Understanding Karmic Influence on Personal Finance
Karmic forces are our creations; we actually control them.
As a keen observer of life, examining people’s predicaments or comforts, I would wonder why even some people are burdened with money issues while others always get by like they never run out of financial luck. From the many that I came to know, there seems an almost-solid basis to conclude that people’s money destinies are the result of their perception and attitude toward money.
People who believe the money aspect of life needs no planning because of the belief that it will be “divinely provided” almost always find themselves in direct financial straits. They will then stress out themselves looking for money by getting quick loans with high-interest rates and rely on the generosity of others, oblivious to the fact the assistance given represent hard-earned money intended for something else. This inconsiderate behavior and laid-back attitude toward money eventually traps them in a financial rut so deeply it sometimes take a entire lifetime to climb out of.
Conversely, people who live carefully planned financial lives are almost always ready for every circumstance that they find themselves in. As they need not scramble for money because all have been conscientiously laid out, these people exude the positive vibe even in adverse situations and continue to be blessed with good fortune fostered by their financially well-organized lives.
We usually refer to karma as the resulting effect of past actions, good or bad, in our present and future lives. It defines our destiny in all aspects, whether it be on our relationships, career, health and personal finance.
Understanding karmic influences in personal finance is the nonnumerical aspect of personal financial planning. Its foundation is based on the belief that “financial success is established by integrating what you personally value into your personal financial decisions” (Robert Laura, Financial Karma, 2005).
While our financial lives are better guided with a “technically written” financial plan, we also attract karmic forces that impact the way money flows in and out of our daily lives. How we surround our lives with these karmic forces is determined by our general appreciation of money and its role in our lives, our habits and behavior that very often were formed from our financial upbringing, unresolved emotional issues and the personal goals we have set for ourselves.
“The underlying concept of karma is very straightforward: positive actions attract positive results and negative actions attract negative results. Therefore, the process of improving your financial life can begin immediately by simply making more positive financial decisions than negative ones, (Robert Laura, Financial Karma, 2005).
Negative financial decisions are actions without the careful regard for money and the people who painstakingly work hard to earn them. Money earned from illegal means, such as smuggling, medical malpractice, selling counterfeit products and all types of get-rich-quick scams, never last long. Reneging on payment commitments, hard-selling by lying about a product, killing the competition via unethical practices, bribing government officials to seal a deal, and not paying the correct tax are examples of actions that generate negative financial karma. Even such seemingly innocuous actions as delaying bills payment, racking up huge credit card debts and “keeping up with the Joneses” when this means making a lot of sacrifices for a few moments of financial euphoria gets people into trouble.
On the other hand, positive financial karma is generated by using money frugally, scrupulously and where it is most beneficial to many. They say that “you must take care of money for it to reciprocate the same accord to you”. Living within one’s means, prioritizing needs over wants, settling debts, planning and saving for expected and unexpected life situations, donating regularly to charitable institutions, and taking up an advocacy to improve the conditions of the poor all bring forth positive financial karma.
But just as it is in addition, negative and positive forces cancel each other out. If one tries to do a positive action to temper what one consciously did as negative, one could end up with a negative karma and may not prosper in life.
The key to benefiting from financial karma is putting order, discipline and control in our personal financial lives. We are, after all, the “masters of our destinies.” What happens to our financial lives is purely the result of our day-to-day actions. Karmic forces are our creations; we actually control them. The financial mechanisms that we control are those that deliver us to our financial destinies.
Eve Reyes Mercado is a registered financial planner of RFP Philippines.
Source: http://www.businessmirror.com.ph/understanding-karmic-influence-on-personal-finance/
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