Heal Your Money, Heal Your Life
kayode kolade
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Dear High Performer,
Every true transformation is sparked by the sincere conversations we have with ourselves. ?
15 Life-changing tips I would give my younger self.
That was the name of a podcast episode by Ed Mylett I listened to recently.
Ed, a best-selling author and Entrepreneur, in the podcast talks about the profound impact reading has made on his life.
Specifically he recommends 12 books that anyone and everyone should read.
These 12 books are classics that remind us of the importance of...
Going back to our foundation as we march full force into our great future.
From that list, I am currently reading The Richest Man In Babylon by George Clason.
In the book, the richest man in Babylon hosts a special class where he shows the city residents how to become wealthy.
He calls his special Masterclass, The 7 cures for a lean purse.
The super cool thing is that these strategies don't just apply to finances...
They also apply to other areas of life.
7 Cures to a Lean Purse
1. Preserve Your Income
"If you consistently put 10 eggs in a basket and take out only 9...
What's eventually going to happen is the basket will overflow."
This is the illustration the richest man in Babylon uses for his first lesson in becoming wealthy.
Don't spend everything.
Keep something back.
To him that hath, more will be given...
But to him that hath not, even that which he has will be taken away from him.
There's much oil in the dwelling of the wise but the foolish person squanders it all*.
It is wisdom not to spend everything.
It is wisdom to keep something.
It is a life principle.
When we refuse to spend everything in our purse,
What we keep attracts more of it's kind.
No farmer eats his seed and harvest, If not that farmer will beg during the next harvest.
2. Prioritize Spending
Be a conscious spender.
It's very important to be able to differentiate between your desires and random wants.
We cannot satisfy all the desires we have.
To try, is to sign up for a life of constant struggle and frustration.
People who struggle financially have this idea that people who have it made can have all they desire.
They don't realize that there's no level you get to in life where you'll ever be able to satisfy every desire.
It's just the way life is designed.
This is why a budget is so important.
The idea of a budget is to identify the things that really matter to us and spend on those...
And ruthlessly cut back on everything else.
A budget is not meant to cage or restrict us...
It's our key to a life of freedom.
If a donkey was going on a long journey through the desert...
And had the option of picking out it's supplies for the trip...
What would it choose?
Definitely any and every thing that can protect it from the sun and from suffering dehydration.
That's the illustration the richest man gives to drive home his point.
On our journey to destiny, a budget helps us to channel our resources wisely.
As long as we keep giving time, energy, attention and money to fantasies and wishes...
We have nothing left for our desires.
We can either feed our distractions...
Or feed our dreams.
But we can't do both.
3. Put Money to Work
It's interesting that the same organization certain people dream of working for...
Is the same organization other people send their money to, to work on their behalf.
It's all a matter of perspective.
To heal our money we need to move from the mindset of working for money...
To the mindset of putting our money to work.
To see our monies as are our most trusted employees of our personal conglomerate.
We cannot master something we work for.
I recently came across the story of a Burger King employee who just retired.
His reward for working 27 years without missing a single day of work...
Was a goody bag... his colleagues, not the company, put together for him....
And $400k from a GoFundMe campaign started by his daughter.
Like with any story, there are probably certain missing pieces of the puzzle.
But the point is, having your money work for you in an organization for 27 years is better than...
Working for money, giving your best years to that organization and...
Depending on the organization to determine your destiny.
It's just such a powerful paradigm shift when you invest in a company...
And you see all the employees hurrying to get to work in the morning to make you money.
Money sitting idle loses value.
Money put to work reproduces itself...
And becomes a stream of wealth flowing constantly into your purse.
4. Protect Against Loss
'Don't trust a brick maker's advice about buying jewels,'
The richest man in Babylon says.
In other words, as we go about putting our money to work,
We need to protect our money by seeking counsel from experienced and trusted sources.
This is so that our quest to make gain doesn't result in the loss of our principal and promised profit.
