Don’t Let Money Confuse You

Money habits and behaviors have great impact: if you spend and don’t save; if you save but don’t invest, if you invest and can’t share; if you have money but can’t generate money all have their consequences. It may take some time to see the consequences, but they are there. Money issues eventually surface, most frequently when we are in a relationship with someone else and their habits and behaviors differ from yours.

  • If you spend and don’t save, you may find that you don’t have the resources you need for retirement, for medical tests or costs that insurance will not pay for. Strive to save 5% of your net income for that emergency saving. Determine your “zero,” a number you never fall below. Use 5% of your gross income as an initial “zero” if saving is difficult for you.
  • If you save but do not invest, you will find that inflation and taxes will eat away at your savings. Partner with a financial advisor who can help you learn about investing. Make 15-20% of your gross income, your investing objective. Define a purpose for your investment and develop an active relationship with your advisor.
  • If you invest but have not yet helped others with your financial generosity, you might be surprised at how good it feels to assist someone in need. Organizations and causes you believe in can use your generosity in ways that do make the world better. Individuals, down on their luck appreciate your helping hand at an extremely difficult time in their lives. Make 5-10% of your net income a goal for giving.  Find an organization that aligns with your passions and beliefs and enter a giving program with them.
  • If you give money, and do not yet understand the value of generating your own finances, start a project that you personally fund. Become an entrepreneur. You will learn a lot about business and yourself! Alternatively, develop skills that are marketable and search for an opportunity in a field of interest to you. Be creative and bold in your search for work.

Money rocks! Don’t let it confuse you.

 

Advertisements
Leave a comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: