Saturday, June 10

What do I believe about money?

Hey look, two posts in one day!  This one's an easy one, drawn from Radical Mutual-Improvement,aka my blog's fodder.  He also linked to another post that I was planning on reviewing at Lifehacker, so perhaps karma, fate, or whatever will cause me to massively update on Monday morning.

I'm fairly sure part of this is based on a section in The Millionaire Course, so that's why it looks so familiar.  Anyway, link back to RMI for what the questions are.  Here are my beliefs about money:

  • I do not believe that more money will make me happier.
  • I do not spend money as soon as I get it.  Sometimes, I need to hold it to add to money from my next paycheck so I can pay a particuarly large bill.
  • I barely have enough money right now, and there are some things that I consider "essential" that I am currently going without.  Strangely enough, a computer isn't one of them, but this one was free and is hopelessly outdated. :-)
  • Money is the currency that is traded for labor.
  • Making money requires work.  As far as it being hard work, I don't necessarily believe that you need to kill yourself dead to make money, but rather be smart with the money that you make from doing a job that you enjoy doing.
  • Money does not corrupt.  It is the love of money that is the root of all evil.
  • Money can buy everything that is not truly important in this world (shelter and sustenance excluded).  One cannot buy a good spiritual life, and one cannot buy a good family life.
  • I don't believe there is a shortage of money in the world.
  • Strangely enough, I don't want to be rich.  I would like enough money that I will be able to live doing what I want to do for a living, and not enough money to be able to teach my children the value of earning and saving money.
  • With my previous attitude of money management, I definitely do not deserve to be rich at this point.  I'll settle on getting out of debt first before I can even consider whether or not I deserve to be rich.
  • It takes enough money for one to be able to support his family, have a good savings for retirement, stash away enough for an emergency fund and other rainy days, and be out of debt to be rich.
I would be rich in money, and derive as much possible happiness from money, if I had $32,000.  I chose that number because that is how much it would take to get me out of debt, cars included.  After that, I make enough to be able to save towards my goals and still live comfortably on the remainder.

Do I deserve to have $32,000, and have what it takes to get it?  Yes I do.  There's no reason why I shouldn't be able to fix my past errors in spending judgment and get on with my life.  I don't think that anybody should have to live his life under a cloud of debt, unless it's to teach him how to appreciate not being in debt.


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