💰 Half of Residents Spend More Than They Earn: Survey 🚨

Hey friends, good evening from Dubai and good morning, good afternoon. Whichever part of the world you are in, I hope your week started with amazing productivity and you are doing better. We are almost completing one month of the year. Maybe you have decided at the beginning of the year some new year resolutions bringing things under your control. Maybe mental well being, emotional well being, physical well being, financial well being. Whichever area you have decided and you are doing well on this. Now my today's live, I have selected a topic based on this news. So this newspaper and this was published in yesterday's newspaper in college Times. Now if you are in UAE you know it says half of residents spend more than they earn. Now this is as per survey. This is not my you can say opinion, it is as per survey and newspaper. This is the front page. You can see this, it's on the front page. And this news now there will be some study on this. This will be reality and you know better what you who how you are doing. Are you out of those 50% or half of those residents who are spending more than they earn. Now if that is the situation, it's kind of trap and that trap is getting deeper and deeper. Now do you know that this is not only affecting your financial well being, it affects your mental well being because it brings stress and it is a never ending trap. It's kind of rat race the faster you run but still it is difficult to come out of that trap. So I thought why not to share awareness about this. So so if I share my screen, it's here. So this is the news. It says half of residents spend more than they earn. Now this is survey reveals. It is survey done. And it says then expert has also shared tip to help budget better. So it is. Do you agree that budgeting your finance is very important but do you agree that it has to do a lot with your money spending habits? Does it make difference? Now if a simple example if I give you if you go with family for say grocery or buying your household things, you make a list and list is of 10 items. But does it happen that you come out of 15 or 20 items even though you don't need those items, you buy it. Why it is happening? Why those you can say mental impulses forces us to buy certain things which we don't even need. And this is the reality. And this has to do something called instant gratification, something called financial lack of financial education. And I want to share or I want to throw more light on this why it is happening like it is happening. Maybe it in Your life, it is happening. But why it is happening? And that's what we are going to dissect in this session. So same day another news is there many residents can't afford two weeks of expenses without an income. Now do you agree that it's something very serious? So there is something which I learned from my mentor, Robert Kiyosaki. I'm trained by him. I learned about money from his team and him. And that made me, you can say prepare foundation of my financial freedom. Now if you know this guy, rich dad, poor dad is known as rich dad poor debt. And he says that your wealth is not measured in terms of how much money you have in bank account or how much net worth you have. It's measured in terms of number of days, weeks, months, years, decades or maybe generations. You can survive or you can continue living your desired lifestyle without working with working. Okay, you can maintain it. But imagine that you stop working, which I did. I stopped working since five and a half years. But this education, this investing in me is helping me now also. Now coaching is my main business, it's my main profession. But I build my financial freedom with you can say financial education. Now this is different financial education, but it has to do a lot with mindset. Now are you struggling in this trap of not having like you can't afford even two weeks of expenses. If your income stops there is. This is a serious alarm. Are you investing in yourself? I made a decision 14 years back to invest in me. And then those fruits are keep on coming. So. So I am not. I do not want to impress you, but I want to impress upon you that something needs to be done. And then you have to keep asking yourself how many months or weeks or years you can survive. So this is again I learned from Robert Kiyosaki and this says, do you agree that it is how your cash flows in your financial statements? Now I am not sure whether you have ever filled your personal financial statement or no. But it is very important to fill your personal finance statement. And then he is having three types of personal financial statement. So he says the cash flow, how your cash is flowing. So if you see this income, expense, asset liability. Now I have started feeling my personal financial statement since 2012 when I was I started playing the game called cash flow board game. If you have played cash flow board game, you may be aware about your personal financing statement. But otherwise if you are say even business owner. I meet many business owner. They feel financial statement for their business profit and loss. But they are totally messed up in their Personal finance. So here I am talking about is your personal finance. Now if you are say working professional, you are earning salary, income comes and everything goes out through expenses. Now here you are not having any saving, you are not having if you see any asset and you are not having liability because your mindset says that debt is bad. There is nothing right, nothing wrong. You need to be aware that which cash flow pattern you are following. So this, this is called poor person's income statement or cash flow pattern. Whatever this person is earning, it is going out now through expenses. Taxes, food, rent, clothes, transportation, other expenses, everything. Whatever is earning, it's going out. So this is one type of you can say cash flow pattern of poor person. Now even though you are earning high, it doesn't matter even though then you can be a poor person based on your spending habits. So these are the spending habits of poor person. Whatever his or she is earnings, everything is being spent. Now comes to say average person. So what this person does now average person, the first income comes maybe from your business or Prof. Job. First it has to go through liabilities. So this person is having say mortgage for his own home, is staying, car loan, credit card loan, school loans, personal loans which is very common in uae. And that's what people are getting into trap because they feel that it is easy money. They are using other people's money without realizing that they are keep on building liabilities and not building any assets. So if you see this person is earning, working hard, maybe on business or maybe on job, first the money hits in liabilities. And after paying liabilities there are expenses. So those expenses again same taxes, mortgage payment, car payment, credit card