Financial Freedom
Lesson 3: Learning how to make money
1. Making Money
2. What's the Purpose?
3. Your Most Valuable Asset
4. Career Choices
5. When You Don't Have Money
6. Taking a Job
7. Keeping Your Money
8. Automatic Savings
9. Entitlement
10. Excellence
11. Discipline
1. Making Money
Money is what you trade your life for. Money is artificial; there is no such thing as "real money." There was a time when people used gold and silver coins that had an inherent worth, but those were replaced by paper notes that were redeemable in gold or silver; and then those notes were replaced by our present-day currency, which is not redeemable in anything real.
So, money has no inherent worth. Money, in our society, is simply a medium of exchange. A dollar bill is just a piece of paper; today it may purchase a candy bar; in a few years, it may take ten of those same dollar bills to get the same candy bar. A piece of paper merely makes trade easier than having to trade your goods or services with everyone you want to purchase something from; the piece of paper has no set value. Of course, we could just as well be trading in sea shells or wampum, or waving little pieces of plastic with our names on them. The trend is clearly towards plastic cards and smart chips, to replace bank notes. Money is becoming increasingly abstract; it is just some numbers on a computer somewhere.
Every time you spend money, you are letting someone give you less than the value of what you are purchasing. In fact, that is the essential nature of almost every financial transaction. Any "equality" of exchange of goods and services is only an illusion. You imagine you are "getting your money's worth." In fact, you are always sold less of what you purchased than what you payed for; or, another way of looking at this is, you generally pay more than something is worth.
How can this be so?
This basic exploitative aspect of the economic system we call capitalism, is where profit comes from. Someone is profiting by their superior bargaining position, and overcharging you, whenever you buy anything: gasoline, food, cable TV, a home, a car, ... everything. That is how the system is set up, and that is how it works. For countless billions of transactions, every day. Somebody is getting rich from all of those tiny exploitations; they add up to billions of dollars.
In our modern society, we have moved from an industrial society, to a service economy, and we are moving into an information economy. People trade information, and that is seen as having value. Intangible information is traded for intangible money, and the "value" that is produced is in the eye of the beholder. Clearly, we are moving farther and farther from providing for our own basic necessities in life, on our own, and rely upon everyone else to provide everything we need or want.
Somewhere along the way, people realized that they didn't need to personally do anything constructive or productive, and could still get rich. They learned to use money to make money, completely bypassing any need to make any contribution whatsoever to society. That's a part of investment, money or commodity trading, or banking. The argument is made that anything that produces more money is somehow contributing to society, but it isn't convincing.
Money is not a reward for making a contribution to society. It is the profit which comes from exploiting some advantage, some person, some resource, or some information. That means you have a choice to make, as to how you wish to make money — and whether or not someone else is being exploited in the process. There are some ways to make money which minimally exploit others or the environment, and others which do so maximally, like war. In our society, people often get rich in ways that exploit others maximally. Of course, the money which rich people accumulate does not go back into the general resource pool when they die; it remains separate and withheld from others. It's called inheritance; and it doesn't really benefit the rest of society, either.
Most of us do not inherit great wealth. We need to find some way to make a contribution to society, and earn our own way. The concept of "think and grow rich" has been around for quite some time, and it is fallacious. Thinking does not create money; money is not magnetized or attracted by our thoughts; and we do not "attract" money just by thinking of ourselves as millionaires. Countless books and success programs are sold to unsuspecting people, with this philosophy, and it just isn't true.
On the other hand, if you are having any kind of problem, including financial problems, then something you are doing — and some way in which you are thinking — is definitely not working for you. And you need to learn how to think and act differently. The same old thoughts will only give you the same old results. You make money by seeing, appreciating, producing, and sharing what is of value — to others. People trade their time and their life for what they perceive to be of value to them — even when, as we have seen, it is quite illusory.
It is far better to spend your life fulfilling your true purposes. If that is something you can make money doing, fine. If not, you need to find some other purposeful activity to make money.
2. What's the Purpose?
At the end of the day, you have to answer this question for yourself: is what you are choosing to do with your time and your life really time well spent? And, is there anything better you could be doing with your time?
Making money is not a purpose in itself. Money is just money. It's what you do with it — or intend to do with it in the future — that matters. You need to have a purpose for making money.
Billionaires seem to lose sight of this simple truth. They spend their lives accumulating more and more wealth, until they finally die, and then it is passed along to others. But, during their lives, making money becomes everything to them, along with the sense of power and control that they may have or seek in their lives.
Another way to think of this is, what's the point of making money? In what ways are your actions truly helping yourself and others? If your epitaph were written today, or at the end of your life, in what way would you have made the world a better place? How does your life make a difference?
