The
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Ability to Adjust
Section I / Section
II / Section
III
You may think that when you are (1) earning money (working for money); (2) have possessions, , housing, and vehicles; 3) have insurance to protect against risks; and 4) have investments (money working for you), that you are economically secure. But is that the ultimate security, the financial freedom and independence? What if you lose your job, lose investments, experience a divorce, have an accident or illness, or get into financial trouble? The ultimate in economic security is your ability to adjust.
You must have the willingness and courage to change the source of your security, lifestyle, methods, and purpose. Change priorities when you need to, and don't fear change.
Asking for help and advice is a sign of strength, not weakness; a sign of independence, not dependence. You cannot adjust when changes in life are forced upon you causing you to become bewildered and devastated.
A myth is that you feel you cannot change your circumstances until you graduate and get a good job. This is a false assumption. You have the ability to be an efficient change agent by consistent planning, implementing, and evaluating your community and non-monetary resources that are available. Economic freedom improves with your improved sense of self-worth and the use of community resources. The natural environment is only one community resource. Your source of true security is beyond money alone.
You can be empowered to be the master of your finances with practice. Evaluate what you are doing and buying to be aligned with your own goals to reflect your sequential plan. Plan to meet goals and purchases sequentially. (Not equally trying to have everything at same time.) A student once said, "I buy things I don't want with money I don't have, to impress people I don't like." You may have to clear your own path or take the one less traveled.
Even your source of security may have to change. You may have to change what is important to you. To others it means changing goals from accumulating wealth in monetary terms to serving the community, giving away wealth or having new goals such as becoming a better person – fulfilling new roles when all else is lost.
Sunk Costs. TThis concept in economics is that your investment in education, business, etc. has to be perceived as sunk or lost rather than continuing to try to get a return from them. Continuing the current investment, the effort, or plan would cost more and be less satisfying than a new plan, career, investment, or business. It is wise to adjust plans in light of new information and goals.
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Family
- Government &
Community - Education
& Skills - Employment
- Management
- Credit
- Housing,
Vehicles & Equipment - Insurance
- Savings
- Investment
- Financial
Planning
Ability
to Adjust
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