We have our own circumstances which make demands on our finances, time and energy. Often, we hear people saying that they do not have enough money, time or energy to do all the things they have to do or want to do. How do we work towards having the money, time and energy to have a modern day good life?
Finances:
How much something costs is quantifiable, of course. Although people might find themselves cash strapped at times or, for some, most of the time, I believe that any problem that can be solved with money is not insurmountable, within reason.
We can always think of ways in which to make more money. Get extra income from a second job, for example. We could also seek help in the form of a short term loan if it should be warranted. Of course, to ensure that the situation is rectified permanently, if at all possible, find the root of the problem and resolve it sensibly.
Working towards a secure financial future as early as practicable in life would definitely help. Anyone who does this stands a good chance of having financial woes being a relatively infrequent occurence over time.
Time:
Unlike money, we cannot make more time. Time is therefore more precious than money. So, since we cannot make more time, what do we do if we want more time? Buy time. Huh? Buy time?
Do I mean buying some life extending elixir? I might like to entertain myself with Chinese mythology from time to time but I am not delusional. Well, I hope not anyway.
When we say "buy" in our modern day context, it would involve money, would it not? "Buying" time is possible if we have enough passive income to free up time. It would free us from our reliance on earned income. Then, theoretically, we could quit our jobs and we could have more free time if that is what we desire.
When we have more free time, we would be able to meet head on any situation which demands more time from us. Time becomes less of an issue.
Energy (emotional):
When problems hit, it would be rare not to be emotionally affected. This is probably the most demanding factor and would drain even the strongest of people. This is something not many talk about in financial planning.
Financial planning is not just about dollar and cents or freeing up time. As problems are usually emotionally stressful, financial planning helps to make stress arising from such problems more manageable.
How can we reduce the emotional stress in such instances? If we have our finances well in place and if we have freed up more time, we would probably be able to deal with the emotional upheavals more easily and such situations might then feel less stressful.
I know that some people including our government say that family support is important to deal with stressful situations. This is true but not everyone has supportive families. Even though I feel that I am relatively lucky in this context, I would like to be self-reliant and not be a burden to my family, if possible.
Energy (physical):
We would also need to be physically healthy as a weak body could succumb to illnesses more easily. Regular exercise, taking in the required nutrition and having sufficient sleep are all part and parcel of having a healthy body.
As long as we have control over our lives, we should make sure we live it well. In our modern day context, it is possible only if we are financially prepared, have time for things that matter and are emotionally and physically healthy.
For the majority of us, we probably have to work towards having a good life. Depending on each person's circumstances and decisions in life, it could be harder for some and easier for others. However, it is definitely not an impossibility. A good life waits for anyone who is willing to work towards it. Believe it.
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A common piece of advice on saving.
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At what age to start investing in the stock market?
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A letter from a reader in his early 20s.
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Tea with AK71: How rich is rich?
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Passive income: A higher purpose.
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