What money can do for you… Otherwise entitled “If you can hang onto it long enough!”
Gail Vaz Oxlade recently posted on Moneysense to her blog, a post titled “Your Money, Your Choices.” Straight forward, right? Absolutely! What we all do with our money is either our windfall or our downfall. Money haven or money pit.
What rang clear for me was this: “Think about what you want your money to do for you. Now answer this: What one thing are you going to change so you can get what you want? Once you’ve mastered that, do one more thing.”
I started considering that maybe money is another one of my fears. I am afraid to possess any of it. Once I start saving it, it is difficult for me to stay focused on the prize at the finish line and I end up spending it ahead of time. I work hard for my money like most of us do, and then what do I do with it? I overspend and get myself into debt. I am beginning to feel like the European Union in a debt crisis. I cannot get too down on myself though, as I am making the right changes to get out of debt. I just need to make sure I stay the course, and once and for all get myself out of debt for more than a year at a time. It’s crazy to think that it has been about 15 years since I have been debt free. I have always either had a car to pay for, mortgage, line of credit, or some other bills.
What one thing am I going to change? I am going to focus! No more Starbucks on a daily basis, no more wasteful clothing buys – only buy what I need not what I want.
I will also add this to my 30 day Fear Project for next month: My fear of money and overcoming it.
Another common sense point and friendly reminder from Gail:
“If you want to be smart with your money you must first look at what you have been doing with it. Where have you been spending? How have you been saving? Is it working for you?”
I must admit that I regularly take blame for my shortcomings. I know when I’m spending my money unwisely. I always know what I’m doing with my money, although it’s always disappointing once I take stock of my silly spending (the $75 at Starbucks last month for instance). For the most part, things are starting to work. I’ve been saving regularly to both a savings fund and my RRSP and keeping track of all my spending.
I believe that these occasional spending shortfalls will come to an end once I get these fears of mine under control. I need to remember that nothing I buy will bring me long term happiness or be able to buy friendship. You cannot buy people, you have to be yourself and hope they accept you the way you are. I need to remember my long term goals whenever I want to spend my money on something silly, or on more clothes that will impress neither myself or anyone else. I need to learn to be happy with what I have and who I am. We are all unique, and it is our uniqueness that makes this world an interesting and lively place!
The next time you consider spending your hard earned money on something silly, consider this:
He who is not contented with what he has, would not be contented with what he would like to have.