Sunday, October 19, 2008

Sunday Roundup - Financial Philosophy

A couple of weeks ago, I decided that I was going to change my life. I knew I wasn't doing as much as I could do with my life. If the skies were the limit for me I was definitely still on the ground. It's not that I was in a huge rut or in a large amount of dept that led me to this conclusion. I just reached a realization that I could do anything with my life. And as that thought marinated in my head, I started to see where my life did have some limitations. It wasn't enough to simply recognize my potential. I realized that I must build some sort of means to making that potential come to life. One of the major limitations that I had was my financial situation. Now, you must understand that I wasn't in a rut. I am more than capable of paying my bills on time, and I do; I always have food on the table and a roof over my head. Most evaluations of my life would probably say that I was doing rather well considering the path of which my life has come. The financial limitation that I recognized was the lack of control that I had. I was getting better at making money (through a job, at least), but at the end of the month I still had very little to show for it. No matter how much more money I was bringing in, I found that it was still just as hard to save. This mind process led me to the revelation that your financial philosophy determines your financial outcome. Your philosophies hold no regard for your income. With bad philosophies, you will always be broke.

I truly believe in this revelation. I believe in this revelation so much so, that it has transformed and bled into other parts of my life. I believe now that anything can be accomplished if you have strong enough philosophies. Additionally, I believe that strong philosophies will always out-perform talent. This is most prevalent in the book Rich Dad, Poor Dad, by Robert Kiyosaki (as discussed in last week's Personal Development Wednesday), as you learn of the lives of the two most influential men in Kiyosaki's childhood; one, a highly educated politician, and the other never finishing the eighth grade. The one that had the most talent, his "poor" dad, left his family with bills and no financial platform, and the other, his "rich" dad with very strong financial philosophies, leaving his family with millions. This demonstrates strongly how strong philosophy will always outperform talent. The best sport teams are not those with the big name players, but those who can demonstrate strong philosophies as a whole.

This entire thought process has lead me to this blog that you are reading right now. I feel that is important to get the word out, that we don't have to be controlled by our nation's economic turmoil. There are philosophies that you can put into play that will make you infinitely immune to all of the economic downturns that a nation will experience. This isn't the first time that our country has been in a rut, and I'm sure, just as Warren Buffet is, that this will not be the last.

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