I’ve been on a money journey this past month (as I’m sure you can tell…). While we are still very new on this journey and are still learning new things everyday, I’ve been spending some time thinking about all the ‘money lies’ I’ve been telling myself over the years. These are my sad excuses for why we didn’t kick out butts in gear sooner, or why we had a bad spending day, it’s the water I liberally give to my bullshit garden. So many of us do this, and in so many areas. I also tell myself weight loss and eating lies, I’m pretty much a professional at telling myself sad sorry excuses for why I don’t reach my full potential.
But I digress, today I’m sharing with you my top 9 money lies, and maybe some of them will sound familiar to you too!
- I’m not ‘good’ at saving money. Ugh. I say this all the time! It needs to stop. It’s not that saving money in its self is a skill that one learns, it’s stopping the spending and finding the money that you want to save. The problem being that we usually do find the money, we just spend it, using the excuse that we’re bad at saving. If I suck at something and that’s that, why would I try to put in more effort on learning better ways? I remain stuck.
- I ‘need’ to buy this. I’ve used this excuse for everything, from a loaf of bread to a funny t-shirt. So, I’m not good at saving and I think I need stupid things (although buying food is a necessity, the t-shirt isn’t), when really I NEED to save up money to have a back up when needed, to have an emergency fund and to do cool and fun things one day, or buy things that I actually DO need/want. Most of the shirts I buy end up getting donated before too long anyway, along with most of the other crap I buy on impulse.
- If you have good credit, you can buy anything! HA! I’m barely scratching the surface of how I feel about credit cards and loans with this one. Half the stuff in our house was bought with credit (there are a couple credit cards I actually DO like, too). And we totally fell into this idea that you can get anything you need/want with credit! But before we knew it, we were swimming in debt and astonished to learn that what we are currently dealing with in our finances is nothing compared to most Americans. The average American is almost $10,000 in CREDIT CARD DEBT. Just credit cards alone! And after you accidentally miss a payment or realize too late you’re in over your head you can’t get ANYTHING on credit! It’s more like, if you love paying hundreds of dollars a month and paying 14% interest (or more) you can have anything you want for a little while, until it get repossessed and you go into bankruptcy! When you start buying anything and everything on credit, you sign up for a lifetime of overpaying for everything you purchased and keep purchasing because its a hard cycle to break. (like people spend all the money they have paying credit card bills and then they have to turn around and continue using those credit cards because they are BROKE.)
- You either have money, or you don’t. This was almost my motto for the longest time! This A. is an awful manifestation to carry around in your back pocket. The universe pretty much replies, “Oh, okay. Well then you don’t have any money!” Also, the problem with that thought process is when you finally work your way to a place where you have some money, if that’s still your motto, you’ll spend all that money so that you won’t have the money anymore! Say that ten times fast?! If you live like you have no money, you’ll always feel like you have no money.
- You need to spend the money before it disappears. This can be either subconsciously said, or sometimes said right out loud. Our spending was so out of control sometimes, that we would try to trick ourselves by listing out everything that was an emergency (read more about that here) and then whatever was life got blown. Hard part about that, was that we kept paying off all of our credit cards and then blow money on silly stuff and then find ourselves broke and pulling out the credit cards all over again. What a silly roller coaster ride is this?! I swear.
- The small debts don’t make a big impact. Remember the word interest rate? The percentage in fine print on that pretty colorful credit card application? The words a loan officer quickly states while making a hand motion like it was a little legal jargon that we don’t need to pay attention to? That’s the first place the little debts make a big impact. The second is that they add up. Almost all of our debts are ‘small debts’ including our house payment(s) are fairly small for houses. We have no auto loans either, and yet our credit reports are pretty grim currently. The small debts make a bigger impact in my opinion, because for the really big expensive stuff you probably sit down for a minute and really consider if you should do this. Meanwhile all the small stuff you do with out giving it much thought because we don’t really think about how ‘small debts’ impact us down the road.
- I was either, ‘good’ or ‘bad’ while shopping. What am I? A dog!? I call them bloopers or screw ups now, which isn’t much better. But making a mistake in a budget doesn’t make you good or bad. It makes you human and you need to remember that it’s okay, but you need to work a little harder next time to make sure you’re doing what you say you’ll do. If you can’t depend on and trust yourself, who can you expect to depend on and trust you?
- No system works for me. Simply put, no system works if you only half-ass it. Almost every system can work for anyone, but you really need to try it. If you’re going for it full force, you’ll find a system that works for you. But you have to make it work.
- You have to be rich to save. Another really backwards way of thinking. You have to save to build wealth. Get real and honest with yourself! That doesn’t mean we’ll ALL be living in the lap of luxury, but knowing you can eat and pay your bills and still have a little fun because you put in the work and saved your money is more the line of thinking that we need to have.
Do you have any money lies? I’m curious to hear what they are! What are your tips for getting real with yourself?! I’m still working on it every single day!
Until next time friends!