Let’s talk about the pursuit of happiness – with money. It seems appropriate to address it since tax season is upon us and some of us may be receiving refunds. So how do you plan to use your money?
Do you treat your money like a tool that helps you live a life well, or do you treat it like a god?
If we seek happiness and our identity/status in the “stuff” money can buy, then we are treating money like a god. When you take away the power money has over you, you teach it to work for you. You master money as opposed to letting money master you. This starts with discipline and discernment in the choices you make to create a lifestyle.
Money is not your master – Master money and make it work for you by Investing in a compound interest account for example. Seek out financial experts to learn more about money management
Live below your means – a good rule is to live on at least 15% less than the money you earn by making financial choices in advance. “Like a city whose walls are broken through is a person who lacks self-control”.
Tithe. Save. Spend - In an ideal situation, a good formula helps with this as well
Tithe 10% of your earnings to charity or your religious institution or a non-profit that supports a cause in your community.
Save/invest another 10%.
Spend 80% on living well.
Practice Contentment – There was a saying I would hear as a kid when one would try to compare someone else’s lifestyle to their own – “cut your coat according to your size”.
Your lifestyle is YOURS to customize and create. You can have almost anything you need, but you can’t have EVERYTHING you want. Discern.
This post was inspired by my 12Stone ministry.
Have an Inspired Monday!