The Perfect Money Picture
September 25, 2015, Chennai
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"The biggest Money Rule, all who have Money makes the rules"
It is very important to be realistic in our Money World. Realistic means looking at your Money situation as it is. Generally we don't tend to look at Money as it is. We take a vague impression and most of the issue is in the mind.
For example: We need to pay our debts. We know it but we don't look closely into how much we need to pay.
We keep saying that I spend too much but too much does not make sense unless we put a number to it to quantify it. When we are able to see all our Money Transactions and Issues in perfect numbers than it is reveals a real picture otherwise sadly we would be in a world of illusions.
Please do a small exercise to know about your money picture as of now: take a paper and pen and start answering these questions:
1. How much money are you earning per month as of today?
2. How much was it exactly 1 year back, 2 years back and 3 years back ( This will show your progress in percentage basis of Growth over a period of three years)
3. How much have you roughly earned throug
hout your life. The Amount earned and the Number of years it took to earn this amount (This will show your past potential realistically)
4. How much have you saved in terms of money in cash, bank fixed deposit or in your savings account. Your Total Savings at the present point of time.
(This will show your savings as of now- can be very shocking if we compare it with what you earned all life to what you have now. If the savings are not too high, then it is a danger signal indicating that you have not handled money very perfectly)
5. Do you have any debts? If so, how much is the amount? (It could be personal borrowings, borrowing from bank, etc) Here again if the Debts are high, it is a big danger because somehow the money has been mismanaged.
These are some figures to start with. Now, you should go deeper for more insights into your money reality. Look into areas of your life and just start putting numbers to it and solution would just appear.
Even if you have a goal or a target start putting some
number that you are going to achieve and also the time frame. This way the target will not be vague but specific.
Please remember that only when you have the numbers accounted can you control your money.
Measurement = Control
Never fear numbers or the reality. Even if it is a bad reality you would know what to do. This is the first big step of acceptance which will lead your consciousness to plan and handle money better.
1. Start speaking in precise numbers to gain mastery of money
2. Write down your present blueprint of money as it is
3. Write down your targets in specific numbers along with time frame of achievement
4.When you learn to measure money you learn to gain control of your wealth
Happy measuring each day.
Author of I LOVE MONEY