Personal finance, Your lifestyle & Fulfillment

Personal Finance, Lifestyle & Fulfillment and World Economy 

Are they related to one another?
For me they are inter-related, at least in my personal experience. 

This post is also inspired by questions I’ve faced during workshops and coaching:

  • how can we do something what we love and wealth at the same time?
  • I want a 3 storey house for my family, how can I grow my business to get there? 
  • we can’t runaway from money responsibilities, how can we get our lifestyle fulfilment? 

The book I’m currently reading : Winning Psychology of Defensive Traders by Conrad Alvin Lim a respectable Trader and Finance and Economics expert from Singapore, brought me to the inter-relationships of these 3 areas and the result we can achieve in wealth.

Now what has trading psychology got to do with all these questions on personal finance? My take after reading the book – I can relate my past experience with money management and what I want to breakthrough to next level to that of the behavior and psychology of a professional trader. Now to clarify before we go further, we are not talking about the novice trader we often heard, about loosing money to the stock market, or who takes a gamble on stock tips. And I’m not talking about the technique itself but the psychological part of it. The psychology of a professional trader who has the following traits: –

  • he doesn’t follow the herd behavior of chasing after the hottest tips
  • he waits for best opportunity of things at intrinsic value
  • his purchase are driven by the future not on impulse
  • he has a budget and allocation of funds in different areas 
  • he accumulates his knowledge and applies it steadfast – admits when he is wrong, strip off his ego and pride and learn what he could do better next
  • he achieves his goals by being in full clarity of his position, his emotions and act with prudence
Who you are is how your financial status and fulfilment will be. In other words, how you manage your finance and interact with the world economy is a direct reflection of who you are. 
herd instinct
World Economy and You -I find that I acted more consciously and more fulfilling when I read up all about economics and how the world economy works. It was the subject I disliked most in school, but ever since an embarrassing job interview (that I will share later) I had a mindset shift and started to view and live my life fully engaged with all the resources around us.  Our psychology in purchasing and fulfillment, do we drive the market crazy with panic buying or focus on satisfying our lifestyle with purposeful spending? How would our behavior impacts the city, the country we live in, and subsequently affect our achievement of our financial goals? 
Fulfilment – The late Steve Jobs once said,
“People think focus means saying yes to the thing you’ve got to focus on. But that’s not what it means at all. It means saying no to the hundred other good ideas that there are.”
You have to pick carefully. We don’t have to be frugal to the point of missing out the life we want. And yet, to have the personal fulfillment, all we need is to focus and choose carefully those things in life that matter the most and then go for it. This way, we don’t get sway by the noise out there, this way, we are acting consciously with abundance and fulfillment.  
It is idealistic to say we can have a non-panic, peaceful behavior to our lifestyle and world economy, but I believe it is a responsibility to start with, being conscious of what we truly need, our allocation to each quadrant of the pie and how to have fulfillment without panic behavior and chasing after . This way, we can build our wealth, achieve what we want in a steadfast, conscious and purposeful way.   

Here’s something that has worked for me : to be ready to catch new opportunities, 

money management

 

 

 

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