How to Make Money Your Slave
“Mo money, mo problems!" This phrase defined my reality in my teen and young adult years. My struggle with money stemmed from poor examples of money-handling in culture, family, and friends. It seemed like everyone was always talking about money and how to get more. From my experience, it seems like we all can relate to the phrase, "Mo money, mo problems!”
The reason you opened this post is probably because you can relate to being a slave to money. Always checking your account balance, hoping you don’t get any overdraft fees, worried about your money situation, and it’s likely affecting every area of your life.
Trust me, I’ve been there. I’ve been a slave to money. I’ve experienced intense anxiety attacks, acid-reflux, stomach pains, and headaches from the problems of money. It’s a horrible feeling to have and an even worse way to live.
A few years ago, I recognized some flaws in the way I viewed money and it has since changed my perspective of money. Rather than being a slave to money, I’ve become its master. And, oh boy, let me tell you: it’s fantastic! I never worry about money, and seldom think about it. Money doesn’t own me, and it never will again.
How’d I get there? A lot of thanks goes to Dave Ramsey for financial wisdom, but ultimately I became free from money by recognizing these simple truths:
You're more valuable than money
Obviously, we're more valuable than money, but we don’t often live this way. Recognizing money has less value than you can enable you to view money as inferior to you. You are the master, not it. Taking money off the pedestal gives you power over it, which is a necessary step to money-mastery.
Know where your money is going
Take a long hard look at your bank account or credit card statement. Where do you spend the most money? Knowing your spending habits can help you honestly assess where you’re letting your money run wild. It will also help you tame it, subdue it, and make it your slave.
Tell your money where to go
Let your money know who’s boss! If you need to save $200 for vacation, set aside that money and don’t touch it. It’s really important that you create a budget, and here’s why: it tells your money that you’re in charge, and it must obey you. Many people are afraid of budgeting, but it’s actually a really simple and freeing discipline that will help you immensely with your money issues. Tell every dollar of your income where to go, and why.
Set up accountability
Since being married, my wife and I have had tremendous financial success simply because we have each other. Whether you’re single, dating, or married, find someone to keep you accountable with your money. This may mean sharing your monthly budget with a friend or significant other. The more support you can surround yourself with, the better chance you’ll have in experiencing financial freedom!
Look at money often
Keeping yourself accountable is also a must. Look at your bank account and check your credit card balance frequently. This makes spending money hurt more, which means you’ll likely spend less. The more you see where your money is going, the less likely you’ll want it to leave.
They may sound simple, but these five truths can create a power-shift in your money-mastery dilemma. You don’t have to be a slave to money just because everyone else is. Live free! Be the master of your money. And you’ll find life is much more enjoyable when money is your slave rather than you being a slave to it.