Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/a26f9f83/public_html/articles/includes/config.php on line 159
More Money? My Cup Runneth Over...But Im Still Thirsty > NetSparsh - Viral Content you Love & Share

More Money? My Cup Runneth Over...But Im Still Thirsty

Most of us, especially those of us who have debtor's disease (if you have it you know what it is!), have commented or at least thought, "If I could just win the lottery, or sweepstakes, everything would be better." Unfortunately, even if that big dream did come true things probably would get worse instead of better.

It's a strange phenomenon. It seems the more money you have, the more you need. It makes perfect sense. Given more money, most people would increase their standard of living. My question is, "If you haven't properly managed the money you have now, how do you expect that you'll be able to properly manage two, three, four, five or hundreds of thousands times more money?" A good question, huh? Food for thought. Maybe you need to start learning to properly manage what you have now while it's on a much smaller scale. Then you'll be prepared when that big lottery win, or sweepstakes, comes through!

Now you may think this is a crazy, nonsense theory. Surely a million is enough for anyone to be on easy street! I'm sure you have at some time heard rumor about people who fall into great wealth by some means or another, and just a short time later are back where they started or in even worse financial condition. Many of these instances end in bankruptcy.

Not convinced? Let me tell you about my own, smaller scale, experience with this strange phenomenon. Once upon a time, I was a single parent raising four children on an income of just under $20,000 per year. My children did not do without, and while I did begin my journey into debtors demise during this time, I had everything under control. Or so I thought.

By my understanding now, I certainly was not managing my money well. I was not properly preparing for variable expenses or emergency expenses that were sure to arise. Thank goodness for a great family infrastructure that gave help and support when needed! My monthly payments were well within my income, including debt payments. I monitored my debt to be sure I maintained a comfortable debt to income ratio. I felt that I had the proper perspective on my finances.

It was not until the household income increased due to marriage that I somehow lost that perspective and my real problems began. I blame a good deal of this accelerating financial ruin to "over confidence." This "over confidence" lead to an arrogant disregard of proper money management. Looking back, you know hind sight is 20/20, if I knew then what I know now, I would be way ahead of the game!

Since my new husband earned more than twice the income I had, I quit work to become a stay at home mom. I've been working since I was fourteen years old (and I'm no spring chicken now) so when he expressed the desire for me to stay at home with the kids, I jumped on it! But, this was not a contributing factor to my financial demise. It was the mindset I acquired when the household income increased.

My mindset was this, "If I took care of a family of five on my near poverty level income, surely I have no financial worries now." Life was good! At least for a while. Our standard of living changed of course. Typically, my cup runneth over??and I thirsted for more. Now we could afford to charge those things we "needed?" (I question it because, my definition of this word has greatly changed) and wanted without fear. I had that fear before. The fear of not being able to pay back the debt. I believe that's why I kept it under strict control. With that fear now gone and a new sense of false security replacing it??..debtor's demise set in quickly.

Before I knew it we were living paycheck to paycheck. Sometimes, I even found myself juggling funds around to make the budget balance. It didn't seem like so much money any more. I can laugh at myself now that I understand exactly how it happened. That delusion of grandeur mindset I had let little ol' me fall into. After all my research, I now know that I am not unlike millions of other people in this world. It's an easy mindset to get into. This is why more money will never make everything better until you learn to manage first and then spend.

Your best preparation for that big winning day is to start planning now. Even if that big money dream never comes true, you may be surprised what a little forethought and planning can accomplish. A good debt free spending plan and monthly budget that encourage frugal living will, at the very least, provide you with more financial security and independence.

Why heck, if you're young enough, you can plan your way into millionaire status. It can be done. It has been done! It's the guy next door who you may not even be aware classifies as a millionaire. He or she probably doesn't brag about it, and their lifestyle doesn't hint of it. But I bet that's one happy, stress free, millionaire who has everything he needs and wants. He's probably just about the nicest person you ever want to meet. Simply because he manages his money and refuses to let his money manage him!

So what are you waiting for? Quit wishing for more money and make a plan to manage and take control of what money you have!

Good Luck and Success

Live Debt Free to Be Free. You Deserve It!

Cheryl Johnson is a mother of four helping herself and others become and stay debt free. Publisher of Simple Debt Free Living at http://www.simpledebtfreeliving.com - A self-help plan, ideas, and resources for debt management, household budget planning, frugal and debt free living, and extra income opportunities Money Saving tips to maximize savings everyday, reduce expenses, and encourage debt free living.

In The News:


USA TODAY

Pete the Planner: Road to early retirement may be bumpy - USA Today
USA TODAY
You will need some luck to ensure financial success in early retirement.

and more »

USA TODAY

Personal finance: 15 smart things you can do with $1000 right now
USA TODAY
A thousand dollars might be pocket change or a rounding error to multimillionaires and billionaires, but it's a meaningful sum for the rest of us. Any amount of money that we can save can be put to good use. Here are 15 examples of smart things you can ...


