Having a Money Mindset

You still don’t understand money

A simple question

What is money worth?

Money is worth based on how much someone is willing to pay

The issue is most money advice, just doesn’t work for people like us in Pakistan.

We don’t have massive stock portfolio options, we don’t have government-funded Roth IRA (EOBI sucks before you say anything), and there is no clear credit scoring systems in place — so most financial content, catered to the West, just doesn’t work here.

What do we need then? A mindset shift

Now this is not going to be the next Rich Dad, Poor Dad — what it is instead, is advice grounded in reality, advice that applies to us.

3 mindsets you need to adopt — Easier said than done

1) Saving Does Not Matter!

When your average income is around 200 USD/month, following the famous 50–30–20 rule you will save 40 USD, right?

Do some quick math, if you save 40 USD every month, it will take you almost 20 years to save up to 10,000 USD — the average price of the cheapest car/sedan right now in Pakistan (lord knows what it’ll be in 20 years)

The thing is, besides the typical cost of living transactions, ‘stuff’ is still expensive even in Pakistan:

  • Our cars cost similar to cars in the States
  • Our iPhones, funnily enough, cost more (Thank You PTA)
  • Even our Houses cost the same as most of the world (given you equate for infrastructure)


Our average earning is 20 times less than that of a country like US

What do you do then?

Earn more!

Easier said than done, but we are talking about a mindset shift here

Next time, instead of thinking to save 10 bucks, think of how you can make 20 more. This simple mindset is effective if you practice it daily, it will force you to focus on the right things.

You will never get stable by saving 20%, you need to earn 100% more first, then worry about savings.

Trust me, next time you think of saving money to buy your next fridge, instead think of making more money to fulfill that need — the doors do open to the willing.

2) You are not ‘asking’ for money

Often times when I counsel my peers, especially those who aren’t getting paid their worth, this sentence comes up as a response:

‘Saqib Bhai Mangtay huway bura lgta hai’

‘Saqib, I feel ashamed to ask for more money’

Listen, it might not seem that dramatic translated to English, but this again is another mindset issue prevalent among people who don’t understand how money works.

See you are not asking for more money, you are asking for your worth to be paid fairly.

Next time you go for a raise, defend the ask with evidence, show your potential, translate it to value, and present the fact that you are not asking for more money, you are asking to be valued.

Stay subscribed, I do plan to release raise-asking process that helped me grow immensely soon.

3) Learn to calculate the value of everything

As you progress in life, being on the path of success, you will quickly realize, there is an opportunity cost to everything.

Opportunity Cost: the loss of other alternatives when one alternative is chosen.

The problem arises when we fail to properly evaluate the choices we have in life.

Every big business will convert every decision of theirs to monetary value.

Frameworks like Fear Setting (https://tim.blog/2017/05/15/fear-setting/) help you understand the cost of your choices or lack thereof

Workshops like this (https://thefuturishere.com/stcw/?__s=vp6wd78u3abp0r8yywwu) help you understand the value of outsourcing work

In the end, the mindset shift you need to have is, that everything has a value, everything you do, everything you experience, and everything you stand for — has a price (sounds depressing, it is).

And when you get really good at calculating the value of everything down to the penny, you learn to make decisions that fulfill you.

Months ago, I made the decision to make the most money possible within a month –
I failed –
because in order to do so I would have to work 16 hours a day — an activity I don’t value enough

Months later, I shifted my mindset to — how about let’s make the same money, but work as less as possible –
I succeeded –
and now my free time lets me write this for you — something that is more valuable to me

To sum it up:

1 — Forget saving, first learn to earn, then worry about it

2 — Learn to ask the right way, know your worth, and show your worth

3 — Everything has a price, and knowing that will help you cherish value better