Buddha’s Guide To Wealth Creation – The Rightful Wealth Building Tips

According to Buddha’s guide to wealth creation, wealth building should be done patiently and gradually. How appropriate this advice is, especially in these modern times where we frequently see wealth builders make and lose very quickly in risky financial ventures, and many other people being duped and swindled of their savings by shady get-rich-quick schemes!

One who is wise and morally upright,

Shines like a fire on a hilltop,

He or she builds wealth patiently bit by bit,

Like the way bees gather honey.

In this way riches will be steadily accumulated,

Like an ant-hill that grows high.

Buddha’s guide to wealth creation should be done in accordance with Right Livelihood in Noble Eight-Fold Path. This simply means that occupations involving killing, the sale of animal flesh, and trading in humans, weapons, poisons and intoxicants should be avoided.

Wealth builders who build up his or her assets slowly and patiently is usually more stable and last longer. The wealth accumulated should be divided into four parts and used as follow:

One part should be spent on ourselves and our family, with a portion for charitable purposes.

Two parts should be used for continuous wealth building, such as by investing in our business so that it will remain viable and continue to provide a constant and ample flow of income. In the modern text, these two parts may perhaps be used in stable long-term wealth creation.

The last part should be set aside as savings for rainy day. Misfortune may strike at any time, and wealth builders should always be well prepared for it.

These are all particularly good reminders as we are nowadays constantly bombarded by the media fueling our greed for easy and fast wealth building methods, and making us crave for frivolous, expensive and ultimately useless possessions. Because of this, many people spend unwisely and get into excessive debt which results in financial difficulties. This of course will likely lead to domestic and marital problems, bankruptcy and even crime.

Thus while the Buddha’s guide on wealth creation may appear simple and conservative, it can be a constant reminder which if followed, will have a significant and positive impact on the financial well-being of most people, eventually leading to lasting prosperity and a happier life for yourself and your family too.

Tips on Building Wealth – Education Is the Key

I attended a free financial education class conducted by one of the independent associates of the International Marketing Group here in Cebu. It was indeed very enriching. I felt all fired up with the mission to eradicate the problem of poverty in this country that I decided to write this article.

I actually learned a lot from the seminar but I can’t put it all in just one article. So, let me just share with you ideas that appealed to me the most. I hope you will also get fired up and join me in this crusade against poverty.

Based on statistical research, it has been predicted that a large number of Filipinos will face an increasing challenge with the future of their financial lives. Wanna know why? Well, let me tell you.

Four (4) Major Challenges of the Average Filipino

  • There is an uncertainty in the labor market. With the advancement of technology, more and more companies prefer to spend on automating their business operations.
  • Most Filipinos are living in high debts but their savings are low or none at all.
  • There is an extremely high cost of education. According to studies, college tuition fees in the Philippines double every six (6) years.
  • As the country is developing, the cost of living in the Philippines is also increasing. Prices of commodities go up more rapidly than a person’s regular wage.

Build Your Wealth Like You are Building A House

The Filipino is indeed facing a weary situation about his financial life in the future. Although some have already learned the value of saving for the rainy days but they have not yet mastered the art of building wealth. Many people are making this mistake. They become so excited about getting rich quick that they go right on to making an investment while neglecting the one thing necessary – a solid foundation.

Building wealth is just like building a house (or any architectural structure). You need to build a solid foundation in order for the house to stand strong. The taller the structure that you want to build, the deeper you need to dig for its foundation.

It is also the same with your wealth. If you want to secure your future, then you need to build a solid foundation for your wealth building. The International Marketing Group has a team of financial advisers who can teach you strategies on how to build this solid foundation for your wealth.

Education is the Key to Success

In everything that we do, there is always a learning curve. We do not get to be masters right away. We still need to study and learn how to do the work. Carpenters were not born with a hammer in their hands. Somebody taught them the skills of driving that hammer. In the same way, we also need financial advisers to teach us the right way to building our wealth.