Do all of your choices in life come down to merely paying the bills? Is that what drives you, and what you do? Or do you have a larger purpose? What is your purpose in life? What are you here for? You can be certain that it is more than getting a check and paying your bills.
The main thing you have to work with, to make money, and to make a difference with your life, is your self.
The role of business is to find what people need and to help them to get it. Of course, these days, more and more businesses cater to people's illusions about what they need, their materialistic desires, and their compulsion to spend whatever money they earn. But there are businesses and services that primarily help people, and help them to minimize their difficulties and suffering.
Perhaps this may give you some idea as to what it would mean to you, personally, to live in a way that is true to who you are and what you believe about life, and to realize how you might be able to help others to do that as well.
There may be times in our lives when making money, of necessity, is divorced from any sense of a higher purpose. We are merely paying the bills or getting by. But, people do this for their entire lives, without ever standing back and considering how it is all working out for them. They do not seek a higher purpose in living, nor do they question a job that pays their bills. But, it may be the case, that they may wake up at some point in their life and realize they have a greater reason for living, something within them that they wish to share with others, some way to really make a difference in people's lives. And they may make choices in their lives, accordingly.
Whether or not you have purposeful work or much money, you can volunteer some of your time to help others in need, at a food bank, animal shelter, whatever. What does this have to do with making money? It reminds you that you can make a difference with your life, and help those who may be suffering, without having a lot of money. You can learn to give of your self, and see the reward in that.
3. Your Most Valuable Asset
All of the Simply Self courses are about learning to be true to your self, who you really are, inside. This course is no different. Making money comes down to awareness, attitude, discipline, and follow-through. You have to believe in your self, your abilities, your dreams, and your future. Sure, some people win a lottery, but that isn't something you can expect or depend upon. You have to be more realistic than that. Throw all the rule books out, and learn for yourself what it means to think and act for your self. Do you believe in your self that much, or do you doubt yourself more?
Every good idea you will ever have will come from within you, or you will feel it resonate within you, if it happens to come from outside of you. That process of listening within you, being self-aware, allows inner-directedness. As you go through the day, each day, take a few moments to be aware of what is going on for you — look within yourself — often. You can simply observe what thoughts, feelings, and perceptions you have, hourly, for example. Look within yourself, and see what greater creative intelligence you can draw upon, daily. You are your most valuable asset.
There are lots of books and teachings that say that if we think or act a given way, we will be rich, but that is not the case in the real world. It is a myth that a person will become a millionaire, as is popularly claimed, by thinking or acting like a millionaire — or anyone else. For example, millionaires often buy the most expensive item available, whether a home, furniture, or a major appliance, on the theory that it will provide greater service or value over the long term. But when you are learning to make money, and create wealth, it is more important to learn to minimize your material expenses, so that you actually have money to invest in your own future.
Some people believe there is safety in numbers, it is good to get lost in the pack, to not be too individualistic. The assumption is that you can depend upon others, or what they know, or how they act, to provide the general direction of your life. After all, you are part of a society, a culture, a system of accepted or normal behavior, expectations, desires, and goals. You don't have to stand on your own. Or, do you?
Many people, especially young people, are positioned in the job market by their parents, by the career goals and desires of their parents, which may not be true to themselves. Just because your parents thought you should do something is no reason for you to spend your life doing it, out of some false sense of "loyalty." Just because you may have found your way into a well paying job or career doesn't mean it is right for you, especially if you have some other strong interest or sense of purpose. To thine own self be true.
Look more closely at your self, your life, the choices you have made, and see whether or not you can depend upon others — especially for your financial future. The more honest you are with yourself, the more you may realize that the one thing you have to work with, the only thing you can depend upon in this world, is your own self. At the very least, you have to draw upon your own abilities, your own thinking, your own creative intelligence, to progress through your life.
What are your own abilities? What do people rely upon you for? What do you seem to do well or without difficulty? What kinds of problems can you solve? What are you good at? What do you like to do? Think in terms of abilities, not "jobs."
Basically, you have to think and act as your self. That is the basis of success in all areas of life. We are at a point in time, in our society, where if you follow the herd, and do what everyone else does, you will not have much of a financial future. The average person has negative savings; half the people who get married get divorced; most people are overweight and growing in ill health; and, it is increasingly rare for people to think for themselves in our society. Go along with the herd, and you will wind up where the herd winds up. Or, go your own way. You choose.
