Let’s talk about money
(based on a talk from B. Procter)
Men and women have been concerned about money since the first coin was fashioned in Asia Minor about 700 B.C. You might say that money is like good health in that we are concerned about it to the extent that we don’t have it. The purpose of this message is to get down to basics—to clear the air surrounding the entire subject of money.
Let’s get absolutely elementary. And while you may already know most of the things, it’s important that we remind ourselves just exactly what money IS, how much of it is ENOUGH, and how to EARN the amount of money you need to live the way you WANT TO LIVE, now, and in the future years.
To begin, let’s get rid of the old myth, once and for all, that money is bad or unimportant. It is not bad, and it is important, vitally important. It’s just as important as the food and clothes it buys, the home it affords, the education it provides, and the doctor’s bills it pays. Money is important to any person living in a civilized society. To argue and split hairs to the effect that it’s not as important as other things is absurd. NOTHING WILL TAKE THE PLACE OF MONEY IN THE AREA IN WHICH MONEY WORKS. That’s all there is to it.
What is money? Money is the HARVEST of our PRODUCTION. Money is what we receive for our production and service as persons, and which we can then use to obtain the production and service of others. We can quite often accurately gauge the extent of our production and service by simply counting the amount of money we receive for it.
You will hear people say, “Money won’t bring happiness.” The earning and possession of money has brought a lot more happiness than has poverty. Money is a warm home and healthy children; it’s birthday presents and a college education; it’s a trip abroad and the means to help the older people and the less fortunate. We’re not saying that piling up a lot of wealth is important. What we are saying is that money is important because it’s the only reward which is completely negotiable … and can be used by everyone.
Look at it this way: A diamond is more valuable than a lump of coal, yet that’s exactly what a diamond was at one time. And just as a lump of coal can be transformed into one of the world’s most valuable objects … a human being can vastly increase their own value to the world.
Surprisingly, you could actually look all day, possibly even all month, and not find anyone who really understands how to earn money. You may at first think that is a grossly exaggerated statement, however the more you are involved with this subject, the more you will realize it is not. 1% of our population earns approximately 96% of all the money that is being earned. You can go right through any educational system and not learn one thing about earning money.
Almost everything that you and I have been taught about money as we grew up was incorrect. The masses operate under the false assumption that because the vast majority of people go to work and earn an income, they know how to earn money. The truth is, they’re grinding out a living. They are following a strategy for earning money that will not permit them to accumulate any amount of wealth and live the good life at the same time.
The reason there are so many poor old people is because there’s a lot of poor young people who grow old and never learn the truth about money. Many people believe that if you were going to earn a lot of money, you had to be really bright, well-educated and lucky. The truth is that earning money does not necessarily have anything to do with age, gender, geography, formal education, background or business experience. If you want to earn a lot of money, there is one simple prerequisite—you must make a decision that you are going to earn a lot of money.
Once that decision is made you will then, very likely, follow a strategy that you follow when you’ve made a decision to do anything else that you didn’t know how to do. You would go to someone who has demonstrated by results, that they know, and you would follow their instructions.
The earning of money is an exact science. Earl Nightingale gives us the formula: The amount of money we receive will always be in direct ratio to the DEMAND FOR WHAT WE DO—OUR ABILITY TO DO IT—and the DIFFICULTY OF REPLACING US. A highly skilled human being is worth more money in our economy than a person who is not highly skilled and who can be easily replaced. This is not to say that one person is any better than any other person. A janitor is just as important, as a human being, as a brain surgeon. But the amount of money they will earn will be proportional to the demand for what they do—their ability to do what they do— and the difficulty of replacing them. A person can be trained to clean a room in a half hour—and can be replaced at any time by virtually anyone … or even by a robot. The brain surgeon spent many years learning their profession, often at great personal sacrifice, and at high cost … and they cannot be easily replaced. As a result, the surgeon might earn as much money in a month as a janitor might earn in a year.
Now, these are extreme cases used to show THE RELATION OF INCOME TO DEMAND, SKILL AND SUPPLY. And this is as it should be. This is why there are few limitations on a person within their company and industry. Their income will be in exact proportion to the demand for what they do, their ability to do what they do—and the difficulty of replacing them. That’s why the whole idea of trying to get something for nothing is ridiculous—and won’t work. A top sports star will earn millions of dollars a year. You might say chasing a football serves no purpose—but the demand is there—useful or not. It’s the same with a star in the music business—their income will very accurately reflect the demand for what they do.
That’s why preparation for life is so important. Luck has been defined as what happens when PREPAREDNESS MEETS OPPORTUNITY. A great opportunity will only make the unprepared, the unqualified, appear ridiculous. For every one of us, opportunities are all around us—our ability to see them will depend in large part on how well we have prepared ourselves. Now, how do you stack up in this regard? While this may sound elementary, you’d be amazed at the number of people who want more money—but don’t want to take the time and trouble to qualify for it. And until they qualify for it—there’s no way on earth for them to earn it! It’s like the person who wants a good looking figure, but doesn’t want to exercise or enjoy a healthy diet long enough to get it.
To nine-tenths of the world’s population, the average North American or European is ALREADY RICH. A working person in the developed world has just about everything the wealthiest person has—only smaller. They have a home, car—often two of them—mobile phone, TV, savings account—debts … they’re just smaller. Their food is as good and just as plentiful. Their bed is just as comfortable, their home is just as warm in the winter. They have exactly the same amount of time and just as much—maybe more—freedom.
