People
who have no money
People who are not success with wealth, they always
happen to - search money, stay stressful mind thinking about
tomorrow, trap into leasing or loans and happen to stay
as servant under the people who have money. These people
don't have economic management in their life. Satisfy
from what we have is not always practical when we face
big disasters in our personal life, our career life, our
businesses or natural world.
People who have money
When have sufficient amount of money, people become more calm &
relax. Therefore can take life decisions in clear mind.
They don't fear to future and have fresh mind with creative
ideas. They can invest extra money in learn new skills,
buy properties, deposit in bank or start new businesses.
They calculate daily loss & profit in separate book.
Rich people always separate some amount of money for
insurance their life and properties.
Discipline of Saving
Saving money in banks is main step to become rich. We
need to have likeness and discipline for separate fixed
amount of money for save. It must be consider as
necessary purchase such as buying foods. It is not good,
use to save after doing all expanses. Minimum amount for
saving must be 10% of total income per month. Actually
this saving money also called as Financial Independence,
because it help to make our mind free. Also we need to
think about how we save such as deposit in banks, buy
lands, buy houses, purchase gold, etc. When we save
money in banks, bank invest those money for giving loans
to micro businesses and corporate projects. So saving
money in banks directly helps to develop our country
toward prosperity.
Dealing with Banks
There have right insight related to dealing with
banks or other financial institutes. Normally from banks
we can maintain three kind of money accounts. They are -
Savings Accounts, Current or Checking accounts and Fixed
Time Deposits. Because of ATM cards, nowadays people
used to heed savings accounts as same as current accounts.
Current accounts are used to do daily busy money
transactions and saving money is not considered there
except collecting money from business or salary. Savings
accounts used to save money as self discipline. Hence we
need to keep limit for withdrawal money via ATM cards.
Take enough money once time per week is good habit when
handling ATM cards. If you need to take money from your
bank account always, use current account instead of
saving account. Deposit fixed amount from monthly income
in separate saving account is well saving habit. Fixed time
deposit saving schemes are ways to strict our mind with
steady saving discipline while earn big interest from
banks or other kind of financial organizations.
Financial Traps
1. One kind of traps are illegal financial institutes or
people and unsure
banks or financial organizations.
2. Another main traps are lands and homes which have illegal documents and
conjoined with law
cases.
3. Gold or instruments which are not true chemicals
compounds or internal parts, are other kind of traps.
4. Leasing or loan advertisements which stick us into
interest payback can be leaded to financial traps.
5. Keep steady trust about big lottery winnings are also
stupid financial trap in our mind.
Leasing and Loans
Lot of people take loans without think how it pay back.
Some people take loans for unsteady future plans such as
earning from foreign job, incomes from new businesses and
with insufficient salary. It is not good take loans or
leasing for our own ambitions for achieve fancy things.
Loans or leasing are only for new investments. As example
if we need new investment of Rs.100, then we must have
75% with us, which is not include from loan. Only we
want to hope from leasing or loan must be 25% of our total
needs. Also 25% amount we acquire from loan must be
saved in bank without use in our investment. It is for pay back, if we couldn't
earn
funds as we planned. Lot of people take loans because of
fantastic advertisements. But we always want to remember
this loan &
leasing help to give us extra mental stress, physical
sicknesses and family problems too.
Handling Credit Cards
Another point that we waste or lost our money is,
bad usage of bank cards. Credit or debit cards easily
help to vanish our money within minutes. Online
purchases, shopping in super markets, foreign traveling
are help to lose our money without known our limits.
Esp. credit cards can create money so we don’t identify
it as another kind of loan. For save money from these
kind of over limited behaviors we want to keep monthly
limitation for our card purchases. Pay credit card bills
on time or monthly helps to avoid interest collections.
Before go to super markets, we can use to prepare family
goods list consulting with family members. Collect bills
and analyze extra purchases beyond the list. It will
help to reduce over expanses. In this case, maintain
family or personal money book is another good remedy.
Again self-discipline need to avoid our over
transactions.
Money and Personality
1. Richness is relative state, it means rich person
in village can be poor person in town.
2. Because of extra money, extra social acceptation and
braveness can be earned.
3. Rich people attain positive mind, luxury life and nice appearance.
4. Rich people occurs fresh ideas, fresh mentors and fresh occasions.
5. When we have extra money, mind can be used for
meditation and merit activities.
Ways of wasting money
1. Doing unnecessary expanses for lust such as
buying cloths, meals, entertainments, etc...
2. Doing expanses without have concurrent financial plans
& analyses in daily life.
3. Buying services & goods, which are can done by
ourselves such as shaving in saloon.
4. Waste time for thinking about negative past occasions
-
wasting time means wasting money too.
5. Understand religious concepts in wrong point of view,
such as - about saving money.
Ways of success in money
1. Use your land for cultivate vegetables, cooking
spices and fruits
than buying those things from shops.
2. Reading books related to success people and affluent companies then write down their
wealthy tips.
3. Doing extra job or self-employment in part-time basis or
as family business in evening times.
4. Prepare simple lost & profit money book related to daily, monthly
and yearly expanses. Analyze it everyday.
5. Give donations in happy mind from your monthly income to poor people,
priests, gods & monks.
Buddhist Saving System (BSS)
Think as your total monthly
income is Rs.100, then separate your funds as following
:
|
Monthly Personal Expanses |
Invest Again in Business |
Savings for Future |
|
25% |
50% |
25% |
Sample
Personal Economic Management System Per Month
Consider your monthly income is Rs.100, then keep your expanses as
following :
|
Daily Needs |
Savings |
Investments |
Hobbies |
Merit Works |
|
60% |
10% |
10% |
10% |
10% |
|
