The primary reason for financial
problems in life is lack of self discipline, self mastery, and self control. It
is the inability to delay gratification in the short term. It is the tendency
for people to spend everything they earn and a little more besides, usually
supplemented by loans and credit card debt. Today, the savings rate in India is
too low to achieve financial independence. After a lifetime of work, the
average family doesn't have enough savings so people continue to spend and
borrow as if there is no tomorrow.
The good news is that we are living in the most affluent time in
all of human history. There are more opportunities to achieve wealth and
prosperity today, for more people, in more different ways, than have ever
existed in the history of man. It has never been more possible for you to
achieve financial independence than right now. But you must make a resolution
to do it, and then follow through on your resolution.
The Reasons for Financial Problems
The primary reason that most
adults have financial problems is not
because of low earnings. The reason is lack of self discipline and the
inability to delay gratification. Why is this weakness of character so
prevalent among the majority of adults in society today? It goes back to early
childhood.
When you were a child and you received money (whether it was your
allowance or a gift from a friend or relative), the first thing you thought of
doing was to spend that money on candy. Candy is sweet. Candy is delicious.
Candy fills your mouth with a wonderful, sugary flavor. You liked candy when
you were a child, and you probably could seldom get enough of it. Many children
will eat candy until they become physically ill because it tastes so good.
As you grew older, you developed what psychologists call a
“conditioned response” to receiving money from any source. Like Pavlov’s dog,
when you receive money, you mentally salivate at the thought of spending this
money on something that makes you happy, at least temporarily.
Spending Makes You Happy
When you become an adult and you earn or receive money, this
automatic reaction continues. Your first thought is, “How can I spend this
money to achieve immediate pleasure?”
When you go on vacation to a resort of any kind, you find that the
hotels and streets are lined with shops selling useless trinkets, bobbles and
trash, plus clothes, artwork, and other items that you would never think of
buying at home. Why is this? Simple, when you are on vacation, you feel happy.
You have a conditioned response to associate happiness with spending money. The
happier you are, the more unconsciously compelled you are to go out and spend
money on something, or on anything.
It is quite common for many people, when they are unhappy or
frustrated for any reason, to go shopping. They unconsciously associate buying
something with being happy. When it doesn’t work as they expected, they buy
something else. Sometimes, unhappy people go on shopping sprees. They buy lots
of things that they don’t particularly need because they unconsciously
associate spending with happiness.
Use Self Discipline to Rewire Your
Responses about Money
The starting point of achieving financial independence is to for you use
self discipline to rewire your attitude towards money. You reach into your
subconscious mind and disconnect the wire linking “spending” and “happiness.”
You then reconnect that “happiness” wire to the “saving and investing” wire.
To reinforce this shift in thinking, and eliminate financial
problems open up a “financial freedom account” at your local bank. This is the
account in which you deposit money for the long term. Once your money goes into
this account, you resolve that you will never spend it on anything except to
achieve financial freedom.
Associate Happiness with Financial
Independence
When you begin saving in this way, something miraculous happens
within you. You start to feel happy about the idea of having money in the bank.
Even if you only open your account with `10, this
action gives you a feeling of greater self-control and personal power. You feel
happier about yourself.
Because the money in your account is emotionalized by your own
thoughts and feelings, it sets up a force field of energy that begins to attract
more money into it. If you save 10 a month for a year, you will be astonished
to find that with the extra bits of money that you have put into that account,
you will probably have more than `200,
rather than just `120. If you save100 per month,
you will probably have more than `2,000
The more money you have in your bank account, the more energy it
generates and the more money is attracted into your life. You have heard it
said that, “It takes money to make money.” This is true. As you begin to save
and accumulate money, the universe begins to direct more and more money towards
you, to save and accumulate.
Everyone who has ever practiced this principle of regular saving
is absolutely astonished at how quickly their financial problems change for the
better.
The rule for financial independence, once you have rewired your
attitude toward money, is to “Pay yourself first.” Most people save whatever is
left over after their monthly expenses, if there is anything left over. The key
however is to pay yourself first, off the top, of every amount of money you
receive.
To know more about how to get out of your debt attend India's first ever exclusive workshop on Debt Management and bring a change in your life forever.
G.O.O.D (Get Out Of Debt) seminar on 7th September 2013
Please feel free to contact for registration and any other details on 022-65652022 and 8898838887 or mail us at info@missionhappyworld.com
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