Wealth Loss: How it Affects You and How to Avoid it

Wealth Loss: How it Affects You and How to Avoid it

Our quest to find and secure wealth is an age-long one and rightly so because wealth sustains us and gives substance to the relationship we have with our environment. No doubt this quest involves inventive skills, resourcefulness, a creative imagination, endurance and challenges; but this has not stood in the way of our ability to acquire and store up wealth.

Wealth is a very important element of life and it plays a significant role in what I call the three levels of living which are: Survival, Success and Significance. In as much as it is important to acquire it, the benefit of it can only be fully appreciated when it is kept safe.

How wealth loss affects you.

Wealth loss can affect your physical and mental state. It has the potential to cause a destabilization and a decline in function. It can also result in termination of operations and functions; and this can be excruciating. The feelings associated with wealth loss are numerous yet individual. Someone described it  like this: “it feels as though external objects are closing up on you to suffocate you”. Another person described it this way: “it feels like somebody is viciously tugging at your vital organs with the intention of ripping them out”. And yet another: “your whole life flashes before you and you feel like it’s all over”. For those of you who have lost excess wealth and it has left you down and out, I’m sure you can relate to this to a certain extent.

4 simple ways to avoid excessive wealth loss:

  • Spend Sensibly.

Spending can significantly increase wealth loss. Our human and organisational needs give us lots of genuine reasons to spend. If done carelessly and/or mindlessly, it will be at the expense of ample wealth loss in a rather short period of time.

  • Seek out cover.

Set up an arrangement, system or agreement that protects your wealth from unnecessary loss. Take it a step further and also set up something that protects you from running into more loss if you have already lost something substantial.

  • Stay calm.

When you are under pressure, making the best decisions might be far-fetched. As difficult as it might be, try to stay calm mentally so that you do not make inappropriate decisions triggered by erratic emotions.

  • Keep it Simple.

Try not to complicate your affairs. Keep things simple and clear so that it is easy to understand and interpret. Doing this will give you immunity from the tight constraint of austerity.

Until next time, continue to;

Lead right and Live light