Do your finances seem like a black hole? Money comes in, maybe even lots of it, but it gets sucked into nowhere and you’re not sure how it happened? This may occur for lots of reasons, but the biggest is biting off more than you chew (or pay for). Another way of saying this is you are not living within your means. For example:
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If you are wishing for more prosperity or desiring wealth, it requires attention and knowledge on multiple levels. There are three levels of consciousness to transform your relationship with money.
In the “real” external or outer world, we must gain and understand financial knowledge. We educate ourselves about income and expenses, investing, taxes, and the importance of savings. We read books, watch television programs, attend classes and learn about the stock market, planning for retirement, how to ask for a raise, how to cut our taxes, and managing money. Here is where we develop skills, acquire tools, and use our experience to make sound decisions. At this level, it is our lack of knowledge and skill most likely to trip us up.
We also must understand our feelings, thoughts, beliefs and values around money, prosperity, wealth, poverty, and all that entails. From early childhood we have absorbed lessons, true and untrue, and developed beliefs about money from parents, school, friends, the media, our religions and our cultures. Our values around money, wealth, work, poverty and other money-related issues were also formed early on. We are still absorbing messages about money, especially in the western cultures where money is “king”. Your unconscious beliefs or values can negatively or positively affect your ability to choose wisely. Making these beliefs conscious and determining whether they are still useful to you may enable you to make better choices and have what you desire. There are many tools and techniques available to bring these beliefs to light including simple ones like asking yourself questions about what you believe and why.
The last way we affect prosperity is through our spiritual practices and understanding. It helps to learn about the spiritual laws governing prosperity and abundance in our lives. These include having clear insight into who you are, and your place in the world. It includes understanding the interconnectedness of all living things and the planet. For many of us, having clarity and congruency, living an authentic life, understanding the laws of attraction, and being in touch with our inner spirit or self (sometimes called higher self are necessary steps in transforming our relationship with money. And most importantly, having intense gratitude for all we already have.
Mary Anne Fields is a Personal Coach, Trainer & Speaker specializing in the areas of life transitions, your relationship with money, simplifying your life, preparing for retirement and living your dreams. For more information about Life Unfolds, see http://www.lifeunfolds.com.
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Ben Stein has a book called How to Ruin Your Finances. To be honest, I’m not sure an entire book is needed on the subjectthere are some fairly quick and easy ways to accomplish the task. (Before continuing, let me be clear that I do not actually recommend such activitiesThis is a reductio absurdum argument, meant to spur an opposing realization.)
#1: Buy everything, yes, everything
You never know when a neighbor may come over to use your dish towels, so make sure they are Ralph Lauren, less than six months old, and all the same color. While you’re at it, buy things that you don’t need now, but may need in the future, such as eleven new sweaters, a top-of-the-line treadmill, and some bestselling novels (just in case you ever read the 38 already on your bookshelf).
#2: Charge all purchases
That way you can itemize all your spending, which is sort of like budgeting. When the bill comes each month, be consistentpay only the minimum. If there’s anything left at the end of the month, see #1.
#3: Don’t be concerned about retirement
That’s what Social Security is for! Our country is run by intelligent economists, and they’ll make certain there’s enough for you in 25 years.
#4: Buy a $4 million home, with 1% down, and a 30-year mortgage
Then, spend your entire working life paying it off. Don’t worry if you haven’t invested in anything elseyou can sell the home when you reach 65, rapidly adjust your lifestyle to match your new one-bedroom condo, and live off the difference.
#5: Start being frugal ‘tomorrow’
Please, finish your $7 mocha latte and go about your day. After all, this article was obviously written for the other guy!
© 2005 Matthew S. Clement, All rights reserved
Matthew S. Clement is a financial planner and investment advisor representative with Financial Network Investment Corporation, member SIPC. He provides holistic wealth management and retirement planning to individuals and businesses. He can be reached in New York at (845) 942-8578, or by email: ClementM@FinancialNetwork.com
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