Everyone knows well money comes from our Jobs and Jobs come to us our Education (most of the times). And our decision of what we get in Education, from where do that come?
Here is the root cause. Ask any MBA aspirants why he is preparing for MBA? What kind of answer do you get? ‘My friend is also doing it’, ‘What else can I do?’ and ‘Good money in MBA’. Same problem with Engineering and other Jobs. Then, they do ‘study hard, get good grades, and find a safe job or career’. They learn nothing about money because Money is not taught in institutes and universities. They focus on academics and professional skills, but not on financial skills. This explains how smart bankers, doctors and accountants who earned excellent grades in school may still struggle financially all of their lives.
People give 100% time to their career and work, but not even 1% for the motive behind their hard work. They work hard all their lives. The process repeats into another generation into another hard-working generation. This is the ‘Rat Race’
The only way to get out of ‘Rat Race’ is to focus on managing money instead of focus on earning money as old proverb proves, “It is so easy to earn the money and too difficult to manage it”.

Money Management

When I meet people with regard to their financial life, I notice something: The biggest reason why their financial life is in a deep mess is not because of their lack of knowledge or their lack of earnings. In fact, most of them earn well and are pretty smart. They are all successful at what they do. The biggest reason is that they are not managing their money well which could have created magic- “Effective system to manage money”. I came across T. Harv Eker’s Book “The Secrets of the Millionaire Mind” it says “Rich people manage their money well. Poor people mismanage their money well”.
Perhaps, a lot of people have already been managing their money for years but not in a systematic way. If you want to get rich, focus on making, keeping, investing & managing your money you to get understand ‘Money management System’. This Money management System is very simple to understand & implement. If you want Financial Freedom you got to follow a system for achieving it.
As a financial planner people I meet believe managing money will take away their freedom. They hate the idea of Budgeting and Planning. They believe managing money will not allow them to be free and enjoy life to the fullest. I have been implementing this “Money Management System” for over a year now & it has given me tremendous freedom in the area of money. Most of the people I meet say, “I will start managing my money when I have enough money”.
As a planner I tell them “if you aren’t managing your money now then you may not have any money to manage in the future”.
The Single biggest difference between financial success and failure is how well you manage or mismanage your money. People mismanage money in different ways (By not having a financial planner in life, by not having a financial Plan in place, by not organizing their finances, by buying ULIPS, by not taking financial Literacy etc etc)
You need to realize that your un-serving money beliefs block your financial success. It’s time to learn new beliefs about managing money which could create substantial change in your financial life simultaneously unlearn those hidden beliefs  what you heard a number of times from your elders and got downloaded from your parents, some from family, some from friends and some from the society you live in.  You learnt that study hard so you can find a company to work for. You learnt when it comes to money, play it safe, don’t take risk. You learnt that the reason I am not rich is because I have kids and huge responsibilities. You learnt how to write an impressive resume so you could find a good job. It is all about your past leanings and beliefs.
It’s time to de-program what you have learnt in past. It’s time to re-programme your beliefs and learn money management system as study hard so you can find a company to buy, Learn to manage risk, I must be rich is because I have kids and huge responsibilities and learn how to write strong business and financial plans so I could create jobs.
As per a famous Chinese proverb “Find a job which you truly Enjoy and you will never have to work after that”.
One should design their Financial Plan with a context to achieve financial Freedom. Having a Money Management System is equally important as having a financial. Always remember. The real secret of successful wealth management is that your financial future is truly in your hands.
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Suresh Kumar Narula

SEBI Investment Advisor, Founder & Principal Financial Planner at Prudent Financial Planners
Suresh K Narula is founder and Principal Financial Planner at Prudent Financial Planners. He has earned the professional CERITIFIED FINANCIAL PLANNER and got registered with SEBI as Investment Advisor. He writes on personal and financial planning articles and got published in Dainik Bhaskar, Business Bhaskar and The Financial Planner's Guild, India. He is also a member of Financial Planner's Guild India ( An association of practicing SEBI registered Investment advisers) to create awareness about Financial Planning in general public, promote professional excellence and ensure high quality practice standards. Suresh received his an M.com from Himachal Pardesh University and an MFC from Punjab University, Chandigarh. He can be reached at info@prudentfp.in
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