Tips, Tools, and Takeaways to Help You Plan, Build, and Secure Your Wealth.

Always Create More Than You Consume

While listening to a podcast by Robin Sharma, one passage profoundly struck me:

We live in a civilization of consumers. Buy this, eat this, do this, consume this. But the top 5%, those who play in the rare air of world class are not consumers, they’re creators.

Let’s be clear. Consumption is not evil! We need to provide for the necessities of living. It’s okay to enjoy some luxuries and there are opportunities and urgent needs that sometimes require large financial outlays. We blow up though when our consumption exceeds our creation.

Why we should create:

  1. Creating makes you smarter.  The greatest teacher is experience. The more you do, the more you learn. I was never a writer but once we committed to writing WealthSmarts each week, the feedback from readers got better and better and that’s a clue that these articles are improving. (subtle reminder that I love hearing from our readers!)
  2. Creating makes you wealthier. Wealth, by our definition, is an abundance of what you value most.  When you purposefully focus on creating more than consuming in all parts of your life, you will build more and more wealth.
  3. Creating prevents needless consumption. When you are busy enjoying the creative process, there is often no time for pointless consumption and “shopping therapy.”

What is Creation?

Anything you produce through time and effort counts as creation:

  • Being the best you can be in your occupation and always adding more value than you are paid for. You are creating a valuable resource and that will be rewarded by your current employer or by someone else who values what you have created.
  • Building a business by creating the goods or services that other people want. Business owners immediately understand the creative process. If they don’t create, they don’t eat!
  • Developing your art. If you don’t feel you have any talent, start anyway. Most great artists are offended by the word “talent.” They simply got good by working hard at the habit of creating.
  • Working on your health through exercise and proper nutrition – you are creating a healthier you as well as adding more years to your life.
  • Working on your relationships – by spending time with those you love and those whom you want to see more of in your life.
  • Helping others. Zig Ziglar said it best: “You can have everything in life you want, if you will just help enough other people get what they want.” If you don’t know where to start, reach out to your community volunteer centre and sign up for something!
  • Investing your surpluses – when your money is invested in the marketplace in ventures that also create, you are participating in the creative process and providing a valuable resource to fund your future pursuits and generosity.

Most people spend all their money living other people’s stories. Why not create and live in your own story?

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WealthSmarts
WealthSmarts

Gain the financial capabilities & confidence to achieve the goals that matter to you. In each episode we dig into the truth behind finances & money, giving you the empowerment you need to make the right decisions when it matters most.

This is WealthSmarts, where you will gain the financial capabilities & confidence to achieve the goals that matter to you. Now here are your hosts, Richard and Matt.

Learn more at https://wealthsmart.ca/

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