payment, school fee, grocery, all those things. And this person maybe is having good lifestyle. He or she is having good lifestyle. But if this income stops, the person cannot survive even two weeks. That is what this newspaper says that people cannot cover their expenses if their job income or working income strength stops. Now these are the two people, poor person and average person. And if you see for both of them the asset column is empty. There is nothing in assets and there are maybe 75% people in the world. They are here and the moment something happens like Covid happens, everything stopped. And those people lost their mental balance. They don't know what to do, where to go. So this is what is very common scenario when there is lack of financial education. So what comes is you can say alignment. So I help people on alignment because being aligned in life is very important. So what happens to this person when there is a financial stress? So if you See this, there are four areas of well being. Mental, emotional, physical, financial. Now if a person is not doing financially well, do you agree that the person will be stressed? Job security, worry, competition, lack of money, all those things will be bringing mental stress. There is no mental peace. And when there is no mental well being, it affects your emotional well being. You will start feeling guilty that is there something wrong with me, other people are doing this, I am not able to do this. So and then relation with himself or herself and relationship with people around him or her can be team, can be family, can be clients, can be vendors, anybody. They are not in good emotional relationship. And that affects your physical well being. Because when you are so occupied, you will not feel good to take care of yourself. You are not having, say good healthy lifestyle, exercise, walk, meditation or even good food because you are not having time. You are not having money. And that affects your physical well being. And then it again in cycle, it affects your financial well being because there is a lack of energy. Your energy is being drained on unwanted things. You start reacting instead of responding, getting easily angry, getting frustrated, all those things. Do you agree that when there is no financial well being, all other three areas are being compromised? So I just want to communicate that financial well being is important in your life. So now what you can do. See your habit about money. One minute, I think I lost my camera. Sorry. Yeah. So what happens is when people, they are not having time for themselves, they are worried about money. And that's where they lose the alignment. And when there is no alignment, it's lack of alignment or misalignment. Let me come back to my screen. Again, my camera is not there. What happens, technology sometimes affects you. Sorry. Yeah. Okay, I'm back. So I might keep on experimenting new things. So I am also learning. So now you can see are you in alignment? Which area of your life you feel that you need more alignment? Answer is with you. But definitely when you work on yourself, you can bring alignment in your life. And particularly when you are doing well financially, when you build assets and when you have habits of rich person. So what rich people they do differently. So here is the cash flow pattern of rich person. So we have, I have explained about poor person's cash flow pattern. Whatever they earn, they spend average person, what they do, they earn, they have lot of liabilities. And first money goes to liabilities and then it goes to expenses. And nothing is an asset. And what rich person they do, they build assets. Now I didn't learn these things till the age of 46. Now many people I meet, they are young, 40, even under 40. And they lost hope because they say now they are too old, they can't do anything. I want to tell you that I started learning this at the age of 46. But then something was missing, which was mindset. So I went to another mentor, Bob Proctor. I learn about mindset and what you see here is all about mindset. You need to have delayed gratification as against instant gratification. The money comes and immediately your mind says that reward yourself, buy this new iPhone, buy this, buy a new car, go for vacation. And then you are not able to build assets. It is your assets which will take care of for you of lifelong. So what rich people, they do, they have business, they have real estate, they have paper assets, they have commodities, and they have some passive income sources. So if something happens outside, they are not bothered. Everything, all their expenses or their income comes from their assets. Now when I learned this, I decided to be here. And now all my expenses are covered by my assets. Even if I do nothing, I don't have to worry. And that's what make me more productive. Now if you want to be that person, you can become that. So what you need to do, you need to have that pain of growth. So this is like see many times. So I do regular event and this event I did last Sunday. Many people feel that they want to do it, but then they say no, no, Sunday is my personal day. I cannot wake up in the morning all these. So see your mind will give hundreds of reason. You need only one reason why to do it. And this is the reason you need to take pain of growth. Now what if I say that pain of growth is temporary. Now if you see here, this is your mental well being, this is your financial well being, this is your physical well being. And all this well being, you need to take pain. Nothing comes without. If there is no pain, there is no gain. But that pain of growth is temporary. Now if you are not doing that, what happens then you are opting for comfort of suffering. If you see this. Sorry, I missed that. I think there are two pictures. Pain of growth. It is either see you have pain of growth or you have comfort of suffering. So what happens? See, this is the comfort of suffering. If you are opting this lack of money, finding yourself in rat race, feeling isolated, not emotionally. You can say doing well, not feeling good about yourself. Physically, you can see these people. So comfort of suffering is going to remain for lifelong. Now what do you choose? I made a choice to have pain of growth. And that's what helped me to design my life. Now, if I can do it, you can do it. That's all. My intention is to inspire, influence, impact people so they can align and design their life. Now, if you feel that, yes, this makes sense, book a discovery. Call with me. Message me that, yes, you want to learn more about this? Definitely. When you raise your awareness, you can change your life. You can change any results. And you can see this. There is a roadmap, thinking into results. So it is. Everything starts with your thinking. If you think and believe, you can achieve. That's all. My name is Deepak Badra. I'm an alignment coach and author and I help people to align and design their life. Take good care of yourself. Bye.