Nowadays most people are seeking how to be rich, and how to make more money, when the thing they should strive achieving is being abundant, which is a different concept from being rich.
There are a lot of rich people, millionaires and even billionaires who are not abundant. No matter how many objects they possess , and not matter how much money they have in the bank, they don’t feel like it’s enough. They want more, because what they already have doesn’t bring them fulfilment. On top of that, money is such a huge burden in their life, that it can bring them stress, worry and sleepless nights.
Abundance is a state of being, in which you have no negative emotion related to money. Money is not an issue for you, no matter the amount. Money is not something you chase, because it flows gracefully in and out of your life. You feel you have enough to be happy and to buy whatever you need. You don’t worry about it, about the future of it, about the economy. You feel no remorse or greed or guilt when giving it away to someone in need, or making a gift, or buying something just for pleasure. This state can be achieved with a surprisingly lower amount of income that you would expect.
Now let’s dive into some “money secrets” that I’ve discovered along the years, that brought me into a state of abundance, even in periods of time when my income was very low.
Money Secret number 1 : Money EQ versus Money IQ
It’s interesting how society brings us into the workforce. We spend years and years studying all sorts of areas, so we can gain a certain degree or qualification, that prepares us for a specific job, like that’s the only way to make money. Please wake up from that illusion.
We should be thought first of all how to make money , how to maintain it, manage it and how to spend it, without any negative emotion.
Studying finance and economy could teach you how the money is handled in today’s society, gaining some money IQ ( intelligence quotient) which rules are crumbling as we speak by the way, but it doesn’t teach you how to actually make money, trust the money and sustain it. High money IQ could make you rich, but it cannot make you abundant.
Here is where money EQ comes along. Developing money EQ (emotional quotient) is key in gaining abundance.
Developing a high money EQ will require for you to analyse your emotional pallet related to money, finding the cause for these emotions, and transform them, if it’s an emotion that causes you resistance and negative state of being.
The emotions we feel regarding money stem from the programming we faced in our childhood, through family, friends, movies, media, school teachers and so on. The sum of beliefs from the environment you grew up in, shaped your views on life. But you can change that, don’t worry. The first step is becoming aware of it.
Growing up in a less developed country, challenged by corruption and poverty, I myself faced a lot of negative programming since a child, that affected my views on money growing up. Here are some examples of negative beliefs I grew up with:
“People who have a lot of money are thieves” , or “Rich people are corrupt”, or “Rich people are greedy” or ” The only way to make money is to steal, deceive or break the law” or “Money is the root of all evil”
Even though some of this may be true, you must acknowledge that not all rich people made money like this. There are a lot of people that are very rich, but also very kind and generous, and gained wealth by working on their passion on a fair and just way.
Associating money with negative character traits is very dangerous, because you unconsciously may remain average or poor, because you see yourself as a good person, and don’t want to be seen as evil. Second this belief may block your vision from positive opportunities in making money, since you believe that the “evil” path is the only way to do it.
Just start seeing money as a tool, like a hammer. You can use it to destroy or you can use it to build. There are bad people who use tools, and there are good people who use tools. It’s not the tools fault in what way it is used. Money is not good or bad. It just is.
Here is an other dangerous belief:
“Money doesn’t grow on trees”, or ” Money goes as fast as it comes” or “You must work very hard for money”
This belief may make you work very hard for money and make you chase it all over the place, not believing you can receive it with ease if you just allow it.
Just start seeing money as energy, or like a river that flows in and out of your life with ease. The money is always around you, you just have to allow it to pass your way. Sure, you still have to take action, at certain times for creating income streams, but you don’t have to do it all day and work hard. Work smart, not hard, and build your income streams when you feel inspired and energised. Then relax and wait patiently for the rewards.
Money Secret number 2 : The 6 Jar System
The 6 jar system is something that makes you more responsible with your money, in a balanced way of give and take, and not treat it too carelessly or too greedy . If you don’t respect the money, the money won’t respect you.
The 6 Jar system advices dividing your monthly income into 6 different areas, in different percentages, that can assure you a balanced way of spending, and saving, without risking emotions of greed, guilt or fear.
How the Jar is divided:
Necessity Account (NEC – 55% of your monthly income):
This account is for managing your everyday expenses and bills.
This would include things like your rent, mortgage, utilities, bills, taxes,
food, transport, etc. Basically it includes anything that you need
to live, the necessities.
