Dean Rahaman

Personal Health Consultant

Mens Physique Coaching
Mens’s Mental Health
Men’s Hormone Optimisation

“Anyone who thinks that money isn’t important will never have any” T. Harv Eker, Secrets of the millionaire mind.

This was always a tough subject in my house growing up. As it is in a lot of households. The source of all evil as it’s become known, personally I think the lack of knowledge about money is the source of the evil. Not the money itself. I feel the subject of money I feel isn’t spoken about enough. People don’t want to talk about money for some reason and I don’t get it. I love money, I love having it, I love being able to treat myself with it, I love being able to treat other people with it. But most importantly I love the freedom of choice that having money brings.

Why aren’t we taught about money?

This could be a book by itself, so I’m only going to give my overview and let you know what books have helped me with this.

My theory on why we’re not taught about money in schools is because they system as it stands favours the few who own the big, big businesses. The big businesses and governments need people to work for them. So the school system is designed to create the workers and consumers, not to allow people to be creators. This is why bright creative kids who get bored in school get into trouble. It’s because the system and curriculum that’s in place doesn’t allow for creativity and freedom of expression. We’re told through childhood, get good grades, get a good job work till you’re 60 and then enjoy yourself… What’s the fucking point in that?!

This is part of my theory and part of the theory from Robert Kiyosaki, author of the Rich Dad, Poor Dad books which I highly recommend everyone reads or listens to on audio book. He goes into amazing detail about all facets of financial education. From not working for money, to a cash flow quadrant (where you make your money from) and a guide to investing and increasing your financial IQ.

I believe that we’re not taught about money in schools for the following reason. The people who write the curriculum also haven’t been taught about the importance of money. You don’t need to look far to find examples of this either. Look at government spending for road repairs. Rather than actually budgeting well. They encourage spending as much as possible within a time frame. If they spend all the money, then the budget is granted for the following year. Rather than encourage sensible spending and coming in under budget and saving money. They’re encouraged to spend and spend and spend and create more debt.

Do ou really know where all your money is going?

“If you do not see great riches in your imagination, you will never see them in your bank account” Napoleon Hill

Is Money really the Source of Evil?

I have never understood why people think that money is evil. Or that it causes people to do evil things. Which has happened, people tend to shaft people for financial gain. But is that the money doing it or is it the nature of the person that’s doing it?

As far as I’m concerned people have the capability to do incredible good and incredibly bad things. To quote Jor-El from superman. “They can be great people Kal-El if they wish to be. They only lack the light to show the way”

For me, money allows you to be more of what you already are. If your nature is kind and generous, money allows you to be more generous and more kind to more people. If you’re tight stingy, mean and a twat. More money allows you to be a bigger twat, meaner and more stingy. Its people and their behaviours that are the problem, not the money. Money by itself doesn’t actually do anything, it’s the way people behave around money and the value they put on it that’s the problem.

Making a conscious effort to control where your money goes can literally change your life.

The power of managing your income.

I wish I could take full credit for this but credit has to go to Mr T. Harv Eker and his 6 jar money management system.

It goes like this: Any money that you receive gets split 6 ways into the following categories.

  • Necessities
  • Long term savings
  • Investments (financial freedom jar)
  • Education
  • Play and blow it for fun
  • Charitable giving

 These percentages are only a guide. What I did for myself was to work out my expenses per month and then work out how much I need in my necessities account to cover that. I then worked out what percentage of my pay check that equated to. Then I divided the remaining percentage into the other account categories. What I did was actually open 3 savings accounts. The financial freedom/investments account, education account and long term savings account with my bank. I then opened up a current account for the combined play and giving account.

 

Each month for me I following the exact model above. Fortunately for me 55% covers my necessities and the rest I can distribute to the other accounts. The difference this has made to my life has been incredible.

 

The importance of doing over knowing

I’ve known about this system for about 2 years. It’s only in the last 3 months I actually started doing it. I made every excuse under the sun for not doing it. I didn’t have a regular income, it’s not that easy to open up accounts, I haven’t got time to manage money that way. The list went on and I can tell you now, it’s all horse shit! It took me 10 minutes one Saturday morning while laying in bed to set this up from my phone. Didn’t even need a computer to do it. There is literally no excuse.

Why I delayed this for so long I have no idea. I love doing this now. No matter how large or small the amount of money that hits my bank is. I divide up 50p into this system. I genuine love doing this now and I’m so excited for every single pound the hits my bank account to manage in this fashion. 

I cannot emphasise how happy this has made me. I don’t miss a single penny of what goes into my 3 savings accounts because I have my account for playing and giving and I know my bills are looked after. I genuinely can’t believe the feeling of freedom this system creates. 

Seriously guys, get all over this, I wish I’d known and started this 20 years ago! I’d be proper well off by now! Lol

Here are the books that I’ve read and listened to about money management.

  • Rich dad poor dad
  • Rich dad poor dad cash flow quadrant
  • Rich dad poor dad increase your financial IQ
  • Rich dad poor dad guide to investing all by Robert Kiyosaki
  • Secrets of the millionaire mind by T. Harv Eker
  • The millionaire booklet by Grant Cardone
  • Think and grow rich by Napoleon Hill 

If you guys want any help or advice on executing this management system, drop me a line on info@360fitnesscoaching.com

 

Big Love 

Deano

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