Everything You Need To Know
- Money is for using. Three uses: Spending, Giving, Investing to use later.
- Don’t miss out.
- Missing out on Experiences – Travel, Social Events
- Health and Well-being – Fitness, Wellbeing
- Personal Development – Education and Skills, Hobbies and Interests
- Quality of Life – Home Comforts, Leisure Activities
- Relationships – Gifts and Celebrations, Family Time
- Memories – Once-In-A-Livetime Events
- This is not easy. We are wired by our upbringing and our experience to approach money the way we do.
Everything You Need To Do
- Set clear goals. Nothing happens by accident – we need to be intentional.
- Create a budget. Track income and expenses to see where our money is going now and determine if that aligns with our priorities.
- Automate but review regularly. Pay into savings and investments on the day after you get paid. Automate as many bill payments as you can.
- Spend mindfully and invest in experiences. Evaluate Purchases, Delay Gratification, Quality over Quantity, Social and Recreational Activities.
- Prioritise today. Given a choice – today comes first – simple as that. Tomorrow is not promised to us. It might never come.
The post Big Mistakes: Not Spending Enough appeared first on Meaningful Money – Making sense of Money with Pete Matthew | Financial FAQ.
* This article was originally published here
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