Play Account (PLY – 10%):
PLAY money is spent every month on purchases you wouldn’t normally
make. The purpose of this jar is to nurture yourself. You could purchase
an expensive bottle of wine at dinner, get a massage or go on a
weekend getaway. Play can be anything your heart desires. You and your significant other can each receive your own play money, and not even ask what
the other person spends it on!
Financial Freedom Account (FFA – 10%):
This is your golden goose. This jar is your ticket to financial freedom.
The money that you put into this jar is used for investments and building
your passive income streams. You never spend this money.
The only time you would spend this money is once you become financially
free. Even then you would only spend the returns on your investment.
Never spend is the principal. (More about passive income in secret number 4)
Education Account (EDU – 10%):
Money in this jar is meant to further your education and personal
growth. An investment in yourself is a great way to use your money.
You are your most valuable asset. Never forget this.
Education money can be used to purchase books, CD’s, courses or
anything else that has educational value.
Long-term saving for spending Account (LTS – 10%):
Money in this jar is for bigger, nice-to-have purchases. Use the money
for vacations, extravagances, a plasma TV, contingency fund, your
children’s education etc. A small monthly contribution can go a long
way. You may have more than one LTS jar. If you have more than one
LTS, divide the 10% between the jars according to your priorities.
Give Account (GIV – 5%):
Money in this jar is for giving away. Use the money for family and
friends on birthdays, special occasions and holidays. You can also give
away your time as opposed to giving away money. You could house sit
for a neighbour, take a friend’s dog for a walk or volunteer in your
community or for your favourite charity.
The percentages used don’t have to be set in stone. Sometimes your necessities account may require more than 55% of your income, and that’s ok. What is important is to have also the other accounts in place , because it is fulfilling to spend even 1% of your income on yourself, to play, to have some fun, to educate yourself, or to give to someone. With time, as your income grows, you may see your necessities account percentage drop, and you can redirect that money to other accounts.
To have this division you don’t have to create 6 different accounts in your bank account. I for example use an excel spreadsheet, where I keep track of all my monthly income and spending, and divide them accordingly.
The biggest advantage I got from this so far is spending higher amounts of money on educative courses, that for some may seem expensive, just because my Education Account had the enough funds to cover that. So no regrets there. Also, I was able to give money in unexpected situations, like for example when someone asks for help on the street ,without stressing about it, because I had enough gathered in the GIV account.
I don’t spend all that is in one jar in one month. For example I don’t travel each month, but when I do, the amount gathered in the LTS account by that time is enough to cover my expanses.
Money Secret number 3: Thank you! In and Out
I guess we all are familiar in one way or another of the importance of being grateful for the rewards we receive.
But, have you ever consider saying thank you for all the money that you spend?
Now this is an important secret, that a lot of wealthy people practice, and it’s not that popular.
Every time we spend money, we tend to feel bad for the physical money that we loose, and not appreciating the value that we obtain for that money.
The most common scenario would be the day you have to pay your bills. How dare these major companies or people take all of my money, and get rich on my expense? But how about appreciating that you have electricity, a commodity not a lot of the world population has, that you have internet access, that you can communicate with your loved ones in an instant, that you have water at demand, cold and warm.
It is very important to stay in a state of gratitude not only when you receive money, but also when you spend it (by appreciating what you get in return, no matter how small, even being in a form of a life lesson), clearing out any blockages and negative emotions surrounding it, thus allowing more of it to come towards you.
Money Secret number 4: Passive income
Our society seems to associate money with work, and revolve around the idea of active income. When you work, you make money. When you don’t work, you don’t make money. This strategy can indeed keep you busy for a long time, but it can also become a block in your overall happiness, becoming a slave to the system, in order to survive, and dreaming for that far stretched retirement, to finally get some rest and do what you love.
I don’t know about you, but this strategy just sends shivers down my spine. I don’t want to work everyday, to be able to rest after dozens of years, if I make it that far. I want to relax everyday, to have the freedom to take a vacation anytime I want to, and to work anytime I want to.
Is that even possible? YES, by developing passive income streams. Passive income means you work only once, to create something of value, that can bring you income for the rest of your life, even while you sleep.
This creation can be : a book (you can publish it on Amazon by yourself) , an online course ( you can use Udemy.com or your own website) , digital products ( illustrations, art, colouring books, to do lists , cards- anything that can be downloaded and printed at home, I recommend Etsy.com ), writing self development articles ( on Medium.com you can make money out of that), creating an Youtube Channel and making money out of the commercials posted on your videos., selling stock photos and so on.
