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Why Is It So Hard To Make Money

Why Is It So Hard To Make Money

While most people are after getting as much money as possible, it is not easy to make money. Therefore, the biggest question that some people ask is why is it so hard to make money despite working hard and looking for money from every possible opportunity.

Possibly, you have come across a podcast, YouTube video, blog article, or newspaper advert explaining how to make six figures online. However, you still have not gotten those huge sums of money. Therefore, you are now wondering why is it so hard to make money at the end of the day.

Key takeaways

  • Making money is hard because it requires a lot of patience and discipline, and not all people are patient or disciplined.
  • You also need diverse skills and knowledge to make money, and not everyone has these skills.
  • Everyone is competing to make more money, making it difficult for everyone looking for money.
  • The instant gratification trap disappoints many people and opens their eyes to the realities of making money.
  • Government policies and regulations limit what people can do to make money.

What it takes to make money

We are in agreement that making money is hard. However, what does it take to make money in developed countries like the United States? It takes a lot of time and dedication to earn a decent income in the U.S.

Regardless of the sector you are in, you have to work or run a business to get money, as there is no free money. In some states, you can make more money by doing the regular 40 hours per week jobs.

Forbes estimates that the average salary in the U.S. is $59,428 per annum. This figure is even higher in some states. For instance, the average salary in Massachusetts is $76,600, $74,870 in New York, and $73,220 in California.

You can also make money by doing business. In fact, some of the richest people in the U.S. make their money from businesses. However, it is also not easy to earn from a business because you have to invest and run your business before you can earn profits.

Sometimes, people earn money online, but it is also not easy. Therefore, why is it so hard to make money online? There is no definite answer to these questions. However, here is a list of 8 reasons why making money is hard.

1. Money-making requires patience

You do not wake up one day and earn large sums of money immediately unless you steal or win the lottery. Definitely, that’s not how a majority of people make money. Therefore, I do not expect you to follow these routes to make money.

The conventional ways of making money require patience. You have to wake up, go to work, deliver some value, or sell something to make money. All these money-generating activities take time, meaning that the making process is not a one-day event.

You have to be patient to make money. Sometimes, you have to wait for hours, days, months, or years to get a good sum of money. According to the U.S. Bureau of Labor Statistics, men in the U.S. work for an average of 8.3 hours a day, while women work for an average of 7.8 hours a day to earn money. Therefore, everyone has to be patient to earn money.

Unfortunately, not everyone is patient enough. Such impatient people find it challenging to make money because they have to wait for long before they get the money.

Some money-generating activities even require you to work for long before you can get any rewards. For instance, some jobs pay after several months, meaning that you have to work for many days before you can earn money. If you are not patient enough, you will find it challenging to wait for that long.

Why Is It So Hard To Make Money

2. Making money requires discipline

You can make money through various ways, including business and being employed. Regardless of the means of making money, you have to be disciplined to make money.

If you are employed, you have to go to work and adhere to the rules even if you do not like them. In the U.S., 161 million people are employed, with 16 million being self-employed. All these people have to abide by the rules of employment and be disciplined to keep their jobs.

The situation is the same for those in business. They have to maintain business ethics to keep their business. Sometimes, it is not easy to remain disciplined all the time, but you are forced to be disciplined for the sake of your job or business.

3. Making money requires knowledge and diverse skills

To earn money, you have to solve someone’s problem. You need knowledge and skills to solve people’s problems. That means that you have to spend time and energy acquiring knowledge and developing skills.

You can acquire knowledge and skills through education and training. You could also acquire skills through apprenticeship or experience. In all these scenarios, you will notice that you have to use your energy, time, and resources to acquire knowledge and skills.

Energy, time, and resources are valuable because they will cost you money. Therefore, you will agree that acquiring skills and knowledge that will enable you to make money is difficult. This can be inferred to mean that making money is a difficult process because you have to acquire skills and knowledge first.

4. There is competition

Many people believe that money is everything. Such people understand that with money, they can get the best life because they can afford the fine things that life can offer. This school of thought motivates people to look for and accumulate as much money as they can.

When everyone is looking for money with the goal of accumulating as much as they can, the competition intensifies. With stiff competition among all the people looking for money, it becomes extremely hard for them to get enough. Therefore, this competition by everyone in the world explains why it is hard to make money.

You are in a competitive jungle where everyone wants money. It is like being in a situation where everyone is trying to stand out in a bustling market full of competitors vying for the same pot of gold.

The globalized economy we live in today has a job market that resembles a densely populated jungle. Regardless of whether you are an entrepreneur launching a startup or an individual seeking employment, you have to stand out from the crowd to earn money.

On top of that, we are in the digital age, where the gig economy is flourishing, and the competition has expanded beyond geographical boundaries. Everyone is trying to carve out their niche, making it increasingly difficult to monetize skills and ideas.

Why Is It So Hard To Make Money

5. The instant gratification trap disappoints many people

Some people are accustomed to instant gratification. As a result, they do not value the idea of delayed rewards. However, they get disappointed when they realize that making money takes time and requires a long-term mindset.

The allure of quick fixes and shortcuts is not a proven path to financial success. Therefore, those who put their hopes on these paths are often disappointed. They realize when it is too late that making money is not as easy as they thought.

6. Risk and reward consideration

Money usually plays hard to get because it loves hanging out in risky neighborhoods. People often consider the risk-to-reward ratio before investing in a business venture. Taking risks can lead to great rewards, but it is also a gamble that can go against your plans.

Due to the risk of loss, there is fear of failure and financial loss, which prevents many from taking the bold steps necessary to make money. Therefore, making money is not easy due to the risks involved in generating more money.

7. Policies and regulations limit what you can do

There are thousands of ways of making money, but not all are legal. The government sets laws and regulations to limit the money-making activities people can engage in. You can only make money within the confines of the law if you want to be on the safe side.

Some of the illegal money-making activities are very lucrative. For instance, drug trafficking is a highly profitable venture, but it is illegal. There are many other outlawed ways of making money, leaving us with a limited list of what we can do to make money.

These examples illustrate how government laws and regulations limit how you can make money. With fewer options for making money, you realize that making money is hard.

8. The landscape is evolving

In the tapestry of human life, the pursuit of money is just one of the many human desires and aspirations. However, a combination of factors that influence the financial landscape keeps evolving, thus making the money-making ventures dynamic.

The way people used to make money 50 years ago is not the way we make money today. Things have evolved, and so have the money-making processes. People are forced to stay updated with the changes, or else they fail to make money.

At the turn of the 21st century, there was the technology boom, which presented many new ways of making money. As a result, people were forced to learn to use technology to remain relevant in the new money-making landscape.

It is not always easy to evolve with the evolving landscape. Some people are forced to go to school or training to adapt to the changes. Therefore, it is clear that the changing landscape has made money-making processes more difficult because people are forced to adapt to the changes.

Making money is not easy!

You must be convinced by now that making money is not a destination but a continuous journey. Like any other long journey, there are many challenges encountered along the way, making the journey difficult.

The same thing happens with money-making. It is hard to make money because there are many factors at play in the process. However, people still make money despite the process being a hard one. You can also make money and live a good life.