An objective of ours is to help you learn how to find financial success. However, there is more to doing that than just crunching numbers and making investments. The main reasons most people do not achieve financial success is because they fail to apply fundamental lessons that apply on a much wider basis than finance alone. This section will discuss some of those various areas and suggest ways in which you can improve and learn the skills necessary to not only be a success financially but to be a success in life in general.
You will notice that we use the phrase “resource management” as opposed to financial management. This is because many of the lessons covered below are fundamental to success in many areas of life and can be applied beyond the arena of finance. Essentially, for our purposes, a resource comprises anything, which we use to achieve a desired end or objective. Thus, the body is a resource as well as our talents and abilities and anything else that would fall under this criterion. Keep this in mind as you read the following topical subjects and try to imagine how they apply to your life on a broader basis.
Below you will find brief descriptions about the topic as well as an overview of what is covered and basic ways in which it applies to finances and other aspects of resource management:
Balancing Income and Expenses – This topic is concerned with understanding the concept of a zero-sum system which we call basic money management. No matter how much money you make it has to be accounted for somewhere and no matter how much you spend it has to come from somewhere. This section deals with finding out where you may or may not be having problems from a budgetary standpoint and how to make improvements.
Credit Cards – This is a general overview of credit cards and a discussion on when they are appropriate and things to know when using credit.
Debt – The concept of debt is applied on a much larger basis here. The good types of debt are discussed as well as the bad types as well as how to manage it once it has been incurred.
Saving Money – The main topic is saving money but the larger issue is learning how to make do with less and in so doing accumulate wealth that can begin to work for you and provide a larger return in the long run.
Your Estate – This is a basic discussion of what an estate is and how it helps you to achieve a clearer view of your finances. We discuss no details on estate planning in this article.
Discipline – This is a general discussion on the quality of discipline and how it can make for success or misery in finance and other aspects of life.
Risk – Risk as a concept central to compensation is the topic discussed in this article. This article also helps you to define your own risk profile.
Using Goals In Your Financial Plan – Goals are important for measuring performance and evaluating proficiency in resource management. We discuss how using goals in a financial plan helps you make more intelligent decisions and better prepare for the future.
Emergency Money – Emergency money is important for any financial plan. Here we discuss why it is important and some rough guidelines on how much to set aside.
Inflow v. Outflow – This articles goes deeper into the income and expense issue, which was touched on in a previous article.
Record Keeping – Record Keeping is an often-neglected aspect of finances. This article discusses why it is important and pros and cons of various storage methods.
Wish Lists and The Purpose of Money – This article looks at money from a philosophical standpoint and helps you to place proper emphasis on it in life and achieve goals far more important than wealth.
Managing Your Finances Yourself – This article gives general guidelines for those who choose to manage their portfolio by themselves.
Money as Energy – This article gives another philosophical view of money and shows how this view can help you achieve success in financial management.
You, Incorporated – This article challenges you to look at yourself as a corporation and shows you how this viewpoint can give insights to meaningful changes that can make a profound difference qualitatively and quantitatively.
Wealth Consciousness – This article discusses why some people achieve wealth and others do not.
The Law of Exchange – This article applies the concept of exchange on a much larger basis and show how it functions as a basic law involving the management of any resource.
Why Some Accumulate Wealth and Others Do Not – This goes deeper into the “wealth factor” and explains other key differences in behavior and psychology that the wealthy have when compared to other people.
Delayed Gratification – This is one of the most important lessons and one of the biggest keys to achieving success in many areas of life.
Abundance – Abundance is the key mindset required for high level of achievements in finance. This article discusses how to evaluate your own attitude and how to make changes for the better.
Paying Yourself First – This article discusses a very old principal that is one of the first keys to accumulating money.
The Law of Diminishing Returns – This is the last philosophical based article as well as the last of the fundamental principles. Understanding this concept helps you to know when it is time to cut your losses or focus in another direction.