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Change What Money Makes You Feel

Apr 1, 2008
There are people that spend money and people that save money. What are the reasons for this? Our spending habits are determined by the way we think about money and our over all money attitudes. If you want to change the way you spend money, you must change your attitude about it.

How do you view money? We learn from an early age about money. We watch our parents and how they handle the money that they make. Some may have had very little because Mom and Dad were low wage earners. Some had a lot of money because Mom and Dad had good jobs.

Wherever you came from, the way you feel about money has probably come from those around you, including unhealthy views. If money was a sore topic in your home, you are likely to avoid discussing it. This could lead to bad havbits such as overspending, and money being even more taboo.

If money flowed freely, then you could become a free spender as an adult. Even if your means are more limited than your parents', you may continue to spend as if you had a million dollars. This type of money attitude can lead to a debt burden too big for you to carry.

Childhood stories about money can also mimic real life. For instance Ebenezer Scrooge- he grew up without money, and as an adult he was obsessed with it. He gave up all other pleasures- only his money was important to him. Who wants to end up living like that?

Change your attitude towards money. Having the desire to do so is the first step. It is not an easy process, but if you are determined to learn how to do it, you have a fighting chance.

Arrange a visit with a financial advisor to discuss your situation. Talk with your advisor about your view and any worries or concerns you have about money. Let them know your financial goals. A good financial advisor will take your finances and can create a portfolio for you, showing you how to invest and what to invest in.

Financial advisors may also be able to work with you to help design a budget. If you are tight spending money, a budget can help you set aside money for extras each month. Someone with a frugal attitude about money may not wish to set aside money for extras, but they can learn. Hopefully, they will learn to relax and to enjoy the rewards of money at some point in the future.

Big spenders should learn to use a budget to scale back their spending. Learn to spend for special occasions, and not excessively every day. Money won't continue to come in this way, unless we plan for it to continue. Spenders must realize that they need to learn to save money for later on in life.

What is your money attitude? Is it helping or hurting you? To improve your life, why not talk to a financial expert about healthy changes to your money attitude.
About the Author
Can debt settlement companies save you money on your debts? Get the inside scoop on the Debtopedia website at http://www.debtopedia.com where you can get a free copy of my report Secrets Of Credit Card Debt
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