There are things you can do to take care of your physical health, your mental health, your spiritual well-being, and your financial well-being. The typical person cannot be bothered with any of these. They are so programmed — with self-defeating or self-destructive behavior — that they will not make the effort to demand more of themselves, or to take care of themselves. They gratify themselves in the short term, rather than take care of their interests in the long term. You must know that if you neglect your financial health — as most people do — you will not have money for your retirement or old age.
Ask more of yourself, now. Be willing to have and maintain a long-term view.
4. Career Choices
People now change careers on the average of five times during their lives.
Often, they haven't found what they really want to be doing in their life, or what they are doing isn't sufficiently rewarding. Rarely does a person move from strength to strength, mastering one field and then going on to another career that utilizes all that they have learned.
Which raises the question: wouldn't it be better to know what you actually wanted to do, from the start? Take some time to inventory your skills and interests. Ask yourself and other people what your strengths and talents seem to be. Consider whether you feel it is most satisfying or rewarding to be doing something that is physical, intellectual, spiritual, creative, scientific, artistic, or otherwise. But, don't just base this assessment on what you have already done in your life; be open to the possibility that you may be interested in and find greater fulfillment in something different.
Many people make career choices by completely disregarding the simplest things, like what makes you happy, what feels in harmony with your self, and what will allow you to grow, to express your creative intelligence, to unfold your greater potential. A career must suit you — you can not fit into a career.
School does not prepare many people for life, or for a career they are willing to commit to. In the past, jobs, relationships, geographical areas, and careers were a basis for commitment, over the long term. Now, people more often desire change, something new and different. For some, nothing holds their interest for very long. Life is becoming a lot more like TV, with short runs, special engagements, and always something new and seemingly more fulfilling.
But, the idea is not to act as someone you are not; rather, find the best way to express who you truly are. That is ultimately the only thing that you will find fulfilling.
Instead of thinking of a career in terms of what the position is, begin to think in terms of what creative abilities, talents, and interests you have which you wish to express in what you do. Take inventory of your talents and abilities — what you have to offer. We all have gifts to offer. If you do not have intellectual sophistication, perhaps you have simplicity. If you do not have skill with technology perhaps you have people skills. One is not "better" than the other. They are simply different aspects of ourselves, different talents and abilities we each bring with us. Maybe you prefer to be outdoors in nature, rather than in an office. Maybe you prefer working with animals rather than people. There are endless possibilities. Look around.
One person can be a lawyer and spend most of their time doing financial calculations; another may do investigation and research; another may spend most of their time arguing cases in court; another may spend their time helping indigent people; still another may teach. It might be the same profession or job title, but it is a totally different work experience for each of them.
Find what is right for you. You could be a very successful doctor, but if your heart is in music, that may be a better choice for you. The final determinant should not be income level, but what you will be happiest at. People often spend years — or a lifetime — doing something other than what truly speaks to who they are, and only realize that later on.
There are many books about analyzing your own personality type, talents, and abilities. They can give you a bit of direction, or a feeling of validation, so that you feel you are doing what is right for you, and what you might enjoy. Just remember, it isn't the job title that matters; it's what you do in that role.
5. When You Don't Have Money
Whether you have enough money to make ends meet or not, there are ways to make money that you may wish to explore — even if you have no money at all. Of course, many rich people say they have no money, too, because they spend what comes in. These are ideas you can consider regardless of your financial situation.
Make a list of everything you can do to help others, without making money. When you are done, consider which ones you could possibly do and also make some money, now or later. For example, if you play a musical instrument, you can volunteer performances for various groups of people, in elder-care facilities, or wherever you can. You can gain experience, and make some people a bit happier. There are some jobs which you may qualify for later, on the basis of having been in that environment, made connections, or contributed your time without pay.
Sell something on eBay. Learn the process of selling something, and seeing what others will pay for it. You will learn how the value of something is basically what someone — one person — is willing to pay for it. Some people find this to be a great learning experience, and they try to find everything they can sell in this way — including selling things for people who don't have the time or interest to do it themselves, for a percentage of the sale price. Clearly, there are countless people who establish businesses on eBay, or expand whatever business or interest they have, without geographical limitations.
Get something old, fix it up, and sell it for a profit. The idea is, of course, to sell it for more than it costs to both buy it and repair or refinish it. There are many things that have an inherent value to others, such as furniture made of real wood, not particleboard, which can be refinished and make a lovely addition to someone's home. There all all kinds of things that people sell at moving sales, garage sales, estate sales, and so on, which you can get for a decent price and sell at a profit. You will learn what people pay for things, where and how to advertise and sell, and perhaps make some money doing so. You might even develop an eye for antiques and collectibles, and find some deals that you can make a good profit on.
