Seven Cures for a Lean Purse Part 5
“The HOLE in our pocket/purse is usually larger than the money we are putting in – there is a cure for HEALING this HOLE – the medicine however, may hard to swallow and a bit bitter to the taste…” — Rick Cox
“But the result is worth the inconvenience of having to put up with the taste and taking the time to swallow…”
Rick Cox
Part 5
Cure #4 (continued): Protect and guard your money from losses… The Richest Man in Babylon
More often than not there are but a few roads we can take in the building of wealth. Unfortunately, these are unpaved, dusty, and full of ruts, ridges and potholes, making the process a longer and more arduous procedure. On the other hand there are many roads one can take to lose the money they have made and every one of these roads are paved, allowing you to travel much faster. What I would like you to understand is the way things work is that you can lose the money you have made much easier and faster than you can make it.
It is similar to deciding one day to get in shape and beginning an exercise regimen. At first it is very hard then it gets a little easier and finally you are at the maintenance stage. The issues start when or if you get sick or have an injury forcing you to lay off the exercising for a period of time. What happens? You get out of shape MUCH FASTER and MUCH EASIER than you got in shape. The road to getting in shape is unpaved while the road to getting out of shape is like a freeway. You can get out of shape in no time and likewise, in the same manner, you can be out of money in no time.
Since money is easier to lose than it is to make, it stands to reason we should probably be as aware of the ways of losing it as we are of the ways to make it. Being aware of ways money can be lost helps us guard against them. It is true most of us are looking to invest in whatever will give us the highest return on our dollar in the shortest amount of time. It is also true most will, at the very least; listen to ideas of how to increase their money even if they don’t fall for the scheme hook, line and sinker. There are the con artists and get rich quick schemes, that when followed, can be successful in separating us from our money unless we are careful to guard against it. There are also other ways in which we can lose money. It is not always from others trying to dupe us. We might be just as much to blame for any loss of money as anyone else. Allow me to explain.
Solomon said, “As wealth increases so increase those that eat it.” This, my friend, may become your largest avenue for loss of money. In examining this statement, made by Solomon, one might glance over it not recognizing the importance of why it was said. Rest assured there was a reason Solomon wrote it down. It must have had a significant impact on his life and he wanted others to realize it as well. When you start making money it is true there are those who will do their best to become a friend, doing so for what they can get, but there are also things we bring on ourselves, which can be harmful and cause for loss.
What is not often realized is, the more you have the more people you need in order to take care of it. Another way of saying this is, when wealth increases, the life style will often increase with it. With an increase in life style you will increase your spending. You might have made a budget and are living well within the budget, but you have in fact increased your spending due to the increase in wealth thus, the loss. You may now need people to take care of the landscaping; provide building maintenance on the estate; care for the horses; keep the batteries of the vehicles charged as well as start the engines once in a while; clean and take care of the KOI ponds; clean and take care of the sea fish aquarium(s), etc.
An increase in wealth often requires one or more wise financial planners, one or more CPA’s, one or more tax attorneys as well as more insurance for personal coverage to protect yourself and your estate from being wiped out if sued. There is a need for more vehicle insurance because more vehicles are added or a car collection is started. The insurance is higher because the vehicles you now like to drive are more expensive, and the cars you collect are in the high dollar column as well. With more income there is a need for a higher level of life insurance to take care of the family should one of the parents die unexpectedly. You now also see the need for higher/private education for the children. You have more travel expenses as well as higher clothing expenses and higher entertainment expenses.
Finally, and most important, there is the greatest loss: the loss of your peace of mind; the loss of your ability to sleep; the loss of your love for others; the loss of your love for self with the only love that remains being the love for your money. It is a common occurrence for many to find themselves with money as their treasure, that is to say, at the center of their heart. They forget that money is simply a tool to be used as any other tool. It is that simple: money is a tool and that is all it is. When money becomes the object of your love you might find a loss of ability to make it as you have now lost your objectivity and freedom to think outside the box.
At this point you are usually so afraid of losing money you get ulcers and have headaches. Solomon put it this way, “There is an evil which I have seen everywhere under the sun and it is common among men: that God gave to some men the ability to have great wealth, but due to the development of stomach ulcers, cancers, hives, anxieties or serious cardiology issues they are not able to enjoy what they have.” Remember, money is only a tool. It is true it should be guarded as one of your best and most efficient tools or employees, but it is only a tool and nothing more. To make it more than a tool is to give it power over you with you becoming subject to money instead of the other way around. Now you have lost focus on what is really important. This is the greatest loss. Don’t let it be yours.
Best of LUCK as you
Labor Under Correct Knowledge…
Respectfully,
Rick Cox