I bet you must have noticed many people amongst your network who keep accusing their organization for not providing them a high pay that they deserve, and consider their employer as the biggest reason for their stagnant bank account statements. This segment of people includes machines that are completely dependent on their employer for their financial earnings graph.
Ravi, one of my old good friends is one of them. Yes, I’d call him a machine because he has become a victim of the RAT RACE, his mind has been completely occupied in a well designed matrix, wherein his expenditures are planned exactly equal to his income. He would deem the awaiting desired expenditures, only when his income rises. Ideally, it should be EXACTLY OPPOSITE.
Ravi should initially draft a list of desired expenses, and then should link it with his existing income. The gap hereby would then give birth to his imaginations, where a tremendously smart human mind will come to work. This working on his own planning will give a meaning to his life, and he shall soon see a day when he lives the life he desired to live. He’ll never then swim the way his circumstances (boss, life, inflation) want him to. By doing so, he’ll gradually be on a day when his income will exceed his expenditures, and this would be his pathway to become rich.
In simple terms, instead of being over dependent on his job, and blaming his organization for not giving him the ‘raise’ that could meet his expenditures, Ravi should make his own income list, of which job’s income would be just a part.
Now, Ravi, as every employee, should have two separate lists:
Income through Job: Where he gives his time & mind throughout. This obviously should be something that he loves to do, because he’ll be required to spend his entire day on this. Hereby, his income for initial time may be low, because smart people chose job mainly on basis of their interest & love, not only on initial pay scale. However, because a human performs well when he’s doing what he loves, he will earn big monetary rewards in the longer run.
Income through businesses: Where his money & ideas works for him, and multiplies his wealth. This should strictly be ‘not’ chosen on love instincts, but on monetary instincts. This could be something which asks for Ravi’s money (investment) or brains, but not much of his time, and in return should provide good monetary benefits. For say, spending in real-estate, gold, mutual funds, someone else’s business etc.
Job should be one (that you love to do), businesses could be many.
What is the business of McDonalds? Selling Burgers? Big NO!
Yes, many among us would think so. But, quite shockingly, it’s wrong. His job is to sell burgers, but his prime business is - Real Estate. I recently read a case study on McDonalds that said that they earn maximum of revenues through sharing benefits of premium places that there franchisees are required to get as an essential condition of their franchisee agreement.
So, Ravi should ideally stop blaming his boss for his monetary problems, and should make his specific Financial Planning. More than that pay raise, he needs to become financially literate. This will certainly solve his much bigger problem of his life. In near future, his job, life & bank account statements, all will blossom.
Guest Author: Manish Vaswani, Co-Founder & Director, Zootout
