Made Money Mistakes? No Problem, Two Questions To Ask Yourself
We’ve all done it … made money mistakes. At the tine that we are making
these money mistakes, it’s not in our awareness that we will regret it
sooner or later. After all it’s what’s making us happy at the moment so why
would it matter right now!
Then, low and behold it happens … for whatever reason, we have strong
feelings of regret for using our money in a way that was unnecessary or
ridiculous.
Now what do we do?
Because we’re all different, it means that you have to look at the situation
differently. Listed below are some of the statements that could describe
you and your reason for making money mistakes:
*I was stressed and needed to spend my money to relieve my stress.
*I got into an argument with my spouse or significant other and the
first thing I thought of was to spend money.
*I couldn’t say no to my child/children when they were nagging me
to buy them something (or a specific item).
*I wanted to impress my friend/s and buy them a gift even though I
didn’t have enough money and used credit.
*I wanted to impress my friend/s and buy them dinner even though
I didn’t have enough money and used credit.
*I bought things for my house that I couldn’t afford and was way out
out of my price range.
*I went grocery shopping and bought more then I planned because
there were some items that I just had to have that I was craving
and now, I don’t have enough money to pay on of my household
bills.
*I bought an item that I didn’t have money for by signing up for a
store credit card that was offering a special promotion with a
great payment plan option, even though I knew that I couldn’t
make the monthly payment.
Obviously there’s a lot more situations that happen, but I hope you get the
idea of what’s listed above. There’s always a reason why we make money
mistakes and the best thing that you can do for yourself is to recognize what
you did and why you did it.
Then there’s the ‘accepting it’ part that might be a little hard to bear, but remember
that sometimes these things are going to happen because we are emotional
human beings and occasionally our emotions will get the best of us.
This life is all about learning and growing, you can’t learn anything and grow
if you don’t go through these situations. These so called ‘money mistakes’
can be a very powerful learning and growing experience as long as you are
willing to accepts it as such. If you can do that, then you’re well on your
way to making better money decisions later on.
Every time you have a need or desire to spend money, make sure to ask yourself
a couple of questions before you open your wallet.
The first question is: Why am I spending money right now?
If the answer to that question is anywhere close to the set of statements listed
above, then I would recommend that you close your wallet and walk away.
The second question to ask yourself is: Will I regret making this purchase
anytime after I leave the store?
If the answer to that question is a “maybe”, “possibly”, “I don’t know” or “yes”
then close your wallet and walk away. If it’s something that you really want
and desire, then think about it for a day or two to make sure that you’re making
that purchase for the right reason.
Just asking yourself these powerful questions will make a big difference in how
you use your money and lessen the chances of making more money mistakes.