So, in talking about money, let’s understand that we’re already rich, as people. Now, how much do YOU want? How much money do you need to live the way you want to live, to accomplish the goals you have established for yourself? Most people THINK they want more money than they really do, and SETTLE FOR A LOT LESS than they could earn, if they went about it the right way.
At this point, sit back, relax and let your mind flow freely. Realize that fantasy is the first phase of creating anything. I want you to imagine that you have just turned your annual income into a monthly income. When you’ve got that figure straight in your mind, begin to mentally play with this idea. This is not going to be a windfall that just comes in once. Every month you will receive this new increased amount and, in fact, it will begin to grow. In the space provided, clearly indicate what you would change in your life with this new income.
“The good life is expensive. There’s another way that doesn’t cost as much, but it isn’t any good.” Spanish Distiller
The world will pay you exactly what you bargain for—exactly what you earn—but not a penny more. We will receive, not what we idly wish for, but what we JUSTLY EARN. Our rewards will always be in EXACT PROPORTION to our SERVICE. If you don’t like your income, you must devise ways and means of increasing your service. And this is an individual thing; no one can do it for you although you can get ideas from others. Your service must come out of you—your mind, your abilities and your energy.
A strong person cannot make a weak person strong; but a weak person can become strong on their own by following a specific course of action for a sufficient length of time. And a person who’s already strong—can become a lot stronger. It’s the same with this business of money. A person who refuses to do more than they’re being paid for will seldom be paid for more than they’re doing.
You may have heard someone say: “Why should I knock myself out for the money I’m getting?” Now, it’s this attitude which, more than anything else, keeps a person at the bottom of the economic pile. This person doesn’t understand that only as we GROW IN VALUE AS PERSONS, we will receive the increased income we seek. If we try to stand still in our work— and millions do—we’ll never know the rewards, nor the joy of accomplishment and the personal satisfaction and peace of mind which come only to the person of unusual achievement.
There are two distinct steps we must take.
First, we must DECIDE how much money we really WANT. It’s at this point that we must really pay attention to Earl Nightingale’s words. He is directing us that we must make a decision on an amount of money and that decision is not what we think we can earn, but what we want. There’s an enormous difference. There’s an “ABC” approach to this.
“A” Group—What I know I can earn
The more familiar you become with the subject of earning money, the more apparent it will become that the masses are stuck on the “A” level. It has really not occurred to them that What you want to earn A B C What you think you can earn What you know you can earn they control what they earn. They very likely grew up in an environment where their parents or guardians lived on the “A” line and had someone else deciding how much they would be paid. And, to compound the problem, most people on the “A” line gravitate toward and associate with other “A” line people. If they ever hear anyone talking about great increases in income, it is usually wishful thinking that is verbalized but not seriously thought about. If they change jobs, they will generally seek a new position where their income is in the same bracket. They may hope they get a few dollars more with their new position, but will frequently settle for a few less. It is sad but true that some people spend their whole life on the “A” line and our educational system is doing absolutely nothing to change it.
“B” Group—What I think I can earn
Periodically an individual will attempt to break away from the “A” Group. They aspire to a better life-style than that which they have. They rarely, if ever, seek advice on how they could earn more. Their income remains a very private matter, and if they talk to anyone, it’s probably just their spouse who very likely doesn’t know any more about earning money than they do. They begin to think, “How could I earn more,” and they begin moving toward what they think they can earn. Their thinking is influenced to an enormous degree by their old paradigm, so limitations keep popping up in their mind. They spend more time thinking of why they can’t earn it than how they will. They begin to think, possibly another job, a better job or maybe extra part time work … and sometimes end up with two or three jobs. Their old paradigm is locked into the idea of “try harder,” and although they will experience an increase in their income, it definitely has a ceiling.
“C” Group—What I want to earn The “C” Group is a very small, select group of individuals who live in an interesting world. Anyone can join it; there’s always room for new members. It requires no one’s permission and, on occasion, you’ll find individuals who go directly from the “A” Group to the “C” Group. In retrospect, individuals who make this change will tell you it was a simple change—that there’s a very fine line which separates the one group from the other.
However, at the time the change is being made, it can become one of the scariest situations a person will ever experience. It requires a total paradigm shift. To go there, you have to think outside of the box, live with brand new rules, follow a totally different strategy. People in this group are generally in the habit of always seeking more information, and developing greater expertise. If a person is not in this group, but wants to move into it, their best advice is to seek out counsel from an individual or individuals who obviously operate on this level. Again, the only prerequisite for earning the amount of money you want is a decision. Once the decision is made and the advice sought, the way will become clear.
Once this decision is made, the second step is to forget the money—and CONCENTRATE ON IMPROVING WHAT WE NOW DO—until we’ve grown to the size that will fit and naturally earn the income we seek. Once we’re fully qualified for the amount of money we decide to earn, we’ll soon find ourselves earning it. And we will also discover that with our new powers and abilities, it’s no more difficult—perhaps even less difficult—than what we’re now doing for the money we’re now earning.
Now, ask yourself, “How much money am I perfectly willing to earn? (Realizing that the amount I earn will be in exact proportion to my skills—the demand for what I do—and the difficulty of replacing me.)”