Up till now, many of us are yet to
understand what our problem is, with
respect to financial freedom. We have
always believed that our current income
level is too small to achieve what we want
to achieve in life. And so we are constantly
waiting for that time when we will begin to
earn double or thrice of what we currently
earn.
If eventually that time does not come,
then we are finished because the time may
no longer be there to move ahead, either
that we are near to retirement or almost
out of paid job or something else. This
believes are what financial experts call
“lack of vision” because in the same
position so many other people achieved
their targets and even greater goals.
MoneyNing experts say one of the most
common financial pitfalls out there is
having a poor money attitude. And among
the worst money attitudes is the idea that
all you need is more money, and that once
you have it, your financial problems will
be solved.
They said “the harsh reality is that, while
making more money can help your
situation, chances are that it’s not truly a
money earning problem you have; it’s a
money management problem.”
How do you manage your financial
resources?
There are some situations in which a lack
of money really is the issue. If you’ve lost
your job, or had a major and unexpected
financial catastrophe, more income will
really help. If you already have a steady
income, however, your problem might not
be that you aren’t “rich.” It might be that
you’re not managing your finances as well
as you could.
It doesn’t matter how much money you
have if you don’t manage your resources
so that you’re living within your means. If
you don’t live within your means now,
chances are that you wouldn’t live within
your means if you had more money. More
money is likely to just mean that you
experience lifestyle inflation, which also
means that you’ll still be in debt.
Think of all those wealthy athletes and
other celebrities who end up going broke.
Their problem isn’t that they don’t have a
lot of money. It’s a management issue.
Before you can solve your financial
problems, you need to look at your money
habits, and the way you manage your
financial resources. Until you start
employing sound financial management
principles, you’ll always have money
problems — no matter how much you
make.
Take charge of your finances
One of the biggest problems with the
“more money will solve my financial
problems” mindset is that it encourages
you to hand over your financial destiny.
When you say that you need more money
in order to fix your situation, you’re
relying on outside forces.
You essentially choose to make yourself
impotent in your own financial destiny.
Instead of taking charge, you’re waiting for
something else to come and “save” you,
whether it’s getting a raise or promotion,
winning the lottery, or receiving an
inheritance.
The idea that more money will solve all
your problems is a very passive mindset.
Instead, if you really want to tackle the
root of your financial difficulties, you need
to change your mindset to one that is
more active. Recognize that you need to
make changes in the way you view your
situation and the way you think about
money. Reflect upon what actions you can
take to improve your financial lot in life.
Even if you’ve experienced an unavoidable
financial setback, it’s possible for you to
take charge of your situation and move
forward. Think creatively about how you
could earn more money. Think about how
you could work smarter, as well as harder,
and how you could put your money to
work for you.
Recognize that you can make a change.
You don’t need to wait around for
someone else to grant you a higher
income. You are in charge of your own
financial future.