People mistakenly think ‘money is the root of all evil.‘ They’re wrong and you can look it up. It is the ‘pursuit’ of money that is the root of all evil, having money is actually the root of some very good things.
Money is a multiplier: if you are a drinker – you will drink better and more often, if you are a gambler – you will place bigger bets and suffer bigger losses, if you are a saver – you will have a larger savings account, if you are an investor – you will have a larger portfolio, if you make decisions that promote your well being and happiness – you will be happier and better off.
Money is great. Aside from health and love, money probably has the biggest impact on your emotional and physical well being. Money is a means to shelter, to food, to clothing, to education, and often to opportunity. Incredible peace of mind is achieved by having ‘enough’ money. How much is ‘enough?‘ Good question.
There are two sides to the money equation: money in and money out. You have much more control over the ‘money out’ side of the equation and you should exert full control.
Whether you have a job that requires you wear a name tag, own a business or have a trust fund the amount of money you receive as income is not totally in your control. So much depends on the stock market, the economy, the business climate, your customers and most likely, your boss. To say your income is predictable might be assuming more than you should. Consider taxes, illness, emergencies and disasters and suddenly there is a lot of variance in the ‘money-in’ side of the equation.
You do control how much you spend on everything including; rent, food, clothing, education and entertainment. The key to a good relationship with money is spending less than you make or managing the ‘money-out’ side of the equation.
The first rule of money is: Save Some. (Having money is good.)
The second rule of money is: Share Some (Charity is money done good.)
The third rule of money is: Spend Some (All save and no spend makes Jack a dull boy.)
The unspoken rule about money is: Don’t Talk About It. Don’t brag about how much you make and don’t whine about how little you make. Your money is your business, keep it that way.
Once you have some money you will understand that it was never how much money you had but rather how you managed it that made all the difference.