An Important Financial Advice For The 21st Century Youth

An Important Financial Advice For The 21st Century Youth
In the early 1990s, Henry Ford, the founder of the Ford Motor Company announced that he'd start paying his employees a remarkable $5 a day.
This announcement was welcomed with a great joy as prior to that, the average daily wage in an automobile company was $2.34. Other industries like the coal mining and steel industries were paying $2.50 and $1.75 respectively.
What happened next was something that could be compared to a gold rush …
An Important Financial Advice For The 21st Century Youth
Image credit: Quora
Overnight, more than 10,000 men arrived at Ford’s plant in pursuit of the employment opportunity.
An Important Financial Advice For The 21st Century Youth

Now, did Mr. Ford encounter any issues finding workers?
I don't think say, or do you?

So who had the problem?
An Important Financial Advice For The 21st Century Youth
Image credit: Quora
The over 10,000 men who left their houses in search of work.
Now imagine having over 10,000 people coming to apply for a job? He must have been picky. I'd compare it to the BB Naija audition process that thousands of people assembled to compete for a position available to only 21 people.

But in his case he needed probably needed a few hundred individuals daily. This is great, but who was in control? The people or Mr Ford?

In economics, when demand remains constant (or gets reduced), oversupply pushes the price of a commodity DOWN!
Image credit: Quora
Take a moment to look at the graph above, I suggest you save it in your phone to help you remember it later.
An Important Financial Advice For The 21st Century Youth
Because if you’re a commodity in the marketplace, you’re being depreciated.

The higher the number of people interested in a job, the cheaper the job will become.

In 2020 the case is getting worse...automation is taking over the jobs from humans. Whether you call the job white collar or blue collar, the computers are seriously taking over your jobs.

The more advanced the world is becoming, the cheaper your job is becoming. Accounting software are taking over the jobs of humans, same applies to other categories.

Did your teacher tell you this in school?

Yes? No?

Oh...maybe he forgot or did they purposely ignore it? 

Well, sorry to burst the college bubble you’ve been SOLD.

Did the college offer you any guarantee like 'Get a job immediately after school or get your money back?' 

Lol...no college would do that anyways!

Now what is the important financial advice?
You can NEVER achieve financial freedom by implementing all your expensive college skills.

Where should you focus your efforts?
• Be conscious of the fact that each single kobo you'll ever make in your life will come from other people. Not from machines, your smartphones or that your precious computer.
Don't get me wrong, you can actually make money online but you must have to deliver a service or product to someone.
• To earn, you have to be focused on providing values. It can be a product, service or even an information. In all, you can only get compensated for what you DELIVER.
• Your followers or customers don't care about how hardworking you have or how many college degrees you possess, they only care about how valuable your goods or services are. The want to know about what you can offer and how it can improve their lives.
• Stop being focused on improving your lives, instead work on your products and services. That's what really matters.

According to Hector Quintanilla, the founder of DigitalAgeEducation.com, in an economy of abundance, nobody cares about your value — value is found delivering to other people what THEY want.

Thanks for reading along, if this article improved your life, don't forget to drop us a comment and share with your friends. Also read our next article on 5 reasons why degree holders are poor (and how to escape it).
Next Post »