How to improve your financial health

How to Improve Your Financial Health

by Dr. Larry Wilson — 

”Realizing that money follows certain laws helps contribute to success in this area.”

The next few years are likely be a time of transition, during which old financial structures collapse as new and better ones replace them. Overall, the changes will be wonderful. However, the transition may be difficult for those who are unprepared.

Changes could include a drop in real estate prices, inflation that allows the dollar to buy less, rising fuel prices and even less affordable healthcare. This article discusses ways one can prepare to live securely and comfortably in spite of these changes.

What is money?

Money is a storehouse of value and a convenient medium of exchange. Money allows people to compare values and place a relative price on items as diverse as a concert, a racehorse, computer software or a doctor visit.

Money is absolutely necessary in a complex society. It helps people make choices in a world where time and physical resources are limited. What people value enough to pay for determines which food is grown, which things are manufactured and which services are offered.

Many things have been used as currency in our country, from seashells to hemp in early America. Easily identifiable and durable, gold and silver coins have been used for centuries around the world. Paper money and checks are more recent inventions, followed by electronic money in the form of credit cards and electronic systems such as PayPal.

Money is so important that it is easily subject to human corruption. The worst offenders are almost always governments, because they can force their citizens to use their official money, even if it is worthless. Governments also manipulate the value of money, often by printing too much paper money, by setting artificial interest rates and by giving monopolies to some corrupt banking institutions. With these

questionable acts, governments often keep their people impoverished while their elite steal the people’s earnings. Inflating currency by printing too much paper money, for example, is a hidden tax. Your money suddenly buys fewer goods and services. It hurts the poor the most, yet very few recognize the origin of the problem.

The U.S. Constitution states clearly that gold and silver are the only legal money in America. This directive was written by the founders, who knew that governments traditionally inflate their currency. However, this provision of the Constitution was subverted as part of the “New Deal” in the 1930s. As a result, our paper money is worth much less now than it was when we were on the gold standard.

America also was established without a central bank because central banks are notoriously corrupt. For more than 100 years, America prospered with “free banking.” This meant that anyone could open a bank, and anyone could issue paper currency. Each individual consumer decided whether or not to accept another’s currency, similar to merchants today who can choose whether to accept Mastercard or VISA in their businesses. In 1913, however, the Federal Reserve Act ended free banking, and an era of vast money manipulation and inflation began in America that continues today.

Money is indeed a complex subject, and those with knowledge about it often do not share their knowledge freely. This has created many negative attitudes about the subject. So what can one do to happily and successfully handle money today.

Attitudes that block receiving money

Identifying negative attitudes about money is the most helpful thing a person can do to be successful with it. Also helpful is realizing that money follows certain laws, which, if obeyed, contribute to success in this area. Do you believe any of the following common negative statements about money?

• Money is a bad thing. This is a common attitude today. The opposite attitude is: I respect and appreciate money and take responsibility for learning about it.

Taking responsibility for money is not the same as creating attachments to it. Many poor people are very attached to money. Maturing your attitude about money involves an attitude of detachment while taking on the responsibility of a wise steward. If you are not willing to learn about money, respect it, love it, embrace it and understand the best way to invest it, you probably won’t have it for very long.

• I do not deserve abundance. This attitude may be rooted in guilt or an inability to receive goodness into your life. The opposite attitude is: I am open to receive all good things into my life.

It is difficult to understand why so many around the world starve while we live with plenty. It is, however, our attitudes, our laws and our system of free enterprise that make the difference.

• Being spiritual and having money are mutually exclusive. Implied here is the false belief that only selfish and greedy people have money. One particular quote from the Bible often is used to perpetuate this idea: “It is easier for a camel to pass through the eye of a needle than for a rich person to enter the kingdom of heaven.” This is untrue and probably a mistranslation, as some great biblical figures such as Abraham were very wealthy.

This attitude also may be due to false pride, the feeling that you are somehow a better person when you have to scrounge for money. This perspective allows you to judge others and feel superior to them. The opposite belief is: Money is a gift from God. It is true that money can get in the way of spirituality, but so can poverty.

• I am ignorant about money and people always take advantage me. Hopelessness and the victim mentality underly this attitude. In reality, you may have taken on this common belief out of your compassion and your power. As you resolve your own money issues, you make it easier for millions of others to resolve theirs as well. This is a spiritual truth, no matter how far-fetched it may seem. An opposite perspective is: I am growing in my knowledge of money, and I use it wisely.

• There is not enough money to go around, so I remain poor. Underlying this thought is a belief in scarcity. Buckminster Fuller proved years ago there is plenty to go around by showing that wealth consists of the 103 elements and the knowledge of what to do with them. Since the number of elements is fixed and our knowledge of their use is growing, wealth will always continue to increase. Abundance is the true state. The only reasons one does not experience it are their beliefs and the expressions of those beliefs, including the view that our banking system takes advantage of people. A new attitude is: I live in a world of abundance, and there is plenty for everyone.

Start to change your attitude about money by noticing any of these negative thoughts without resenting them. Begin to replace them with the opposite thoughts.

The laws of money

Money has basic rules, just like gardening or any other activity. Learning the rules and following them closely creates success in this area. Here are some of the basics.

Income must exceed expenditure. Many, if not most, people spend beyond their means. There is no shame in living a simple life. In fact, it is essential at times to leave room in your life for healing, for creative endeavors and for spiritual development.

