FINANCIAL WELLNESS – ARE YOUR DOLLARS MAKING SENSE?

From rising costs of everyday essentials to the growing burden of sick care costs, today’s economy is making it harder for many of us to stretch a dollar.

Low-income earners, who didn’t have enough money to make ends meet before costs began to climb, are now having it harder. Ask them what they worry about most and the answer will likely be money. “Robbing Peter to pay Paul” often dominates their conversations.

Average income earners bring in enough money but are afraid to spend it. Yet, if you ask them what makes them happy – it’s still money. They talk about playing it safe, about not touching their 401(k)s or other savings accounts. They just feel better knowing it’s there.

The rich's primary concern is whether they’re earning the return they expected on their investment dollars. They discuss “beating the market" and "diversifying my portfolio." Ask them what makes them unhappy, and the answer is money. Too often, they mistake material things for love, only to discover in the end that there is never enough money to substitute for real love.  

Each story reads differently, but they all have one thing in common: none of them truly understand money, and what they don’t know can compromise their well-being.

Here are three things we should all know about money:

1) Money didn’t make itself. Man created money as a medium of exchange for goods and services, and the only value it holds is the value we attach to it.

2) Money is not meant to be hoarded; it’s meant to circulate. Circulation keeps goods and services flowing to us and others. Just as we need food and water to nourish the body, our lives need financial nourishment.

3) Money is not “the root of all evil.” It’s the intention and character behind money that make it evil. The same dollar that funds a children’s hospital wing can, in different hands, fuel childhood exploitation.

Yes, rising costs are creating real problems, with real structural and political causes. And if you want to thrive, you have to change the way you think about money by moving from scarcity thinking – “there’s only so much to go around, so I need to hold onto what I have to guard against loss,” to prosperity thinking - "there's plenty to go around, and I’m worthy of receiving my share.”

By economic measures, I grew up in poverty. Our household was often short on money, but my mother was long on faith. Although I didn’t realize it at the time, I was surrounded by prosperity thinkers who understood what the words "sufficient unto this day" meant. They lived by their beliefs, and somehow, it always seemed to be enough.

Prosperity thinking changes your relationship with money. You begin to understand that life is not measured by what you own, but by how well you keep the essentials - air, food, water, rest, love, time, and yes, money - circulating in and out of your life each day. You know that if you have these things, you have enough.

So if you want to thrive, try the small change ABC Approach to thinking and living prosperously:

·         Acknowledge the blessings that flow into your life each day by starting a Gratitude list.

·         Believe in universal abundance, that you are worthy of receiving your share.

·         Circulate what you have - prosperity is flow, not stockpiling – bring life to your money.

In the meantime, here are a couple of questions to ponder this week:  

What’s your money story? On a scale of 1-10, where would you rate yourself on how well you are making your dollars make sense?

Be Grateful; Be Well!

If you need help making your dollars make sense, I’m here to help. Contact me at smallchange@myrtlerussell.com.

For additional wellness tips, subscribe to my small change Weekly Wellness Tips at https://www.myrtlerussell.com/contact-us.