How do you handle money? I'm not talking about how you manage your finances, but specifically how you take care of the dollars and change in your possession. The way you treat your cash may very well reflect your feelings toward money.
If you're hurting financially, or if you'd like to become a money magnet and attract more wealth to you, changing the way you handle your money could be a powerful first step toward changing your mindset about money and attracting all the wealth you desire.
Let's look at a few different ways people store, use and think about money, and the stories this behavior tells. Find the statement that best describes you, and read on to see how you can give yourself a money makeover.
Trait #1. “I'm very careless with money. My cash is crumpled up in every pocket or tossed haphazardly in my purse. I often think I may have exact change for a purchase, but I can't find it!”The Story Your Money Tells: This laissez-faire attitude toward money might mean a number of things. You could be ashamed of wealth and trying to hide your money. Wanting money to buy nice things, take care of your family and provide a sense of financial security is nothing to be ashamed of -- and neither is having cash in your pocket. Money isn't the root of all evil. It's the “pursuit of money” that's considered bad, but the verse is often misquoted. In fact, the pursuit of money isn't evil, either, unless you're forsaking everything else that's important or hurting others in your pursuit.
Treating your money haphazardly might also mean that money really isn't all that important to you. If that's the case, ask yourself if you're making enough money right now. If you can answer yes, you're fine. But you could still save yourself time and stress by keeping your cash organized a bit better. Or stop carrying cash altogether and use your debit card instead to simplify your life.
If you aren't happy with the money you're making now, recognize that income does have an important place in your life and take the first step toward attracing more money toward you by treating your cash with more care.
Money Relationship Makeover Tip: If treating money carelessly is your problem, start by getting organized with the right storage solution. (See? It really is just like organizing your house.) Splurge on a wallet or wristlet that you really love, with room to sort and store all your cash, credit cards, photos, ID and anything else important to you.
Start a change jar and get in the habit of emptying your pockets or change purse every night before you get loaded down with loose change.
If you find keeping all your bills and coins sorted is still a chore, get a good debit card or rewards credit card and skip the cash. What money represents because of what it can buy is important, but in today's society, cash is less significant.
Trait #2: “I'm a bit of a money 'show-off.' I always carry at least one hundred dollar bill wrapped around my smaller denominations... and I hold it all in a gold money clip.”This might mean that you treat your cash as an extension of your self worth ... the appearance of having money means a lot to you and makes you feel better about yourself. This isn't a problem unless you're doing it to hide feelings of insecurity or low self-esteem.
Money Relationship Makeover Tip: I'm a big proponent of using small things to make us “feel” wealthy in order to capture the mindset of wealth and become a money magnet. If a money clip or a designer wallet do it for you, there's no reason to change the way you carry your cash. But don't be afraid to spend the hundred, either, if you need it. Remember, the only reason money is important is because of what it can buy, and true wealth is a mindset.
Trait #3: “I don't carry cash at all.”Many people don't carry cash and instead, use a rewards credit card for every purchase. This is convenient for a number of reasons, including warranties on products purchased on a credit card, a written record of all your spending in your credit card statements, and less risk if you lose it. Just make sure you're not using a credit card when you don't have cash to back it up, or that you're not in avoidance of your financial situation.
Money Relationship Makeover Tip: How's your self-discipline with that plastic? If you find yourself losing track of your spending, it's time to freeze those cards (literally, place them in the freezer to keep from using them) and budget better. On payday, take out all the money you'll need for the week. Then, make separate envelopes (red envelopes are considered lucky in Feng Shui) for each expense: groceries, gas, lunches, entertainment, kids' lunches and school trips, etc. Transfer anything that's left into a savings account. When the money in that envelope is gone, it's gone. You can make the decision to roll over extra cash toward the next week or bank it in savings.
Trait #4: “I just love money and love carrying tons of it. Problem is, it vanishes quickly.”Deep down, you have the same problem as the “show-off.” But you're more care-free with your spending, just like a credit card spender. First, remember that your cash is not an extension of you. It's just a tool that lets you obtain what you need and want. Whether you carry a little or a lot, it's important to stick to a budget.
Money Relationship Makeover Tip: The envelope trick can work for you, too. Plus, you get to carry all that cash, neatly organized and, at the end of the week, you'll know exactly where it went. You may even have a little bit left over.
Trait #5: “I carry just enough money to cover my cash spending for the week, with a little left over.”You have a healthy, practical relationship with money. You view it as a tool to buy everything you need and want, but you don't place any significance on the physical dollars and cents in your wallet -- that would be like having emotional attachment to a hammer.
Money Relationship Makeover Tip: If you're not yet a money magnet, you have the makings of one. It's time to shift your mindset to one of wealth and begin attracting everything you desire in life. Don't be afraid to dream big; the only limit to your income is in your mind.
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