A Human Approach

Jae Rang Headshot


Aha! Moment Monday

In an effort to help my son become financially literate at a young age we set up a system.  It included him having control of his money as well as identifying ways in which to earn, spend and save it.  Part of that system mandated that his earnings (gifts, allowance or otherwise) would be divided into three buckets: saving (40%), spending (50%) and donation or investment in another (10%).

My son became financially responsible very young and purchased large and meaningful items on his own.  (ATM does not stand for Anything Through Mom).  He earned an “entrepreneur of the month” award in the fourth grade; this, in recognition of his picture frame business (he decorated and sold cardboard picture frames) from which he donated 25% of the proceeds to his elementary school for gym equipment.  The effort was worthy in that it afforded a selection of balls for the gym, earned him the first-ever award created by the Principal and empowered him to be responsible and accountable as an adult.  Managing the fruits of his labour instilled confidence.

One of my business friends has a similar system with her small children except she charges them 50% tax, the balance of which is split between savings and spending.  The tax goes into a family pool of tax to be used as a family.  (I think the kids should negotiate a lower tax bracket but they’re still young and gullible.)

In a Forbes article on the U.S. taxation system, the writer suggests that the concept of high tax of the wealthy to support the less fortunate doesn’t work and isn’t necessarily fair.  While there is plenty of argument for and against, his point was greater.  Following a 40-year trend, recognizing that the rich tend to spend more money on services and the poor tend to spend more money on commodities, he cited that over this period, the cost of things – even food – has fallen relative to incomes but the cost of services has risen.

So the rich always find ways of making the money they want no matter what?  Is there a secret sauce?

Aha!   ~ Your worth begins with your belief in yourself

Aha!   ~ Your worth begins with your belief in yourself

It was worth repeating.  Do you know that if someone holds a negative belief about themselves that you can praise, compliment or encourage them all you want, if what you’re saying doesn’t align with their own belief in them they’ll reject your compliment?  How difficult is it to command financial wellness when you don’t believe, at the core of your being, that you deserve it?

Then there are people like Oprah that no matter who told her she wasn’t worthy, her inner belief fuelled her flame of determination to prove them wrong.  She is now not only rich financially but rich in knowledge, friendship, talent, the ability to inspire and support and in so many other ways.

Some of us had a “luckier” start than others but I’m sure you’ll agree that there are people of distinction who came from humble beginnings and others who were afforded all opportunities and can barely make a go.

True wellness in all aspects begins with belief.


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