Why You Probably Need to Change How You Think About Money
In the latest episode of The Currently Podcast, we talked money with Natalie Torres-Haddad the Award Winning Author of the Financially Savvy in 20 minutes. Natalie is the first Salvadoran-American woman to publish a book dealing with student debt for millennials. She bought her first rental property at 24 and has continued to invest in real estate since then. Her activities have been covered in Huffington Post, LA Times and Toastmasters Magazine.
But the most important thing I want you to know about her is that she built a career she loves, serving a cause she believes in, empowering others to understand their finances. Ultimately, I believe (like Oprah) that what most of us want is to feel like we matter and that our time on earth is making a difference in the lives of others. Natalie enjoys sharing her knowledge and that matters because we are not here to just earn a paycheck.
Let me explain what I mean.
This doesn’t mean everyone needs to be self-employed or start a business to find their “mission in life.” Although for a lot of people going this route gives them freedom to maximize their income in different ways. But that’s not the only way to find purpose or fulfillment.
You can find satisfaction in a hobby, a side-business, or in donating your time or money to a cause.
Thinking about our money is important is because regardless of how much money we have we can choose to spend it on things that give us more meaning or mindlessly on thing that give us momentary satisfaction and don't fit in with our larger goals.
Why does matter? Well because we live our lives seeking to find fulfillment in things, objects, or seeking the next “best” thing then no amount of money will ever be enough. A long time ago, I read that once you are making enough to make ends meet and a little extra that additional pay doesn’t necessarily increase your happiness and satisfaction levels.
Does that mean we shouldn’t buy things?
No, here’s what I think it means.
Make sure your money is going to things that bring you joy, things that are taking further along on your journey to self-discovery. That new car buzz only lasts so long before you need another thing to excite you. But if you rebuild a car because you love making and fixing things you will obtain a different level of satisfaction.
So are you saying I should not be trying to make more money?
But think about what you want more money for. Is it possible you can feel ok now while you work towards making that money?
Be aware that how you spend speaks to your values and make sure you agree with the message you are sending out into the world. For example, our country spends more money on military than on education and that says something about who we are as a people and where our priorities lie.
Disclaimer: Being low on cash is not a character or moral failing. Especially not in a system that consistently places concentration of money in fewer and fewer hands. Don't feel shame about money. I'm working on that last part.
Think about making more sure but think about how you will strategically use what you have and how you will use the additional money you make. Also think about what making that money is going to cost you. Is it time with your loved ones? Time away from doing the things you enjoy doing?
Whatever you do. Do it with intention and awareness!
In the next blog we will explore ways to make more money and how to advance our learning about money.
You can further your own money knowledge today by winning a free copy of Natalie's book! Fill out this form to be entered! (This sign-up will also enter you to receive my recurring newsletter)