Here’s Some Money but don’t Spend It
WHAT TO DO WITH YOUR MONEY
I hope the title caught your attention and made you start thinking about money. Thinking about what it is, where it comes from and its real value. Entire articles have been written on each of these subjects and books are published constantly. However….
I come up to you and say: “Here’s some money but don’t spend it.” What is your first thought? (Besides disbelief!) Here are just a few of your thoughts:
- This person looks like a friend of mine but she can’t be the same person.
- What kind of a joke are you trying to pull?
- Why would you give me money and tell me not to spend it? You know I could really use that right now.
- Where did this money come from!
I will stop there since we are about to go down a dark path with this gift of money.
The real question isn’t where did the money come from but it is What to do with your money.
FIND THE VALUE OF YOUR MONEY
Before you set out the door to head for the Mall, do yourself a favor and put that money away until you….
If you have a job and receive your paycheck, you know how far you can stretch it, right? (not far enough) For the moment, let’s get back to my statement: “Here’s some money but don’t spend it.”
If I were a friend and gave you some “extra money” that I didn’t need, wouldn’t you have at least 10 different ways you could spend that right now! After all, this is extra money and now you can go out and buy that $200 dress. If it were money already in your budget, you could only afford to buy the $40 dress and that is not until next month.
My point is setting the value of your money. If you were making $10 per hour, you want to work as many hours as your boss will let you and you are still in “survival mode”. If you were making $100 per hour, you have more leeway (unless you were careless) and you may be beyond survival mode. In this case, you have options and one of those options is to invest in your future.
WHEN CAN I SPEND IT
“Here’s some money but don’t spend it.”
What I’m referring to is what to do with this money and when you can spend it (and how). I watched a video some time last year (Robert Kiyosaki). He stated on the video that he wanted this Sports Car. He told his wife and her comment was: “that’s great, what asset are you going to build to pay for it?”
So, when I give you this money, what asset are you going to buy?