Hey, readers welcome back. I hope you are doing well and I am sending lots of positivity to all of you.
Money is one of the essentials in our lives cause that’s what we are living for and working hard.
Most important we can fulfill our basic needs such as food, shelter, and cloth.
But did you know that money has its types? Yes. It’s classified into two classes:-
New Money.
Old Money.
So, in today’s blog post we’ll be talking about new money and old money we’ll discuss in the next blog post.
So, the question is:-
What Exactly New Money Is?
New Money is a type of money or wealth that has been earned.
A person who has acquired wealth by working hard without inheriting it.
New Money or Nouveau Riche are people who’ve built their wealth in the current generation.
In simple terms, they are the first ones in their ancestral lineage who have made money without inheriting it. Self-made personnel.
Today times have changed.
The internet has created a plethora of industries and we see changes in the list of the world’s billionaires list daily. Every second there’s a new billionaire on the list.
Right from tech entrepreneurs, athletes to social media influencers and movies/tv stars. Or even an individual who started a business from scratch.
New money invests in the short term.
New money is a type of money that focuses on the present.
Now. Well, that’s because the new money is hot, follows the trend, and is bombarded with a lot of competition. There’s a competitive advantage to cash in money.
New money comes with high risk, high reward.
With that new money spends on trends. They follow trends. They are the trend.
It’s bold and wild. Grabs attention all the time.
New money wants to be a part of the conversation about the world that is currently changing.
Let’s keep this thing in mind to understand new money, the new money is buying Cryptos, NFTs. Classy isn’t it?
New money talks about money all the time. It rushes adrenaline.
It’s exciting.
Makes you think that how much you can do with money cause it’s fresh.
They never had it before.
New money is fast and always in a hurry.
New money lives in the age of speed.
New money has a to-do list and calendars and goes through it as quickly as possible and posts their achievements on social media.
New money is open to new people.
It’s more relatable to the average person they’re living the dream most of us have, to make it big despite our current circumstances and that’s why they connect differently with people.
They’re not snobbish or shy sway from normal things.
Hence, new money is fresh, fast, tech-savvy, and always thinking about making more money.
They understand the trends, marketplace and are self-learners. Let’s dive deep into the topic and understand the signs of new money.
Also Read:- How To Think About Money?
10 Signs That You’re New Money:-
There are both good and signs of new money. So, without any further adieu here are 10 astonishing signs that you are New Money:-
Your money is digital:-
It’s not gold bars or renaissance art hanging on the wall.
You are the one who most likely builds a company, takes the company public via IPO, or sold it, or still uses it as a cash cow.
When the money hits your bank account it’s all digital.
Sure you have other investments but you can see the bulk of it simply by refreshing the screen of your phone.
This allows you unparalleled access to your funds and can move at will.
You made the money yourself:-
Sure, you are a self-made individual.
You had to work hard to earn the wealth, you were not born with a golden spoon.
Nobody handed it to you and you take pride in that.
It’s only you or the people in your close circle who have been a part of your journey and know how hard you have worked and got that initial traction.
Only you know the hungry sleepless nights where your mind kept tinkering at building wealth and a ticket to freedom.
You wanna show people that you have money:-
Since you have dedicated time and effort to build an empire, it validates you in their eyes.
So, that’s the difference between building wealth on your own and inheriting it. When you earned it by yourself of course you want to boost it. Flaunt it.
And you see it as the reward for all the hard work and struggles you have gone through. This translates into everything you do.
For example, you drive Ferrari. The car stands out! You buy a top-floor penthouse cause you don’t want anybody to be above you!
These are the dreams that run in your mind constantly once you reach that level.
You are the driver of your destiny and you drove yourself to the top.
Your ego is fragile cause people have come at you before, but you are still working on it.
You don’t wanna lose your temper, but some people just rub you the wrong way.
You also have sharp eyes for the snakes hiding in the grass and you know they want what you have.
You disrupted the industry and became rich:-
Times have changed.
Earlier there was an old way of doing things and following that particular set of sequences but that’s not how things change.
Instead, you found a better way for doing things.
You leveraged technology and the tools of today, built yourself not only a better mousetrap but a better way of doing business.
It required fewer people, more software and leveraged the power of other people’s ecosystems to get there.
We are living in a modern world where things are changing rapidly.
You are doing business from your laptop or even better a smartphone.
You hire people that you have never met in person and you only get to touch the product when you are designing it or running quality checks.
