Posts Tagged ‘personal finances’

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Running a Marathon? Then Train for it.

In Happiness,Mindset on June 15, 2011 by thefhpblog Tagged: , , , ,

Are you money trained? Seriously, are you qualified to handle money?

In the United States, you must receive training to drive a car, yet none to buy it. You must qualify to attend a University, but have no training on how to pay for it. You need to have proper training to qualify for a good job, yet none to handle the paycheck received.

Now a common response I hear is, “so what’s the big deal? You get a job, make money and either buy stuff or save it” How is that strategy working out for our society? It’s not.

Now I am not talking about being trained to handle the money you currently have. You  most likely have already received all the training you need to handle your current level of wealth, how else would you have arrived where you are?

I am talking about being well trained to handle the money you want. The level of financial happiness you really desire.

So there are two things we are dealing with here:

1. Proper money training.

2. Mental equivalent.

Proper Training

Now sure you may be familiar with your local financial planner who host’s a class on how to use financial tools, such as mutual funds, or a 401k.  This is only training on how to use a tool, not create and sustain financial happiness. This is like going to school to become a surgeon and on the first day you are given a scalpel and told to “get to work?”

Here is a little secret. Proper money training will not be found at  your local bank, your local investment group, nor on late night TV. You have to learn it on your own. I know, not the answer you wanted.

You have to put in the time to do things like read books or network with those who are already at the level you desire. Ask questions, take risks, be in action. All the things most people do not want to do. Hence why so few achieve a level of financial happiness greater than those they hang out with.

Think about it the next time you buy a car or house. Ask yourself, am I qualified to make this money decision (the real estate agent and car dealer will say you are). But are you? Would someone with the level of financial happiness you desire make the same decision?

Mental Equivalent

For someone who is focused on being able to run one mile, running 26.2 miles (a marathon my friends) may seem impossible. For someone focused on running 26.2 miles, running 100 miles (an ultra-marathon) may seem impossible.

If you are focused on earning $100k per year, earning $1 million may seem impossible. If you are earning $1 million, earning $35 million may seem impossible.

Shifting your mental equivalent is so easy, yet so hard. It’s easy to commit right now being a Million-aire rather than a Thousand-aire, the hard part is actually believing and taking action.

You have to raise the ceiling of what is possible and believe it! Then take action with your new level of happiness in mind. This isn’t hocus-pocus here. Just commit to going bigger despite not knowing the how.

There are horror stories of lottery winners who, after winning a huge sums of money, blow away all the money and end up back where they started (or worse).  Think about it. If you take someone who is comfortable with how to make and spend $35k a year, and drop $26 million on them, they will bring themselves, unconsciously, back to their level of comfort. Thus spend the money and get back to a financial state equivalent to the way they think and believe.

Take chance. Raise your ceiling of what you think if possible, and dive into books, blogs, and find those who have the financial happiness you desire and learn from them.

The Financial Happiness Project is a great resource. Let us know how we can help point you in the right direction.

Cletus Coffey is an athlete and social entrepreneur.  He is the founder of InnovateLive, a cause marketing organization dedicated to raising funds and awareness for the world’s most pressing causes.

Articles

A Man That Lost His Life’s Savings Inspired Me

In Mindset on April 11, 2011 by thefhpblog Tagged: , , ,

Matt Weinstein, a man that lost his life’s savings in Bernie’s Madaoff’s notorius scam inspired me today in his speech “What Bernie Madoff Couldn’t Steal From Me”

Well not the fact that he lost his life’s savings as much as his reaction to what happened.

I can certainly relate where financial events in my life were so impactful, it seriously affected me emotionally and mentally and I’m pretty sure they weren’t of the size and gravity of what occurred to Matt.  So, why did he have such a different reaction and why does it matter to you?

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Articles

Let’s Talk About Money

In Finances,Mindset on March 27, 2011 by thefhpblog Tagged: , , , , , ,

Everyone has at least a homespun philosophy about money so let’s talk about it.

Some think money is good, some think it’s bad. Some treat it as nothing, some treat it as everything. Some love it, some hate it. Some hoard it, some give it away. Some display it, some hide it. Some risk it, some safeguard it. The list is endless and fruitless.

I never met a person who didn’t want money, but I know several who pretend not to want it. Some admit they want it, some deny it. Some want lots of it, some just enough to get by. Some are at ease with it, some are uncomfortable. Some feel guilty because they have it, some because they don’t. It brings out the best in some, and the worst in others. The list is endless and fruitless.

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Welcome

In Welcome on March 27, 2011 by thefhpblog Tagged: , , , , ,

Raise your hand if you’re happy with your personal finances. Is your hand up?

Hello and welcome to the Financial Happiness Project(fHp) blog. Our purpose with this blog and program is simple, help you become financially happy about your personal finances. In fact, it’s our mission to help 500 adults through our paid program while at the same time gifting the program for free to 500 teens.  You see, we don’t just want to help you improve your financial position. We want to prepare teenagers for their financial future so they won’t need our program as adults.

With this blog, it’s our goal to provide a place for you to gain awareness, knowledge, understanding, and resources that will help you build a solid financial foundation. You can expect to read articles and blog posts that focus on several topics related to your personal finances. We’ll be talking quite a bit about happiness. What creates happiness, how to achieve it financially, professionally, and personally. As well as, how closely it’s connect to your mindset and personal life experiences. We’ll be talking about the U.S. economy and the world economy and how you play a role in it no matter who you are and what you do.  We’ll also be sharing practical financial advice and strategies you can apply to your every day finances.  There will be a lot to learn and absorb here, but you won’t just be hearing from me.

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