In
life, we tend to know many things and we often claim that we know
everything, but if we know everything then our quality of life will be
much better than what we are living today. So, even though we know
everything, we are not doing or implementing whatever we know, that is
where the big disconnect comes!
When
I meet 100 out of 98 people, everybody is telling that they have the
shortage of money. I was wondering, how come the individual earning so
much of money, still they left with shortage of money. I keep exploring
this and talked to many individuals, and I found the following, hope it
will be applicable to one and all…
1.
If somebody feel something is shortage and if it is adequately supplied
then the shortage will narrow down. Here, the person who earned Rs.
5000, 15 years before is earning not less than 1 lakh today, and 15
years before also the person felt that shortage of money and today also
the same. Assume the person gets 10 lakhs in few years will also feel
the same.
2.
So the problem is not with the money and how one handles the money, due
to peer pressure and life style spending demands, individual keep
increasing their WANTS bar and there is no end to it, is the main
reason.
3.
In other words, most of us carry a leakage bucket and if someone is
asked about this, then their standard reply would be, I am earning so
much, but could not save anything and in fact, I have not spend anything
unnecessarily. So obviously, the person overlooks something here.
4.
If someone feels that in spite of all his earnings, they could not save
and they are serious about this problem they should seek professional
help.
5.
Professionals will take unbiased look about their individual spending
pattern, and will pluck the holes, so that everything is in order, which
paves the way for creating investment surplus which was not found for
ages!
6.
I believe, irrespective of individuals position and earning capacity,
one is creating 50% resources and the remaining 50% can be, how one
deploys his resources (Money). Unfortunately, 95% of the individuals
miserably failed in using the resources which they earned very hard.
7.
When the individual is putting 100% of their effort to make 50% of the
resources, why don't they hire a professional to manage their resources
with 1% (FEE to the Professionals) of their resource to manage 100%.
8. Since, they are not willing to invest 1% and end up losing 50%, is the big reason for leakage of buckets.
9.
Self-medication will never help, and in the process individual do not
understand what is investment and what for they are investing, and they
always look at the absolute value and never understand what the
purchasing power is!
For
example, most of the individual is happy if they get back their
principle after 5 years also. Because, he got the exact money back, but
in the last 5 years the purchasing power comes down to 50%, so in
reality he lost 50%, which very few understands.
10.
If you look at the past, the individual will not take a call just like
that when it comes to spending; they always consult with their parents
and do it and most of the times they handed over their salary to their
parents. In those days, people spend within their limits, today we are
living in a nuclear family and we spend left right and center
impulsively is the root cause for all the financial problems. No
Control!!!
To conclude that Knowing is one thing and DOING is totally a Different think altogether!!!
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