When your financial life is going well, everything feels right. It's a great feeling to know that your bills are paid and you have money left over for whatever you want. However, this feeling is not consistent for many people. There are times when the feeling of lack takes over, and it seems like your money is not stretching far enough. It's a frustrating experience when it feels like all your cash is going towards necessary expenses instead of the things you actually want to buy.
Does that feeling of financial well-being persist consistently?
This feeling of lack may indicate where we stand with our finances, rather than a true lack of funds. It's similar to having a perfectly fine car that runs well but still has a nagging feeling that it might break down soon. Does that feeling actually help or just create unnecessary anxiety when the car is functioning fine? This is the distinction between feeling prosperous and abundant versus feeling poor and impoverished. These are just feelings, and we can change the way we think about our finances, which can reveal some truths about our situation.
Poverty and abundance are merely emotional perceptions
Poverty and abundance are ultimately based on emotions and beliefs, although it's not as simple as just deluding ourselves into thinking we're prosperous when we're not. It's about changing our outdated perceptions and becoming less accustomed to thinking in terms of lack and scarcity.
Sometimes we pick up negative money beliefs from others, which hinder our ability to develop positive long-term financial habits. It can be frustrating to realize that we adopted these negative beliefs as our own and acted upon them, thinking we had to live with them forever.
The belief that we only work to pay bills is a dreadful way to think about life. However, we can change all of that by gradually adopting positive money beliefs, which will shift our financial perspective and improve our financial situation over time.
Transitioning from engaging in foolish contemplation.
People are moving away from foolish money thinking, reducing unnecessary spending, and developing wiser spending habits that allow them to save more. This is not an overnight process but involves consistent behaviours over time, making small changes in our daily lives to avoid spending money on things we don't need.
Unfavorable spending patterns
Eliminating these bad spending habits leads to a stronger budget, which brings us closer to overall financial stability. Many people overlook this and find themselves with little money left after paying bills each week. It's not a great way to live or manage your finances.
One of the worst situations is not having a budget, as it leads to uncontrolled spending and leaves little extra cash. Knowing your budget is essential to keep spending in check. When you have an abundance mindset, bills become a necessary part of life that allows you to have the basics and live comfortably. If there are expenses in your bills that you don't need, it's important to cut them out. This applies to unnecessary spending as well, which can impact both our bills and routine expenses.
By removing unnecessary items from our budget, we can spend more efficiently, improve our financial management, and gain a better understanding of our money situation. Remember, it's the small steps that add up to significant changes over time. As you shift your money habits and develop better budgeting skills, you'll save more money and spend less on things you don't really need. These changes don't have to be complicated; even small daily actions can lead to long-term financial improvement and stronger money management.