Sunday, 7 February 2016

Financial Success – Stepping stone towards holistic happiness

I have hardly found a person so far who is not overly focused on ‘making money’, ‘growing bigger’ or ‘being financially successful’. By ‘overly’, I intend to express that the time spent talking about these aspects far outstrips all other facets of life that may be potentially the happiness quotients. When goaded, some streaks of semblance emerge but the intensity is very weak. As a life coach, the area of financial goals is inseparable part of my work, even though it may rub shoulders with financial advisory.


I, fundamentally believe, that everyone has a right to prosperity and abundance, and all are born with innate ability to attract them. The extent of success though, lies in developing financial wisdom, along with skills to make money. The fact is, we all live with bills to pay, and a wide variety of needs to fulfil, and pursuit of holistic happiness may be a utopia without financial success. Here are some pointers around building financial wisdom;


  1. Keeping goals in sight – Money can fulfil certain goals, and assigning a budget to each goal helps track progress and maintains focus. Beyond finances, this also establishes milestones of success till the day one may like to fearlessly pursue other passions.
  2. Mitigate risks – Capital protection is the base case scenario in any financial plan, Greed or fear may adversely impact the financial plan. Overly Leveraging is the biggest disaster one can inflict oneself with.
  3. Build assets, not liabilities – With passage of time, it is important to build assets that appreciate and fetch compounded gains, unlike unnecessary liabilities that will dent you with compounded liabilities.
  4. Diversify – Not putting all eggs in one basket is the mantra for long term success. Use cyclicality of asses classes to your advantage over long run while mitigating at the same time.
  5. Start early – Money has ‘Time Value’. Make the most of time, and not always ‘timing’. History suggests that disproportionate appreciation is observed when assets are given longer horizon.
  6. Manage temptations – Most people who hit a bounty get tempted to blow it up. While rewarding oneself is a great idea, it is better if it in proportion to a future need. Each one of us is different, and therefore may use rationale and prudence.
  7. Money depletes – Money eats itself (Inflation) if not mobilised and made to work. The value erodes and it never seems to be plenty with every passing year. Let it work FOR you and beat inflation to retain its value and grow in real sense.
  8. Know your ability to manage money – If one does not know how to manage money, never underestimate the need for an expert. I recall many who could make but not retain financial success.
  9. Money has numbers- Numbers never end, and life is finite. While chasing financial success, understand that it will soon cease to be a driver or satisfier in our pursuit to holistic happiness.
  10. Manage equilibrium- Learning to be calm amidst noise helps in focusing on one’s own goals. Treat ups and down in the journey to financial success may be temporary as long as consistency over long term is maintained. Understand that keeping and building skills is required to attract abundance. Keep learning.


Pursuit for financial success and stability consumes large part of our lives, time, and many other sacrifices. Persevering this phase with some discipline can help attain financial success over time.I know a few who have learnt the mantra of making their financial success work for them while they pursue their passions and life goals, and paving their way to holistic happiness.


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