Day 25 – A New Financial Mindset

(This post is part of the 30 for 30 Challenge).

At some point in our adult lives, we’ve all said some degree of the following: “If only I had more money, I could take care of XYZ and everything would be better.” After living with this mentality for years, and after having received multiple promotions and raises, I realized after a while that I continually ended up in the same place that I started at the end of every month: broke.

Each pay period I would pay my bills, save a small portion, and then see how much I had leftover. I wasn’t aware of it at the time, but this money was a motivator for more spending. The more I had leftover, the more I felt obliged to spend it on nicer things for myself.  The way I figured it, I had done my part by saving a little and paying all my bills on time, so I “deserve” to get these other things as a young professional for my career, health, lifestyle – name your spending category.

spending-more-than-you-earn

We convince ourselves that having more money will close the gap between having money and not having money at the end of every pay period.  If only we could see that it is not so much the lack of money coming in, but the amount of money going out that keeps us in a perpetual rat race. It takes time for most to realize this, some never do. Continue reading “Day 25 – A New Financial Mindset”

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