Is Your Relationship With Money an Issue For You?
Many of us have struggled at one point or another with money. Although we may sometimes feel that we simply do not have enough money, often the issue is not so much the amount of money that we have as the relationship that we have with money. Are you making sound financial decisions?
One of the best things you can do for yourself financially is to get in the habit of spending your money on all your necessary expenses first. Make sure you pay for those things that are truly necessary, such as your bills, car or house payments, etc., before you spend money on optional items.
It will be hard for you to spend money on frivolous things if you do not give yourself the opportunity to do so. If shopping malls are a trigger for you, then do not go to the mall! It may not be easy, but it is simple. Do not put yourself in situations where you are likely to make purchases you may later regret.
Whenever you are tempted to spend money on a non-essential item, make sure you know what your motivations are. Many of us go shopping or make impulse purchases when we feel angry or bored or sad; we can often try to make ourselves feel better by buying things. And this will work, but only temporarily, and then not only do we still have to deal with our original feelings, we also have to deal with the guilt we feel over spending money on something that we did not truly want or need.
Credit cards and debit cards can be very convenient methods of paying for items. They can, however, also make it easy to spend far more money than we realize. Try switching out your credit cards or your debit cards for cash, and you may find yourself spending less money as a result.
Avoid using a credit card if you possibly can. If you are always able to pay off your balance in full, then you likely are using your credit card appropriately. But if you struggle to pay it off, or are only making the monthly minimum payment, you will quickly find yourself spiraling into credit card debt, if you are not already there. You will likely only compound an already bad situation if you have multiple credit cards. It is far too easy to get in way over your head with it comes to credit cards, and with the high interest many cards have, especially if you make a late payment, it is simply not worth the risk. Avoid anything which will make it easier for you to temporarily live beyond your means; this is a dangerous place to be in.
Changing your attitude towards your finances can take some work and dedication, and old habits can often be challenging to break because they are so firmly rooted. But the peace of mind you will get is absolutely worth it. It’s priceless, in fact!