The law of compound interest. Money grows much faster if you save and reinvest the interest. Reinvesting the interest is called compounding. For example, earning one percent per month simple interest on $1,000 means you receive $10 every month. At that rate, it takes more than 40 years to earn $5,000. However, if you allow the earnings to grow instead of spending them, in the first month you receive $10, for a new total of $1,010. The following month, you receive interest on $1,010, or $10.10. Each month, you continue to reinvest the interest, or compound it. With compound interest, it takes less than half as long to reach $5,000. This is a very important principle of investing. It is also the reason why a mortgage or a loan can increase the cost of a house or car severalfold.

Supply and demand. People pay for what they want. In practical terms, this means that if you can find a “niche,” or a demand that is not being fulfilled by others, you can do very well. Be creative, as it can be anything. This is what entrepreneurs do the best. They find a demand for a product or service and fill it. It is about providing value for people.

Be of true service and high integrity. Some people make money as parasites and cheaters. However, earning money usually has to do with providing quality goods or services at fair prices and doing it with consistency and integrity. Some businesses tell their employees to go the extra mile and give people even more than they have to.

If your business or job is not going well, be sure you are doing your best to give service with integrity. It also is necessary to be very practical. Get feedback from your customers. You may find the service you think is excellent may not be perceived that way by others.

Parasites, by the way, usually exist due to artificial demand or artificial suppression of demand due to licensing laws, tax schemes or subsidies. Without these laws, most people would be much better off than they are today. This is not cynicism, just the truth.

The law of chance. Rather than investing their money, many people play the lottery or visit casinos. These activities are ruled by the law of chance. This law is no less rigid and mathematically defines the odds of your winning. The odds are very poor! Interestingly, the largest gambling operations in America are run by our state governments. They even encourage gambling through television and magazine ads.

Success in today’s world

1. Simplify your life. Most people buy things they do not need and in many ways spend money unwisely. This depletes resources and creates extra stress. It is easy to become caught up in a materialistic lifestyle that does not serve our highest and greatest good. We are spiritual beings first. “Stuff,” beyond the basics, is not necessary.

Many people, if they are honest, use things, services, trips and other expenditures to compensate for their lack of joy or excitement in living. By noticing your own behavior around this, you can avoid many money-wasting activities, from excessive shopping, dining out and traveling to the unnecessary purchase of new cars and much more.

Work on identifying other ways you waste money. Keeping track of expenses and reviewing the record periodically can be excellent for this.

2. Get out of debt. Debt in general adds stress, and interest payments make the items bought on credit much more costly. One exception is a home mortgage. However, even here, less debt is much better.

3. Buy some gold, silver or other tangible items of value. Having some liquid cash is also good. These are safety measures in case a financial upheaval occurs. They may be good investments as well.

4. Invest in yourself. This includes your health, your joy and your skills. Health must come first. It makes little sense to have college degrees and a million dollars, if you have cancer. There are many ways to reduce the chances of illness and disability, starting with adequate rest and sleep, excellent quality food, clean air, pure water, a safe environment and happy relationships.

Learning skills you can use will assure that you will always have employment, even if it is not your ideal job. Investing in your creativity can bring a whole other level of wealth, provided you follow through to “bring it to market.” This way you will bring forth new ideas, new services and new products that people will benefit from.

5. Be cautious with all investments. Most investments are not sound ones. Investment is an area where low integrity abounds. A good investment is usually a home to live in. Poor investments include fancy cars, fancy clothes and most money offers that come through the mail or the Internet.

6. If possible, set up your own business. Do what you see needs to be done and do it your way. Work at something you believe in so you are happy in your work. It can be anything at all that people need. If you are honest and responsible, people will request you or your service and will not just hire the next vendor for their needs.

7. Totally avoid easy credit. The exception is if you are highly disciplined and know you can pay everything off.

8. Use common sense, and above all be practical. Making and keeping money is often a very down-to-earth activity. If something you are doing is not working, make the necessary changes so you can respond to people’s needs. Money concerns require great discipline in this sense.

9. Use care in donating your money to the needy, to charities or friends. Often giving comes from an ego feeling that you can fix others, or a need to be loved in return. Why some are poor is a complex issue. Learning to give money wisely is a skill in itself. Also, always include yourself in the circle of your giving.

Conclusion

Embrace money and take responsibility for it. Observe your beliefs about it. When feelings of victimhood and fear arise, realize they are not just yours. They are feelings shared by millions throughout the world. Work to adopt a positive attitude about money.

Open yourself to receiving all the creator’s love and abundance. Realize that worry, fear, blame and self-doubt are a waste of time. Commit yourself to your freedom; what you commit to, you will achieve. Be practical and patient with yourself. Love your mistakes as well as your successes, and you will prosper. Changes in the world today require that you go back to basics, get out of debt, buy gold or silver for safety and do not overextend yourself financially.

References

1. Fuller, R.B., Ideas and Integrities, Collier Books, 1963 and his other books. Fuller has a superb attitude and proof about the abundant nature of our world.

2. Griffin, G.E., The Creature From Jekyll Island, American Media, 1998. This book is excellent for understanding our banking and money system. There are also many excellent, practical books about money management in bookstores.

Dr. Lawrence Wilson has a medical degree and has been in the health field for 25 years. His books include Nutritional Balancing and Hair Mineral Analysis, Legal Guidelines for Unlicensed Practitioners, Healing Ourselves and Manual of Sauna Therapy and The Real Self. He also co-authored Toxic Metals in Human Health and Disease and contributed to The Dangers of Socialized Medicine. www.drlwilson.com or 928-445-7690.

Reprinted from AzNetNews, Volume 24, Number 3, June/July 2005.