They say that where you spend the most of your money is where your heart is. Where are people’s priorities today? Today’s shopping/priorities list is blurred. The shopping list is winning.
I grew up in a household where my mother spent, and my father saved. They fought about money for 46 years. My father believed that my mother spent money like it was going out of style. My mother believed that my dad didn’t give her enough money.
Every Friday in the kitchen, he would give her his whole paycheck expecting only a few dollars in return for pocket change. My mother had her paycheck, her side hustle being a nanny, my father’s income, and my father’s side hustle selling barbeque – just to name a few of them. She would get that money as well. She had access to all that money, and it was still not enough. Over the years, I learned that my mother worried about what people thought of her and how she lived her life. This behavior was because she grew up poor on a farm. There were nine of them altogether and they never got anything new. Clothes and shoes were hand-me-downs or from Good Will. Mother didn’t want to be that poor little black girl with no money or nice new things.
People today are trying to live like my mother did all her life – like the “Kardashians” – and they truly don’t have the financial means to do so. I’ve noticed over the years when helping my clients that many of them are overcompensating for something and don’t want to deal with the real issue. I witness them spending all their money and having nothing to show for it.
I encounter people like this daily; people who are making $100000.00 a year and have no idea where the money goes. They have no savings, no retirement plan, and no assets. After talking to them, I discovered that all their money was spent on entertainment, travel, eating out, and debt. Is this you?
Most of the people I encounter have grown up poor and vowed that they wouldn’t be poor when they grew older. I have witnessed people that never fixed their belief ideas about money and mismanagement of money. Yes, they made the money, but never acquired the knowledge and education to be a steward over their money. Is this you?
Earlier, I stated that the shopping list is winning over priorities. This is so true because 78% of Americans live paycheck-to-paycheck and the average credit card debt per household is $18,000.00. In addition, the average person spends $2600.00 a year on cable television. According to Go Fund Me, over 700, 000 people set up Go Fund Me accounts requesting funds from people to help pay for a loved one’s funeral. This shows that the priority list is losing, and the shopping list is winning. When I see these numbers, I realize that majority of people have no idea what the priority really is. Which list is blurred: your shopping list or priority list?
Well, I challenge you to look at your shopping list and priority list. Find the areas you need to fix and get the help you need if you are unsure how to fix the problem(s). Go to thefinanciallady.com and find free resources to help you manage your financial life.
Be aware, be informed!