If you are not a creative person (although I think all people are creative and that’s why we are here) , you can think of vending machines, renting something ( your bike, your car, your apartment) or something called dropshiping (you can check out Oberlo.com for more details)
Once you have a stream of income in place, you can develop an other one, or simply connect them together. For example if you have a youtube channel, you can also write a book on the topic, and send viewers to your book, or vice-versa. Make sure you chose something you are passionate about, to be excited about what and why are you doing it, because developing passive income may have a slow start and take some time before offering a steady income, especially if you still have a 9 to 5 job on the side, or any type of active income activity.
When starting to work on a passive income project for the first time, and you still have a 9 to 5 active job or other responsibilities I recommend either taking a long vacation to dedicate your 100% focus on it, or to take a longer break in between jobs (when you change your job). This strategy worked best for me.
If you don’t have that option, you can dedicate time by waking an hour earlier each day to dedicate it to your project, or going to bed an 1 hour later. This strategy can work for a limited period of time, because you will face burnout. Also the progress will be slow, and interrupted. You can also chose to dedicate your weekend time, but again, it will work for a limited period of time, cause you will have to set aside other activities, like fun, relaxation, and spending time with loved ones, which are crucial for your overall wellbeing.
Money Secret number 5: Work Ethics
Have you ever heard those stories about business men, or business type people, who open one business after the other, bringing them to a high success then closing them and moving to the next thing “that sells” or is on trend?
Well, these type of people, among others, are the ones that do business only for the money and nothing else, and once the money stops coming in, they drop it and chase the next thing, leaving them less time to actually enjoy the money they make, and living in a perpetual state of stress and fear for the future.
This “instinct” is actually programmed in our heads since we are little, for the benefit of the large corporations that need you to work for them. The truth is there are a lot of corporations and businesses that do no have the greater good in mind, so they need you to fear for the future, and not question the ethics or morals of the company you are working for. They take away your attention from the reality, with fancy offices, and fancy job titles, or other perks and advantages, that in fact mean nothing, and look away from the fact that their product is ruining the lives of people or has a negative impact on them.
An Uber driver can feel 10 times more fulfilled than a high executive in a glass box.
Having that in mind, being abundant also involves working with honesty, integrity and truth. The money that comes into your life has to be clean money, meaning, in some way has helped or brings a great value into people’s lives.
What activities I find of great value: services like transport (trains and trams, bicycles) , care, organic & healthy food, organic clothes), recycling companies, clean energy ( solar based, wind based) , activities that lift people up ( through music, dance, arts , sports) , tools and apps that makes life easier or that motivate to do better, education (courses, books), travel and so on.
What activities I don’t find of great value : banking, pharmaceuticals, Media ( TV and other streams), Mass Media ( facebook, instagram, snapchat), junk food and synthetic food, drugs and alcohol, synthetic clothes with unethical backgrounds, automotive industries, wood factories, companies that use animal products (involved in slaughter ) ..I’m not going on..I hope you got the point. Usually a lot of these companies seem all good at the surface, but you start the notice the “dirty” stuff once you get in.
These things can differ from person to person, but no matter where you work, and what you do for money, just make sure you truly believe that the source of money is something that brings value into people’s lives and doesn’t ruin it in some sort of way. Of course there will be cases when people get hurt anyway. There are 1 million ways you can die, haha. But it is important the intention that it is behind it, and you can notice that clearly, from the behaviour of your top management. You can always sense if the intentions are in making more money, or helping more people.
If you have a business of your own, again make sure your intentions are pure at heart, and that what you are doing brings value to others. No matter how small the monetary rewards are, the feeling of abundance is 10 times more satisfying.
Money Secret number 6: Embracing Nature
Whenever you feel worried or stressed about money just go spend some time in nature and notice all the abundance. Preferably it should be in the spring and summer time, since the colour green is the symbol of abundance, along with gold. But there is no limit to notice abundance when it comes to nature: notice the number of blades of grass, the number of leaves in a tree, the number of clouds in the sky, the number of grains in the sand, the number of drops in the rain or the number of stars in the night sky. Connecting with nature is a guaranteed way to feel abundant, and the more you practice it, the more you will feel abundant in other areas of your life.
I hope this article was helpful. If you want to find out more information on these topics I recommend the following books and articles:
The 6 Jar System : http://6jars.com/
Passive Income: https://www.stevepavlina.com/blog/2012/04/passive-income-series/
Lots of love and abundance to you all!