Introduction:
Money is a touchy subject. It’s something we all need to survive, but it’s also something that affects us emotionally and mentally. It can feel like a double-edged sword sometimes: we need money for our lives to run smoothly, but if we don’t manage it well enough then it will ruin our lives. While there are plenty of ways that you can be frugal or save money, there are also many ways that people with money can waste theirs. Below are ten important things about managing your finances that may surprise you:
Money is the root of evil:
When Jesus says that “the love of money is the root of all evil,” he’s not talking about money itself. He’s talking about our relationship with money, and how it can lead us down a dangerous path.
Money isn’t intrinsically evil—it’s just an object that helps us exchange value with each other. But when we start idolizing it and its power over our lives, then things go south fast. We become greedy and forgetful of our true priorities in life because we’re so focused on what this tangible thing can afford us. In extreme cases, this obsessive behavior has been known to lead people into unethical practices like lying, stealing, and even murder (think Gordon Gekko from Wall Street).
You need money to make money:
We all know that money is a means to an end. It helps us achieve our goals, like buying a house or saving for retirement. But most of us don’t think about money as much as we should. This is because we’re too busy earning it (or not).
But here’s the thing: to earn more money, you need to invest in yourself and buy things that will help you do so—like books or classes at a trade school—which costs money! And while some people might be able to get by without spending any extra cash on their education or career advancement, most of us can’t do that right out of college when it comes time for our first job hunt.
The bottom line? You need money to make more money—so stop thinking of your wallet as an afterthought and start treating it with respect!
Being a millionaire is not worth it:
If you have the money, then yes, you can buy a lot of things. But no matter how much money you have, it won’t make your life better in any way.
Money won’t buy happiness. Don’t believe me? Try being a millionaire for a year and see if that does anything for your happiness level. It won’t! Hell, I bet most millionaires are just as miserable as everyone else. They may be able to afford more expensive things like trips or fancy dinners out but it doesn’t make them any happier than the next person who hasn’t been able to save up enough money yet to buy those things themselves.
Money won’t give people respect — respect is earned through hard work (or by being good at something). If someone respects you because they think they need what they perceive as power over others, then they don’t deserve your time anyway! And if someone doesn’t respect who YOU are and what YOU do/are doing with YOUR life right now then… well there ya go!!
The rich get richer and the poor get poorer:
This isn’t just a tired cliché, it’s also true. It may sound like your grandfather ranting about how kids these days don’t know how to work hard anymore, but in this case, he might be right (at least on some level). The reason why rich people stay rich is that they have more money to invest in businesses or real estate or whatever else makes them money—and it doesn’t stop there. When you’re rich, you have more time and skills to invest as well—and once again, that’s not all. One of your best assets when it comes to investing is access: access to investment opportunities that others don’t have because they aren’t wealthy enough yet or don’t know where to look for them.
High-ticket items can help you save money in the long run:
For example, say you want to buy a new TV. It costs $200 more than the one you were looking at and it’s not even that much better. But it will last longer and be on sale for years and years to come, so in the end, it saves you money because it lasts longer than a cheaper model would have. If you think about how much money you’ll spend replacing your TV every few years instead of just buying this more expensive one once, then it’s worth paying more upfront!
It’s worth thinking about how much time and effort you’re going to have to put into shopping around for cheaper models if they break or stop working after only a couple of months—and whether or not those extra hours are worth saving just $200 bucks on a big purchase like this one. You might find that an item has enough other benefits for your life (like being easier to use) that make all of its flaws seem worth enduring as well
Discounts aren’t always discounts:
We’ve all been there: You see a product you want, but it’s $100. You check out the price again and… it’s only $90? The exclamation point in your head should be flashing like a light bulb on top of a Christmas tree because that means MAJOR savings! It feels good to save money, doesn’t it? And when we’re saving money on what we need, that can be life-changing—especially if you use coupons at the grocery store or try to get great deals when shopping online. But what if I told you there are times when buying something just because it has been discounted isn’t saving money? That’s right—sometimes those shiny “discounts” aren’t as valuable as they seem.
Side hustles aren’t that easy to start or maintain:
Side hustles are a hot topic these days. People talk about side hustles like they’re magical money-making machines, but the reality is that side hustles take time and energy—and often lead to more work than you can handle on your current schedule. You can’t just think up an idea for a side hustle and start making money in your spare time. It takes planning, research, and persistence before you even reach the part where you’re earning money from it!
Getting started with a side hustle might mean having to take on extra responsibilities (like taking care of yourself), or even getting rid of some other responsibilities so that you have room in your schedule for this new venture. Most importantly though: If you want to make money from doing something besides working 9-5 every day, then be prepared for this new role as an entrepreneur!
Budgeting takes more than a budget spreadsheet:
The first thing you should know is that budgeting doesn’t happen in a spreadsheet. It’s an ongoing process of learning, adjusting, and changing your behaviors.
It takes discipline to stick with a budget. You have to be honest with yourself about how much money you’re making and spending and plan accordingly. You also have to be realistic about what you can spend when it comes to necessities like food and electricity—if your budget says $100/month for groceries but after paying rent there’s only enough for ramen noodles once a week (or worse), then something has to change!
This is where patience comes in: even if something goes wrong and there ends up being less money than expected at the end of each month (and there will always be unexpected expenses), try not to panic or make rash decisions about using credit cards because this will lead down an even more disastrous path eventually if ignored long enough (not only does credit card debt hurt more than just your wallet). The best way I’ve found so far is through tracking my spending habits over time so I can better predict future needs—for example, every six months we buy new tires because they wear out quickly with all our city driving; thus it makes sense not only because they’re needed but also saves us money by knowing exactly what size tire we need before going out shopping around town instead wasting time searching multiple stores until finding one which offers the best price on tires not sold by any other outlets locally too!
Practicing minimalism makes you happier and healthier:
Practicing minimalism is a practice that helps you focus on what matters, saves you money and time, and makes you more productive, less stressed, and happier.
It also helps you live a healthier lifestyle. You’re less likely to waste food since you’re only buying it for the week’s meals. When we get rid of stuff we don’t need or have no use for anymore (like clothes), it frees up space in our home which means more exercise room! If there’s no room to walk around in your house because everything is cluttered together, where will you do push-ups?
Minimalism gives us more time for creativity because there aren’t as many distractions around us when we’re trying to focus on writing an essay or painting something beautiful at home.”
Discipline is the key to success:
Success is a combination of hard work and discipline. Without discipline, you can’t achieve your goals. You have to be strict with yourself when it comes to saving money and making it, as well as spending it wisely. If you’re not disciplined in these areas, then you won’t be successful in the long run.
If you want more money, start by being disciplined about how much time and energy you spend on certain things—like watching TV or playing video games—and directing those resources towards earning more money instead.
Conclusion:
As we can see, money isn’t all it’s cracked up to be. It’s important to remember that our values are more important than the amount of money we have in our bank account. That being said, it’s also good to know that there are some things you can do with the hard-earned cash that will make it easier for you and your family in the future (like paying off debt).