Make use of your ability to organize, helping people to organize and get rid of the clutter in their homes or offices. That is a task that many people do not seem to be able to do for themselves, because they have a kind of emotional attachment or link to everything in their possession, whether they truly need it or not — or need it to be right there in front of them, or not. As a consultant, you can be detached and help them to realize where things need to go (including to charity or into the recycling or trash). Similarly, you can make use of your creative ability and sense of style or taste, helping people to decorate their space.
Use your creative abilities. Most of us have some sort of creative ability, whether we have explored it or not, including painting, writing, dancing, photography, music making, sculpture, and so on. You don't have to be a "professional" to do something creative that you enjoy, and find a way to make some money doing it. If you paint, you can find places around town, such as cafes, which may be willing to let you display your works, with a price tag, for a small percentage of the sale. If you are capable of conceiving of and producing a work of beauty, there is usually someone who would appreciate having it.
Make use of your knowledge. Teach something you know, as a tutor. Or if you have some real expertise, hire yourself out as a consultant. Or you may consider sales, which often relies more upon your ability to sell than expertise. In sales, you learn the needs of your customers, and meet those needs in a timely way. This is about letting people know that you can provide them with what they need, and giving them confidence in your ability to do that in a superior way, or with superior service. Sales can be learned, whether you are selling cars or real estate, products or services. You can also learn the specific knowledge you may need, possibly in a training program.
Cut back on expenses, save a little, and use what you save to start a business, such as polishing and detailing cars, gardening and landscaping, or a delivery service. The idea is to start a business with little or no investment, and grow it. You build a business by doing quality work, getting customer recommendations, building your customer base, and then, perhaps, hiring people to meet the increased need for your services or product. A very simple service business takes minimal startup expense, and relies upon your own initiative and hard work. The ultimate payoff is having a business that continues to generate income for you when you retire, or perhaps selling the business.
6. Taking a Job
A job is an opportunity to see how well your skills and abilities, your knowledge and experience, are valued by others. But, don't limit your perspective to the specific job you may be doing, or how you are perceived by others, there. You need to keep a larger perspective on your self, your goals, and the talents and abilities you need to develop or unfold. See yourself as you want to be, and work towards that.
Sometimes you may not have much choice as to what kind of job you take. You may simply need to pay the bills. And, regardless of your education, training, or experience, you just need to do what you need to do to get by. This is especially the case when you have accumulated debt in student loans, when career choices meet the "real world" and you find what jobs you can actually get hired for.
Some people who are barely getting by may take a second or even a third job, often at low wages. If you live in any reasonably populated area, you will notice that there are always jobs available for minimum wages. They may not be what you consider to be a great job, and it may be a blow to your ego, but if you can manage to limit or cut expenses, you may be able to get by in that way.
Use whatever job you take as a base from which to move forward. That doesn't mean you will necessarily be promoted or get a better job at the same place, but it is a possibility. The idea is to do what you do, well. In fact, do everything you do with excellence. On some level, it matters to you, that you do what you do well, that you draw upon your resources, your intelligence, foresight, creativity, innovation, perseverance, awareness, and ability to apply yourself to the task at hand.
Take the opportunity to develop your people skills, how you deal with everyone: co-workers, customers, managers. These basic relationship skills, in which you practice acting with integrity, honesty, helpfulness, lightheartedness, and grace, will serve you well in every other work you may do in the future. And, they can be practiced or learned wherever you are.
Don't be negative and complain about your situation, your job, your co-workers, or your boss. There may be a time for some feedback, but you need to see your job as an opportunity for you to learn how to work in a variety of situations, with various pressures, stresses, demands, and expectations. Rather than being ego-emotionally reactive, learn what it means to be calm, clear, and centered. Practice a centering exercise daily, to release stress and learn to deal with everything outside you from a place of peace and power within you.
Take responsibility. This begins with learning how to be a good employee. You would be surprised at the number of young people who show up for work without having any idea how to act in a responsible way; they come to work drunk, hung over, or high. Many people, even those in well-paying jobs, try to do the least amount of work, or the least quality work, that they can get away with. They do not have a true work ethic. Do not resent your employer, what you are being paid, or what is expected of you. Otherwise, you defeat yourself by habitually asking less of your self, and getting used to forsaking responsibility, initiative, follow-through, or simple helpfulness.
If you do more than is expected of you, even if you leave that job, you will get a good recommendation. But, again, this is more about your own commitment to developing your own capacity to work hard, focus, and make a difference. Those are skills you will need throughout your life, especially if you wish to make more money.
