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May 02, 2006


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Herewith are my comments regarding the Eight Steps to Financial Happiness:
1. Learn to want less.
This formula is really one golden rule for financial success and happiness, I would add rather - earn more but want less is the surest way to financial independence and happiness.
2. Get organized.
Those who fail to plan, plan to fail. A place for everything and everything in its place. These two concepts would further internalize the above stated pronouncement.
3. Set goals.
Be careful if you do not know where you are going because you might not get there. If you do not have a goal, let us say of attaining financial happiness then how will you be able to reach there. Having a goal in life is a must whether for education, vacation, tour, buying a hotel, airplane, new car, owning a swimming pool or even writing a book. The first formula for success is having first a goal or have a destination then by all means attain it.
4. Plan your spending.
Having and creating a financial budget is a road map for overheads. Those who prepare their budget is creating a safer haven in terms of their consumption and expenditures. Profits could be rationally anticipated by having a budget.
5. Invest sensibly.
Idle money and cash should be invested. However, put your money only if you know where it is being invested. Get to know the financial profiles of companies you want to own that way you do not become vulnerable to business risks.
6. Protect what's yours.
Insurance is one way of sharing your risks with other agencies in times of fortuitous and force majeur events. Protect your family with life, health, accident and fire insurance. Protect your employees with the same insurance that you have and the interest of your employees will be assured.
7. Start talking about money. Those who marry with money will surely earn it. If you love money then start taking action right now.
8. Find work that fits. Love what you do and the money will come. Do not be a square peg in a round hole. Create more values in life and financial happiness will knock at your door earlier than you expect.

I think this advice is great. More people today are becomming increasingly obsessed with having more money or living a lifestyle they cannot afford to fund. This is how many people have and are falling into debt. Learning to be happy with whatever money and lifestyle you have is essential if you want to be and stay happy.

In today world many people spend more than they earn and end up with huge debts. It is very important to plan for your spending and earning power, and invest your money wisely.

Wat could be te Possible investment oppurtunities that are prone to less risks?
Can anyone clarify this?

In the present financial scenario, it’s very important that we try to improve our financial condition. I must say you have provided great information and secrets of financial happiness. Though most of us are aware of some of them, but hardly apply them.
I will certainly try to follow these steps and take a step forward in achieving financial abundance. Even though to strictly follow the steps won't be an easy task but will certainly work on it. And hope people would do the same.

I love the list. Of course, much of it is common sense but we all know that it ain't so common. Following these tips are not easy but they lead to success. I have to admit I do everything but #3 and #6. I don't have life insurance yet. Crazy?? I know. It's laziness. And, planning is something I've avoided. I'll have to look into that. But, I'm making progress. Thanks for the reminders.

The list you provided is a great one with some flaws. Learn to want less is something I just dont understand. I want more and I make more money. It is very simple. If our requirement is a million we will only reach there. If our requirement is a billion we will reach there. We must learn to want more is my policy.
I also do not like the invest sensibly point. I would invest recklessly to make money. It is simple more risk we take more money we make. without taking risk we cannot aspire to succeed.

Learn to want less.

I'm a big fan of yoga and the philosophy taught says, the less you want, the more discipline you have, the more happiness you will have in your life.

If your goal is to make a lot of money and be a millionaire then learning to want less simply isn't going to resonate with you.

Both ways work. Both can be definitions of success.

It's simply a matter of choice.

I'm living on a poverty-level income, and consider the idea that I should learn to want less...nothing, er, less than, ludicrous.

Problem is when the stock market plunges 60% and Real estate crashes and then you get laid off. Real easy to lose it all so fast.

Getting organized is a big one for me. There has been so many times where I bought something I knew I had but just could not find it...until after I bought another one of the same thing. I must have 10 toe nail clippers!
I probably need to take heed with number one too: not wanting more. I don't really see anything with wanting more. It motivates me to try harder some times. You just need to know when enough is enough. I shop every day. Of course, it is mainly for food and gas.

Earning, saving, investment and getting maximum return out of three will depend on our dedication,hardwork and preparation that will again depend on our thought process is insight of human being based on situation and sorrounding so we should choose our sorrounding what we need than every thing else will work

I agree with Kevin here. Though we are aware of most of these steps, we rarely make an attempt to apply them. Finally, when a time comes when we are unable to manage our finances properly and the situation gets out of control, we tend to realize our drawbacks and mistakes.
This post is really an eye opener and from today itself, I will make it a point to follow these financial secrets, at least some, if not all.

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