1st Crucial Secret About Money

by Nancy on February 15, 2010

Money Secret #1 – Money won’t stick around where it isn’t wanted.

Well, that’s silly – everyone wants money. And while it’s true that everyone may SAY they want money, let me ask you something. How do you treat something that you really want in your life?
If we really want something, we cherish it. We respect it and show appreciation for it. Does how you’re handling money show that you respect it.

To respect money – you must manage it (pay attention to it). Here’s where I made a classic blunder. In the past, I always told myself I would manage money someday when I got money.

That’s like saying, “I’ll start exercising when I lose weight.” You want the result before doing the work.

You must start managing what you have. And this doesn’t mean any specific savings or investment plan. It means putting money aside for the things that are most important to you.

Most of us pay our bills first because that’s what we’ve been taught is the responsible thing to do. But what happens after paying your bills for 50 to 60 years and you have no retirement savings. How responsible is that?

I follow a money management system that recommends putting 10% of after tax income in different accounts, such as: Give, Learn, Play, Long-term Savings, and Financial Freedom.

While I haven’t always been able to do the exact 10% allocation, I have made sure I put something in each account. The principle to remember is – it’s not about the amount, it’s about the habit.

So start managing (respecting and paying attention to) your money and watch what happens.

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