If you really want to be doing something else, you can prepare yourself for a transition to a new career. You can get some necessary training or education while you are employed. You may find that it is easier to get another job when you already have one. If you don't have a job, that may be the first thing a potential employer notices when they interview you; and they may interpret your not having a job as a reasonable probability that you may choose to leave their employ, too. And, they may not be as inclined to offer you a job.
These days, people change jobs frequently, especially young people. They may have a variety of careers in their lives. So, be flexible in your outlook; it is good to commit to the job at hand, but keep your eyes open for something that may better suit you at a given stage of your life. Look at every job as a learning experience, even if you learn that it isn't what you want to do for the rest of your life.
7. Keeping Your Money
There is actually very little correlation between having money and having a good credit score. In fact, your credit score generally depends upon how freely money flows out of your hands, to others. Keeping the money you make and having a high credit score are generally in opposition to each other.
So much is made of your "FICO credit score" — there are advertisements telling you how to find out what your score is, and there are financial experts who declare that keeping up a high credit score is equivalent to financial success.
This is a very great myth. For sure, the financial system classifies people who are financially stable, who pay off their credit cards without paying interest, as "deadbeats" and "freeloaders." The credit card companies (banks) do not want customers they cannot exploit. They want mindless consumers who make minimum payments and who incur exorbitant charges on their credit card accounts. If you play their game, they reward you with a high credit score.
The credit score is not a reflection of your cash flow (how much you earn minus how much you spend); nor is it a reflection of your net worth (your assets minus your liabilitites). It is merely an artificial measurement created by the credit card companies to asses how conformed you are to their system of exploitation, how mindless you are, and whether you can be safely let out to pasture to graze with all the other cattle. It is a measurement of whether they believe they can financially exploit you, as a consumer.
Regardless of what various "experts" say, your goal in life should not be to maintain a high credit score. It should be to become financially free and independent.
Your goal should be to hold on to money that you make, so that you can save and invest it. No matter how high your FICO credit score is, you do not have a secure financial future until and unless you step out of the system of consumer debt, and develop money-making assets and investments. Today, employers are beginning to rely upon credit scores in the hiring process, to decide who is "reliable." A person who can be depended upon to be in debt, unfortunately, seems to make for an employee who will be grateful to have whatever job they have. Think about that.
Be very aware of what financial "experts" are selling you. Some sell FICO credit score improvement kits; others sell financial advice and stock picks; others sell you financial products or investments that make them money. We are not selling any investment advice, stock picks, financial products, or credit score kits. All we are offering is the same common sense that we follow in our own lives — which is different from what a financial salesperson might sell you.
We do not recommend that you allow any financial professional, regardless of their affiliations, have control over your money or investments. You should never put them in a position of authority in which they are able to legally sell your investments and take the money (for themselves). It happens all the time, with the most trusted financial advisors and professionals.
If you want to actually keep the money you make, it takes something more than just earning it: you have to not give it to the credit companies, invest it wisely, and not let anyone have control over your money other than you. The last thing you would want to do is to get behind, living paycheck to paycheck, and then take out a "payday loan." The interest on these loans, which may be five percent per week or more, can amount to five hundred percent per year; it is little more than legalized loansharking.
It takes a different mindset to merely make money, and to have it there for your future. It is not just a matter of working today and having money today, and expecting to work in the future and have money then, too. You have to invest today's money for the future. You need to keep the money you make now, rather than spending it on things that are simply unnecessary — and invest what you save, wisely.
8. Automatic Savings
Some people have the discipline to save money and others do not. If you have any tendency to spend the money that comes to you, without saving much or anything, then you need to deal with that. You can set up an automatic deduction system that takes money out of your paycheck and automatically deposits it in either a savings account or an employee retirement account. And do not think of your savings like a pint of gourmet ice cream, to dip into whenever you want a treat. Once it is in savings, keep your money; the only time you should routinely take money out of savings is when you transfer it into your investments (where it can earn more money).
When you are young, you may not feel any need or desire to save for "retirement." But, that is precisely when you need to start saving. If you start saving when you are older, you might not have much of a retirement to look forward to (unless you have good investments).
Money grows in accordance with the interest earned, and/or the appreciation of your assets. What this means is, with compound interest, money that is saved and invested when you are young continues to build with interest on the interest. It may not seem like a lot, but a young person who puts away money from each paycheck, over the course of many decades, can wind up with a very large amount of money (possibly over a million dollars).
Understand the relationship between the interest you earn and the rate of inflation. If you earn one percent on money in a savings account, and inflation is at a rate of four percent, then your money is really losing three percent in value or purchasing power, per year. If your money is earning four percent in a savings or other account, and inflation is four percent, then you are not making any money, yet, either. You have to make more than the rate of inflation — and, typically, savings accounts do not pay that much.
