Today’s Mandala Message: Assets Add, Liabilities Subtract
This week I’m working through Principle #58 “Pay Yourself first” of Jack Canfield’s “The Success Principles”. I set my intention today to ponder the significance of assets versus liabilities. Canfield states: “Far too many people run their financial lives by their expenditures and whims. For most people, their _investment_ model looks like this: Your Income -> 100% -> Expenses and Liabilities…. 0$ -> your assets. [While others] take the money they earn and invest a large portion of it into income-producing assets: Your Income -> 20% -> Your Assets & Multiple Income Streams->100% build more assets. Your Income -> 80%->Expenses and liabilities”. Examples of potential assets are real estate, small businesses, stocks, bonds, gold, interest-yielding accounts, and so on.
I realize that with the way things are today, it would be a luxury for most people, myself included, to invest 20% of their income…especially if they are living paycheck to paycheck. By sharing Canfield’s information, though, it’s hoped that we can change our mindset a bit or plant a seed about the idea of “investing” in assets. Instead of 20%, maybe 10% or 5% or even 2% could be doable. It would be a start. I have a dear friend who’s been doing 5% for over 40 years and it has made a huge difference in her savings. For me, I haven’t thought of it in terms of a percentage. I would put an amount into my savings, and then I would take some out as I needed it. I like the idea of a percentage system and I want to start with 10% (the math is easier). My challenge will be leaving it alone, to treat it as an asset that only grows if it stays there.
A good mindfulness practice would be to consider a percentage of your income that’s workable for you to put towards assets.
So how about you? Do you save or invest a percentage of your earned income regularly? Do you understand the difference between an asset and a liability? What assets do you currently have?
”Rule One.
— Robert T. Kiyosaki
You must know the difference
between an asset and a liability
and buy assets. …
An asset is something
that puts money
in my pocket.
A liability is something
that takes money
out of my pocket”
Blessings,
Maureen
The Mandala Lady
All Things Mandalas
An Invitation
I invite you to color along with me this year as part of what I’m calling “The Year of Self-Exploration and Expansion” with all of my “Mandalas of the ___” (day, week, month, year). If you’re interested in more of a self-exploration approach to coloring, check out my “Coloring Mandalas as Meditation”. You can download this mandala at MandalaoftheWeek.com.
Mandala of the Day 