About Your Abundance

What This Blog Has to Offer

If you are looking for personal finance advice on the internet, many time-tested blogs and websites give quality advice. So why another blog? The difference you will find here is that we offer a balanced perspective; balanced between the concrete facts of money management and the inner game of living a fulfilling and abundant life. A holistic approach towards abundance makes for a well-rounded experience.

What we are NOT about is fanciful, wishful thinking that is out of line with sound money management principles. We ARE about optimism, pragmatism and making decisions that are aligned with meaning and joy. The differences are subtle but critical. If your thoughts about money disturb you or cause you to be stressed, you have some work to do on your thinking before you can get on the path to true financial freedom. Even if you have all the money you might ever need, if you are always concerned about it, you are not yet truly free.

Thinking and Beliefs Do Matter

Many individuals believe they must sacrifice happiness and meaning to achieve financial goals. This belief is based on many flawed premises. Part of our mission here is to help you identify the elements of your belief system that are holding you back. Often, these beliefs are hidden at a deeper level of your mind. Once identified, these limiting beliefs can be released, allowing you to move past what have seemed to be stubborn obstacles.

Yes, it is essential to know where you are financially, but it is even more important to not be stuck there. Many would find it difficult to comprehend this simple truth: Your current financial situation is your responsibility and no one else’s. Taking responsibility means changing your thinking as well as changing the way you live. If you think like a victim, you will live like a victim. If you feel like a prosperous and happy individual, your life will follow suit. The good news is that thinking and beliefs can be changed. There are several true stories of those that have lifted themselves from homelessness to the ranks of self-made multi-millionaires. The one thing they all have in common is a dramatic change in their beliefs and thought patterns.

The chart below illustrates some of the differences between victim thinking and prosperity thinking:

Victim ThinkingProsperity Thinking
My finances are limited because of my job. I receive my income from my job.My finances are unlimited. I currently receive income through my job rather than from it.
My finances are limited because of the economy.My finances are unlimited. Many made millions during depressions and recessions.
My finances are limited because I lack the proper training or education.My finances are unlimited. Some of the richest men in the world are drop-outs (e.g., Bill Gates). I can get the knowledge I need.
My finances are limited because it takes money to make money.My finances are unlimited. Going from homeless to rich has been done successfully one step at a time (e.g., Joe Vitale).
My finances are limited because my boss, family, friends or spouse are holding me down.My finances are unlimited. There is no one to blame, but I take personal responsibility for my results.
My finances are limited because rich people are greedy.My finances are unlimited. Some rich people are greedy, and some poor people are greedy. That doesn't define who I am or who I will become.
My finances are limited because I am too old or too young.My finances are unlimited. Fortunes can be made at almost any age (e.g., Col. Sanders)

There are many more examples of how we can look at things differently. You get the idea, so learn to be vigilant against “victim thinking.” It takes practice, but it absolutely sets the stage for major positive changes in your finances. You still need to take decisive action, changing your thinking won’t do it all. However, the effort you do make will come from a stronger base.

Tools for Changing Thoughts and Beliefs

Making changes in thoughts and beliefs is not a trivial process. We have to be patient, loving and persistent with ourselves. We will find inner resistance to change in the form of excuses, forgetfulness and blaming others. Below are listed some tools to help you on your journey:

  • Meditation – Any type of meditation practice that enables you to identify and slow down the chatter we all have going on in our minds.
  • Letting Go – A practice promoted by Dr. David Hawkins and also developed by a different organization as the Sedona Method. This allows you to own and then let go of negative emotions.
  • Ho’oponopono – A simple, repetitive practice refined by Dr. Hew Len and promoted by Dr. Joe Vitale. You merely repeat: “I’m sorry. Please forgive me. Thank you. I love you.”
  • Tapping – A practice of tapping on acupuncture points while repeating a phrase. Also known as EFT.

Earnings

You have choices on how to improve your financial situation. Your first option is to earn more money. This can be done by getting a different job or starting a business. However, it is essential to consider factors other than income when doing this to avoid sabotaging yourself in the long term. The following is a list of points to consider when looking at jobs or businesses:

  • Will I be able to learn to love doing this work with passion and flair? Doing what you love and loving what you do is a sure-fire path to better income. Look at those who excel in any field, and you will find passion.
  • Will I have the flexibility to do this work and live the other part of my life? Work-life balance may be an essential component for you. Consider how this work will impact the other part of your life.
  • If it is a job, what sort of benefits are offered? Remote working arrangements? Health care plan? Retirement savings?
  • For a job, what are the company’s reputation and culture? Do some research online.
  • If you are looking to start a business, is it a business that will continuously require a lot of my time? You may want to consider the relationship between time invested and financial return. Otherwise, you could be building yourself a low-paying job disguised as a business.

Expenditures and Savings

These two topics, expenses and savings, are directly related. Every dollar of spending is a dollar that won’t go into savings (ignoring tax deductions and other complications). However, a dollar of savings is more valuable than a dollar of income, because income is reduced by taxation. A lot of wealthy people know this and live frugal lives. The celebrities with yachts, jets, and mansions are the ones you see in the news, but many wealthy people are living less ostentatious lives below the radar. So how do you reduce expenditures and boost savings? Below are some ideas to help you:

  • Make a regular practice of giving gratitude for things you currently have. The value of doing this cannot be overstated. It creates a positive mindset. Perhaps even join a gratitude group online, where you are accountable for giving a list of things that you are grateful for every day.
  • Look at the reasons why you buy new things. Is the old item really broken? Will you use the new item frequently? Can it wait a little longer?
  • Consider used or refurbished items.
  • Continue or increase your charitable giving. First of all, charitable giving is often tax deductible. Also giving to worthwhile charities or religious organizations boosts your well-being and makes the world a better place. Do your research to make sure the charities you give to make good use of their money (the vast majority of the funds should directly benefit those in need).
  • Don’t give money to strangers or family members who make poor choices. Enabling someone’s addictions or poor decisions is not a good use of your money. Panhandlers on the street usually use their money to fund their habits, despite their claims otherwise. If you feel for the homeless, give to a homeless shelter.

Investments – Making the Most of Your Savings

If you have a significant amount of savings, you will want to invest it somewhere other than a bank account with little or no interest. There are many, many investment options available, so choose carefully. The keys to successful investing are diversity and patience. Diversity means not to put all of your eggs in one basket. Most investments, especially the most profitable ones, have some risk of decline associated with them. By diversifying your investments, you will protect yourself to some degree from declines in value. Patience is a virtue when it comes to investments. Investors such as Warren Buffet made fortunes from buying quality stocks and being patient over decades. If you give in to fear and pull your money out of your investments every time there is a noticeable decline, you are setting yourself up for failure.

When you invest, it is also important to consider at what point you will start to draw down the funds. If you are young and your money can sit untouched for decades, you can afford to take a little more risk with your investments. On the other hand, if you will need access to your funds relatively soon, you will want to stay with a conservative mix of investments to minimize the risk of decline.

Summary

We hope this information was useful for you and that you continue to visit us here at yourabundance.blog.