Avoid Becoming Small Minded About Money With These 7 Lessons

Lots of folks will tell you that money’s not too important, that you shouldn’t let an absence of it cloud your mind and lead you to despair. But in today’s world, money matters. You need it to pay rent, pay bills, buy food, travel — the list goes on and on.

Unless you’re someone like Bill Gates, Mark Zuckerberg or Warren Buffett, money has likely stressed you out from time to time — even if you’ve done your best to try not to worry about it. The truth is that it’s probably stressed out those guys, too, but in a different way.

Even if you’ve never lived paycheck to paycheck, you’ve probably wondered about how you’d be able to save up for that special vacation or how you could possibly piece together enough money to buy your own home. The good news is that even if you’ve let money get the better of you, a quick change in the way you think could help you regain control over it and recognize how big a role cash plays in your life.

If you find yourself getting stressed out over money — something that’s incredibly easy to do — it’s important to remember the following seven lessons.

1. Money May Make Things Easier, but It Doesn’t Buy Happiness.

It is true that life gets easier with a fat bank account. You don’t have to worry about making rent. Hungry? No problem, head out to any restaurant you’d like. Bored? Take a trip. Despite the liberation money provides, it doesn’t provide happiness. While it might take away or reduce financial stressors, it appears as though money also creates additional stressors, such as constantly worrying about the stock market. There’s no written law that says poor people cannot be happy.

2. You Can Be Richer Than People Who Make More Than You.

Feeling down on your employability and salary history? Here’s some simple advice: Live within your means. Even if you’re only a newspaper reporter and your buddies work in finance, you could end up with more money than them at the end of the year if you live simply and within your means. If you want to earn more money and have some free time, consider working a couple hours at a second job, such as bartending gig. Simply because people earn more money than you doesn’t necessarily mean they’re richer.

3. The Better You Budget, the Easier It Is to Live Within Your Means.

If you make $2,000 a month, for example, it’s easy to determine how much you can spend on leisure, invest or save at the end of the month if your fixed expenses like rent, utilities and student loans amount to $1,400. The more meticulously you maintain a budget, the easier it is to ensure you’re not living beyond your means, which should reduce financial stress.

4. Poor People Still Have Fun.

If you don’t have six figures in your bank account — or even three for that matter — it doesn’t mean you’re barred from cracking a smile or laughing. There are plenty of things that don’t cost any money. Consider the following advice:  

 

• Go for a run.

• Go for a hike.

• Head over to the library.

• Walk around your town.

• Read a book.

• Draw.

• Tell jokes.

• Write a story.

 

The list is endless. You simply need to think about what you want to do — and then dedicate your time to that free, but enjoyable, activity.

5. You Can Almost Always Reduce Your Expenses.

You can likely reduce your expenses, at least a little bit, if you really dig deep. For example, rather than forking over more than $100 each month on a cable package, consider dropping to just Internet and adding Netflix or Amazon Prime. Both services are available for considerably less than the average cable subscription.

6. Many People Have Credit Card Debt.

During any given day, you likely see people talking on their brand-new iPhones and driving their BMWs, Audis or Lexuses. Remind yourself that the average U.S. household has over $15,000 worth of credit card debt. That’s certainly a lot of meatballs, so don’t automatically mistake someone’s outward expression of wealth as it appears.

7. You Are Fortunate.

If you have a full stomach, a roof over your head and a bed to sleep in, you’re doing well. If you wish you had more money, take the time to be thankful for what you do have, remembering that there are so many folks who would appreciate being in your exact situation.

Avoid Becoming Small Minded About Money With These 7 Lessons – Final Thoughts

Learning these seven lessons and carrying them with you every day will help you discover that worrying about money doesn’t occupy nearly as much of your energy as it used to. Good luck!

Anum Yoon is a personal finance blogger and writer. She created and maintains her personal finance blog Current on Currency. You can subscribe to her blog newsletter right here for her weekly updates.