Unexpected Costco bargains and whether a millionaire daughter ...
MarketWatch
My daughter earned millions at Google, but her boyfriend has student debt — should she get a prenup? This father wonders whether his wealthy, smart daughter ...

and more »

Chicago Tribune

Personal finance experts reveal their favorite money apps
Chicago Tribune
Both David Bach, nine-time New York Times best-selling author of books such as Smart Couples Finish Rich, and J Money a personal-finance blogger at Budgets Are Sexy, are fans of this app. “You won't get rich off of this, but it's a great way to dip ...


Benzinga

In Its 10th Year, Personal Finance App Mint Is Investing In AI, Data ...
Benzinga
Mint, the personal finance app owned by Intuit Inc. (NASDAQ: INTU), could be transformed by artificial intelligence and machine learning. That's according to ...

and more »

After painful personal loss, managing money looms as key challenge
Minneapolis Star Tribune
A thoughtful personal finance guide for recently widowed or divorced women is "Money Confidence: Smart Financial Moves for Newly Single Women," by Kerry Hannon. Hannon is passionate about helping people gain control of their finances and her book is ...


Personal finance seen as big gap in education - Lowell Sun Online
Lowell Sun
BOSTON -- Eric Swansburg, a business teacher at King Philip Regional High School, passed a 100-question test around his class last week to gauge students' ...

and more »

USA TODAY

How to invest without losing money
USA TODAY
... bonds offer generally stable returns with very limited risk, and in some cases no risk at all. The problem is that safety comes with a price. CDs, to examine one cash equivalent, constitute an agreement in which you give your money to a financial ...


Daily Nation

PERSONAL FINANCE: The debt catch up
Daily Nation
The bank calculated this regardless of her other financial obligations. Susan now realises that to comfortably afford the loan, she needs to be earning 30 per cent more than she is now. She needs her income to increase just to afford a loan that she ...


Forbes

How To Stop Boring Students When Teaching Personal Finance
Forbes
My mission for the past seven years has been to help students and recent graduates develop healthy money habits and build the foundation for a lifetime of financial wellness. As the co-founder of the Harvard University Personal Financial Management ...

Google News

Single Mother and Learning how to Save

Saving may seem easier if you were saving for a... Read More

The Magic Of Compound Interest

Christians are called to be good stewards of God's resources.... Read More

Basic Bank Accounts Failing the Basic Needs of Consumers

The lists of bank and savings accounts that are available... Read More

Grocery Savings - Your Kitchen is a Goldmine!

Your food budget is the most flexible area of your... Read More

What Happens if You Die Without Making a Will

If you die without making a Will in the UK,... Read More

Budgeting is Bothersome

It doesn't take much for you to get behind on... Read More

Five Secrets for Long-term Financial Success

Future financial success is not a guarantee that any one... Read More

Creating A Household Budget

Creating a budget can be a very difficult task. Although... Read More

Portfolio Planning can Lead to Irreconcilable Differences

The judge had to ask the question, and we had... Read More

Financial Security

1) HOW TO LOOK FOR A JOBA) The Chronological Curriculum:1.... Read More

A Quck Lesson in Saving Money

Did you have a piggy bank when you were a... Read More

Vacations Made Easy: Buying a Florida Investment Property

Vacations Made Easy: Buying a Florida Investment PropertyA relaxing beach... Read More

Budget Planning - Its Elementary My Dear Watson

Does it feel like you have to be Sherlock Holmes... Read More

If All Things Are Possible, Why Cant I Balance My Checkbook?

For me, the most terrible time of each month is... Read More

Safely Save for Your Childs University Studies Using An Education IRA!

This investment retirement account (IRA) is useful to you as... Read More

10 Tips to Make Sure Your Financial Budget Will Succeed

You've analyzed your past expenses, put them into spreadsheets, loaded... Read More

Debt Management ? Watch Out for Bank Fees!

During the last twenty years, banks have offered a number... Read More

Personal Finance ? Why You Should Compare, not Despair

Sorting out your personal finances can be a tricky and... Read More

Bankruptcy Laws Get Tougher - More Expensive

If you've been thinking about filing for bankruptcy, your best... Read More

Why You Should Seek Professional Help With Asset Management

Everyone needs to maintain their lives. What I mean by... Read More

Do You Really Need the Power of Money Management Software?

I have been a loyal user of Quicken(R) for more... Read More

How to Obtain a Non ChexSystems Bank Account Without Being Scammed

Predatory lending exists in the mortgage industry. It's typically when... Read More

How to Choose the Right Bank for Your Online Business

You should thoroughly consider your business needs when selecting a... Read More

Financial Readiness: Preparing for BRAC (Base Realignment And Closing)

The recommendations for military base closings have been released and... Read More

The Changing Shape of Family Finances

Super-mumsIt seems that the proof of maternal efforts is no... Read More