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Do Not Have a Perfect 2019: How Trying to Be Perfect Can Cost You + How to Cope with Money Imperfection

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For a very long time many people have been striving for perfection not realizing that it came with a very big cost! What is the cost of perfectionism you may ask? Once perceived as a trait worth bragging about now mental health professionals say “extreme perfectionism” often sparks depression and anxiety, The Atlantic reports. And a recent study published by the journal Psychological Bulletin suggests such tendencies are on the rise, particularly among young adults. Parents and teachers have effectively pushed young people to strive for success, but they haven’t devoted enough attention to giving them the tools they will need to cope with failure.

This is why we must banish the notion of perfection. Especially as we go into the new year we have to simply do our best. With that said many people try to manage their money perfectly and add depression and anxiety to the mix as they are aiming to do so. So what’s the solution? The following are 5 ways to cope with money imperfection:

1. Make Peace With Your Money

Deepak Chopra says in his book The Seven Spiritual Laws of Success, “Every time you are tempted to react in the same old way, ask yourself if you want to be a prisoner of the past or a pioneer of the future.” This is important to apply to your money because your upbringing can affect how you deal with your finances. Do you have a scarcity mentality that is making you a money hoarder or has your money history made you a shopaholic? Whatever your money personality is, you must make peace with it and let go of any habits that are not contributing to your journey towards financial freedom. Take a moment to write down the money messages that you’ve heard coming up, reflect on what you’ve done right so far with your money, and identify the places where you have opportunities to improve. No matter the mistakes you have made, make peace with them. Forgive yourself for what was, accept what is, and begin to move in the right direction today. Letting go of the past is the best first step to creating a brighter financial future, and brighter future in general.

2. Visualize Your Abundance

The law of attraction teaches us that if we want to reach our goals, then visualization is where we should begin. By visualizing your dreams, you teach your brain to tap into the inner resources that you need to make them a reality. It allows you to see your dreams in your mind’s eye in order to accept and believe that you deserve them, and it allows you to stay positive, which will help you to stay on track to be successful in the long run. Visualizing your abundance can help you with your finances in the same way. When you can see yourself with enough money to comfortably reach all of your obligations, then it allows your brain to tap into your inner resources to make that real. When you can see your money goals achieved in your mind’s eye, you can begin to feel the way you would when they actually come to fruition, which will help you attract those outcomes faster. Also, visualizing your abundance will keep you in a positive space with your money, which will eventually attract more money to you.

3. Set Your Money Intentions

In the spiritual world, your intention is everything. If you want to manifest goodness in your life, then you first have to be intentional. As Bryant McGill once said, “Every journey begins with the first step of articulating the intention, and then becoming the intention.” What you intend for your money will have an impact on how you choose to use your money. Do you want to save more? Do you want to start a new business? Do you want to get out of debt? All of these are intentions that need to be set before you can begin making a money goal a reality. Once your intentions are set, the subsequent actions that you must take become easier to figure out.

4. Show Gratitude For Your Money

The Hawaiian Huna tradition has seven principles of life, and the third principle, “Makia,” says, “Energy flows where attention goes.” Whether good or bad, whatever you focus on the most is what you will continue to see in your life. By showing gratitude, you are telling whatever you are praising that, yes, you want more of it. Bless your money! Show it gratitude! Every penny, nickel, and dime of it. Don’t take what you have for granted and appreciate that you have it, even if you would prefer more. As Oprah Winfrey once said, “The more you praise and celebrate your life, the more there is in life to celebrate.” Apply that to your money and you will begin to notice an increasingly positive flow. Even if we look at this from a practical perspective, showing gratitude for your money will also guide where you spend your money. Those who are grateful for things will be more likely to take care of them and not be wasteful, which in turn will help you save more money.

