Are you economically mature?
Socially speaking, a young person becomes "mature" on his/her 18th birthday. Or at least, that's what the parents are hoping for!
Legally speaking, a young person becomes "legal" (i.e. no longer a minor) when he/she reaches 18 years of age.
Economically, however, it's difficult to say when a person becomes mature.
You are economically mature when you intellectually understand how "income depends on outcome." That is, when you can clearly link the amount of outcome you produce to the amount of income you receive from an employer, then you can be considered an "economically mature" person.
A salesperson paid partly or wholly on commission, understands very well the causal connection between outcome (or sales produced) and income (or commissions received).
When your job is structured like that of a salesperson, and you get paid a base salary PLUS commission -- that is, you're paid based on your performance -- then the sky's the limit in terms of how much money you can make.
It's important to note that "economic maturity" comes before "economic independence."
You cannot become economically independent (or financially independent) if you are not first economically mature.
This being said, a person can be economically mature WITHOUT being economically independent, because the latter requires courage and consistent efforts in training yourself to perform at a high level so as to earn maximum income.
For example, a person who understands that income depends on outcome, but sees that his job does not pay him more if he produces more desirable work outcomes, can be said to be economically mature but NOT economically independent.
He doesn't have the courage or the guts to go for a job that is performance-based. Nothing wrong with that. Courage is something you have or you don't. And every person acquires courage at a specific season in his/her life.
But if you see how income depends on outcome, and you are willing to work hard at training yourself so you can maximize your outcomes (as defined by your employer or client), then you can become economically independent and master your own financial destiny.
That's because you know how to create value, which is exchanged for cash. You also know how to create more and more value, resulting in more and more money coming to you.
The first step on the path to financial freedom, therefore, is to transcend this ridiculous concept called a "job." It's really a win-win business relationship, where you provide a certain value to the employer in return for cash. The more value you provide, the more cash you get.
Legally speaking, a young person becomes "legal" (i.e. no longer a minor) when he/she reaches 18 years of age.
Economically, however, it's difficult to say when a person becomes mature.
You are economically mature when you intellectually understand how "income depends on outcome." That is, when you can clearly link the amount of outcome you produce to the amount of income you receive from an employer, then you can be considered an "economically mature" person.
A salesperson paid partly or wholly on commission, understands very well the causal connection between outcome (or sales produced) and income (or commissions received).
When your job is structured like that of a salesperson, and you get paid a base salary PLUS commission -- that is, you're paid based on your performance -- then the sky's the limit in terms of how much money you can make.
It's important to note that "economic maturity" comes before "economic independence."
You cannot become economically independent (or financially independent) if you are not first economically mature.
This being said, a person can be economically mature WITHOUT being economically independent, because the latter requires courage and consistent efforts in training yourself to perform at a high level so as to earn maximum income.
For example, a person who understands that income depends on outcome, but sees that his job does not pay him more if he produces more desirable work outcomes, can be said to be economically mature but NOT economically independent.
He doesn't have the courage or the guts to go for a job that is performance-based. Nothing wrong with that. Courage is something you have or you don't. And every person acquires courage at a specific season in his/her life.
But if you see how income depends on outcome, and you are willing to work hard at training yourself so you can maximize your outcomes (as defined by your employer or client), then you can become economically independent and master your own financial destiny.
That's because you know how to create value, which is exchanged for cash. You also know how to create more and more value, resulting in more and more money coming to you.
The first step on the path to financial freedom, therefore, is to transcend this ridiculous concept called a "job." It's really a win-win business relationship, where you provide a certain value to the employer in return for cash. The more value you provide, the more cash you get.
posted by Super Peter at 2:06 AM
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