I dedicate this blog to my uncle – Gopal and to Robert Kiyosaki for covering a wonderful financial concept that is not taught in school.We have heard this phrase –Time is money!
When it comes to assessing how we spend each day of our life building and learning everyday -it can categorised into 7 major spheres:
- Spiritual ( Mind , Body & Soul )
- Personal (Influence, Network, Identity , Hobbies , Interests , Character , Core Values etc)
- Professional (Career , Skills , Profile , Expertise etc)
- Health & Wellness (Fitness,Medical,Meditation,Yoga,Gym )
- Financial ( Company , Assets , Liabilities ,Expenses, revenue streams , taxes , cashflow )
- Family ( Friends , Relatives , Colleagues , Neighbours )
- Society ( People , Culture , Service to Humanity , Social Influence , Social relations )
Each one of us will give priority to any one of the spheres at any point of time and when it comes to finance -every human need is to achieve ‘financial freedom’ which means freedom of “Time” & “Money”. Let me delve upon the cash-flow quadrant as a topic which I found interesting.
People will generally fall in one of the 4 Quadrants*
Quadrant 1-LOTS OF TIME AND NO/ INSIGNIFICANT MONEY
The question I ask them: What are you living for, if you can’t use your time to do anything useful for yourself and others around you.?
Quadrant 2-LOTS OF MONEY, BUT NO TIME
The question I ask them: What’s the use of money, if you don’t have the time to enjoy it!!! You anyways can’t take the money with you to the grave!
Quadrant 3-NEITHER ENOUGH MONEY NOR ENOUGH TIME
The question I ask them:
You are busy doing what?? Building someone else dreams? Are you happy to living a life of mediocrity.What are you proud of being in a JOB!
It does not BELONG to you. It’s like being proud of your neighbors newly built mansion!!!!
Quadrant 4-LOTS OF MONEY AND LOTS OF TIME
Examples of such people are those who are big businessmen or investors who have created a System-centric business, which is able to generate large amounts of passive income.They are
Able to generate large amounts of income without the need to put in their time.That is because they have created a system, where they can leverage other people’s Time, Money, Skills, Effort and Knowledge. This is the only Quadrant, where people will have BOTH-“Freedom of Time” &”Freedom of Money”. This is what is called as Financial Freedom- the state where you have true ABUNDANCE of Time and Money to do “What you want to do” and do it “When you want to do it”.
The question I ask them:
Do I deserve a Life of Abundance and Financial Freedom?
Is Freedom really important for me?
Do I truly believe that I “Deserve” to be Wealthy, do I believe that have the “Desire” to be wealthy,and finally do I have the “Determination” to make it happen for me?
QUESTIONS THAT YOU NEED TO ANSWER YOURSELF
Which quadrant do you think you are in NOW?
Which quadrant would you like to be in Eventually?
Is it really important! Do you have DREAMS that are BIG ENOUGH to challenge you and bring the best in YOU. Will it make a difference to your life! Will it empower you to make a significant difference to the life of others!
If this article has got you thinking then it’s time to Act on it!
I leave you with this new insight on Cash-flow Quadrant to enlighten you on current financial situation & help you become financially free!
*Borrowed from Robert Kiyosaki’s Cash-flow Quadrant concept.
Image Source : http://www.lowesforpros.com
** Disclaimer :The author does not have vested interest in Robert Kiyosaki’s business or is not equipped to advise in financial matters nor is responsible for any consequences or actions advised in this video.An individuale must take precautionary steps before actioning on any advise provided here and take personal responsibility in making informed decisions in financial matters.This is purely one’s personal views & opinions and perspectives.