One simple secret of truly wealthy people that we could all benefit from:
Understanding that price is a function of value and scarcity.
Many valuable things are free because they are not scarce. e.g., the air we breathe.
Many objects of lesser or no value are pricey because they are scarce. e.g., diamonds (or Bitcoins?)
In the times we are living, our brain is trained to equate price with value.
Wisdom of the wealthy lies in:
1. When spending money: being able to differentiate between value and scarcity (often artificially created) and pay accordingly
2. When earning money: knowing that one can't put a price tag to many things that are truly valuable, and hence priceless. e. g., health, love, character, friendship, peace of mind. Don't trade these away at any price.
#priceless #money #wealth