Building financial abundance

We all hear the saying "money doesn't buy happiness," and it is very true, but we should not neglect the fact that we should build financial abundance for ourselves and our families. Not necessarily to acquire all the material wealth that exists and consume why beyond our means. Financial abundance is a tool that, when used correctly and with the right intentions, can bring tremendous positivity to ourselves, to our family, and the world at large. It is a means to achieve our goals and provide stability for our families, and help others when needed.

Creating financial abundance can allow us to support two generations up, our parents and grandparents as well as two generations down, our children, and perhaps their children. It would be nice to see our parents finally retire to take care of their health and spend more time with family, to see our grandparents more often. To see our children not necessarily to grow up with a silver spoon, but to have all the means necessary for their wellbeing. Or when we come across charitable causes or see someone in need to be able to help generously, without having to overthink it, worrying if we can cover our own means in the first place.

My motivation to create financial abundance is more on the altruistic side, wanting to help myself to do more in my life so I can be a better version of myself, create financial stability within my family and have the means to help alleviate the sufferings around the world. Having wealth and financial abundance is one of the great ways of achieving these.

Being out of debt is another motivating factor in creating financial stability and abundance where I have enough to spend for what I need. Dealing with interest is something forbidden in my faith. Though living by credit cards through my post-secondary studies would pile up debt along with interest charges. Thus, if I am struggling just with credit card interest charges and don't find a way to create financial stability, I can only imagine what kind of debt I'll be putting myself later on.

We say that money and being wealthy is not important, and it should not be, but if you don't have enough to cover your means, that is all what you think about - how you are going to pay your bills, buy your essentials, feed your family, pay for your transportation. It's constantly on our thoughts where we say it should not be. We should focus on our faith, family, health, education, all the good positive things in life, and having financial abundance can allow us that.

Creating financial abundance is limited through a job unless of course, you have a very high paying job! Even after that, you still have to trade your time for money, and our time is limited.

One good strategy to consider is to create an asset-based income, where you can create multiple sources of income where you are not limited by time and can grow it through working smarter and harder now and reap the rewards later. There are many ways to create an asset based income, and you just have to determine which one is best for you, and what is accessible to you now. Though be open to trying different ventures and not be afraid to make mistakes and fail, as with any great venture, failures are part of the journey to get there.

This is what I have been doing along with my other pursuits, I am nowhere near where I want to be in having an asset of my own, but slowly sowing my seeds everyday that eventually it will sprout, grow and give off its fruits.