I’ve been reflecting a lot this week, surprise surprise! As more friends ask me for financial advice related to how to budget and where to save in their budget, I’ve come to see there are three values that seem to work when it comes to finances: balance, priorities and acceptance.
Acceptance: We all have to accept we only have so much income, yes you could spend hours a day chasing extra money through online surveys, blogging for money, selling things etc. But you also lose something when you do that, time. You have to choose what is most precious to you, what your priority is, and then accept the financial limits that you have and make them work for you! It doesn’t mean that you can’t pick up extra shifts or look for a promotion, simply there does at some point have to be acceptance.
Priorities: We have to define what is a priority for us. For me, financially a large priority for me is to remember my money is not my own, it is God’s so I need to do honoring things with it. Do I need some level of financial stability in the form of an emergency fund? Of course, but apart from that and paying into my pension, I have other priorities like saving to adopt, sponsoring children, giving money to those in need and using what I have in a purposeful way. So perhaps ask yourself with the money you do have what are your key priorities?
Balance: Life is a balance, there are very few hard & fast rules about what is the right choice with where to spend your money. One of my closest friends is a Brit who lives in the USA, she misses home terribly, so for her purchasing BBC America on her tv allows her to feel a connection to home. They cut back on other things, for example they don’t have a cell phone/mobile and they eat out one less time per month in order to make that choice. Some people think if you are frugal you shouldn’t have pets, and while pet’s can be a huge financial undertaking for some people, like myself, they bring exceptional joy. Do I have to accept in this stage of my life I can’t own all 7 dogs and 7 cats I’d love? Yes!
So yes, a few days of quiet reflection and I have three words – balance, priorities and acceptance!
Perfectly said! Those three words reflect how I attempt to shape my life. It can be difficult to accept, to make sure you prioritize, and to keep a healthy balance in your life, but it is so satisfying. I hope to “use my money in a purposefuol way.” I hate it when I fritter it away on little things that don’t really mean anything to me.
By: thisthriftedlife on November 20, 2009
at 8:11 am
Great post. I would much rather pay careful attention to the money that we spend so that we make sure we spend it on what is actually important to us. I has also helped me to make a list of short and long term goals, tangible and intangible, so that when something comes along, if it doesn’t go along with our goals, the money doesn’t get spent.
By: Jennifer on November 20, 2009
at 9:19 am
ah, I do agree with you. especially about the time thing.
By: mo on November 20, 2009
at 11:24 am
Managing your money is important and true to your point, you do not have to have a lot of it to live a financially successful life. We are to ready to spend for instant gratification instead of investing so that the fruit that our investing bears is delayed gratification without the pain of no money.
By: money muscle gym on November 21, 2009
at 12:28 am
What a wonderful post, I agree about having pets. I live a rather frugal life, happily sacrificing on some things so I keep my two beautiful dogs happy and healthy.
By: 5percentvision on December 7, 2009
at 10:39 pm