I was raised in a family that was constantly plagued by financial difficulties and because of this, I learned how to discipline myself in spending as I got to imbibe this act from my parent, especially my mom because she was an avid trader who ventures in all kinds of trades just to provide for the family. Because of this, she was so wired in the act of savings that she was always cautious and careful with the way she spends. Her business life was what my younger sister took from her and she is so learned when it comes to financial issues.
I started growing up to become a "scrooge" — don't worry, you will get to understand what I mean below. As young as I was then, I held money in high regard as it gave me a sense of security up to this moment.
When it comes to spending, we have different ways and habits to it and these are shaped by our personalities, the values we subscribed to and how we are brought up. The way a rich man's daughter would spend lavishly is different from how an average man's daughter would, and it is necessary we understand that everything isn't about money alone but who we are when it comes to how we spend.
What type of spender are you?
I have come to realize that there are ways we can spend our money wisely and work our way to financial freedom and I am glad to share with you where I belong to.
Are you a generous giver? Do you give out what you have? I noticed that givers, I mean the true and cheerful ones love to bless others with their money. They love to put smiles on people's faces when they give.
I learnt this from my Dad especially. While growing up, I watch my Dad gives his last penny to people and I would always see him happy doing that. I got to see how people love and want to be around him because of this act. I started growing up to become a giver too. Not just a giver, but one who would happily give from her heart because it gives me joy knowing I am blessing others with what I have.
Givers never lack! This is so true because I am a living testimony to this. I come to understand that whatever I have isn't for me alone and this is why we would always have the poor (those who can´t afford it) among us. Thank God Jesus said this. I consider someone who gives from his or her heart a wise spender because every good deed you do comes back to you in multiple folds. If you aren't doing this much, I would advise you to start giving out of what you have because it is what I have come to enjoy. Giving brings joy to you likewise putting smiles on other people.
Tip: Just because you are a generous giver doesn't mean you should give all to people. You should know when to give and not to give so you can have something left to spend and save too.
Yes, this is where I fall in when it comes to spending wisely. Right from time, I have always been calculative of how I spend my money. I said the other time that I have an app that helps me track my spending and no matter how little an item is, I input them down. Some people even tagged me as being stingy just because I am extremely careful when it comes to spending and always calculate whatever I buy to the least amount. My motto in spending is that "every cent counts", and that is the truth about a scrooge like me. I make sure to plan and list every item I need to buy and once I get them, I don't forget to input them into my app.
Just a snippet of my spending last month.
How do you expect a scrooge like me to fall into this category? If you are on this list, then know that you might not really be a wise spender. Those who fall into this category are the ones who spend their money impulsively. They buy everything they see and they are also a target for vendors who sells products because they know whatever amount they call for them, they don't beat the price down or negotiate. In fact, they can be lured by advertisers when there is a discount and they are also driven by wants rather than needs.
Though, they know how to enjoy their lives and attend all kinds of parties, their money easily runs dry and at the end of the month, they don't seem to understand how and where their money went to. They eventually end up not saving at all. This is a bad habit of spending.
I have a friend in this category and I love her for that. She doesn't spend her money but would carefully weigh the risk and benefits before she spends. Most times, she seeks advice from me on what to buy and asks if it is worth throwing her money into it. I can say people in this category are wiser because they don't just go for anything, especially things in vogue or trending. They watch out for any possibility of benefits they would derive and the risks in it so as to back out quickly.
I can say this set of people knows much about finance and would gladly be someone to meet for advice as they tend to not waste their money but use it for the best purpose.
Now, which category are you in? It is important to check yourself and see if you are a truly wise spender or not and work towards making an adjustment before it is too late. We all want to live a better life and have financial security. I hope this article helps too.
