Passion. What a word to describe the search for financial independence. The amount of passion you have determines how quickly you will get there and in what shape!

Let me explain: Passion is a measure of how exuberant you are in pursuing your goal. The ideal passion would be a raucous, joyful exposition of what is wanted and then a happy assault on the obstacles which are evident with no thought of it not eventuating. Passion degrades to the degree one becomes less certain of one's eventual victory.

That is my view of it!

More axe sharpening

It is so important. Sharpening the axe/ getting your goals solidified, is key to getting a product rather than making a useless contribution. I was reading the book "Science of Survival" over the weekend - or more precisely the chapter on Pleasure Moments - which jumped me into the concepts of Happiness as different to Pleasure, as different to Passion. All three are important aspects to living and to getting the result you want. Currently my view of it is that your derive pleasure from having the money if you have set a goal for its use, while happiness is derived from the overcoming of the obstacles encountered in the activity of making the money, and the passion is the measure of intensity and joy exhibited in getting the actions done. For me, I have to work on the passion as it is not in large measure right now. It may be that there is a cold hard intensity at work as I am certainly driven to making a success of myself. I work at it for long hours, but I see I could do more with the time I have. So for now I am dissecting the passion in hopes of locating the spark of it so I can pour gasoline onto the spark! What a fire we then would have!

More on sharpening the axe

Perhaps the first time you take out the axe, you need to really work on sharpening it. But once that initial sharpening is done, perhaps the re-sharpening takes a lot less. So if you know your financial goals, you just need to revisit them to be sure nothing has changed and then you are set. You have your compass set, the course plotted and you are on your way to your financial goal.

Tried it out a bit today as I got a request for funds. I explained what my next goal is which is in line with the overall goals of the group who were requesting the funds. So I got to keep to my goals.

It seemed to be easy to show them that I had my plan and that I was progressing on it.

You have to believe in yourself. Otherwise you follow the suggestions of others rather than your own dictates. Why buy a brand new car when a 10 year old one will do the same job just as efficiently. Then why not a 20 year old one as those are real cheap to buy. And expensive to maintain.

It is a balancing act of what to get for what you have available without wasting your resources.

I recall that Abraham Lincoln said something about sharpening his axe for 4 hours to cut down the tree in 2 hours rather than spend longer chopping because the axe is blunt. Proper preparation is more efficient than just going at the task.

Similarly in utilizing your money. Spend 4 hours working out what you want to achieve in life and then work out how to use the funds you have toward that goal and then you spend it!

Is this a new approach?

How can I get to say no when it is my own money? Obviously, if someone has gotten you to a point where you are wavering in your resolve, you must be in agreement with them or their aim. This is the crux that has to be weathered. For example if you are eing asked to help someone less fortunate than you are, then you are helping another. I have been able to weather some of these requests, but not all. By offering a small sum and pleading poor finances you can sometimes end up with a small donation which does not really do anything.

But I have learned one thing. Do not give anyone money if they have gotten into trouble financially by illness or losing their job. They have to get out of it themselves which is tough to do but in the end is beneficial for all. But if they have gotten to a certain point and need an investment so as to keep the game rolling, this is a better proposition. You are reinforcing success rather than reinforcing failure. This promotes growth which is the purpose of money.. to apply energy to something so as to make it grow.

Money is a tool. It is not the goal of endeavour. At least it should not be. It is the medium of exchange to enable you to get what you want. As with any tool you have to know how to use it. Sorry is the fellow who has to much month at the end of his money. He obviously spent without seeing what the prudent course was! I have fallen into the trap of listening to friends who needed that bit extra to survive another month. Or other friends who felt I was a good guy and wanted me to contribute to a good cause.

But I fear I have over-reached myself.

Interest has ballooned to usury levels. 25% on one credit card rather than the 1.9% which I have on the 2nd best card. Best is 0% which lasts but 4 months longer! Bother! I hate paying that much interest!

So how come I got myself in this position? To a degree I am a soft touch, a sucker for the plea of distress. But seeing where it got me, I now need to put discipline in so it does not happen again.

Easier said than done!

There is a drill that was proposed by L. Ron Hubbard whereby a finance person stood in front of a mirror and said "no" until they achieved the ability to say that without feeling funny about it. Well I need to do that drill again!

Yet I must say I can say "no" when it is someone else's money. But when it is mine, it becomes a different story!

Next post can go over this dilemma, as it surely is a sore spot!