5. Treat Other People’s Money as You Want Yours to Be Treated

The Law of Karma says, “For every action there is an equal but opposite reaction.” Simply put, that means what goes around comes around. If you put out negative energy in thought, word, or action, that negative energy will come back to you. As it relates to your money, you must realize that when you are borrowing money, whether it’s from a person or a bank, you are being trusted with these funds and there is an expectation that you will honor your word. Just like you would want your money returned to you if you lent it out, this is what others are expecting as well. As you do right with others, this same energy will come back to you.

There are other spiritual laws that can apply to your money such as giving to receive, which can be activated by sharing your wealth or the Law of Allowance, which says that you should be open to allowing others to treat you.

Ash Exantus aka Ash Cash is one of the nation’s top personal finance experts. Dubbed as the Financial Motivator, he uses a culturally responsive approach in teaching financial literacy. He is the Head of Financial Education at BankMobile and Editor-in-Chief at Paradigm Money. The views and opinions expressed are those of Ash Cash and not the views of BankMobile and/or its affiliates.

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Amazon Prime Day Kicks off W/ Competition + How to Kick off the Habit of Paying Full Price

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Ready, set, go! Amazon’s Prime Day starts today and continues through Tuesday, bringing a whole new meaning to retail wars, as Walmart becomes the latest rival to try to get in on the mid-summer online-shopping bonanza. This year marks Amazon’s fifth year of Prime Day, and according to Salesforce’s Rob Garf, the shopping event has prompted “rising shifts” for the entire month of July. Target and eBay have also announced sales of their own. There is definitely competition in these mean retail streets but how do you compete with yourself to save money?

I have a friend who spent time as an intern and then as an assistant buyer at a Fortune 500 specialty brand, and from her experience, she vowed never to pay full price for a pair of jeans again (unless the price is already right of course). Working in the buying department opened her eyes to reality behind retail. For instance, jewelry can be marked up to at least five times its value. As a buyer, you’re the one who actually chooses what looks go into each door. You also have the privilege of watching sales trends and dealing with a lot of retail math. You consider the cost of goods sold, retail price, and yes, the markup.

Markup is when a company produces or purchases a good at one price and then sells the good for a higher price.

Here’s how it works:

Selling price = [(Cost) ÷ (100 – percentage markup)] × 100.

So, a company buys a pair of jeans at wholesale for $60 and needs to sell it at a 60 percent markup. The calculation would be [($60) ÷ (100 – 60)] x 100. This breaks down to ($60 ÷ 40) x 100, resulting in a selling price of $150.

By having a markup on goods, a company is able to earn profits even when goods go on sale. But what does that mean for the consumer? Well, your pricey luxury shoes, shirt, and hand bag aren’t all that expensive. You just paid an absurd amount for it.

This leads me to the premise of this article – start at the sales rack. Being trendy with your finances should come before fashion. See what deals you can get before paying full price. There is nothing more fashionable then extra cash in your money bag.

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Another One! U.S. Women’s Soccer Team Wins Again + How to Win in Your Personal Finances

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The U.S. women’s soccer team are the World Cup champions after beating the Netherlands 2-0. It’s the fourth title overall for the Americans, and the first time they have won back-to-back trophies. The team has also launched itself into the gender pay gap debate with its lawsuit against the U.S. Soccer Federation: the women can expect a guaranteed payday of about $250,000 with Sunday’s title, says the New York Times, while the winning team of the men’s World Cup would have received roughly $1.1 million each, per CNBC.

What about in your personal finances? How do you win? The short-term sacrifice of becoming financially focused early on has long term benefits that are totally worth it also. Here are just a few:

Financial Freedom. The definition of financial freedom varies depending on the person, but it boils down to being able to cover life’s necessities, including food, clothing, and housing expenses. Buckling down in your twenties and thirties to focus on laying a financial foundation leads to financial freedom. And the sooner you get there, the better off you’ll be.

