Money101: Lesson 6 How Much Money is ENOUGH for You? It is absolutely important that you decide in advance how much money will be enough for you before you even begin to work hard on attracting money into your life. Money is not the end in itself. It is simply a means to an end. Many people fall into the trap of falling in love with money and become addicted to it. Learn to have money without money having you. Defining why you need money helps you to acquire the money as a means of exchange. For example, you may want a three-bedroom house in a low density for your family. The monetary value for such a house may be MK35 million. In reality, what you want is the house not the MK35 million. The money is simply a measure of the value of what represents your preferred house. In the old days before money was invented, you would then need to identify the house you want and exchange it with what the owner of the house wanted. If he wanted cattle and you had goats, tough, no deal! But money simplifies the process of exchange. a) What exactly do you want to do with your money? b) How much money will help you achieve what you want to do in life? c) How much money do you need per month to live the kind of lifestyle you have designed? d) How much money do you need to be saving and investing for your retirement? e) How much money do you need to set up and run your social contribution projects? Unless you are clear on the onset how much will be enough for you, you are likely going to become a “slave” of money instead of being a master of money. Always remember that there will always be a newer car model released; there will always be a new design of a TV; they will always be a better and bigger house. In short… you can never succeed to have the “best and latest” models in life. That is what King Solomon called “chasing after the wind.” Life does not consist in the abundance of things; but in the enjoyment of what you have. It is not what you have, but the enjoyment of what you have that brings real joy and satisfaction.
Posted on: Mon, 07 Jul 2014 12:38:13 +0000
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