- Posted March 3, 2013 by
The eight decissions that mark your financial life, with Eusebiu Burcas in Cluj
This seminar took place in the International Ballroom from the “Transylvania College” International School in Cluj, the only Cambridge-accredited school in Cluj.
In this seminar, Mr. Eusebiu Burcas shared to those present at the event what are the eight decisions that mark our financial life, that he himself became aware of during his life. Number 8 is considered by the Chinese as the number of luck.
Eusebiu Burcas started his presentation talking about money and relati8ng his first experience regarding money that he has ever had. At age 8, he bought a bat, investing in the bat of the cowboy’s son in his village. “What we live in regards to money within childhood affects us in our adult life”. In other words, if we were to look at this aspect from the point of view of psychology and of Neurolinguistic Programming, everything is related to our subconscious and to the program that our mind runs every time we encounter ourselves in a similar situation.
In the opinion of Mr. Eusebiu Burcas, the slogan of the 21st century is “Get around by yourself. Be in charge by yourself of your own finances”. Then he talked about the system of pensions, that not only in Romania but around the world is “Broke”. “The deficit of pensions in Romania at the beginning of 2013 is 2 billion euros. The pensions’ system is pyramid system: the report between tax-payers and retirees in Romania at the beginning of 2013 is 1/1.74”.
He also mentions that “at the end of 2012 it was for the first time that a Romanian official admitted on a television shoe that the working population who is now 35-40 years of age will have as pension only 15% of what they are earning right now”. This is the reason why it is important to have a healthy financial education. “The issue of the 21st century is not that I don’t know how it’s done. The issue is with the doing”. The 21st century is the century of competences: 20% - theoretical knowledge and 80% practical knowledge (competences).
In order to obtain good results, it is necessary to think differently.
Next we found out what the stairs of financial success are. About this classification I had heard at other personal development presentations. For instance we found out that 7% of the world’s population lives in a financial chaos, because they do not know what they are spending the money on. The most important characteristic of money, says Burcas, is that thay can be counted. “Only if you count them you can take a decision”. There used to be a joke around a while ago. “I am going to the bank to take out my money. Why? So I can count it. Then I put it back in.” How true, how wise!
The second stair of financial success is financial safety. Only 22.5% of the planet’s population is at this level. “If tou lose your current source of income, you can live only six months more on your current level. This is why it is important to have several sources of income, to unlock several sources of income. This what the financial and personal development courses from the West have been preaching for many years.
The thirst stair of financial success is Financial Independence, but only 7.5% of our planet’s inhabitants are on this level. This level may be defined as this: “the income produced by what you own and covers your expenses”. “Be sure that you have an income from what you own and produces money: business, actives and real estate”.
At the top of the pyramid – “Financial Freedom”, there are only 0.6% of the world’s population. Because it is quite difficult to get there.
Here are the 8 decisions that mar our financial life in Eusebiu Burcas’s opinion.
Decision No. 1 - What source of income do you chose ?
Decision No. 2 - How do you administer your income?
Decision No. 3 – Marriage. What impact can marriage have on your financial life? How can a family come out of the financial chaos?
Decision No. 4 – Your house – How can your house influence your financial life? Decision No. 5 – Purchasing a car. In the opinion of Eusebiu Burcas, “acquiring a car is the worst acquisition that an individual can make”.
Decision No. 6 – Low value purchases (mobile phone, bicycle, laptop)
Achizitii de valoare mica (telefon mobil, Bicicleta, laptop)
Decision No. 7 - Investments – What do we know to invest in? What are the investements that return money? In order to familiarize ourselves with and to master these aspects, investment education is necessary. Some useful fields would be: Real Estate, shares or the capital market.
Decision No. 58– Education. This creates relationships, networking, connections (1) and behavior (2).
This free seminar is followed by a workshop, that will take place on March 20th in Cluj-Napoca. You can subscribe here: http://www.burcash.ro/