So all of us need money to live. I know, I know some of you may be extremely shocked to find this new discovery out, but it’s true. You probably have met many people that always bring up money or maybe you have a really close friend that you feel comfortable talking about money in certain situations. You see growing up, I thought money was evil. My parents always used words such as “We can’t buy that, or we don’t have the money.” Growing up, my parents never spoke to me about money, I had to learn it on my own which I am extremely grateful for. My shift around money started when I was in high school and began reading books on personal finance, investing, and real estate. I opened up my first brokerage account and began investing at age 19. Even though I opened it with my uncle who’s a stock broker, it still felt pretty cool to start investing and learning about the market. I soon realized that money is actually a very powerful thing as many of you know. But, at the end of the day it’s energy and it is a tool that gets us to where we want to go. Money gives us options and accessibility to events and places, and if we didn’t have it we may not have gotten where we are sitting today.
I don’t want to get into the whole discussion of, “Does money make you happy, I’ll save that for another article.” But, what I have realized thus far at age 25 is that money gives me options to spend money on the things that make me happy. When I was younger I used to think that material stuff would make me happy, but it really doesn’t. It gives you this quick spurt of happiness when you first get it, but then it will wear off. Don’t get me wrong, having nice things is okay, but don’t buy something to impress someone else. That will just lead to misery and unhappiness.
I am a big saver and I always have been. I tend to ask myself the question: “Is it a liability or an asset?” Will this make me money, or will I have to pay for it (like a car) which is a sunk cost unless you’re buying a rare Shelby Cobra that increases in value. Cars are sunk costs though, the minute you start driving them off the lot, the value goes down. In my case I drive a lot for work, so the car I have doesn’t really matter to me. As long as it is safe and reliable I am happy. This is just one example, but there are many more.
Our relationship with money is in direct correlation with how we feel about ourselves. If you have a nice chunk of savings or investments built up you’ll probably feel good about yourself right? It might not make you happy, but you get a sense of security which is important in case anything were to happen at your job or whatever you may be doing. If one day you want to acquire a certain amount of money, but deep down you don’t think you can do it or how you can do it, then you probably won’t achieve it. Not to be blunt, but having a strong self awareness and feeling deserving of money will only get you closer to your financial goals.
Ask yourself this question. When I think of money, how does it make me feel and what emotions and feelings does it bring up?
-Will