Hierarchy of Financial Success

Success is everyone dreaming for. There are a lot of success in areas of our life. And for me Success is about fulfilling the needs of others especially if share our ideas and opinions for them to become successful. Successful companies and organizations generally do this by offering products or services that others desire.In financial success it is important Setting-up your financial goals is a very important step in financial management.However, you will find out soon enough that you will have more goals than resources. You will be lucky if your current resources will allow you to save for three goals at the same time. If this is the case, it is very important to prioritize your goals so that you can start saving for them systematically until each goal is realized.

One approach that you can take is to use the concept of Maslow’s Hierarchy of Needs. Abraham Maslow has set up a hierarchy of five levels of basic needs (Physiological, Safety, Social, Esteem, Self Actualization). Beyond these needs, higher levels of needs exist. These include needs for understanding, esthetic appreciation and purely spiritual needs. In the levels of the five basic needs, the person does not feel the second need until the demands of the first have been satisfied, nor the third until the second has been satisfied, and so on.

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