Many people have the unfortunate experience of having an income that is not keeping up with the cost of living. While just having a job can feel like an accomplishment in a tough economy, not having the money you need to cover expenses is stressful and makes it difficult to enjoy even small pleasures. It is hard to look around and see others taking great vacations and driving the latest model cars, but if you can redefine what it means to be successful, you can enjoy the things you crave as well.
Let’s explore the meaning of money. In the context of personal growth, money is more than a means of currency and being able to balance your check book. Your relationship to money reflects your ability to function in society, your openness to pleasure and abundance, your reality check.
Money also mirrors the quality of your interaction with other people and your ability to give and receive. Money represents survival, security, safety, shelter, food, family and livlihood. Money forms the foundation on which to build our lives.
It might also be surprising to realize just how much time, thought and attention revolves around money – paying the bills, balancing our accounts, discussing the costs of purchases and making life decisions.
Getting your finances in order allows you to direct money towards trips, buying a home, or follow another interest. When the time comes, you can enjoy yourself, knowing that you are not putting yourself in a precarious financial situation by doing what you enjoy.
Am I Financially Secure?
If you find you need to put everyday expenses on credit cards, you know you are in over your head. The need to live off your credit card as it gets close to payday, even if you pay your card off in full each month, is an early warning sign that your financial health is not where it needs to be. For those with existing credit card debt, the challenge of paying off that expense while still meeting your day-to-day costs can be even more challenging. You may find yourself in a cycle of running short each month, so any progress you make on paying down your debt is lost when you need to use your cards to cover you until your next paycheck.
Break the Cycle
You need to change your approach to debt if you hope to pay it off. Instead of doing the same thing each month, revamp your budget and spending habits so you can make real change. While cutting expenses in some areas can be tough, there are many changes you can make that are painless and effective. If you have student loan debt, look at your refinancing options. When you refinance, your existing balance is paid off, and you take out a new loan through a private lender. This simple action can free up hundreds each month. You can use this money to better balance your budget or tackle existing debt.
Reward Yourself
Life is all about balance. If you throw yourself into aggressively paying off your debt, you may find that after a certain period you end up revolting. Slashing spending to the point where there is no room for the occasional treat is a recipe for failure. Instead, make room in your budget for the occasional treat. One way to treat yourself without adding too much to your budget is by taking up an inexpensive hobby. Crafting, hiking, or gardening are all hobbies you can do inexpensively. A hobby that allows you to express your creativity reduces stress and gives you something to look forward to, which makes it easier to stay on budget. Without these things, you are more likely to make impulse purchases because you are bored, tired, or unhappy with your job.
Give Back
When your budget is tight, you may not feel comfortable donating money, but contributing to charities that you believe in provides many emotional benefits. If you don’t have extra money, consider donating your time. Even one afternoon a month is enough to feel like you are contributing to a cause you believe in and are a part of something bigger than yourself.
Managing money does not depend upon becoming wealthy or declaring vows of poverty. Rather, it is about creating stabilitiy and sufficiency – a balanced flow of monetary energy throughout your life. This kind of financial management liberates you from survival issues, so that money concerns no longer occupy your mind or monopolize all of your attention. When in better control of your financial situation, when money flows in, you are able to better process where it is needed and make wiser decisions.
Your beliefs about money are the key determinant of your level of financial stability. Some who make a lot of money spend it too quickly and those that make less might be able to save more. It is all in our “attitude” towards money that matters. And, when you become more in control of your financial situation, rather than it controlling you, you are able to free your mind and focus more on other things that create further life happiness.
By clarifying your goals and using your innate gifts, you can make good money doing what you enjoy. Becoming debt-free and using money wisely, you increase the material and spiritual wealth, within your world.
