{"id":3860,"date":"2011-03-08T08:15:31","date_gmt":"2011-03-08T16:15:31","guid":{"rendered":"https:\/\/www.pickthebrain.com\/?p=3860"},"modified":"2013-09-05T12:12:12","modified_gmt":"2013-09-05T20:12:12","slug":"5-ways-to-make-your-money-work-for-you","status":"publish","type":"post","link":"https:\/\/www.pickthebrain.com\/blog\/5-ways-to-make-your-money-work-for-you\/","title":{"rendered":"Day 24: 5 Ways to Make Your Money Work For You"},"content":{"rendered":"
<\/div>

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You probably already know how to work to bring in money, but you only have half the equation unless you\u2019re taking these steps to make your money work for you.<\/p>\n

You don\u2019t have to be a Wall Street wiz kid – all it takes is being mindful of when you spend your money, why you\u2019re spending it, and what your true goals really are.<\/p>\n

1. Have specific, tangible goals for your money.<\/strong> Take time to really think about what being financially secure means to you and how you want to spend your retirement. If you have a partner, be sure to talk it over with them, so you are both on the same page.<\/p>\n

It\u2019s much easier to work for a goal when you can visualize it rather than thinking \u201cOh, I really should be saving money\u201d simply because that seems like something you should do. It becomes much easier to change your spending and saving habits when you can say to yourself, \u201cI want to put aside money so I can travel more or buy a place in the country.\u201d<\/p>\n

2. Automate your savings as much as possible.<\/strong> Your goals and dreams shouldn\u2019t be relegated to what\u2019s left over. They deserve to be made a top priority. There are many ways to do this. Discuss different options with your bank or employer. The important thing is to make the mental shift towards thinking about your goals as non-negotiable, not something that you\u2019ll get around to someday.<\/p>\n

3. Find out where your money is going by keeping a spending journal.<\/strong> The point of this isn\u2019t to make you feel bad about wasting money, it is to examine how much happiness you\u2019re getting per dollar spent. Once you know this, it\u2019s easier to change your habits so you\u2019re spending money on things that make you happy and eliminating expenses that don\u2019t give you the same bang for the buck.<\/p>\n

An excellent book that goes into depth about this subject is How to be Rich and Happy<\/a> by John P Strelecky and Tim Brownson which includes handy worksheets that can help you determine where your money will have the most impact on your happiness. However, even if you don\u2019t read the book, you can still take a close look at your spending and see the areas where you\u2019re spending money without any appreciable effect on your well being or ultimate goals.<\/p>\n

4. Don\u2019t be afraid to ask questions and never feel as though you should already know it all. <\/strong>You\u2019d be surprised how little most people know about money, investments and other financial matters. You\u2019re only hurting yourself if you let pride or embarrassment get in the way of asking questions that could help you make the most out of your money.<\/p>\n

Likewise, don\u2019t be hesitant to ask questions about how to reach your specific goals. It will be much easier to make a plan to achieve your goals if you first know the necessary steps. If you don\u2019t know how to buy stocks or get a business license or what permits you need to climb Mt. Kilimanjaro, until you find out you won\u2019t be able to move forward with your plans.<\/p>\n

5. Adopt a positive attitude towards money.<\/strong> This is not the same thing as being materialistic. It\u2019s realizing that money is a useful and necessary tool in our society and that there is nothing shameful or shallow in thinking about it or wanting to get more of it, or even not having very much of it at all.<\/p>\n

Most of us do carry some negative feelings about money and it\u2019s difficult to move forward without finding a way to reframe those feelings so that we can approach money without fear or shame.<\/p>\n

For example, you might believe that money is the root of all evil. Or have a fear of appearing cheap or poor. Or feel like it\u2019s unseemly to demand to be compensated for your time or skills.<\/p>\n

Think about any negative ideas that you have about money or your relationship with it and look for ways to adjust your thinking.<\/p>\n

You can take charge of your money and make sure it\u2019s serving you instead of leaving you feeling helpless to deal with it. The key is to understand what you want out of life and find ways to use your money as a tool to make it happen.<\/p>\n

 <\/p>\n

The FREE PickTheBrain “90 Days to a Better You” eCourse was built to give you more confidence than you ever thought possible. You get one confidence boosting email a day, a motivational quote, and a photo to inspire you – all for Free<\/p>\n

Join us today…<\/p>\n

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Tracy O\u2019Connor blogs about ghostwriting<\/a> and living a better life<\/a>. Follow her on Twitter<\/a>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

You don\u2019t have to be a Wall Street wiz kid – all it takes is being mindful of when you spend your money, why you\u2019re spending it, and what your true goals really are. 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