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How to eliminate Poverty – Lesson from the Parable of the Talents

Guest post by: John Bino

Article Overview: In the bible, Jesus talks about the parable of the talents, wherein the person who multiplied his portion of the money was given more and the one who hoarded it lost even that. The same is EXACTLY true in real life. People who adopted and applied this philosophy multiplied their resources and became rich, and the ones who did not remained poor. I am of the opinion that we everyone of planet earth could apply this philosophy then there wouldn’t be any poverty at all, which in turn will lead to more harmony, less crime and more peace. So if there was a PRACTICAL way for the masses to apply the philosophy, people would be must better off financially. This article will show you exactly what you need to do to apply this teaching.

How to eliminate Poverty – Lesson from the Parable of the Talents

In the bible, Jesus talks about the parable of the talents, wherein the person who multiplied his portion of the money was given more and the one who hoarded it lost even that. The same is EXACTLY true in real life. People who adopted and applied this philosophy multiplied their resources and became rich, and the ones who did not remained poor. I am of the opinion that we everyone of planet earth could apply this philosophy then there wouldn’t be any poverty at all, which in turn will lead to more harmony, less crime and more peace.

So if there was a PRACTICAL way for the masses to apply the philosophy, people would be must better off financially. This article will show you exactly what you need to do to apply this teaching.

Before we can think of multiplying the talents, we need to get ourselves one. So the starting point is to keep aside a specific portion of your income to start of this process. One of the core philosophies of the rich is to never spend all of the income they receive, however small or large, whether it is through labor or as a gift. Say for example, if you were to receive $1000 today as a gift, what would you do with it? If you are like most of the people out there, you would spend it on some doodads. And you would spend it all! Whereas the rich way of thinking is to retain a specific portion of the same, and spend the rest; generally 70%. So what happens to the rest 30%? The answer to that is the practical application of multiplying your talents.

Of the rest 30%, 10% goes to Charity, another 10% goes to Investments and the rest 10% goes to Savings. That’s the key difference between how the rich and the poor think about money, and how they handle it. A poor man tends to spend all of his earnings, and the rich tend to spend only a portion of it. Now you know why there is poverty all around you. The sad thing is schools don’t teach you this.

Charity - The amount you give to Charity is something of your personal choice. You can either choose to give it off to your church or some foundations or to people you know who need some financial help. The key point is that this money is sent on a one-way road. You shouldn’t expect it back. Consider this amount as not your money, but God’s money. It’s for giving. The returns will come back in it’s own time and in it’s own proportion, multiplied.

Investments - The amount you keep aside for Investments is money working for you, and not the other way around. You can choose to invest in any of the 4 asset classes:

1. Business – You can choose to start a business, or invest in an existing business. If you are a network marketer or home business owner, then this is the money you can use to market your business. You can cover a portion or all of your costs using this amount.

2. Real Estate – You can invest your money, depending on the amount, in Real Estate. You can use this portion of the money to pay for your mortgages on your investment property, not for your personal home.

3. Paper Assets – This includes stock, bonds, mutual funds, etc. This is the most common form of investments that one comes across. If you have a mutual fund contribution coming up every month, then use this portion of the money to pay up for that.

4. Commodities – This includes precious metals, etc. You can choose to invest your money in buying gold or silver on a regular basis.

Key point to note with Investments is that you can afford to lose this portion of your wealth. No problem at all. You will always have the psychological edge knowing that the same or bigger portion is sitting in your savings account. See how it works?!

Savings – The amount you put aside as your savings are not to be touched at all. This functions like an emotional and psychological fortress that no financial situation can break through. The mistake poor people make is to dip into their savings to either spend it or to invest in any of the asset classes. And if things don’t go as per planned, then they not only lose on their investment but also their savings. The amount in your savings account is to be handed down to your next generation, and not for consumption. It’s no wonder why the rich keep getting richer. They just work smart.

The rich handed over their respective 10% savings down to their children and them to their children. The rich built assets with the 10%, and handed them down to their children. The rich invested in real estate and handed them down to their children. And what did the poor do? It’s not because the poor did not have any money, but because they did not have the right philosophy. The poor did not implement the advice and wisdom handed to mankind, whereas the rich did.

Now you know why Paris Hilton has the money she has. And I am doubly sure that Paris Hilton does not spend her savings, she is just spending away the 70% of what she earns. Something to think about.

Take care and God Bless.

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Article Tags: business mentor, business mentoring program, carbon copy pro, cashflow club, home business coaching, john bino, mentorship, parable of the talents, parentsincorporated, passive income opportunities, personal development, rich dad coaching, successful coaching, war on poverty



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