4 Types Of Wealth
The term "wealth" is not limited to material possessions, and understanding what it means to be affluent from this perspective is limited. Our health, relationships, finances, and free time are just a few examples of the various factors that make up wealth, which can be divided into four categories:
Money (Financial Wealth)
Status (Social Wealth)
Freedom (Time Wealth)
Health (Physical Wealth)
Must Read :- Biggest Money Mistakes.
So let's discuss in detail,
- Money (Financial Wealth) :-
Financial independence from all other financial crises comes from having enough money to do more of what you want.
They want to be financially knowledgeable, which includes having a solid understanding of topics like investments, savings, and budgeting. Imagine yourself in the future, free from financial concerns. How would that affect your emotions and how would it alter the way you interacted with others, the world, and your family?
- Status (Community/Social Wealth):-
The underappreciated wealth is social wealth. Although having status can be rewarding, who would have thought of it as a source of wealth? Do you know the expression "keeping up with the Joneses" and the obsession that goes along with it? Taking on debt repeatedly to purchase trendy items can result in a severe financial and emotional collapse.
Social wealth mostly stems from one's interactions with others and, sure, from having expensive vehicles, homes, and an attractive appearance, but it also has a lot to do with the kind of character one develops and how others view it.
- Freedom (Time Wealth) :-
Being free means having our own time to spend however, wherever, and however we like.
The bulk of us secretly long for time. However, because we devote a lot of our time to making money and elevating our position, time is something that is scarce for the bulk of us in the current world.
We must all be aware of the passing of time if we are to completely accept freedom. It is the one thing we cannot get back and is unquestionably against us.
- Health (Physical Wealth) :-
All other forms of riches and our lives are held together by the glue that is our health. None of the other forms of wealth are possible without good health, at least not in a long-term, sustainable way.
Most people don't realise that ultimate riches is health. We neglect to make investments in our bodies and minds and aren't even aware that doing so is important for accumulating all kinds of wealth.
We may simply improve our health if we have the appropriate attitude. Simple adjustments to our diet, sleep, and activity levels can make a big difference. Combining it with reading to learn more about our bodies and minds and interacting with the proper people can help us become more aware of our bodies and minds.
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