“Life’s disease is suffering” The first Noble Truth.
“Suffering is caused by ignorant desire” The second Noble Truth.
The fact that “ignorant desire” of money is a very addictive disease it is pretty easily to observe.
Most of us have got it.
Living as a recovering “money addict” is a tough, life long battle and commitment.
If you are still living the life of ignorant desire;
You are fighting to keep up with the Johns who are fighting to stay ahead of you.
You are locked into an endless competition that you will never win because when / or if you get ahead of the Johns, you will find out that you will still be miserable and unhappy.
Financial happiness can be achieved only through financial enlightenment.
Let’s go back where we left at the last post;
“”Enough is not a number,
enough is a state of mind.”
Great! It sounds great, but what does it mean, how do you translate that “state of mind” in real life?
Can you simply “wish” your financial worries away?
Can you meditate your bills and your debt out of your life?
What is the life of a financially enlightened person?
If you are making $450 K a year and you are spending $500K – enlightened you are not.
If you are making $50K a year and you are spending $45K – enlightened you are!
The path of financial enlightenment starts with a balanced checkbook and that can only be achieved when you decide to stop the rat race and “settle for what you need not what you want.”
Write down on a piece of paper everything you spend, starting with the most expensive item; your monthly mortgage payment.
(If that is not your highest monthly bill, stop reading this blog and start looking for a very good accountant and a very good lawyer!)
Next put your second highest bill, like your car payments and keep on going with the list to the last of your bills.
Now: Take your mortgage bill and see if it is more than 28% of your annual income.
If it is more then that is not the house that you need. The house that you need is a N-1 bedroom house with a monthly payment less that the 28% - where N is the number of people living in your house full time.
Call your real-estate agent, or find a good one, and tell him: “sell the house I wanted and get me in the house I need”
Take your cars monthly payments and see if they are more than half of your mortgage payment.
If your car payments are more than half, you are not driving the car you need, so get red of the one you want and get the one you need!
Keep on going on the path until you achieve the perfect balance!
Painful is the path to financial enlightenment but at the end of it you’ll have nights of sound sleep and days of no stress.
Not the envy of your peers would be your reward but a smile on your face.
The advice is free the results - priceless