7 Cardinal Virtues Of Money Management2 min read
Here’s how you can bounce back from the poor financial decisions you’ve made in the past.
You know the signs: unopened bills, random phone calls from anonymous numbers, and zero savings. You get your pay today and get broke the next day. No doubt, you have committed at least one of the seven deadly sins of personal finance.
And while it feels like only a miracle could save you, it’s actually not 100-percent true. More than anyone or anything, you can save you. All you need is a little, well…lifestyle purgation.
Plead guilty and confess. Repent from your past misdeeds. Incorporate these seven cardinal virtues of money into your life and soon, you’ll be well on your way to financial bliss.
In this day and age where everything is made possibly convenient, it is ironic that many individuals resort to thousands of alibis to say no to financial growth or money-making opportunities. Putting up your A-game to salvage your bad money situation is a start. By possessing a fortified work ethic matched with positive energy, you can easily dodge financial mishaps.
They say patience is a virtue, but this saying doesn’t imply you should wait for the apple to fall. Patience means waiting for the perfect timing to strike when making financial decisions, such as venturing into stocks and other investments. Patience also means keeping your cool amid money problems, especially that disputes of such ilk have a reputation of burning bridges between families and friends.
Being financially chaste means veering from frivolous spending. Abstinence from luxury and non-essential expenses is the key to being honest with yourself. Realize your real needs: savings, insurance, and an emergency fund. Aside from saving money, being thrifty can save you from the difficulties of living paycheck to paycheck.
In a world where crab mentality exists and selfishness abounds, kindness is still your saving grace. Being kind, from a financial standpoint, means nurturing other people’s potential to progress through financial advice and assistance. It also includes being kind to one’s self by financially securing one’s future.
Deterring pride from getting in your way to financial freedom allows you to think clear to maneuver your next financial move. Humility keeps your ears open to advice that gives room for improvement and growth as you plead guilty to careless spending. Being humble means not being afraid to acknowledge the need for financial help.
Social media and advertisements dictate the standard of living these days, deluding consumers to purchase, thus dissolving the line between needs and wants. This significantly deters financial growth and the ability for people to save a portion of their income. Temperance counters overconsumption and instills the disciplines of handling money and making it grow.
Charity is about putting people first. Don’t be limited to giving a huge portion of your income to the less fortunate; you can also explore groundbreaking business ideas that give something back to the people. –Diana Lyn Balbalosa