go up and you sell at a loss.
But some people do short selling and make a profit in trading. Now if you compare yourself with them and start short-selling, you might lose your trading capital. It is inspiring to see someone making money and doing better at something, but it does not mean you should do that blindly.
Don't make the financial decision comparing yourself with others. It is better to take action based on your strengths and skills. So stop comparing yourself with others. Be inspired to see others and follow your own path.
So what do you think? Please feel free to leave your comments. Thank you for reading this post. That's it for now. I'll be back with another post.
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Hi, I am Rezoanul Vibes. I'm a content creator and passionate learner. I write about lifestyle, finance, martial arts, and digital marketing. I'm glad to meet amazing people all over the world.
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It is true what you mention, we should not compare ourselves with anyone, neither in terms of finances, nor in any other aspect of life. Because the circumstances, advantages, and disadvantages that each particular person has to face when he is on the way to achieving his goals are very different from each other.
Example, if a person achieves with little capital (say, $1000) to become a millionaire after a year of trading, it is something that we can certainly admire, but that hardly anyone can imitate. Because to achieve such a goal, the person had to undergo preparation, a series of learnings, a sequence of trials and errors that most people do not understand when analyzing their success. Because most people only see the result, but do not analyze what it cost or involved to achieve such a result, so they end up thinking that the feat was a stroke of luck, the result of chance, and that anyone can replicate the result with very little effort, provided you're lucky.
This is one of the world's great problems, judging what others obtain a priori and without analyzing what it cost the person to achieve the success that he enjoys. Envy and little or no personal analysis, then puts many people to operate recklessly trying to replicate the result of the successful trader and end up losing all their capital; and then they end up saying that all this trading is a scam and that nobody can make money with it. This is how the world goes, that's why I fully agree with you, we should not compare ourselves with anyone, simply admire what others did, but we must judge our particular circumstances very well; be aware of them and make all our movements very well calculatedly on our way to financial success. .
I liked reading your post, thanks for sharing it. Greetings.
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You brought up some good points. Some people only see the result, they don't know what it takes to get there. So when they try and fail, that's a scam or it's just luck. Without going through a learning curve, it is not possible.
Thank you so much for your thought-provoking comment!
!DIY
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I agree. You should be focused more on yourself and your needs rather than what people view of you. It will pay off in the future if you have a proper plan to follow.
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The time you spend comparing and seeing what other people are doing, you can use the same time to focus on yourself and do better in the future. Thank you for your comment!
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