Money plays an important role in our everyday lives and we need to cultivate a healthy relationship with it. The way you think about money directly affects what you do with it and how your finances look. If you constantly fixate on not having enough of it, you’ll probably be uncreative in your budget with limited funds left over for saving. Everyone has an opinion of money. What is yours?
Here are 4 ways you should be thinking about money that might solve your current financial disarray.
1. Money is an instrument not just something you earn.
If you only think of money as something you earn and exchange for the things you enjoy or need, it will reflect so in your spending and saving habits. However, the moment you start thinking of money as an instrument to reaching goals you will be able to make more informed financial choices and be able to achieve more with whatever little you earn.
2. You control money, not it you.
Modern society would like us to believe that we are what we own. It is why so many households take out heaps of debt in order to maintain a certain type of lifestyle they simply cannot afford. Stay in control of money by living within your means and not falling victim to this social lie that has left many over-indebted.
3. Being “cheap” is not a bad thing.
Being cheap or stingy has gained itself a bad reputation because it is often associated with someone trying to save at the cost of others. You probably know a few people like that. However, there is another kind of “stingy” where you chase down bargains, claim discounts and try and negotiate a better deal. Every little saving helps so don’t be shy to fight for it.
4. Waste, however, is a very bad thing
We live in a country where 42 million cubic metres of general waste are generated each and every year. It is easy to throw things in the trash without thinking twice about it. Yet, we forget that if you planned better we could have perhaps still have eaten the leftovers or made a salad with those rotten tomatoes. Waste is not just easily generated when it comes to food but also with other items in our house like electricity, water, clothes, paper, electronics etc. Wasting things directly translates into wasting money and it is essential to make it a cringe factor in your life.
If your relationship with money has already spiralled out of control and you find yourself deep in debt, give Debt Rescue a call. One of our debt counsellors will help you take back control of your finances.