I spend a lot of time thinking about my money. I work a few different jobs, so I think a lot about how I earn it. I also think a lot about how I spend it. However, I think the most about how I want to save or invest it.
To quote perhaps a billion rap songs, “I got my mind on my money and my money on my mind.”
I’ve realized that, apart from the hip-hop community, no one else really seems to have their money on their mind. Oh sure, most people are happy to tell you they could use more money. But very few people have a thorough understanding of their own finances – what they earn, what they owe, and how to use their money in a beneficial way.
Money scares some people and overwhelms others. Many would rather avoid the topic of money than have a frank discussion – and I mean just with themselves.
Your Money Mindset Matters
They make the minimum payments on everything and pay their bills. Usually they’re on time and usually there’s enough in the bank. Sometimes people have to charge things to a credit card, take a loan out from a bank, or borrow from friends or family. Life is life though, right? Things happen.
When you don’t have a lot of money it can be hard to think about it as a tool. If you have a lot of debt, the same mindset can apply. You probably feel stressed out and saddened by your financial situation at times. This can make you want to avoid it so you don’t have to feel that way. It’s a vicious cycle that ends up actually hurting you in the long run.
This careless mindset is a financial killer. Behaving like your money is unimportant or is a burden is a major problem for you and anyone who depends on you. You can’t afford to not care about your finances in a very real and concrete way. You need to understand your spending and your earnings in detail. No one else will.
Why You Should Care About Your Finances
Think about it. You work probably 40 hours a week, possibly more, every week to bring home that paycheck. Workplace satisfaction is low in the US, so you probably don’t enjoy your job every second you’re working.
Throw in the time you spend commuting, the lunch breaks you take, and the time you spend working from home. Heck, add in the time you spend just thinking about your job. You’re working both literally and figuratively for whatever you earn. Why wouldn’t you prioritize the money you trade so much of your time and energy for?
What Caring About Your Finances Does For You
Caring about your money doesn’t make you lame or nerdy. It doesn’t mean you’re anal retentive or controlling. It doesn’t mean you’re a stick in the mud who can’t have fun.
What it means is you give a damn about how you spend your time. It means you care about what you’ve traded in return for that money. It means you want to see that money be worth it.
Caring about your money and your finances means you care enough about yourself to take care of yourself. Strangely enough, caring for oneself is a very hard thing to do. People will try and tear you down for it. People will make it hard to prioritize yourself. Yet that’s exactly what you should do. Prioritize yourself and what you want from your own life.
If your money and finances make you sad, I promise you I understand. I was buried in student loan debt this time last year. Every time I thought about how much money I owed, I felt sick and powerless. I thought I would never get out from under that pile of debt.
By focusing on my money, I was able to formulate a plan to begin paying down my debt. Once I acted on that plan and made my finances a priority in my life, I started to feel better. Now I’m debt free and building my personal wealth. Things will change if you change, but nothing will change if you just sit there and take no action.
Money makes the world go round. Anyone who doesn’t have money wants it, and anyone who does have money wants to hold onto it. So why shouldn’t you care about your finances? Why shouldn’t you put time and energy into caring about the very thing you’ve just spent both time and energy earning?
Take control of your finances today. Look at your spending habits. Create a budget. Start saving. Build an emergency account. Open up a retirement account. Care about your finances. Care about your money. Care about yourself.
Do you care enough about your finances? Why or why not? If you didn’t before, and do now, what made you change your mind?