Daily Archives: February 20, 2017

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Feb
20

Financial Abundance – 5 Factors

As an “Abundant Life Coach” I get asked about the meaning of “financial abundance” very often. What this means to you can be the difference between living the lifestyle of your dreams, or settling for something less than your dreams. I want you to live the life of your dreams!

Here, then, are 5 Essential Factors of Financial Abundance:

“The Abundant Mindset”

Thousands upon thousands of books, articles, media, programs, and so much more have been produced that discuss the awesome power of our minds, and the influence of our thinking upon our lives. It is difficult to say enough or emphasize enough that truth. As I see it, we are exactly as we think.

In my work, I recommend the adoption of an “Abundant” mindset. This means so much more than finance or money, however, for the purposes of this article, I will discuss abundance only as it applies to the world of money and finance.

A financial abundance mindset means enjoying an abundant amount of money, and yet not allowing greed. Greed does not work (sorry, Gordon Gekko). Of course “financial abundance” will be a relative concept; it will probably mean something different to each person. Greed, however, is fairly obvious; it is almost like knowing (within your mid or heart) the difference between right and wrong.

Further, a financial abundance mindset means having the monetary means or resources to enjoy an abundant lifestyle, yet balancing your financial wealth with philanthropy and generous giving (see point 4). When one’s personal motives are clearly defined and one’s goals are aligned with those motives, then financial abundance becomes clear.

“Specialized Knowledge”

The largest difference between the rich and poor (or the “haves” and “have-nots”) is knowledge. Or, more specifically, the largest difference is a specialized knowledge; meaning that they have the “right” knowledge and also know how to use that knowledge to their advantage. In other words, specialized knowledge is the information or data itself, coupled with the wisdom to know how to use the information or data.

For many, specialized knowledge is an academic education such as medical or law school, while for others this might mean computer programming, aviation repair, or something. Further, many of those with a financial education know how to leverage their own money to make more money. Obviously the point is that specialized knowledge translates to earning ability.

“The Power of Compounding Interest and Investing”

For many people, diligent savings and investment of a consistent percentage of income over considerable lengths of time has lead to financial abundance. I would certainly add that economic factors always play a significant role with regard to risk in investments. Even so, living well within one’s means while investing and saving can very often lead to financial abundance.

“Generous Giving”

Generosity does not necessarily mean giving away or donating money. Mr. Zig Ziglar has said: “If you can dream it, then you can achieve it. You will get all you want in life if you help enough other …