Resolutions are made every new year and then broken into pieces, buried and forgotten. Unrealistic resolutions are the cause of this every year. I started 2012 with a completely ridiculous resolution of developing a six pack and buying an Enfield classic 350. There was no pack and no classic.
2013, Realism is the key to successful resolution is what I found and along with that a mechanism to remember it every day and take real actions. To remember the resolution I simply created a list called “New Year resolution” in Wunderlist app (which I will try to review) and added an action item in the same app to read this list every day. This will solve the forgetting problem. The One resolution that I thought I could share with you all is Money. The problem is Money itself but more than that the problem is we don’t realize that fully.
Money is like water that likes to flow and spread. As long as you have Money in your account or as cash in your wallet, you will be tempted to spend it. If you feel wise and don’t spend it, it will find its way out through some other means like impulsive and unnecessary purchase, illness or worst cases theft. You may know this by experience.
Let me highlight the keywords – Flow, Necessity.
Regulating Money’s flow and tying the spending to necessity can make you the master instead of being enslaved by Money’s power. Chanakya Neeti quotes this in one of the passage. Money has power, blinds us and puts us into unnecessary spending and attracts unwanted elements, if not handled wisely.
Regulate the flow, by creating systematic investments every Month/Quarter/half year. Depending on your income choose RD, FD, PPF etc., For example you can Open an one year RD every Quarter or Half year for a certain monthly amount. I had been doing this already but the difference is it will be systematic and it will also be with an awareness of “Regulating the flow”, and not investing or locking the Money out of fear.
Write down a wish list of necessary things to buy. Spend your money on what is needed. You will feel good about and would have successfully directed your money for the right purposes. Those that are not a necessity tie it to a reward. For example, if you delivered a project successfully, go ahead and get your iPad. You will feel motivated. If you bought an iPad with neither necessity nor a reward, it will only blow up your ego and leave you with a sense of emptiness or without fulfillment.
Remember, the moment you get to a point where you will have excess money it can go two ways. You will be tempted by its power and do crazy things like open an IPL team or you will feel that you have achieved and want to see the value of life beyond Money. Directing your money for the right purposes and realize your dreams is a choice.
Ultimately, the power of your will is stronger than anything else and our goal is to have our Will at the strongest, so Money can never enslave us into a vicious and ridiculous lifestyle.