This is the new economy, readers!
You are a self-learner:-
Schools don’t teach you things like starting a business, how to get seed funding for your business, how to design a product, how to market it.
These are all practical things, you see street smart things.
You got excited about the space and started monitoring it closely.
At some point, this particular idea clicked you and you saw a window of opportunities.
You continued to work on the idea on your own even to this day.
It’s funny that you are spending money to learn because you get to choose the information that you need to grow further.
Self-education or self-learning is the thing that is essential to growing.
And if only others will listen you’ll share the knowledge that you have gained.
It’s like giving back to society.
Look back to the times when you were in high school and the people you were with.
While you were building a business empire and learning from experiences, the A-grade students have settled for mediocre jobs that’s because they have stopped learning after graduation.
Life is all about learning.
Observe successful people they are avid learners, they learn from practical experiences.
And the most important skill to learn is learning how to learn and if you master this then you’ll nail it!
You are the first in your lineage:-
Well, new money is a class of money that doesn’t talk about parents.
They usually had a shitty or disturbing childhood.
This is the one thing that motivated them.
Pushed you to work hard.
The only way for escaping poverty was being successful and if you can connect with this idea then hit that like button, so I know that we are not alone.
Your parents didn’t have much, your grandparents didn’t have much.
It’s you that broke the stereotype and got as far as you did.
It makes you feel proud cause you are the one that has reached so far and you see yourself as the one link in the chain that changes the destiny of your lineage.
You are not born into a rich family, but it changes with you!
You love media attention and want to thrive in it:-
Well, once you reach the level of success, things start to shape up.
Here’s a paradox, you are an introvert that deep down wishes to be a rockstar.
You want people to love you. Know you.
You love watching yourself on the big screen.
You enjoy seeing others marvel at your luminosity. It validates you!
Slowly you start to understand just how impactful attention is and that those who command it control the future.
This is where Public Relations and Advertising play a key role in creating a clean image so that you gain media traction.
You are a risk-taker:-
The biggest risk is not taking the risk.
Well, you would have never been where you are today if you would have played safe.
The type of leaps you had in your life doesn’t happen linearly.
That’s why you had to be bold. Go exponential.
You had to compound the risk to connect dots in a way that resulted in the type of rewards you enjoy today.
High risk=high rewards. You love taking risks as long as the rewards are worth it.
You have specialized knowledge:-
In simple words, you know your shit when it comes to the industry that you’re in.
You know the workings of the industry that you are into.
You’re competing on a global level and so you have to become a master.
You see it takes 10,000 hours to master a skill.
It could be any skill such as coding, selling, marketing, designing, social media, writing, etc.
Not only do you understand your business, you understand the model and where the industry is heading.
Having this basic understanding has allowed you to stay on top of the wave for a while now.
You can adjust, adapt, reinvent yourself for the changes in the environment.
As long as there is a demand for your specialized knowledge you’ll never starve.
There will be someone who’ll pay you for what you know.
It’s an invaluable asset.
Those who can take the specialized knowledge to the next level are the ones who’ll become kings and queens of the new space.
You have a small circle that comprises people who came up with you:-
The world is filled with all sorts of people.
Nobody gets you. You don’t have that many friends.
You lost a bunch along the way.
It’s not loneliness, it’s you and the few people you brought with you!
You prefer it this way.
There are a handful of people who understand what you went through, they have seen your struggles, who shared their version of struggles with you.
Well, that’s what it is, the circle is small, but the value is high.
If you think there aren’t many around you...well good, a Ferrari has two seats, whereas a van has forty seats, choose your ride.
That’s a wrap, 10 signs that you are new money. Before I wrap up, tell me,
Would you rather be new money or old money? Share your thoughts in the comments section below.
And for those who are sticking around here’s a
BONUS:-
You don’t think your children should have access to all your wealth:-
This particular fact baffles me. But somewhat it’s true.
You wouldn’t be here if everything was handed out to you.
You simply find no reason to struggle and work hard as you did or still do.
All these efforts are made so that the future generation has even more options than you did.
The goal is that your children have enough money to do anything that they want, but not enough to not do anything at all!
Even I agree with this particular thesis when it comes to raising children, rather than giving a platter filled with food, it’s important to push your kids forward so that they work hard, understand the value of time and money.
New money is the result of maximizing the impact of the present.
Thank you. Like and share.