Money Management: Can we think rich and become rich?

Some thoughts from previous post:

This concept of 4 quandrants is based on the experience of my own life and not a copied material from some books or seminars. The purpose of publishing it onto my blog is to help keep myself focus on following this 4 quadrants to shape my life better. (But I do research on relevant materials and if I do publish other author's work, I would quote the BOOK and AUTHOR's name.) Till now, my life have been not quite successful. I hope that by writing this blog, I can see improvement in the 4 quandrants.

At this point of time: In the Time quadrant, I am a habitual late comer. In the Money quadrant, I'm bankrupt and $2300 in debts. In the Health quadrant, that is my only consolation as I'm in the perfect health due to my job nature as a personal trainer! haha. In the People quadrant, I'm doing all right as I have quite many people who like me and will readily lend a hand if I get into trouble! I hope to see more improvement everytime i come back to update my blog :)

Ok, now lets talk about today's TOPIC of MONEY MANAGEMENT: It is said that the key to success is in your MIND. Today, I came across a wonderful book that really pinpointed this key ingredient of success! The book is titled "Secrets of the Millionaire Mind" by T. Harv Eker. This book was given to me by a client more than a year ago, but at that point of time, I was not mentally prepared for such topics. However when i read it today, it made so much sense...

The author says that each of us have a "Money blueprint", meaning that you already have in your mind how rich or how poor you want to be. If you are not "set" to be rich, some things or events will somehow happen to make you become poor again, or remain poor, no matter how much money you may be earning at any point of time. This is due to the workings of your subconscious mind. In order to breakthrough this viscious cycle, you need to change your mindset from within. You need to be aware of your motivation, your childhood conditioning, your deep rooted beliefs towards MONEY! Otherwise, no matter how much knowledge or education you attained , its still not gonna improve your financial health. Your wealth is only a reflection of your habits and beliefs. Rich people have good habits that make them take the necessary ACTIONS to attain success, and to keep replicating success! Success is therefore not attain through luck, its a HABIT!

Therefore, its possible to think rich and become rich! You can change your bad habits such as.... being habitually late for appointments, not planning your budget, being lazy, procrastinating, not keep promises and so on. Change your deep rooted beliefs that money is the root of all evils, rich people are selfish and greedy, criminals and so on.

4 Steps to changing our inner self: Instead, we can change them by being AWARE of the bad habits and beliefs. UNDERSTAND the mechanics of your bad habits and beliefs. DISASSOCIATE them by realising that they are not a part of you. Finally, make a loud DECLARATION to yourself that you are a changed person.

For more detailed information about the content of this book, I strongly recommend everyone to get a copy of it. Or go to the website: http://www.millionairemindbook.com/

The 4 Quadrants of Life Management Skills

T= Time
M=Money
H=Health
P=People

Time: The most scarce resource in the world. Time that has past can never be brought back again. No amount of money in this world can buy back time. If you can’t manage time, u can’t manage anything else. Unfortunately, time management had always been my weakest quadrant. I have a habit of being late since I’m young. I’m infamous for being a LATE KING. I lost many friends and customers because I’m consistently late and eventually caused them to lose their trust in me. This is one aspect I aim to improve so that I can manage my life properly again. Always aim to be 15mins early for every appointment. If you can’t turn up or if you think you are going to be late, inform them early to show your respect for them.

Money: No money, no honey?? When I was young, my parents were always arguing. Money was always the number 1 reason that they fight with each other. When you can’t pay bills and live from hand to mouth, you are not going to lead a very happy life. There will always be a constant worry about whether u can have food on the table tomorrow. Manage your money well and always SAVE some money no matter how little you may earn. CASH is king. Always set aside at least 10% of your monthly income. Save it as CASH and not something else that is not liquid. During time of recession, everything else will depreciate. Cash is what everyone will be after. They will be desperate to sell their fix assets to convert them into cash. So be wise, don’t splurge during good times. SAVE.

Health: If you are not healthy, you can’t enjoy your money that you earned so hard for. You might end up spending a fortune to cure your illness. Health is managed by living a healthy lifestyle. The bad effects of living an unhealthy lifestyle are accumulative. Illness will only surface after a long duration. Sometimes the destruction to your body is so bad that it becomes irreversible. Always take good care of your health before you regret it. Good health comprises of physical health as well as emotional health. Exercise moderately, eat well, sleep early, manage your stress, have a positive attitude and stay away from intoxicants.

People: This quadrant refers to the relationship between you and your loved ones, father, mother, brothers, sisters, son, daughters, relatives, colleagues, boss, customers, friends and even people you do not know. This quadrant is important because you don’t live alone in this world. All great things are accomplished with teamwork. Your success greatly depends on whether people are willing to offer their help to you. Everyone is greatly linked to each other. Your smile can brighten up someone’s day. Always treat people with respect and you will receive it back too. Success is meaningless if you have no one else to share it with. Holiday is meaningless if there is no one else to accompany you. You live a miserable life if there is no one that you can trust. Cherish your loved ones while they are still alive. Always let them know how much you appreciate them before its too late.