NOTE: This may not constitute anything about earning money online but I feel it is very important to realize parts of money mismanagement every hard working individual unconsciously makes mistakes from. With this in mind, I hope that this realization will enforce a better management system for everyone so their hard worked income from online activities will not go to waste. Just a friendly reminder from your geek. ^^
photo credit: Rosemary McKevitt
As I mentioned in a previous post, ”The hardest thing for every financial-freedom looking individual is to keep money.”
Two things I consider very obvious in human behavior to result in money mismanagement.
Envy and Vanity. You find someone of the same status as you and yet you see that person having more of life than you. That person seems to have more time for leisure, goes on trips, gets branded clothes, etc. while you settle for alternatives. You decide to buy something of the same quality, brand or even cost just to show everybody you can have what the other person has. That calls for trouble because you cannot make everybody believe that you are well-to-do as that other person. When you waste your time and money putting up ‘airs’, you may end up working harder that you expected and possibly pay up more debts for loans you got to pay off those ‘airs’.
For people not born rich and are working very hard to make a living, such behavior will not get us anything in the world. We live in a world where we place the ‘elite’ class in a pedestal and run up a false standard of perfection when the majority in principle, forgets that it’s the majority who ought to rule. Many of us forget (including me) that it is wiser to think unto ourselves to regulate our income properly for our needs and save for a rainy day. Rather, we end up buying things according to what society deems necessary when we can live without too much of the costly type.
I, for one, admit I tend to gratify my whim on specific things when the mood strikes. I’ve learned that already but I find it hard to cut down my caprice and vanity. It is a good thing I have friends and special partner, who reminds me of the important things in life and directs me to where my money should land on.
Currently, I’m scouting around for a personal laptop to use for my internet studies, web management and possible future sidelines. I can’t rely too much on the desktop, especially on the income generating side since I’m not the only one using it at home and my dad keeps harping me for the electrical expenses. I asked my boyfriend, who asked one of his close friends working directly with laptop distributors, to look for a quality yet affordable laptop. I didn’t know much about hardware specifications and this will be my first time to have a laptop so I want it to be perfect. Since both of them know my tastes, I let them do the scouting because I’m sure, if I was left alone to roam the mall and check the laptops displayed, I might end up purchasing a laptop which, according to them, may be too expensive according to the laptop’s specifications. I was going for the NEO laptops because they are cheap with high specifications but my critics (boyfriend and friend) said NEO is not advisable to have because it easily heats up. I was thinking about getting an HP since the name already has a high quality standard, but they told me it was only a name and there are other quality laptops than HP.
It’s the same thing with other things in life. You cannot just buy branded stuff just because you’ve heard of their high quality and fashion sense. There are a lot of unheard of brands out there that give the same quality at a lower cost.
At most time, taking care of our things will result to saving up more. Old clothes could last and be used for the next season. An alternative wine could taste better than champagne. A cold bath and a brisk walk a few blocks to your office is more exhilarating and energizing than spending on gym fees you may not continually attend to (I have friends like these.) An evening with family, friends or your special someone is more pleasant than constant partying at a night club costing you more.
Do you think I’m right? Aren’t we all victims of Envy and Vanity? Don’t you think its time to put into good use our hard earned money like investments and such? I’m not saying to be overly frugal that you don’t get something nice for yourself. Just keep in mind, moderation is the keyword.
