If you think money can’t buy you happiness, then poverty surely is not going to help either. It means money plays an important role to make your life easy and comfortable.
Suppose, you quit your job and realised that chasing money and becoming rich should not be your goal. But wait, what will you do when your spouse and children demand expensive clothes and food? To fulfil their needs, you must have money. And without any proper source of income, you won’t able to maintain a healthy relationship.
You can see, money is important but remember one thing that “how you spend money is all matters”
The definition of money is different among people. You might be wondering that how can it be possible when money is the same for everyone?
There is no place of worries, let’s understand this by a real-life incident…
Whenever you go out for dinner with your friends. You must have seen two types of people, one who split the bill every time and second, who is ready to pay the full. They both are right at their places but for one money is important than anything. And for the second one, money matters but not more than friendship or relationship.
You can see how money’s definition changes from one person to another. But the question arises is that how can you identify which one is a good way or not? In our opinion, both are wrong HOW?
- In the first scenario, the person is too obsessed with money. Though, it may happen that the second one is running out of money and he/she is not able to pay half one. It might be embarrassing for them. And this is not a good way.
- In the second scenario, the person carries the nature of spending too much. And it is not a good approach too. Without any second thought, spending hard-earned money is equivalent to wasting money.
Spending too much and less is not a good way to utilise money. All you need a BALANCE between earning and spending. Your financial stability depends on your SPENDING HABIT.
Many people earn quite good money every month but they are not happy. And on the other hand, a person with less income is living a joyful life.
Let’s have a look at money types and their spending habits…
- Use for enjoyment: In this habit, people consider money for joy and they think money is equivalent to living a pleased life and that is it.
- Prepare for the future: Many people especially parents pass time in worrying about the future. And this leads them to save money as far as possible.
- Respect: You have seen many people who want to buy an expensive car and house just to show the world how wealthy they are. In this, people use the money to create a positive and powerful image among others.
- Overwhelmed: Saving money is not that simple. Many people find it difficult to manage their earning.
- Caretaker: In this category, basically philanthropists are included. These people’s main motive is to provide help to needy individuals. OR only want to secure his/her children, spouse, and parents.
- Use to make more money: People use the money to make more money. They buy one property and then another, which helps them to boost their income.
You can see, there are different ways to spend money and every person have some different motive.
Now, let’s move to the part of how money can buy you happiness.
We have shared a few points that can help you to better manage your financial life.
- Prepare a Budget: You have to predict the monthly expense or you can go through your previous monthly spending. It will help you to avoid any unnecessary spending.
- Save money for an emergency purpose: Many such situations occur where you need instant financial help. At that moment, you can utilise this money to cope up with this situation.
- For fun: Many people avoid spending over joy. But you should use the money to create some beautiful memories. You can plan a trip once or twice a year. If you think you are not able to meet the requirements, you can borrow money.
You can approach online lenders in the UK to get long term loans as well as short term loans too on flexible features. It depends on you that how much you need.
Money only makes you happy when you share it with people, who know its value and are in true need of it. The right way of spending can give you immense satisfaction. Follow the above-mentioned points and make your life wonderful both financially and emotionally.