Changing the vernacular for peace of mind…
We're using outdated language and it's not helping us.
(2 minute read).
We all know the three 'envelopes' or purposes our money is supposed to fit into: Give, Save, & Spend. It's one of the earliest money lessons children are taught...(if they're lucky enough to be taught anything at all.).
In reality ... 100% of all dollars we hold are actually savings dollars, until the precise second we spend them. During any dollar's lifecycle....it will absolutely identify as all of the three aforementioned envelope titles....the only change is - time, who's using it, and for what purpose.
While these conventional money terms accurately describe the activity of the money (leaving or staying in our hands) - they do not give justice to the feeling the money's purpose can give us.
The problem is that psychologically, spending and saving - both imply a sacrifice of giving something up. (ie: "I give you my money and now I have less.") (ie: "I am saving my money and now I can't use it."). These terms train our minds to think of what we're giving up, rather than what we're gaining.
A real perspective shift is needed.
Sure it's a paradigm shift and we're talking mental (theory) here, but I promise: this does matter.
Gratitude and confident peace are soon to follow as we're now focused on the WHY....behind our money actions.
When we keep in mind that the way we USE our money is an investment of well-being into our present life - or the life of others or our future selves - we can see our money is making a positive difference.
A life well lived is one that loves and cares well for others and ourselves (as equals) and (in my opinion) acknowledges God in all we do, in all relationships, and in all of life. The way we use our money can amplify this perspective as it's naturally used accordingly and not out of balance (such as when used disproportionately for self-gratification or personal status/ego-stroking.).
What can we do?
We must re-train our minds to adopt new money terms into our vocabulary. Our inner thoughts will thank us! Here are the new words to use:
⭐Replace the term SPENDING with LIVING. Sure, we're still spending the money - but what we use it for should promote well-being in our lives or the lives of others. If it doesn't, question the decision! Even the most mundane purchases can promote stability and support us: consider our electric bill and the comfort it provides, or the toothpaste we use and the oral health it offers.
⭐Replace the term SAVING with GIVING. The key idea here is that we're giving something of value to others or our future selves. It may be the gift of time or freedom that we experience when we need it most during a personal crisis event or retirement. It may be the gift of a warm meal provided by a local homeless shelter to someone who really needs it. It may be the gift of a bigger down payment on that next big ticket item your family will need, or the gift of a debt-free and much-needed vacation to recharge.
For Further Engagement:
It would be my joy to walk alongside you as we work together to reconsider money. The practice of budgeting has immensely helped me to see money in new ways.
YNAB (You Need A Budget) software is a great cash management tool for implementing a budget. I'd love to help you learn how it can work for you too.
Have any feedback, questions, comments, or suggestions? I’m all ears and would love to hear it. Just hit reply, and I WILL email you back!
That’s all for now. Thanks for reading – you’re the best! If you enjoyed this, please do pass it along.
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