Is Your Salary a Seed or the Fruit Your mindset towards your salary income determines what you do with it when it comes into your hands. If you think it is a seed, you will save and invest it for increased returns. If you think it is the fruit of your labor, you will consume it without sparing a thought for tomorrow. There is no right or wrong mindset, as no one has the right to tell you what you should want or aim for, or what you should do with your life. Your life is yours to live and you only get one shot at it. The essence of financial education is to open your mind to see your options and to better understand the consequences of your current actions. If you have no idea that your current financial stagnation is caused by your current actions, you may keep doing the same thing and keep praying for a better day. Farmers does more than hope and pray – he or she works hard to put all the acreage under cultivation and maintains the farm to ensure the plants does not struggle with weeds for nutrients. While praying for rain, the farmer makes plans for irrigation. Faith without work is dead. If you see your salary as seed, you are looking for increase, and as you work towards it, increase will manifest in your life. Increase becomes your reality, as you develop multiple streams of income. You will not despise your seed or days of small beginnings. You will joyfully start from humble beginnings and watch your asset grow. You become richer each season of harvest – be it interest income, profit or return on investment. If you have a poor harvest, or experience a loss, you shrug it off and keep going. Every farmer knows that sometimes, the harvest is not as expected. If he has enough seed for the next planting season, life goes on. If you see your salary as the fruit of your labor, you will simply spend it. Your idea of increase becomes increased pay, bigger bonuses, better job. That is why you see most employees pin their financial hopes on pay hikes, promotions, bonuses and getting a better job. This is one of the key reasons we have labor unions – to negotiate for higher pay for the same amount of work, sometimes less. It France, the work week was cut from 40 hours to 35 hours. One paradox is that the salary is never enough. The more your salary is increased, the more your expenses rise to catch up and sometimes exceed your income. Enough becomes a target on wheels – the more you move closer, the farther it moves away from you. Again, there is nothing wrong with this mindset. The only challenge is, if you desire to attain financial independence, this road will not take you there. You will have an illusion of being rich and affluent, if you do well pay wise, but the moment you lose that job or retire, your life takes a different turn. If you are moving along this path, your financial life revolves round your job. The moment there is a delay in payment of your salaries, you will have to explain to your spouse why this month will be a bit different. For many, losing your job means losing your house, car, no more holidays and going down the standard of living ladder. Again, as in most things in life, there is no right and wrong answers. The right answer for you is what you say is right for you, until you change your mind. What is right for one may not be right for another. We have different capacities to pay the price or keep our commitments. There is nothing like an unrealistic goal. What is unrealistic is your commitment to pay the required price upfront. If you do not have the requisite commitment that goes with attaining that goal, then you are the one who is unrealistic, not the goal. The goal is neutral, and available for any takers. Success does not go on sale. There is no flexible payment plan. You cannot buy now, pay next year. Credit cards are not accepted either. You have to pay the full price upfront before delivery. There are no short cuts. It comes back to your mindset. Is your salary a seed or the fruit?
Posted on: Tue, 13 Jan 2015 20:16:44 +0000
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