A plan that will always work

This week, I was reminded how hard it is to balance life.  There are times when I feel like I am failing at being a mother, a wife, a daughter, a business owner, you name it.  But, I was also reminded that balancing life is about prioritizing.  I’ve learn a few things about prioritizing money from James Richie.  And I thought it applies to our life perfectly as well.  

But before that, let me talk a little bit about money.  And I know it’s a sensitive topic, but I know it’s also a necessary topic.  So what do I think about money?  I have a positive feeling about money.  There are times that I feel confused or frustrated, and wish that I have all the money in the world, or wish that there’s no money in this world, and everyone just love each other.  But I believe money is a way for us to trade things in a fair way, and is necessary for our life.  Thus, I believe the way you view money can affect the way you live, and even the way people live generations after generations.  Like I mentioned before about business, if you do something because you love the money, when it’s not making money, you don’t want to do it, or you might even do things and ways that might harm others to get to where you want to be.  But if you do something simply because you love what you do, and money doesn’t matter, you will always have courage and kindness towards the others.  So the way you view money matters.  And in order for us to really prosper, we must prioritize, and prioritize right.  I will talk a little more about prioritize below with what I learned from James Richie.  

First, you start with an Independence Account.  Where it includes the money that you pay yourself first, and include interest and profits from investment.  “The power of this concept is that it overturns the common belief of our capitalistic world that we should not only work for our needs, but for all of our wants as well, and then save anything else that’s left over.  This prevailing philosophy is flawed, however, because after spending money on all the material stuff that sounds appealing, there’s seldom anything left for anything else.  Paying yourself first shifts the focus away from consuming and places it on saving and growing a sizable base of funds” (Richie, 2012).

And then there’s this Gold Account.  Where a part of all you earn is yours to keep.  “These funds should be set aside as cash, and then should be allowed to accumulate until we have enough to begin investing in appreciating assets or other business opportunities…at this point, any profits, dividends, or interest should be put back into the original Independence Account, ad as this account continues to grow larger, continue using it to make increasingly lucrative investments” (Richie, 2012).

And here’s the result, it goes around and around that all the profits and interests are sufficient to provide an annual income that will take care of all living expenses.  And that’s what Richie called: Financially Independent and Self-Reliant.

Imagine all the good things about your financial fitness, and now imagine all the good things about your life.  I learned that by paying yourself first, and to invest these things in the gold account, which I called the most important things in your life.  I learned that by investing our time, effort, money, and all that we have to the most important things in our life first; which is family, we will always have positive outcome in return.  And after a while, it will only grow bigger and better, and eventually gives you sufficient needs.

So remember, a plan that will always work.  It's a plan that works for your financial need, and your life.