In today’s post let us discuss some philosophical thoughts about money. This really applies to those who are in mindset that once they get high payments then their all daily worries will end soon. They live a happy life exactly like typical Bollywood film, where there is always happy ending 🙂 But is it true??
1) Money and Motivation-Do you think once you start to get more money then this will energize you to get up early and start your work with full energy? If you are feeling so then you are in wrong path. Look around some great personalities who achieved success and money. You notice that once they found enough money then too they never gave up the passion about their profession. So money must be your by-product of your passion. The real satisfaction is working hard towards reaching your professional highs with excellent work and passion.
According to a study conducted by Tim Judge (Professor of Management at University of Notre Dame), who reviewed around 120 years of research and found that the relation between salary and job satisfaction is too low. Also one more research about co-relation between money and job satisfaction indicates that you enjoy your job when you love what you are doing. But you loose interest even if that job is paying you high salary.
So these findings will really changes your wrong belief that money or high income is everything.
2) High Income and learning-For few success means money. So when they taste this false success they tend to forget of improving their skills, reading about their own profession, upgrading their profession. They feel that it is not required and waste. This type of mindset is easily visible in the profession of Doctors, Lawyers, Govt Employees and even from my co-professionals called Financial Planners.
Now what will happen if suddenly due to professional or regulatory changes you start to loose your hold on the profession or job? It really devastate you and your dependents. Hence it is always best to link your success to learning and improving your knowledge than to money you are currently earning.
3) Planning on Cash Flow-When you are at the initial stage of your carrier you feel that earning high income means you can buy and spend in whatever way as you have huge cash in your hand. The same way a normal earning person will think about wealthy person. But in reality it is not the case. Every one either his earning is few thousands or few lakhs must have a systematic financial life. Otherwise their financial life will crumble soon. So never be in false belief that high income leads to your wish fulfilling time.
So have a proper plan, understand your cash flows and budgeting. Point out each rupee you earn and spend. This must be followed whether you are daily wage earner or a professional who earns few lakhs a month.
4) Fear of Failure-Once you reach the top position into your professional life or earning, then there are only two possibilities. One is to maintain the same position or crumble down. So be ready for everything. Getting ready for proper financial life like emergency funding and leading a systematic life will actually makes you to come out of the fear. Fear in this sense is like-Whether you afford the same spending in future like what you are doing now, what society will feel when you start to crumble or so.
Instead concentrate on your goals, embrace the idea of failure and experience it so that it again motivate you to work hard to achieve more your professional life.
5) Behavior with society-Once start to get more money then few behave like not respecting others, not listening to others views or ideas or not respecting others time. Look around highly successful people and learn how they value and respect to all. This is actually a true behavior which will get respect you more than money you have. So cultivate such behavior to get respect from others in long run.
So in the end what matters you more is not your earning but the goals, passion to learn more, mindset, proper planning and respect for others.
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