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Saturday, December 03, 2016

Knowing is ONE THING, Doing is DIFFERENT THING!

Knowing is ONE THING, Doing is DIFFERENT THING!

by Mr. B. Padmanaban, Fortuneplanners.com

In life, we tend to know many things and we often claim that we know everything, but if we know everything then our quality of life will be much better than what we are living today.

So, even though we know everything, we are not doing or implementing whatever we know, that is where the big disconnect comes!

When I meet 100 out of 98 people, everybody is telling that they have the shortage of money. I was wondering, how come the individual earning so much of money, still they left with shortage of money.

I keep exploring this and talked to many individuals, and I found the following, hope it will be applicable to one and all…

1. If somebody feel something is shortage and if it is adequately supplied then the shortage will narrow down.

Here, the person who earned Rs. 5,000, 15 years before is earning not less than Rs. 1 lakh today, and 15 years before also the person felt that shortage of money and today also the same. Assume the person gets 10 lakhs in few years will also feel the same.

2. So the problem is not with the money and how one handles the money, due to peer pressure and life style spending demands, individual keep increasing their WANTS bar and there is no end to it, is the main reason.

3. In other words, most of us carry a leakage bucket and if someone is asked about this, then their standard reply would be, I am earning so much, but could not save anything and in fact, I have not spend anything unnecessarily. So obviously, the person overlooks something here.

 B. Padmanaban, CFPCM

4. If someone feels that in spite of all his earnings, they could not save and they are serious about this problem they should seek professional help.

5. Professionals will take unbiased look about their individual spending pattern, and will pluck the holes, so that everything is in order, which paves the way for creating investment surplus which was not found for ages!

6. I believe, irrespective of individuals position and earning capacity, one is creating 50% resources and the remaining 50% can be, how one deploys his resources (Money). 

Unfortunately, 95% of the individuals miserably failed in using the resources which they earned very hard.

7. When the individual is putting 100% of their effort to make 50% of the resources, why don't they hire a professional to manage their resources with 1% (FEE to the Professionals) of their resource to manage 100%.

8. Since, they are not willing to invest 1% and end up losing 50%, is the big reason for leakage of buckets.

9. Self-medication will never help, and in the process individual do not understand what is investment and what for they are investing, and they always look at the absolute value and never understand what the purchasing power is!

For example, most of the individual is happy if they get back their principle after 5 years also. Because, he got the exact money back, but in the last 5 years the purchasing power comes down to 50%, so in reality he lost 50%, which very few understands.

10. If you look at the past, the individual will not take a call just like that when it comes to spending; they always consult with their parents and do it and most of the times they handed over their salary to their parents.

 In those days, people spend within their limits, today we are living in a nuclear family and we spend left right and center impulsively is the root cause for all the financial problems. No Control!!!

To conclude that Knowing is one thing and DOING is totally a Different think altogether!!!

B. Padmanaban
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Knowing is ONE THING, Doing is DIFFERENT THING! Reviewed by S. Chitra on December 03, 2016 Rating: 5 Knowing is ONE THING, Doing is DIFFERENT THING! by Mr. B. Padmanaban, Fortuneplanners.com In life, we tend to know many things and...

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