When I was at management college to finish my postgraduate in management, I developed a unique way of getting the most of the non-fictional book reading with management lessons. Yes, you can say I focused on reading self-development books to improve myself in different areas. I have developed a strong reading habit since 1995 to read books as per my interest and related to my profession.
Reading books is essential for me, but I always focus on implementing the things I have learned from the book and taking notes for my future reference. The knowledge helps me communicate with my clients and benefits my clients in achieving their financial freedom in life. Yes, as always, focused on client interest first.
I thought about this recently when I picked up Happy Money by Japanese author Ken Honda. In his book, he asked a straightforward question to all – “Is Your Money Smiling?”
Yes, Ask this question too. Let me inform you that I have also discussed with all my clients about happy money. I have also asked myself whether my money is smiling or not? You might think it’s such silly questions to ask yourself but remember that this is the most critical question you can ask yourself in your life. It is the first lesson you have to learn about money management and your relationship with your money.
How do you know your relationship with your money? All my clients are asking this question during their first interaction with me. Yes, you must know your relationship with your money and your financial planner who guides you in this financial jungle to achieve your financial goals and always be in a happy money zone.
You have to do a detailed analysis of your spending pattern to know about your money relationship. It means, in short, it’s your budget. A budget implies an estimation of income and expenditure over a specified future period and is usually compiled and re-evaluated periodically. It is essential because it helps you control your spending, track your expenses, save more money and build a solid positive relationship with your money.
Your relationship with your hard-earned money is essential in money management, whether you have a strong positive relationship with your money or a negative one. If you are spending money for your family expenditure in the right way and within the means, you have a positive relationship with your money. In another way, if you are overspending beyond your budget and making the payment through credit card and later on paying huge interest to credit card, you are in a negative relationship with your money.
Keep in mind that money can laugh or cry depending on how it was given or received. If you give it out of guilt, anger, or sadness, the money will be “crying.” In contrast, if you pass the money out of love, gratitude, or happiness, the money will smile because it will be instilled with positive energy.
Has money the ability to smile or cry? Does money change when it is provided with a specific energy or feeling? Yes, money has its power. It may be positive or negative energy. Whenever you are helping others with your money infused with these feelings of gratitude and joy – so leads to happy money energy.
Earning money is very easy for all, but managing money is the most challenging task in today’s world: job insecurity, short working life, the impact of inflation and low-interest rate, etc. People are coming for financial advice and asking me many questions related to money. How can I deal with my money? Can I have more money without sacrificing my current lifestyle? Can I have peace of mind about money? What can I do to create a happy, fulfilling, prosperous life? How to be in a happy money zone in my life?
Whether your money is smiling or crying depends on whether your money is in happy money or unhappy money.
Be in Happy Money Zone:
If you are spending money or saving money with love, care, and affection for your family, you are in happy money. You are helping others with love, care, and friendship, which leads you to happy money.
- You are helping a struggling family member out of a bind.
- You are sending a few rupees to those affected by covid-19 situations.
- You can raise money by doing activities/shows or selling products for a homeless shelter.
- You are investing in a business or community project.
- You are receiving cash for work or service from satisfied clients.
You are doing a small amount of mutual fund SIP (SIP Systematic Investment Plan), say Rs. 1000/- per month, for your child’s higher education goal with love, care, and affection for your child. Or you are helping a needy person during this covid-19 situation. Happy money makes you smile.
Don’t be in the Unhappy Money zone:
If you circulate money in frustration, anger, sadness, and despair, you are in an unhappy money situation. Whenever you receive and spend money with negative energy, you are in unhappy money.
- You are paying or receiving money as alimony after an ugly divorce.
- You are receiving a salary from an employer for a job you don’t like but can’t bring yourself to leave.
- You are unwilling to pay off the credit card with huge interest rates.
- You are receiving money from someone who resents paying you – like an unhappy customer who says, “You don’t deserve it, but I will pay you anyway to honor the contract.”
- You are stealing money or misappropriating others’ money – from anyone.
“Money is multiplied in practical value depending on the number of W’s you control in your life: what you do, when you do it, where you do it, and with whom you do it.” -Tim Ferriss
Keep in mind that if you genuinely know what your money helps you with, your hard-earned money is “smiling,” in your life no matter how little of it you may have at any given time.
I am a CERTIFIED FINANCIAL PLANNERCM, CHARTERED WEALTH MANAGER®. For the moment, I have shared my experience growing up with you because it had a tremendous impact on how I do what I do. If you have a question about your financial situation, please connect with me. I’d be delighted to try to be of service.
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