Good Spending Habits
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Spending money simply means using the money to pay for services, personal amenities, entertainment, and other activities we enjoy. Spending money is good and healthy too. After all, money is meant for spending.
There is a saying often told "Money is the root of all evil." This saying is misquoted frim the holy book, The Bible. In Timothy 6:10 it states, 'For the love of money is the root of all evil.'
But is it?
We work for long hours. Put up with our demanding bosses. Get stuck in jobs we do not like but we cannot resign. Play the lottery. Trade shares. Enrol in inexpensive courses to get a promotion at work and carry out all sorts of money making hustles
We spend 6 to 7 days a week making money. Yet, we are supposed to turn our back from the 'fruits' of our labor. It's confusing, right?
But the point is, making money is good, saving it is a great idea and spending it consciously is absolutely the best idea.
Most people are extremely sold out to saving and investing, such that, they never get to enjoy their money in a way they would want. There is more to lufe than just saving for a rainy day.
However, most people have the habit of unconscious spending, and that is where the problem is. When you start spending out of pleasure to please others with money that you do not have, then, just know a big problem is coming your way.
This book covers
* What is your goal?
* Financial personalities
* Understanding A Good Spending Habit
*Having Power Over Purchases
*Needs and Wants
And much more.
'Keeping up with the Joneses's' is an old idiom referring to how we compare ourselves to those around us to determine a particular sicial status. Trying to keep up with everyone puts unnecessary pressure on you to be successful, impressive and wealthy, just like those around you semed to be.
Sadly, this pressure can easily influence you to spend more money than you have, to please others. You will also accumulate credit card debts and end up buying things you do not even care about. In the long run, keeping up with the Joneses will render you broke, unhappy, and eventually set back your financial goals.
It's important for you to understand that, in life, there will always be people who will live a better life than you and others who cannot afford as much as you (though their purchases might make you think otherwise.)
Your goal should be to become financially responsible today so that you can progressively increase your financial position in the future.
So, bow can you be true to yourself and avoid keeping up with everyone?
( ) Make choices that align with your values and goals in life.
( ) Spend on things that make you happy and not what everyone else is buying.
( ) Get better friends and surround yourself with people who inspire and support you and keep away from those who put unnecessary pressure on you.
( ) Learn to live within your means.