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How to Align Your Personal Values and Your Financial Wealth

How to Align Your Personal Values and Your Financial Wealth

Something I must confess here! I am emotional eater- whenever I feel emotional, due to any reason, I eat. And I eat out. Eating out cost us money, meaning I can easily bust my budget just because some idiot has pushed me into any sort of emotional drama.

We all, at some point in time, spend just because we feel emotionally charged. To come back to our normal self, we engage into certain external distractions such as eating out or going for movie or even taking a walk outside to get some fresh air.

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Who you are from inside?

Just like we ordinary folks spend money on our emotions, so do the super-rich. I was recently reading about Minecraft owner’s parties in his expensive mansion. He said that he had never felt so isolated in his life as after selling Minecraft to Microsoft. There are other stories like him to where celebrities spend so extravagantly and for many work is the only option left to support their lavish lifestyle.

Are they financially free? I don’t think so because the day, someone like Mayweather stops fighting, he may no longer be in a position to maintain this lifestyle. One wonders why so successful and not so successful people show such irresponsibility when dealing with money and can’t balance their emotions.The answer lies in a simple fact of life! This simple fact is who you are from inside?

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You know, to feel yourself worthy from inside is as important as you feel yourself worthy in your external world. Having a clear sense of self-worth and importance to one’s self is key factor to live a balanced and more fulfilled life- a life which is balanced on all fronts i.e. financial, healthy, relationships and of course our spiritual side.

Externals vs Internal

Let me also make another confession here- I have been victim of what is called keeping up with joneses. I bought every new model of iPhone and Samsung. I was just crazy about them and I paid the price.

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It often happens that our external and internal values differ- this is the result of an internal vs external clash. Externals can push us to spend on things which we later regret however, if internally we feel self-worthy, buying anything would not have a particular value for us. However, if our self-worth or self-esteem is externally directed, we are surely going to spend as much as we can, just to make sure we keep up with joneses.

Values vs numbers

Most often, it is numbers which drive your financial planning process. You prepare excel sheets, buy software or use online tools to crunch numbers- just to see how much you will need to be completely financially free. If you are following this approach, you are clearly failing to address really important issues which go hand in hand with numbers.

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Carl Richards, in his book ‘One Page Financial Plan’ narrated the story of a working woman who was earning a handsome salary, but wanted to be financially free to have a family. This is a great example of giving any financial planning process a more human touch. Having a strong personal reason to plan for secure and successful financial future is as important as drinking water.

Unless one can connect the dots between personal values and numbers, financial planning as a way to achieve financial freedom, pay debts, control expenses, plan for retirement etc. will simply fail. Personal values and why you need money (except off course to fulfil your daily survival needs), are important links to be determined before anyone starts to plan for a secure financial future.

Ask yourself tough questions of why you need money? What are some of your personal values which you believe can only be fulfilled or achieved if you have money?

Featured photo credit: pixabay.com via pixabay.com

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Adnan Manzoor

Data Analyst & Life Coach

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Last Updated on June 25, 2019

5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

5 Books You Must Read if You Want to Be a Millionaire in Your 20’s

Millionaires and billionaires read more than you think. In fact, the likes of Warren Buffet are said to read 1.000 pages a day. As the old saying goes “There’s no smoke without fire”; so, start off with these 5 incredible books!

1. The 48 Laws of Power

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    “If you are unsure of a course of action, do not attempt it. Your doubts and hesitations will infect your execution. Timidity is dangerous: Better to enter with boldness. Any mistakes you commit through audacity are easily corrected with more audacity. Everyone admires the bold; no one honors the timid.”

    On your journey to becoming a millionaire in your 20’s, there will be many people trying to manipulate you into doing what they want. This international bestseller by Robert Greene is the widely read by those in the entertainment industry because of its dog-eat-dog environment. This book is a must-read for anybody who wants to claim power and keep it. it’s a fun read that tells the story of some of the most powerful people in history.

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    An example of a law of power is: Always say less than necessary.

    • When trying to impress, the more you say the more common you look and less in control.
    • Be vague.
    • Powerful people impress and intimidate by saying less.

    2. Influence: The Psychology of Persuasion

    influence-the-psychology-of-persuasion

      “Often we don’t realize that our attitude toward something has been influenced by the number of times we have been exposed to it in the past.”

      This book explains the core strategies people use to influence others using real world examples. Robert Cialdini’s book goes over human quirks like the need to be consistent, and how you can use that in your marketing strategy to make more money. “People’s ability to understand the factors that affect their behaviour is surprisingly poor,” Cialdini says, “which leads to people making poor decisions without realising why.”

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      Cialdini includes real world examples of why people join cults, buy certain jewellery, or give to charity.

      3. Blue Ocean Strategy

      blue-ocean-strategy

        “Value innovation is the cornerstone of blue ocean strategy. We call it value innovation because instead of focusing on beating the competition, you focus on making the competition irrelevant by creating a leap in value for buyers and your company, thereby opening up new and uncontested market space. Value innovation places equal emphasis on value.”

        This book argues that leading companies don’t succeed by battling competitors in “Red Oceans”, but by creating “Blue Oceans” where they have uncontested market space to grow. It goes over case studies like “Cirque Du Soleil” who created a blue ocean by creating a circus platform that didn’t include animals or more than one act on at once but instead, decided to focus on talented performers and music who created a mystical storyline.

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        4. The Fountainhead

        the-fountainhead

          “A man’s spirit is himself. That entity which is his consciousness. To think, to feel, to judge, to act are functions of the ego.”

          The Fountainhead takes place in the United States, mostly in New York City, during the 1920s and 1930s. Billionaire Mark Cuban named his yacht “Fountainhead” after this book. This classic novel is about the struggles of an innovative architect named Howard Roark and his effort to achieve success on his own terms. Many entrepreneurs are inspired by this book because it depicts how you should be uncompromising when it comes to your vision and your goals. If you follow this way of life, you develop the ability to change the world and creating something unique.

          5. The Compound Effect

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            “Do you know how the casinos make so much money in Vegas? Because they track every table, every winner, every hour. Why do Olympic trainers get paid top dollar? Because they track every workout, every calorie, and every micronutrient for their athletes. All winners are trackers.”

            This book is by Darren Hardy the CEO of Success Magazine, he goes over how it’s the small, seemingly insignificant choices that compound to create success or failure over time. No one has a plan to be broke and fat but that’s what happens when you don’t have a plan and go along the path of least resistance. Hardy argues that you cannot improve something until you measure it and to always take 100 percent responsibility for everything that happens to you.

            So, those are five books you must read if you want to give it a try to become a millionaire in your 20’s. What are the best books you have ever read? Leave a comment and share these life-changing books with your friends to help them become successful like you.

            Featured photo credit: Bill Gates Foundation via businessinsider.com

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