Self-Discipline in allocating one’s earnings

Meditation

Meditation for Beginners

 

Self-Discipline in allocating one’s earnings

 

Setting aside money in case of emergencies, such as insurance for when one is ill

 

The Lord Buddha not only taught scrupulous ethics for earning a living, but also how earnings should be allocated so that one can live without financial problems. He taught that one should divide one’s earnings into four parts. The first part is for making one’s earnings into four parts. The family. The second and third parts are for re-investment on one’s business. The fourth part should be put aside in case of emergency. Keeping a part in case of emergency can be interpreted in two ways as follows:

 

 

Hence, keeping some savings, one can help one’s relatives and friends

 

1. Setting aside money in case of emergencies, such as insurance for when one is ill, or in case of a natural disaster or robbery. It one has some savings, one can recover from such circumstances without having to bother one’s relatives. This can be interpreted as insurance against possible harm; in the present life;

 

2. Additionally, the money can be for helping friends and relatives when they have financial problems. Giving them a hand when they most needed can strengthen their friendships and relationships. Hence, keeping some savings, one can help one’s relatives and friends when they are in times of need.

 

 

Putting money aside to protect oneself from possible harm in the next life by making donations

 

3. Putting money aside to protect oneself from possible harm in the next life by making donations (for example, offering alms to monks, donating for building temples and cetiyas, supporting orphans, supporting disaster survivors. And so on). According to the Buddha, making financial contributions to others is a path to earn merits and prosperity-merit which can ensure our well-being in lives to come.

 

Hence, the allocation of the fourth part of one’s earning tells us that the person is cautiously living their life. Anyone who follows the Lord Buddha’s teaching on how to spend their earnings wisely is praised as a good and competent man. It should be added that this discipline is only one of many Buddhist teachings relating to economic issues.

 

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