Accounts of Gratitude
The topic of Gratitude is one that I understand and care for a lot. As we discussed it in class, I felt a profound gratitude for the things I have already learned in this class and all that I am getting out of it.
However, what struck me the most, was the understanding of the different accounts we should set up to be successful. I was wondering how this related to gratitude and came to the understanding that as I continue to be frugal with all my money and everything that I have been learning, it is really a gratitude for God and all that he gives me. Also, in the future, I can be grateful to myself in the past for saving up money properly to be able to support my family.
While I currently don't understand every single portion of the different accounts yet, I recognize as I was listening to the setup that this is a good setup, and following this will help me out later in life. Personally, I don't want to retire by 35. That's only 6 years away for me and I could not go without working for too long. However, understanding this method is going to help me immensely.
For those of you who actually read this blog who don't know what I'm talking about, it's like this:
You have 5 different bank accounts. They are titled the budget account, the independence account, the savings account, the wishlist account, and the gold account. Each paycheck you get, you put only what you need to live into the budget account and a percentage into the wishlist account and savings account. All the rest goes into the independence account. after a while, your independence account can be spent assets that will help you out and earn you money. That goes into the gold account. You never touch the principle investment put into the gold account, but everything it accrues goes back into the independence account.
This method of living will allow myself and my wife to be able to make sound business risks that will not shake our very life if it fails. Since the budget account will be everything we need to live anyway.
However, what struck me the most, was the understanding of the different accounts we should set up to be successful. I was wondering how this related to gratitude and came to the understanding that as I continue to be frugal with all my money and everything that I have been learning, it is really a gratitude for God and all that he gives me. Also, in the future, I can be grateful to myself in the past for saving up money properly to be able to support my family.
While I currently don't understand every single portion of the different accounts yet, I recognize as I was listening to the setup that this is a good setup, and following this will help me out later in life. Personally, I don't want to retire by 35. That's only 6 years away for me and I could not go without working for too long. However, understanding this method is going to help me immensely.
For those of you who actually read this blog who don't know what I'm talking about, it's like this:
You have 5 different bank accounts. They are titled the budget account, the independence account, the savings account, the wishlist account, and the gold account. Each paycheck you get, you put only what you need to live into the budget account and a percentage into the wishlist account and savings account. All the rest goes into the independence account. after a while, your independence account can be spent assets that will help you out and earn you money. That goes into the gold account. You never touch the principle investment put into the gold account, but everything it accrues goes back into the independence account.
This method of living will allow myself and my wife to be able to make sound business risks that will not shake our very life if it fails. Since the budget account will be everything we need to live anyway.
Comments
Post a Comment