Money Woes


Have you ever considered the fact that thinking too much about money can make you worse with money?  The way it works is you tend to obsess over the need of money and  all the things that you need cash for.  Next what happens is the issue that you have, i.e needing funds begins to appear bigger in your eyes.  Then instead of something that you could reasonably address it looks as if it is this insurmountable obstacle that cannot be tackled.

Three of the main areas that people get caught up with in terms of money are making it, spending it, and saving it.  If you look at your income as not being sufficient to cover your expenses then thats exactly what it will be.  Receiving a raise or additional streams of revenue are not even guaranteed to change that either.  Some people have an issue with spending where it seems like everything they get is going out.  If you do not monitor your spending it means one day you will be in for a rude awakening.  The number of people who live at or above their means and do not know it is mind boggling.  Some people view savings as this giant obstacle thinking they have to put away some extremely high amounts to be successful.  Fact of the matter is some savings beat no savings.

One of the best things you can do when it comes to money is to take an objective look.  After all it is your financial situation, so you have a vested interest.  The problem is that the vested interest you have does not always insure that you are doing whats in your best interest.  The greatest thing that any individual can do when it comes to money is to change the way they view money.  By changing how you view money eventually you will also be able to change your behaviors with money.

Once you become an adult there is a lot you are expected to know in terms of managing your finances.  You are expected to have credit or better yet good credit.  Bills are expected to be paid on time.  There is an expectation that you should be good with money.  There are certain accounts that you should know what they are and have in your name; accounts like checking, savings, and retirement accounts.

At some point you come to the realization that money in fact does not grow on trees and you must work for every dollar you get.  Just as you saved every little bit of money as a kid to buy things, so must you do in adulthood.  Things tend to happen where you need to use cash that you had not planned on, which means you must set stuff aside for a rainy day.  At some point in the future you will be expected to live for the rest of your life off of what you were able to accumulate.  With so many things to learn about managing personal finances, lots of adults just have to pick things up as they go.  

It is often said by people that if I knew then what I know now, that they would be so much better off.  So it got me to thinking about what would have been beneficial to me as a youngster in terms of learning about finances.  Below are a list of some of the things that stood out.

Cash is king.  Having cash gives you a certain amount of flexibility, and even allows you to get certain discounts.

Having no debt is a good thing.  Having no debt and no cash is a bad thing.

Planning for retirement and putting away funds should be done as soon as possible.

Saving money is a must.  The best thing to do is automate savings so that way you do not have to worry about setting funds aside.

Its best to start learning about investing early on, that way you have more time to benefit from success or recover from lossess.

Credit can be a great tool if used wisely.

Money is also a tool and must work for you.