Putting a Framework Around your $ Spending will Serve you Well

It is no wonder that people do not know how to use money responsibly. After all, money has no intrinsic value. But that is no excuse for us not to put value on our money.

Our mind works best when we can identify with that which we are thinking about or relating to. It is hard to do that with money as money can be used in so many ways and can mean so many things to it. When we do not take the time to understand the meaning of money to ourselves, it is easy for us to be pulled this way and that with money “opportunities.”

It is valuable to us to build purpose and meaning for our money. A framework around our money lets us make choices around that which we want to accomplish or express, and not be tossed about in the wind of money choices bombarding us daily.

Try this two-part exercise to note your response with money: Part 1: the next time you purchase groceries, use a credit  card and note your reaction to spending. You probably will not have much of a reaction as your card represents a promise to pay…later.  Follow that up with Part 2: Purchase groceries using cash. How did that make you feel? Note the difference you felt between the 2 mediums of exchange.

For most, using their credit card is more removed and less emotional while using cash usually produces feelings of doubt, loss, or withdrawal.

Have you ever seen someone eat too much? If not, you should. Why? Because it will teach you something about money. How do you stop? When you are full? When you have ingested enough for your body to efficiently use? How do you know when to stop eating? There are few boundaries to eating. It is the same with money. What stops you from spending? Put a framework around your money behaviors and habits. It will serve you well.

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