Friday, December 20, 2013

The study of happiness is becoming increasingly mainstream, and in applying this new science to the understanding of personal finance, financial planning, money management and financial goal setting, there are a specific set of characteristics which identify how people are happy with money.
Although very few people admit to being happy with money, or happy with personal finance, happy people do not wait for things to come to them, they get up, get out and get stuff done.
They volunteer their time, and move on from difficult circumstances quickly. Happy people take action, they are proactive, and to understand how to become money-happy, it is useful to understand the opposite position.
Happiness: The Reasons Why People Don't Take Action
You don't need a financial planning degree, or embarking on a financial planning career to be able to take action with personal finance worksheets, yet the most obvious reasons for not taking action include laziness, guilt and depression.
Some people just ignore their money, and even though they understand that doing nothing is damaging, they don't have the motivation to do anything about it. This often leads to guilt and depression - but not action!
Also, many people not talking action with their personal finance generally believe there is not much point in doing so. They can't 'see' the bigger picture of things like goal setting motivation theory, or investing to make money because they have low self-esteem.
Happiness: How The Brain Solves Financial Problems
Mainly, people react rather than prevent, which means the path to financial happiness is far from smooth, and it depends largely on the degree of discomfort being felt, the amount of pain each person is in. The brain does have some degree of regulation in that most people can get to the point where they realise that they " just cant afford it any more," but not much beyond that - unless helped by a system of personal finance budget software, or a home budget worksheet.
There are 3 ways the mind sorts problems
  1. The 'long way round' is to break the problem into its logical sequence and seek the patterns in order to find a budget solution
  2. Most people go by a 'rule of thumb' approach by measuring their solutions with their gut feel
  3. The most creative is insight where the mind does some creative visioning about the financial possibilities
Happiness: How to Get What We Want and Keep What We Get
Happy people find an energy from within themselves or from around them, which fuels their kindness to others. They smile a lot and don't get embarrassed by laughing in public. They are responsible with savings, with an eye on security 'smoothing' for the unexpected rainy day! They are enabled by financial planning software, goal setting templates, affordability calculators,and are comfortable with managing their personal finance online.
The sequence therefore in proactivity is to;
  1. Concentrate on a goal setting template, just as if you were doing goal setting in business and isolate big goals and little goals by naming them, identifying them and money-tracking them.
  2. Set budgets for different aspects of lifestyle, set the rules, and stick to them.
By understanding why you don't take action, and how your brain thinks about money, it is entirely possible to manufacture the conditions under which happiness can be achieved. When this is supported by proactive, online tools which take all the hard work out of managing money, "why would anyone choose to remain unhappy?"

Tuesday, December 3, 2013


Resolution in writing of the Members of the Car Insurance Management co. Ltd Condominium Plan No. XXX adopted by circulation on 30th October,  2013

                                                                          LKR 2,000,000.00
                                                                          Current Account No: 30XXXX22553XXX5

We the undersigned being the Council Members Of the council of Car Insurance Management co. Ltd, Condominium Plan No: XXXX (hereinafter referred as the ”Management Corporation”


That the Management Co. Ltd obtains an overdraft facility of Rupees Two Million (Rs. 2,000,000.00) only from Peoples bank, XXXX Plaza, against the following fixed deposit certificate for Rupees two Million two hundred and seventy one thousand five cents seventy eight ( Rs. 2,271,005/78 ) of Liberty Plaza.

Certificate No
Rs. Cts




That any Directors of the Company be and are hereby authorize to sign any document in connection with obtaining the above facility

NAMES OF THE COUNCIL MEMBERS                                    SIGNATURE

Mr. XXXX Jathilaka                                                     ……………………………..

Mr. D. Herath                                                              ……………………………..

Sunday, December 1, 2013

Finance is often made more complex than it needs to be, and proper personal finance budgeting to build wealth need not be stressful. Simply by following a few simple basic rules of personal finance your budgeting will not only get you back on financial track but begin the process of wealth creation that we all deserve.
The principles of a sound wealth building system all require the foundation built on personal finance budgeting. Solid and consistent budgeting is one of the laws of personal finance that you break at your own expense. The cost of not following your money, and knowing how your money flows in and out of your possession is dear, and a very common mistake. But, what are the principles of successful budgeting.
The first principle of personal finance budgeting that comes before any dreaded calculations or budget sheet assessment is to remove all the emotion from your finances. This is the hardest and most important of the personal finance budgeting secrets to be revealed. If you find yourself wracked with debt anxiety, overwhelmed by countless financial obligations, or just simply hate counting bills and income, you are not alone. But it is an essential and important to take effort to remove any emotion from this process. You are simply counting numbers,, to paint a map of where you are now, and to measure progress towards your wealth destination. Removing the emotion from your personal finance budgeting will be a work in progress, and you should always remain on guard for its returning.
The next step to when personal finance budgeting will be to compile a list of both your assets and your liabilities. With this step in the budgeting process we are trying to evaluate your net worth. You simply need to make a list of what you own, assign each item a number as to what it could be sold for, or its current worth, and subtract from this list what you owe. For example, if you own a boat that can be sold for $1500 and you still owe $750 you would be left with a value of $750 that could be considered a part of your net worth. By determining these numbers in personal finance budgeting we are able to a better idea in the broad sense of what you are worth financially.
Following the determination of your net worth, our next budgeting step is to determine what your dynamic finances are. This sounds more complicated than it is, I am only asking that you make a list of what your monthly income sources are and how much you bring in each month from these income streams. We then need to compile a list of your monthly expenses, what they are and how much the subtract from your monthly income. Proper budgeting your personal finances means leaving no expense or item off the list, no matter how small, account for everything. This budgeting task reveals to us the speed that you are travelling with your finances, either to financial ruin or towards your wealth building destination.
You have accomplished all there is to wise personal finance budgeting. You are now capable of assessing what your worth is, and have an idea of what your destination is (your wealth building goal), and you know at what speed you are travelling towards it monthly. Your budget provides you with a clear understanding of where your money is and how it is flowing. With this information you can now make wiser decisions and streamline your finances, all with the help of a little personal finance budgeting each month.
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