Wednesday, May 11, 2011
Learn a Good Money Attitude
Learn a Good Money Attitude
(The Need to Have a Great Financial Future)
By A. Hamid Adeniyi Otule
It is unfortunate that most people rarely understand or know the essence or importance of having a brighter financial future because they know nothing about investing/investment and business. Most of them seek job security instead of financial freedom. The way and manner you handle is quite important than the way you get it. I must sincerely inform you that if you have money problems five years from now, then you need to understand what you are reading now.
Without wasting much of your precious time, what is Money Attitude? We all have attitude towards everything in life be it religion, education, fashion, sports, entertainments, politics and so on. Which means that Money Attitude comes from your believe about money; like asking yourself what does money mean to me? What does it represent? How do you feel about it? How much does money influence your non-financial decisions? For whatever believe or attitude we have towards money, the most important thing is that Money Attitude is learned behaviour i.e. how perceive money depends heavily on your childhood and the environment you grew up in. as I have said earlier, just as Money Attitude is a learned behaviour, it can also be unlearned. It is important for you to have a good money understanding of money. Have you ever taken time to analyze your emotions i.e. your desire and greed, if not it’s high time we got a better understanding about money.
Furthermore, for the purpose of the article, I will show you the different opinions people have about money. As you read the description try to honestly determine what describes you.
The first group of people are those who say they don’t care about money, they just like to earn enough money, spend it and less concerned on how much they have left. For those of you who don’t care about money, you are likely to manage your money poorly. People of this category often usually incure debt in order to afford whatever they want. The salary earners fall in this category. Despite the fact that many of them earn a very respectable wage, they are less concerned about savings and investments for the future.
Another category of people are those who regard as evil or bad. Sometimes they think the whole world would be much better place if money hadn’t exists. They regard people who have money as ‘fat cats’, ‘greedy pigs’, or being filthy rich. In a real sense they view rich or wealthy people in a negative light. Well they tend to have enough money to get by from day to day activities usually do not have money accumulated. For those people, they are likely to earn low wage and spend it as soon as they get it. They fall under the lower of people in the society.
Another group I like to mention here is the people who see money as everything in life and they tend to work very hard to get as much as they can either by the rightful means or otherwise. Some of them never came about their life, health as long as they are able to accumulate more money as they can. The people in this category earn a lot, spend more and still have left in their bank account.
The fourth people are those who recognize the value and importance of money but do not let it negatively affect their lives the way it does affect some people. They know how to manage their money wisely and are happier being who they are. You wouldn’t know it because they are like everyone else. For those who fall under this category, overall the set of people in this category usually make up class of the society.
Have heard about the ‘scrooge’? Well they hold onto their money very tightly, and try to minimize as much as possible. Like other Money Attitude, these people see money as being extremely important in life. They may not have lots of money, but they are good managers. They are characterized by the ability to budget their income properly, which is usually done by purchasing second hand items, although you will also find some wealthy people in this category.
‘The Saints’: see money as a gift which can be shared with other people. As a result of this, they will give large percentage of their income to other people inform charity. Usually, they are very religious and followership of spiritual teachings. Since the Saint give a certain part of their money, they will manage what they have left. They also tend to be reasonable savers. They are usually in the middle class and upper class of the society. You have few wealthy saints like Bill Gates, Warren Buffet whose vast wealth allow them to donate large sums of their money to the course of charity and humanity.
In conclusion, whatever your attitude about money is. It is very important to realize that you have a Money Attitude and that attitude affect how much you earn, spend and keep. If your attitude towards money is negative, it means you are likely to struggle financially and vice-versa.
Are your attitudes towards money helping you or harming you? And if you don’t change that attitude, how will it affect your future?
In today’s economic climate, these questions are more important than ever, so don’t skip over them.
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I wish you best of luck.