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TYPES OF WEALTH
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TYPES OF WEALTH
Wealth can be termed as having abundance of resources that are of significant value.
Wealth is a broader concept although many people narrow down to wealth as financial income but wealth is not equivalent to money only. Wealth in its wholeness entails all aspects of life. Wealth has been classified into four major categories;
The ability to have freedom of money and being in a position to never worry about finances. Financial wealth can be attained through discipline and understanding the fundamentals that accelerate money growth. This may include; working on a budget, making only the necessary expenditures, acquiring financial literacy and having self -discipline.
This form of wealth is the wealth of having good physical health. This form of wealth has been termed as the true wealth because all other types of wealth are totally dependent on one’s general physical health. In order to maintain a sustainable physical wealth one needs to understand the principles around health literacy, physical exercises, nutrition, rest and body relaxation and being in a sound and healthy surroundings.
Social wealth is more of one’s confidence, character, reputation, relationships with other people and their lifestyle. The ability to meet and satisfy one’s emotional needs as well as being in a position to interact positively. It entails engaging with human beings and understanding their nature so as to forester strong networks and have long lasting quality relationships.
Time wealth has been defined as having the freedom of time; having an advantage over time. This form of wealth is commonly predominant is today’s generation who seek to have more time so as to chase after their list of never ending bucket list. Time wealth is rare to attain because most of the people use up their time and resources seeking after financial wealth and a times neglect physical, social and time wealth which are also key to living a satisfactory life.
All human beings have the ability to attain all the forms of wealth and lead lives that are satisfactory. This fulfillment can be attained if only all the forms of wealth are achieved independent of which level one is at in relation to reaching the highest point of each form. The goal to leading a satisfactory life is ensuring one is not trapped in the race of seeking after one form of wealth in the expense of other forms. All forms of wealth are important.
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