If your money is not in a tax-sheltered (or tax-delayed) investment, you also need to factor in the amount of money you are paying in taxes. If you pay about a third of your income in taxes, and get six percent interest, and the inflation rate is four percent, you are really only getting four percent interest after taxes. Once again, your money is not growing in real terms.
Realize, even if you have set up an automatic savings plan, unless you are putting your money into a savings — or investment — vehicle that earns a lot more than the rate of inflation, your money may grow numerically over the years, but it will not be worth any more in reality. Inflation is a part of the economic system by which the government makes money worth less over time.
It can make sense to transfer money from regular savings to a higher-interest, secure investment. Some banks have money market accounts that are guaranteed up to $100, 000 — just like regular savings accounts — and yet they pay much higher interest. They may pay five times as much interest. You may wish to look for such accounts in your local area, or on the Internet.
Remember, there is a difference between a money market mutual fund and a money market savings account — the mutual fund can go up or down in value, and you could lose money since it is not insured. A money market account at a bank, credit union, or elsewhere will clearly state that your money is insured by the federal government up to $100, 000.
Again, use your own best judgment. Giving your money to any entity to safeguard for you always has a risk, regardless of any "promise" to repay you if you were to suffer a loss.
9. Entitlement
In America, today, it is common for young people to be told how special they are, and it is no longer acceptable to criticize them. Pointing out the special achievements of a child in school can be grounds for a lawsuit claiming the other children have been made to feel inferior, or have been put down. This attitude, in family, among friends, in education, and even in business, is breeding a society which gravitates to the least common denominator.
The concept of entitlement —that we deserve and should be given something for nothing — is embedded in our society. Generation "Y," who graduated from high school after the new millennium began, have been raised with a sense of deservingness. Having been programmed with every sort of curricular and extra-curricular activity, designed to build "self-esteem," they feel entitled to everything.
When Generation-Y'ers enter the workforce, they expect to start at the top. They ask for, or even demand, a work situation that matches their egotistical self-esteem. Forget about working somewhere for a while, learning how the business works, and gradually moving up. They have no plans to stay at any job, or any career, for very long. It seems that they are committed only to getting what they want, in a rather narrow sense.
This generation is proud of their ability to "multi-task." They prefer to work while plugged into their iPods, and associate the ability to download as many iTunes as they like with some kind of "success" or "self-actualization." Of course, multi-tasking, and driving while text messaging on their cell phones, is not some sort of miraculous ability; it is the splitting of attention, and it causes everything they do to suffer from lack of focus, attention, or commitment. A person chatting on their cell phone while driving has a worse reaction time than a person driving drunk. But, young people today have the illusion they are doing better and doing more, and "just being themselves" — even when that may be entirely self-destructive. They believe, above all, in being entitled to have fun.
It isn't only Generation Y that believes in entitlement in our society. Many people have "learned" in life that the main quality of success at a job is showing up and having a warm body. That is enough in many jobs. And, if you do not have any greater purpose, commitment, interest, or investment, that is all you will give — and all you will get. Aren't you really entitled to something more than that?
At some point, we need to realize that we have to give something of ourselves, in order to really get anything out of what we do. There is very little value in getting something for nothing.
As we learn more about life, we learn how to maximize our investment in what we do, and maximize the return. This is investing in ourselves, without any ego investment. It is simply being willing to draw upon our true abilities, commit to a course of action over an extended period of time, and realize the benefits.
When we discuss entitlement, we are not in any way putting down the worth — especially the spiritual worth — of anyone. Rather, we are suggesting that merely being shaped by the popular programming of your culture does not provide you with a secure financial future. On the contrary, it more often has the effect of ruining your financial future.
No matter how much you believe you are "entitled to" or "deserve" every thing in life, you do not. You deserve something different, something better, something more. You deserve a sense of spiritual wholeness, fulfillment of your true purpose in living, and all the finer "things" in life which are not material things at all: love, peace, and happiness.
Making money can either be about making money, or it can be an expression of all you have to give — and gain — within you.
You decide.
10. Excellence
There are so many myths about money. One says that you have to look like a millionaire to become a millionaire; another says that there is a millionaire inside everyone, waiting to come out. These popular ideas are simply untrue. Substance matters more than appearances.
It matters how you see yourself and your role in the world; it matters how you present yourself; and it matters how true you are to your self. It matters what you find within to to give.
Beyond that, it matters that you do what you do with excellence.
The vast majority of people are just getting by, in terms of their work, their relationships, their health, their financial situation, and their life. Very few people have the commitment to what they are doing, to do it as well as they can.
