People who spent money on others were much happier than the people who spent money on themselves. The answer here is obvious once you have done personal growth, and can look in on this from the outside you will have clarity. After years of making money and saving money and spending money on myself, I realised that spending my time and efforts and money making other people very happy is much more fulfilling.

I invented The Wheel of Life to get balance and acknowledge that money is only one part of the equation in our life. What is the point of having money if we do not have our health? Time is more important than money because you can always get more money, but you cannot get more time. Time is a limited resource and we all have a limited amount of it, therefore, time is the most important resource that we have in the world. “How we spend our days is of course, how we spend our lives.” If you do it right, then money can give you more time. Trading time for money has always been a poor side of the equation to be on because time is more valuable than money. Once you have passive income, then money buys you more time.

Since time is such a precious resource and prosperity in life it comes in many shapes and forms, I started to sit down and work out what was really important in my life. I came up with the seven areas of life. I wanted the least amount of effort with the greatest amount of impact. These are the areas that are important in everyone’s life.

The reason I chose a wheel is because for a wheel to work properly it needs to be balanced. If it is not balanced, it will not work properly. An unbalanced wheel is fine when you are going slowly, but if you are going fast then it is going to wobble and eventually break.

If you work on just the money side of things and do not worry about any other areas – for example, your health – then your health goes downhill, then you are not going to go very far. This is the same for your relationships, self-development, spirituality, business/career, fun and adventure.

This is an excerpt from my Amazon bestselling book entitled “Freedom Through Property”.