Wednesday, March 11, 2009

Investment in Wealth Management: Taking Care of What We Have

''Consider also, in counting your blessings, taking care of the things you have now, and putting them to good use, there may be times when we got to make do with what we have.''

Author Unknown

1: Smart Spending: Checking whether it's a need or not.

2: 'I'll put this to good use': A beaver takes a twig.

The Hidden Investment is about making the most out of life. It is also about making the most out of what we have.

At the onset of our most critical expenditures, more often than not, we weigh between cost and quality, and most of the time, we prefer quality over something cheap that may prove to be costly due to maintenance, repairs and, worse, replacement.

There are people who can pretty much assess how much service something, some gadget or material has delivered to them. That’s a good thing to have. Generally, for most of us who do not have that keen sense of evaluation, the quality of something is a qualitative perception which directly relates to the time span of such a material exists and can be put to good use. Simply put, ultimately, how long something can provide service to us is the manifestation of its quality. We often set aside as minor premise other factors such as frequency of use and environmental conditions (i.e., storage).

One of our objectives is making use of our possessions, material things and resources efficiently and to the best of service it can render us. In other words, making things last. It is definitely about exerting extra effort in taking care of our property and belongings.

This is Investing in Wealth Management; taking care of things in general and in particular, making it last so that we can stretch its usefulness.

1) It’s a Commitment

Most people, especially in our time, are pretty much used to disposables. Sometimes, we can take our resources for granted, even those that may have cost us a few more bucks than others. We think so much of the cost when it comes to the purchase of everyday things; say the flashdrive, the pair of gardener’s scissors, even our mobile phones and a lot of other things, but after the transactions, we do not put enough effort in taking care of them. We are not so much concerned with its maintenance, unless it’s something really big. We have to make a decision in taking care of our things. It’s a commitment we have to make with ourselves

2) It’s an Effort

Sometimes, we even have things that are there for no reason at all. Say we bought that thingamajig from a garage sale last summer! And now, we don’t know what to do with it and realize it could be a waste of money. It’s an effort to take care of our things even those we may have thought not to benefit us. The phrase “I’ll put that to good use” could be a great mantra whenever we find gadgets or materials lying around the house. The next time around we can make an effort in thinking whether or not something merits our even the cents in our pockets.

3) It’s about Extending Value

This could well be about creativity in putting things to good use and making them last. More importantly, it’s about extending it’s value. Well, the notion of value varies from person to person, but at any rate, prolonging the service of something does stretch their value.

Two characteristics usually come to mind:

Thrifty - careful with money and resources: managing money and resources in a cautious and sensible way so as to waste as little as possible.

Frugal - characterized by thriftiness and avoidance of waste

Well, yes, we have to be this and that. Don’t worry, just always think about it as efficient management of wealth and properties. These characteristics will be very handy on our journey to success in every way.

See, The Hidden Investment can be this mundane in a manner and more importantly practical at that. This is simply making the most out of life and everything that’s in it, including our biggest commercial assets to grandma’s old pair of scissors.


Finally, The Five Basic Hidden Investments (Our Key Categories):

Your Greatest Asset: Yourself.

Business Partners: Building Relationships

There’s Gold in the Hours

Sharing: Good Measure and Running Over

Making it Last: Wealth Management

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