If you are willing to do that, you will find that you far exceed the ordinary, and live an extraordinary life, with extraordinary rewards.
Everyone does things differently. There is not necessarily a best way to do anything, except what is right for you, what expresses your unique abilities, and what is true to your own self. It is important to do whatever you do with excellence — anything that is worth doing is worth doing right, always.
Excellence is a choice you make to be true to your own self. What you do is a reflection of, but not a measure of, who you are. Your performance is a product of your self-knowledge, self-worth, consciousness, choice, past programming, conditioning, and habit. Excellence expresses your true creative intelligence.
Excellence is not being driven by the ego, by perfectionism, by a fear of making mistakes, or a fear of disapproval or rejection; it is not the "perfect" acting out of your conditioning or programming. It is not ego, pride, or ambition.
Excellence is a commitment to your own self. No one has the same abilities or development in all areas of life; you can unfold your own abilities. Ultimately you cannot be pressured into being "good" or "excellent"; you have to choose it.
Excellence is a quality of your own consciousness, perception, and attitude. It comes from being more aware; and is expressed via thinking, feeling, willing and doing — by always choosing what is most true to your self. You can practice excellence so that it becomes a natural part of your life/work, as follows:
1. Give up excuses. There are no real excuses.
2. Keep your word. Keep agreements, whether formal or informal. Everyone, including you, will know and learn that you are responsible and can be depended upon further. If you keep your agreements, you will find that you gain completion in life/work. This is the basis of progress and growth.
3. Be on time. On time means on time, always. Be early in order to keep your time agreements. It doesn't matter what the occasion, who you are meeting, where or why, important or not — it is important to demonstrate, at least to yourself, that you are responsible and reliable, always. Give up lateness.
4. Look your best, all of the time. This makes a definite statement, to yourself and others, that you are aware of the quality of your influence upon others, and that you care. It demonstrates your self-confidence, your desire to accept responsibility, and your self-esteem. Give up shoddy appearances.
5. Don't talk negatively about another person, ever. No matter who you are with, they will get the very real message that you are someone who judges other people. This will undermine people's confidence and trust in you.
You cannot judge or resent others and expect to have a positive influence. It doesn't matter if you think you are "right," or who you can find to agree with you — negativity doesn't help anybody, including you. Give up negativity.
6. Express appreciation. Whenever you are appreciative, acknowledge it. This is the way to gain a greater appreciation of the quality of excellence, and to support excellence in others. Look for the real value in people and all things. Give up the ego habit of criticizing, complaining, and condemning.
7. Take the initiative. If you are aware of something that needs to be done, do it. Claim the task as your own, and claim the power to do it. You will find that this increases your power and self-confidence. Give up laziness.
8. Complete whatever you do. Start it, finish it — not out of insecurity, or to get approval, but to satisfy your own self, to feel complete within your self. Your life/work will become more complete, more whole. Even if something isn't perfect, finish it and be finished with it. Give up incompleteness.
9. Produce excellent work, in terms of substance and appearance. Accept responsibility, and do not allow any mistakes or errors to go uncorrected. Take enough time to verify the accuracy, clarity, and quality of what you produce.
For example, if you produce written material, do not allow typographical mistakes or errors in spelling. This demonstrates that what you have written is worth being communicated accurately. Make an investment in excellence as part of your work, whatever you do. Give up inferior, sloppy work.
10. Don't curse. Curse words (and expletives with four letters) are not necessarily bad, but they are a gross and poor substitute for acknowledging and clearing your anger, resentment, frustration, jealousy, sadness, fear, and guilt. Cursing is ego-emotional conditioning, and is not true to your self.
Curse words seldom correspond in meaning to anything that needs to be communicated by anyone. They are judgments and affirmations of lack and valuelessness. Accentuate the positive, not the negative. Give up cursing.
11. Recognize and support quality. Be aware that quality and excellence are not found just in appearances. Look for real quality and excellence before you choose, or accept, anything in life/work. Make conscious (not ego-emotional) choices for excellence in everything you do. Give up your support of mediocrity.
12. Excellence is voluntary. If it is worth doing, do it in the most life supporting way possible. Be aware of the negative influences of your choices and actions, too. Eliminate any destructive, or self-destructive, influences from life and work, including the obsessions you have, or what drives you.
You invariably lose balance and centeredness in your self, and perspective, when you become obsessed with anything — even what you consider to be "perfection." Excellence is not obsession with details. Obsession with details arises from fear, pride, ego control, a compulsion to perform to get the approval of others.
Excellence is not compulsive. If something is worth doing, it is worth doing right — that is simply the better choice, one which is true to the self.
