Some people spend and some people save. Why is that? Our attitudes and thinking about money determine our spending habits. Changing the way you spend requires an attitude adjustment.
How do you view money? We learn from an early age about money. We watch our parents and how they handle the money that they make. Some may have had very little because Mom and Dad were low wage earners. Some had a lot of money because Mom and Dad had good jobs.
Whatever your environment, your money views were probably shaped by the people around you. Unhealthy views of money begin here. If money was a bone of contention in your home, you will likely make every effort to avoid confrontation when it comes to money. That could lead to overspending becoming a hush-hush topic in the home.
If money flowed freely, then you could become a free spender as an adult. Even if your means are more limited than your parents’, you may continue to spend as if you had a million dollars. This type of money attitude can lead to a debt burden too big for you to carry.
Many scenarios can be drawn from childhood exposure to money. Remember Ebenezer Scrooge? He grew up with no money and it consumed him. During his adult life he shunned all other pleasures for the love of money. No one wants to end up like that.
Change your attitude towards money. Having the desire to do so is the first step. It is not an easy process, but if you are determined to learn how to do it, you have a fighting chance.
Visit with a financial advisor. Talk to them about your money woes and your views about money. Tell them what you want to accomplish with your money. A financial advisor can take your money and other assets and create a portfolio for you. The portfolio includes how to invest and what to invest in.
A financial advisor may be able to help with a budget. For frugal spenders, a budget can set aside money for one’s enjoyment each month. A frugal person may not take more than one day of freedom, but it is a start. As time goes on, they will relax the reins and learn to enjoy money now and in the future.
A big spender will use a budget to curb spending. It is okay to spend, but make it special and not an everyday occurrence. Money doesn’t always flow freely unless we plan for it to do so. That requires a spender to realize that it is okay not to spend it all at once, but to save some for later.
What is your money attitude? Is it helping or hurting you? To improve your life, why not talk to a financial expert about healthy changes to your money attitude.
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