The Prosperity Tip 3 - Karmic Consequences

"Karma" really means "action" - it seems it is really about the ways in which what we do affects what we have and how we experience the world. It is a concept which causes fear actually for a lot of people - and motivates many others to do amazing deeds in this lifetime. In a prosperity sense there are lots of everyday and spiritual examples of how karma shows up for us.

Here is one:

Say you grab a cappuccino and a wholemeal muffin every day from the local coffee shop. Chances are you will pay about £3.48 a day for this (more in London). Now that £3.48 feels innocuous until you start doing sums with it …

Most people who are employed end up working about 42 weeks a year (after annual leave/sickness and study leave - if you are really healthy or never study, you will need to increase the figures in these sums :o).

So in a year you would spend £3.48 x 5 (days a week) x 42 (weeks worked) = £730.80 a year.

If you were to take that amount of money and put it in one of the 7% savings accounts that are currently available - and DID NOT ADD TO IT AT ALL but just let the compound interest accrue, after ten years it would be worth £1437.59. Imagine now that you saved that money in your first year out of university and left it in the bank at 7% until you retired at 55 years old. It would then be worth £6814.96!

If you are looking for motivation to reign in your spending then try this:

Exercise:

For a week or month record everything you spend on a certain item. Total up all that expenditure and to find out how much it would be worth in ten years time use the following equation:

I x (1 + x)n = Total amount

“I” = initial investment
“x” = percentage rate awarded
“n” = the number of years for which you plan to save.

Hence, saving the price of a Chinese takeaway (say £25) a month for a year would give an investment of £300. Save this without adding to it for ten years at 7% and you would get an end sum of

£300 x (1 + 7%)10

£300 x (1.07)10 = £590.15

If you had a takeaway every week for a year in the year that you left university you would have spent £1300. If you invested that money for the 33 remaining years between now and retiring at 55 you would have £12,122.94 to add to your retirement fund :o)

All of these numbers are as many of you will know, hardly how I do most of my coaching, but they are absolutely vital to creating motivation towards mindful spending!

I am NOT asking you to live like a monk (anyone who knows me would consider that hypocrisy :o) – BUT I am inviting you to pause and make a decision based on informed consent. Every spending action has a consequence – no the muffin won’t change your financial future ALONE! But most people are so unconscious about their spending that the £3.48 a day adds up and up and up.

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