What are you most guilty of?
It’s easy to give in to temptation when you have money in your hands. Oftentimes, the urge to live in the moment is just too strong that you tend to forget about your goals.
This lent, take some time to give your finances some serious thought. See which of the following cardinal offenses you commit more often, and plan on your course of action. It’s never too late to make up for your shortcomings—but first, you must learn to forgive yourself.
Pride: The “I deserve this” mentality
You brave the traffic, slave off for more than nine hours a day, and accomplish beyond what is expected. But validating your hard work with uncontrollable and frivolous purchases at the malls has its consequences. Once your spending habits spiral out of control, the short-lived gratifications might result in debt that can get you down on your knees in the long run.
Greed: Succumbing to get rich quick schemes
There is only one sure way to get rich quick, and that’s to get rich slow. No legitimate investment scheme is devoid of risks; be wary of anything that promises sure returns in a short span of time. Money doesn’t miraculously multiply like two fish and five loaves at the Sermon in the Mount. In real life, you have to do a sound computation.
Lust: Giving in to instinct
When you see a nice item on sale, your survival instinct automatically kicks in: the want becomes a need, and suddenly you feel competitive and harbor a fear of missing out. But as Kit Yarrow, chairman of psychology department at Golden Gate University, says in an article on Time, “Sale-obsessed shoppers ultimately spend more money than non-sale shoppers.” This is because deals and discounts will keep you wanting more, and therefore shelling out more.
Envy: The need to be part of the in crowd
Envy is that emotion that urges you to achieve higher stature—and it has become even widespread ever since #OOTDs and #wanderlust became all the rage on social media. But just like lust, it makes you feel inferior and wanting more. Instead of feeling envious, count your blessings. You’ll realize you are so much better than what you think.
Gluttony: Saying no to abstinence
Not just in excessive trips to buffet tables and lavish Instagram-worthy banquets, but also refraining from going overboard on your unnecessary expenses and even necessary expenditures like grocery shopping. If you are exceeding on your calorie count, you are most likely overspending on your budget.
Wrath: A love-hate relationship with saving
Disdaining the idea of saving is common; failure to execute your moneysaving plans, even more so. But one thing will always be true about people who don’t save a portion of their income despite promotions and bonuses: they will continue to live from paycheck to paycheck.
Sloth: Existing is not living
If you think having a lot of time means you have tons of wealth, you are wrong. The adage “Time is gold” is only true when time at hand is translated to productivity. Like they say, if you woke up without a goal, go back to sleep. Though keep in mind that sleeping all day won’t get you anywhere—unless you just want to keep on dreaming. –Diana Lyn Balbalosa