Define Your Days
As you read my blog in hope of finding a better mindset for money, I would think you would consider my frequent reference to time a little annoying.
However, time is very important! It is one of your best tools, if used wisely. None of us know how much time we have to live. So, we should consider each day a blessing. I believe it is very important to value each day.
When we are young and our parents provide for our welfare, we have a poor view on the value of time, except for when we are to meet friends for a movie!
I will assume that you are reading this blog because money has taken on greater importance in your life. So, I would add that time is a tool you need to learn how to handle and work it to your advantage, surrounding your financial matters.
How do you define your days? Or do you?
Activities Have Value
A lot happens in your mind. Some thoughts are good, and some thoughts are bad. You have a better chance of reaching adulthood if you learn to manage those thoughts. Even better, I believe, you need to feed your mind good thoughts!
Making a habit of reading scripture and other good books that feed your mind positive and constructive ideas can make a huge difference in your life. You will learn to be more considerate (The Golden Rule), compassionate, and less selfish. So, make time for that. It will pay off in your relationships.
Stay In Control
Regarding your mindset for money, you need to make time for some administrative things to stay in control.
Watch your bank accounts. It is important to be aware of your account balances. Know how much money you have and you are less likely to overspend or over draw on your account.
Pay your bills on time. It will help your credit score and make you more aware of your expenses by making a list and scheduling the payments.
Plan ahead. Make sure you make enough income to cover paying yourself first and still pay your bills.
To do that better, make a real effort to build a budget to keep you conscious of how much you make, how much you spend, and when you can spend it. Also, schedule savings for the future!
Look Ahead, Plan Ahead
Unless you are in the habit of setting goals and reviewing them, periodically, you may have difficulty looking ahead or planning.
However, a good mindset for money requires you to look ahead. Set time aside to do just that. Daydream a little. Just because some hopes are dashed does not mean that all hopes will be!
Increments and Effort
Not everything in life is fun. Sometimes you just must do what needs to be done, like doing the dishes! (Or mowing the lawn on a hot day!)
With the right mindset, you will find your efforts (work) will become very fruitful over time.
Incremental is a difficult term for folks who were raised to get things done and living in a society influenced by ads promising “instant gratification”.
We like to get what we like when we want to get it!
However, that mindset will lead to problems, like overspending, spending too soon, and using up your savings for the future!
Take your time. Delay spending. Make a budget and learn to sacrifice a little satisfaction, or, at least, delay it some. Your savings, earned from incremental effort, will add up!
Big Numbers – Big Temptation
You will need a lot of money to live as long as you hope to. And, as you save for that time in your life, you will see your savings build into some very tempting values. They will begin to look like lotto winnings!
Stay calm. Travel will cost. Retirement offers time to travel. Healthcare may cost more than planned. Will you have enough? I hope you want to take care of yourself in order to live longer.
Please, avoid the temptation to use your retirement money, that will grow with compound earnings over time, to buy things that offer you fun for today.
Remember, there are wise choices and there are foolish choices. Learn the difference. You will not only learn to save for the future, but you will learn to make more time for the future!