Financial Abundance With Amida Wealth
This August is National Wealthness with Amida. This month is about building financial knowledge, and then understanding how to bring that knowledge into living a wealthy life. As we transition out of summer vacation mode, we also begin to shift our energy towards a new season with financial intention the Amida way. In last weeks blog we talked Financial Freedom and what it means. This Sunday, we unravel the concept of Financial Abundance.
Financial abundance is a state of being. It is a mindset of having “enough”, instead of “not enough.” When we are in a state of living-in financial abundance, we do not need to compare ourselves or “keep it up” with The Jones’s. Instead, we are surrounded with abundance, nature, friendship, family, clean water, and a comfortable home. Abundance is a state of being.
As mentioned above, when we are in a state of being that is “enough” we are able to experience Financial Abundance. In this state, we have a plentiful amount of money and resources. We are able to see where we stand, be grateful for where we are, and sense that are in control of our finances and have enough resources. That being said, Abundance is subjective.
Financial Abundance is Subjective
Financial abundance is subjective because its definition varies from person to person based on their individual circumstances, goals, and values. What one person considers abundant wealth might be different from another person’s perspective. Here are some reasons why money abundance is subjective:
- Relative perspective: abundance is often relative to a person’s financial situation and upbringing. For someone who grew up in poverty, achieving a stable, comfortable income may feel like money abundance. On the other hand, someone from a wealthy background might only consider themselves financially abundant if they surpass a certain level of affluence.
- Personal goals and aspirations: People have different money goals and aspirations. Some may desire to own multiple properties and luxury items, while others may be content with a modest lifestyle focused on experiences and personal growth. What constitutes financial abundance to one person may not align with another person’s definition.
Overall, abundance is not a fixed, universal benchmark but rather a fluid and personalized concept. It is essential for each person to define what money abundance means to them based on their unique circumstances, values, and life goals. It’s also crucial to strike a balance between pursuing financial goals and finding contentment in the present moment, irrespective of the level of wealth one has.
Financial Abundance Is Not Just About Material Possessions
It’s essential to understand that financial abundance doesn’t necessarily equate to materialistic wealth alone. It can also involve having a sense of money security, peace of mind, and the ability to share or contribute to causes that are meaningful to you. Achieving money abundance often requires financial planning and education. In other words, abundance is a process.
At Amida, we replace the word “budget” with allocate because we believe it puts the power back in our hands. That being said, in order to achieve financial abundance oftentimes there is a financial allocation strategy set in place. This allows individuals to make wise decisions with their money, that leads to a greater vision down the line. For example, do you value a large cozy home on the ocean or a little cabin, and plenty of travel? What sort of lifestyle do you want for your life and your family? These are all aspects that contribute to your financial allocation strategy.
While abundance may seem like a plethora of stuff (as shown in movies) the process of abundance actually involves a thorough understanding of money, how it works, and oftentimes an advisor that understands you, your goals, and the life you want to create for yourself.
Here’s a little fun activity you can do this Sunday to see your own wealth and abundance. At Amida, we do an exercise with our all of our clients. First, we break down our monthly expenses into what is “fixed” and what is “variable” expenses. Fixed expenses refer to the must-have expenses that we can’t control. For example; mortgage, car payments, electricity, phone bills, food etc. In contrast, variable expenses are something we can truly control. For example; dinner dates, coffee shops, shoes, clothing, bags, alcohol. All of these expenses are controllable. In other words, when we want to achieve goals and live in abundance, we want to be able to look at the variable expenses and what we can shift in order to allocate money into what we do want to create. Oftentimes, we see clients in shock after discovering how much variable expenses they have in their lives. Through this activity they are able to see their abundance status. Going forward, they then become more present to what they do want to create, through the conscious choice to allocate money in the direction that they want to go.
Simply take out a piece of paper, and break-down your monthly expenses into these two categories (fixed and variable). What are your thoughts after this activity? Are you able to reflect back on your own abundance? Let us know how it goes!
Amida Wealth Family Conversations
At your next family or friends gathering – share this blog. Encourage those around you to think about abundance through the lens of having “enough” rather than having too much.
At Amida, we want to take away the taboo of money & wealth. We believe that there is enough wealth to go around for everyone. That being said, how do we achieve money abundance in a peaceful way? Is it possible to stay present, and become wealthy at the same time?
Inquire with the ones you love and share your your wealthy knowledge.
At Amida Wealth, we work with clients to better understand their values and desires. In other words, we advise our clients to live in abundance through all of the elements of wealth. Our mission is to transform your vision of wealth. To help you pursue your goals for financial independence while living the life you desire. Ensuring you are building habits that lead to happiness through a successful career, wise investments, good health and loving relationships. This is true abundance! This is true wealth! Remember, we are always one phone call and email away.