The Definition Of Wealth

What’s Your Definition Of Wealth?

How wealthy are you? Do you consider yourself abundantly wealthy? Living below the poverty line? Or comfortably getting by?

According to the dictionary, the definition of wealth is:

1.    An abundance of valuable possessions or money.
2.    The state of being rich; material prosperity.

Technically wealth is the measure of all your owned assets – physical and intangible – and subtracting all of the debts. So are you technically wealthy? Or is the reality of your assets minus your debts rather more frightening?

Before You Stop Reading…

Before you stop reading and begin to sing the song of “Money Doesn’t Buy Everything” we want you to stop and think – wouldn’t you like to be wealthy? Wouldn’t you like to enjoy more time with your family and less time working for others?

Our Definition of Wealth

Our definition of wealth is a little less black and white. While we understand that the definition of wealth is technically a measure of how much you own rather than owe, we also feel that there are grey areas.

We believe that wealth is also measured in family, in relationships, in time and of course in health. All the money in the world won’t bring you happiness if you are lonely and unwell.

So think again about your circumstances and how you could possibly change them. Is your family life enriched? Do you allocate quality time with your children? Is your partner feeling like an important part of your life or just an offshoot? When you are wealthier financially you will find that you have less of an inclination to do that overtime and more of an inclination to spend time with your partner, children or other family members. Family is important to consider when you are thinking about your overall wealth.

Are You Time Poor? Or Rolling In Time?

Time – life is getting busier every day and it would seem time is something we never have enough of!! You should think about how you can better manage your time to make more money. Do you have a long commute? Is there a way you could make better use of your traveling time? How much television do you watch? Add it up over a week and you may be surprised where you can find a few extra hours to increase your wealth.

Healthy And Wealthy Just Go Together…

A healthy lifestyle can take time – how many times do you think I would have gone jogging if I could have just found the time? I got home from work so late that I had no time to cook and take out was the only option? All of these are contributing to poor health and impacting on your overall wealth. Spending so much time at the office accumulating financial wealth may make you feel better in the short term but how is it affecting you in the long term? It’s time to take control of your health and make sure that the wealth you accumulate isn’t going to be spent unnecessarily on health insurance or hospital visits.

Define Your Own Wealth

So now you know where you are in the spectrum of wealth you need to ask yourself – are you happy? What can you do to make yourself more wealthy? Going into business for yourself part time can be a rewarding experience. You can grow personally and professionally. You will find more flexibility and you may even find so much success you can leave your current job. Never again will you have to tell your kids I don’t have the time or the funds.

Assess your personal wealth today and start planning for how you can change your circumstances. Today is the first day of your new beginning.

If you would like more tips on budgeting, check out www.moneycrashers.com

About the Author

No Comments

Leave a Reply