Stephen Lau, using a different pen name, is the author of this book.
A description of the book:
We are living in a world wanting wisdom. The majority of people experience the lack and not the abundance, while only a small number of people feel both the affluence and the wealth. Surviving and navigating in this world of money disparity require profound wisdom—the perspectives of human wisdom, Biblical wisdom, and the TAO wisdom from ancient China. This book is about asking many questions regarding money wisdom, given that money always plays a pivotal role in this world of both lack and abundance.
Charles Proteus Steinmetz, a German-born American mathematician and electrical engineer, once said: “There are no foolish questions and no one becomes a fool until he has stopped asking questions.” So, continue asking many self-intuitive questions to enhance your money wisdom. The spirit of wisdom demands you to ask as many questions as possible on how you view the world today based on your own past and present life experiences. Your money wisdom is your need to think about money more. Don’t bury your head on the sand! Be wise on all your money matters!
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A sample from the book:
What is money misery?
Money misery is a reality for many, who always feel dissatisfied, frustrated, insecure, and insolvent. This mental condition suffered by many is often a result of their constant exposure to media news of the rich and the famous, as well as their own perceptions of “possessions equal satisfaction.” It is your own mental interpretation of what you see versus who you really are.
You have money misery if you have a job with a modest income but still living from paycheck to paycheck. If you are struggling with money misery, you need your money wisdom to change your belief system, to stop comparing yourself with others around you, as well as to identify all the whys of your emotional feelings about and around your money misery.
Why so many are broke?
According to The Wall Street Journal, many consumers (nearly 70 percent) are living from paycheck to paycheck. More than 50 percent consumers worry a lot about money, such as retirement. Once they lose their jobs or encounter any financial crisis, they become broke.
Even wealthy celebrities, such as Mike Tyson and Michael
Jackson, go broke.
Mike Tyson, a boxing champion with several heavyweight titles, earning over $300 million dollars during his successful boxing career, ended up in bankruptcy in 2003.
Michael Jackson, recording artist, dancer, singer and songwriter, earning more than $500 million dollars, was heavily in debt when he died in 2009.
Of course, you might say: “If I had those millions of dollars, I wouldn’t become broke?” But if you cannot change your current spending habits, it would be a lot more difficult to change them when you have become a wealthy celebrity, such as Mike Tyson or Michael Jackson.
So, going broke is no respecter of persons, whether you are rich or poor.
The bottom line: Everyone needs to have the money wisdom to know how to earn, invest, and spend money to avoid going broke.
Can money cause irrational behavior?
Money can often create irrational behavior in rational people, resulting in harmful and even painful consequences in their lives.
Some examples of irrational behavior in rational people with respect to money are as follows:
Money matters so much to some people that they feel so contented and will not even ask for more, even though they may rightly deserve it.
Money matters so much to some people that they simply refuse ever to go into debt, blindly believing in the virtue of being debt-free no matter what.
Money matters so much to some people that they would allow their greed to get better of their sound financial judgment, resulting in bad investments.
Money matters so much to some people that they do not let on about the family finances, such as couples concealing bank accounts or credit card payments from each other.
Does any of the above apply to you? If yes, then money may also make you irrational?
What are the obstacles to understanding the money wisdom?
You may not attain your money wisdom if you are confronted with the following obstacles:
You spend more than you earn. Do you have several unpaid credit cards?
You buy things you do not need with the money you do not have. Take a look at your closet, your basement or your garage. Are they all full of your stuff?
You think you need more money. You save and save. Money has become nothing but only security to you. Do you always worry a lot about your money insecurity?
You want quick returns and big payoffs for your money. Do you often go to the casino or buy the lottery?
You go with the crowd when it comes to investment and spending. Do you often go shopping with a group of your dear friends?
You lie about money, because you measure yourself on the basis of money. Are you always conscious of how people perceive what you wear or where you live?
You are uncomfortable about money, or you hate money because it is the root of all evils. You never like to talk about money, do you?
To overcome the above obstacles, you must simply do exactly the opposite.
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