13. Realize that excellence is not of the ego. It is not prideful ego-serving judgment by which you feel superior to others. Excellence isn't doing things in such a way as to appeal to your ego, or to get approval from others, or to feel superior to others. It is practicing being true to your self.
Have a commitment to excellence in your self, such that you actually do something about it, physically, emotionally, mentally, and spiritually. This means taking care of your self, your relationships, your life and your work — with care, patience, trust, love, joy, and faith. Let, don't make, life work.
14. Be willing to see the best in people, and inspire excellence in them, too. The key to being able to bring out the best in people, and in your own self, is to be willing to see the best in everyone and everything. Discriminate; see what is good and what is not. Support what you see is good, just because it is good.
Different people are in a position to do different things with different levels of aptitude and skill — but anyone can make a commitment to doing what they do, well. Everyone has the choice, at every moment of their life, in every area of life, work, and relationships, to accept and express the highest good in them.
Pause for a moment and realize that excellence is a quality within you that can be expressed in all areas of your life — by being true to your self. Always.
11. Discipline
It takes discipline to get out of debt and to build wealth. We live in a very permissive society, and that acts against us when we wish to control our finances and build wealth. It is easy to get into debt; it is a lot harder to get out of debt. Because Americans are thoroughly programmed to do what feels good, they take the easy way — they spend with little or any thought of the hardship it will bring.
Are you disciplined in other areas of your life? Those may be an indication of how disciplined you are with respect to your money. Do you eat anything you want; do you overeat; are you overweight or obese? Would you rather hear the "experts" tell you that it has nothing to do with what you eat, it is all a genetic predisposition? Are you willing to accept responsibility for your choices and your behavior? Do you realize that you make choices all the time as to what is acceptable to you and what is not? Do you have it in you to do what is right, even if it means depriving yourself of something you believe you should have — just because you want it? Are you noticing how you may be telling yourself lies, and believing them, rather than doing what you truly know to be right, good, and true for you?
Do you have any addictions, small or large? Do you have dependencies upon things outside you to get you going or keep you going, to motivate you? Are you driven by things outside you? Are you emotionally reactive, egotistical, arrogant? Do you see yourself and the world around you realistically? Do you have any behaviors which are self-defeating, self-limiting, self-destructive? If so, what would be the point of getting more resources to drive self-destructive behavior? You have to learn how to release yourself from these things before you gather more resources; otherwise, predictably, your money will go down the drain.
Discipline is not hardship. It is making a better choice, a choice that is more workable both now and in the long term. It is being wise in your actions, your behavior, your spending, and your investing.
The bottom line about being financially secure is: first you need to get out of debt; then you need to have savings; and then you need to have investments. When you put any money into investments, you need to leave it there. You need to let it grow. If you have any tendency to play with your money, to put it into investments, then sell the investments and buy stuff, your investments have been for naught. You need to let your investments grow, and leave them to grow.
That doesn't mean you ignore your investments after you make them, but you do not take money out of your investments once it goes in. If you need to, you can shift the money from one investment to another, to minimize risk or to take advantage of opportunity. But once money is set aside for investment it is not to be taken out and spent on consumer items, vacations, or anything else. This takes both an understanding of how wealth only grows when you leave it in your investment assets, and the discipline to live within your means and not draw upon your investment assets.
There are some investments that you may set aside for a specific purpose, such as to help with college education (for yourself or your children). Those will need to be investment funds, put into something that produces growth and interest, for a long period of time. It is the compounding of interest — the interest earned on interest — that builds wealth. It is the historic rise of stocks that builds wealth — over the long term, not necessarily the short term. It is the appreciation of real estate over a period of time that builds wealth, along with the income derived from investment property.
Be aware if you are ruled by impulse or desires, if they govern your choices and behavior. It is a fallacy that life is about pursuing impulses or satisfying desires, or that the more money you have the more desires you can satisfy and the happier you will be. Impulse and desire do not take the place of having a higher purpose in living. It has been said that money is the root of all evil; rather, the love of money — or the desire to satisfy all worldly desires with everything money can buy — is a cause of great suffering in life.
Self-discipline is the acceptance of responsibility, the power of choice, the ability to make a difference in your life (or in the lives of others), the willingness to do what you know is right, good and true for you, and a way to experience greater success in your life — regardless of your financial situation.
This is a better way to live today, as well as for the future. Think about how much better it will be to have money for retirement, than not. Most people do not adequately provide for this later part of their lives; they lack the foresight and the discipline. They buy whatever makes them feel good, now. If you wish to build wealth, you cannot afford to do that. You have to be more wise and make better decisions, right here, right now.