'In the multitude of counselors, there is safety.'**
Good understanding gains favor.***
Only invest in what you understand.
Gains follow understanding.
But when understanding is absent, loss is usually the result.
Go for understanding.
5. Posses Your Own Home
In this age of digital nomads and suitcase entrepreneurs,
Not everyone has the dream of owning a house.
But one thing everyone dreams of, is building something they can call their own.
What does freedom mean to you?
You must know this for you.
Whatever freedom means to you...
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We need to always remember that those dreams are valid.
What's important is to own that dream.
Stop paying rent to someone else's dream while you neglect to build your own.
'Many blessings come to the man who owns his own house.
It greatly reduces the cost of living...
And makes available more of his earnings for his desires.'
Your own home is your dream.
Whether it's setting a new standard for your family...
Having your gifts and talents impact the world in a greater way...
Or to actually own your own dream home....
Whatever it is for you...
Own it.
Build it.
6. Plan for the future
The past few days I have been confronted with the idea, more times than I would have liked,
That I'm not going to stay young forever.
And while I'm careful not to allow any negative thought take root in my heart...
I'm also talking to myself to be more intentional about planning for the future.
It is good for a man to bear his yoke in his youth.****
It's all about time and timing.
When we realize we have just a window to do the things we need to do...
It makes us take the issue of money more seriously.
The more thoughtful we are of the future...
The more disciplined we are in the present.
The goal is to buy our future by being deliberate about how we invest our time, energy, attention and money in the present.
Invest your energy wisely now.
Invest your beauty intelligently now.
'To provide in advance for the needs of our growing age...
And the protection of our family,'
This is wisdom...
And the 6th way we heal our money.
7. Pursue Growth
'There's a limit to how much you can cut back...
But there's no limit to how much you can earn.' - Ramit Sethi (Author of I Will Teach You To Be Rich)
To heal our money we need to have a strong desire to increase our earnings.
What's the definition of a strong desire?
A desire that is simple and specific. Too many vague desires out there.
'For a man to wish to be rich is of little purpose...
For a man to desire five pieces of gold is a tangible desire,'
The richest man in Babylon says.
As we learn and train ourselves to earn our first $1,000...
We build the muscle to earn $2,000.
'To cultivate our own powers...
To study and become wiser...
To become more skillful...
To act in a respectful way...
This is the way we build the confidence to achieve our desires.'
This is the way we increase our ability to earn.
Physician Heal Thyself
When it comes to healing our money we need to remember that we are our own physicians.
The power to heal our finances is not in any one's hands...
The power is in our hands.
Healing belongs to us...
And that healing is in our hands.
The best advice and the most powerful truth we will ever get...
Is the truth we tell ourselves.
It's time to have a very intentional conversation with ourselves.
Every true transformation is sparked by that sincere and honest conversation with ourselves.
We don't have to be perfect...
We just have to be honest.
Until we are honest with ourselves,
We can't see the areas we need to make the necessary changes.
The richest man in Babylon has given us 7 big ideas to heal our finances and our lives...
The responsibility is on us to apply these principles to our lives.
It's your responsibility to...
Preserve your income.
Don't spend everything.
To him that hath more will be given.
Prioritize Spending.
Channel your resources into the things that matter to you.
Ruthlessly cut back on everything else.
Put money to work.
Money is your employee.
Make it work for you.
Protect against loss.
Go for counsel.
Go for understanding.
Understanding brings gains.
Possess your own home.
Your dream is your home.
Are you focused on building your dream or are you paying rent to someone else's?
Prepare for the future.
Make the most of the present.
Bear your yoke in your youth.
Pursue growth.
Set specific money goals.
Increase your wisdom and refine your skills.
Healing belongs to you.
The power is in your hands.
YOUR GREATNESS IS VERY SURE ??
NOTES Proverbs 21:20 (KJV)? * Proverbs 11:14 (KJV)? ***Proverbs 13:15 (NLV)? **** Lamentations 3:27 (KJV)?
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