Stress Free Living. Most stress is self-imposed and generally centered around money. Some relationships crumble due to tension perceived by finances. The highest liability we encounter is housing. The second and third largest consist of health care and food. While food and medicine are ongoing obligations, owning a home can eliminate a chunk of financial responsibility, freeing up more money to save and invest. Start early when it comes to homeownership. You may miss a few parties, but the peace that comes with owning the home you rest in will be made up for it.

Generational Wealth. Chances are you’re considering starting a family. What better way to honor those you love with an abundant financial future? Each generation should be able to start a notch above the last. Investing five years of your young adulthood can make a 10-year difference in the lives of your unborn children. This sacrifice isn’t only for you but for those to come after you.

More Time. We are not so much looking for more stuff but for more time to enjoy the stuff we already have and the people we can share that stuff with. The reason most look to retirement is to enjoy what they have worked so hard for. The moment you decide to be financially responsible is the moment you begin to enjoy the journey, both the highs and lows of creating wealth. By all means, don’t save the party until the end. Celebrate while you build but remember to never lose focus of the building. 

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Nike AIMS to Get on the Right Side of History + How to Be on the Right Side of Your Legacy

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Nike has pulled a U.S.A-themed sneaker from its range after receiving objections from Colin Kaepernick, The Wall Street Journal reports, citing anonymous sources. The former NFL player reportedly told the company that the early American flag featured on the Air Max 1 USA, created in celebration of July 4, was offensive due to its connection to slavery. Nike also recently stopped selling some products in China after a designer’s support for Hong Kong protests sparked backlash, and reportedly cancelled a sneaker in May following objections.

The flag in particular is the Betsy Ross flag which Wikipedia states: The Betsy Ross flag is an early design of the flag of the United States, attributed to Betsy Ross, using the common motifs of the alternating red-and-white striped field with five-pointed stars in a blue canton. Grace Rogers Cooper noted that the first documented usage of this flag was in 1792.[1] The flag features 13 stars to represent the original 13 colonies with the stars arranged in a circle. The 13 Colonies has a deep connection to Slavery which is where the objection is coming from.

It is good to see that someone is using their influence in the right way, but also this tells you how influence can affect the bottom line. This move is helping Nike create or clean up its legacy.

We are now in graduation season, and for many students, graduating college is an enormous feat that starts the beginning of their legacy. But after you are now free to do as you wish, how do you continue to add to that legacy? Yes, you are going to start a billion dollar business or work as an exec for a fortune 500 company but beyond your title and accolades, what else can you bring to the table? The truth of the matter is that what you do with your money is more important than how much you have. It is said that a good man (or woman) leaves an inheritance for his (or her) children’s children. And even if we don’t have children, leaving an inheritance of wealth on earth for the benefit of others is the truest form of what we call being rich. If one is truly wealthy, he or she freely gives. Making your riches count is found in your legacy. So, while we may not fully understand what our legacy will be when all is said and done, we can aim to leave the following:

Knowledge & Wisdom.

Maya Angelou told Oprah Winfrey that no one truly knows their legacy because they can influence different people differently. No matter your level of education, you have the ability to give a word of wisdom because the wise are those who have experienced life and learn lessons along the way. Never underestimate your ability to encourage another person.

Kindness.

Ellen DeGeneres is synonymous with kindness. At the end of each show, she can be heard saying Be Kind to One Another. The impact that she has had on students, families, young stars, and animals is surely a legacy. Something as simple as kindness, an ability we all have access to because it resides in us, goes a very long way. It literally changes lives.

Money & Assets.

Robert Kiyosaki said money isn’t everything, but it does affect almost everything in our lives that is important. Leaving beyond money and financial assets to your children and their children can put your loved ones ahead 10, 20, and even 50 years. While you are building wealth, keep future generations in mind. Most of our early adulthood is spent paying school loans, discovering our purpose, and laying a financial foundation. Imagine what life would be like if your parents set up twice as much as they did for you financially. You’d most likely be at least five years ahead of where you are.

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