The importance of money cannot be denied. It enables us to attain the needs, wants, and luxuries of life. But with the current condition of our economies and depictions of the human psyche in the news, I see evidence that sometimes it just goes too far. There are people sitting on billions of dollars and others who cannot guarantee the next meal for their family. I am setting out to solve the world’s problems or telling you to donate everything you own to feel like a good person. I don’t believe that thinking about money is shallow or greedy. It is the reality that we need money to survive and having more can make one better off materially.
The goal isn’t more money. The goal is living life on your terms. – Chris Brogan
I want to propose that, as individuals, each of us needs to build a healthy relationship with money and recognize it as the means to an end and not the end in itself. Personally, I want to have a sustainable, not-so-extravagant lifestyle, and I do not want to spend day and night just building my bank balance, stock up on material possessions, or desperately wait for two weeks of vacation.
Whatever you do to earn money, do it with integrity and enjoy it too. When spending it, make it work for you and seek to add value and happiness to your life consciously. This is not easy when media is constantly pushing ideas on you about all the things you cannot live without.
The essential components of any sound financial plan are:
- realizing and tapping into your full earning potential (ethically, of course)
- understand and differentiate between needs, wants, and influences
- financial tools and rules that are growing your money or eating into it
- strategies for effective saving and investment
- using your money to get the best value and satisfaction