Hi everyone, it has been some time since I have actually typed something over here. I know no amount of reasons could justify my lack of activity here. So I'm sorry for being the owner of this blog but not taking care of it.
I would like to share with you something, that is what happens when in your individual personal life, you suddenly get an extra stream of income. Be it a windfall, a one time gain, or an additional stream of income. May I ask what do you do, what is your mentality towards this additional stream of income. You might fall into 2 categories; one, you will take responsibility and ownership of that sum of money. Two, you will try to adapt to this new environment that you are in. Lets start with the second group first, once you get a raise, promotion, strike some lucky draw or in other ethical means has sourced for an additional flow of income, you would think that "my bandwidth (in terms of finance) has increased, I think I shall adapt to this positive environment. Then, that's where your eyes would began to scout around for 'wants' that could match the so called increase in your income. Let me tell you that it has just recently happened on a personal basis for myself and this will only let you lose a great opportunity to get closer to your goal of achieving financial freedom. Let me touch a little on the idea of opportunity. Opportunity, to the ancient Romans, is a lady god who would bless those that is fated to meet her. however, this god is has a rather special characteristic in her that she doesn't wait for man to embrace the opportunity presented upon them and it will go if the mortal does not want to meet her. Coming back to my point on why is there a wasted opportunity for the second group. The answer seems obvious and why not think about these now. Opportunities come and go, and let's say that this is a fair world and that every individual has an equal probability of receiving an opportunity, then this is considered you have wasted 1 of the 'x' number of opportunities that you will experience. Right?
First group of people, they are the better one, for they used this opportunity to bring them one step closer to their dreams. They are the ones who still stick to their 'needs' and not progress onto their wants. They are discipline in their finance and would put this extra sum into their spreadsheet of their goal to their financial freedom. Then they can progress on to see what can they do with this (specfically this and not their entire net worth) to make it grow harder for them. And looking at the power of compounding, where they are slaves for you and their children would be slaves working for you. Depending on your ability and preference and of course, your risk tolerence and other factors, you can channel them into the appropriate vehicles to make these money work harder for you. It is rather dry to read till here and so let me put my own personal experience down here again. My maiden flight, my blog title, has a sub-meaning that as I'm young and starting out, I definately will make mistakes and it is always good to admit to your mistakes and take responsibilities for your actions, that is the a criterion to good leadership, I have a lot to learn in my maiden journey towards this world. The horizon is clear but visibility is stretched to a certain distance only, beyond it is the vast unknown. After I have gone into the second group, I then tell myself that this is an 'unplanned for' money. This, I must say is a rather good technique as it tells your mind that oh, I have a loophole to cover up, I better do something about it. And then action would take place and this additional money would be somewhere inside your master plan. You then run scenarios on it and how would this new item affect you towards your goal. Positvely of course because it is a deposit to your net worth account. But to date, I must admit that I'm no where near to my financial goal.
~Cheers
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