What Are You Doing With Your Money?

What takes away money the most.

When you start working and start earning money, a time will come when people will start asking you about what you are doing with your money. Sometimes they ask such question because they seem not seeing any tangible things you are doing with money such as living in a big apartment or taking big financial responsibility. Another reason why people tend to ask such question lies in the assumption that you have nothing you are spending money on.

Truth be told, you are the only one who can answer that question better.  I am going to assist you via this article to help you to take an inventory of how money gets out  of your pocket, and develop empathy for others who you feel are stingy or have nothing to do with money.
Though people may find it difficult to know about what you are doing with your money, the truth remains that you are doing so much with it.

Firstly,  you are paying bills. If you are working, and taking personal responsibility for your living, then you have so much to spend on. You pay your house rent, feed yourself, pay electricity bills, pay transportation to and fro to work every day, you recharge your phone and buy internet data to reach out to your loved ones.  These recurrent expenditures though seem insignificant to so many people, it drains a lot from your income, especially if you are not earning much.

Secondly, one of the ways money goes out of your pocket is by helping those who are looking up to you for financial assistance. It doesn’t matter whether your salary is meagre, the moment people are aware you are working, they will occasionally call you for financial assistance. People in this category include your friends, parents, siblings, and neighbours. Most often, no matter how little you have, you still go out of your way to assist these people with their financial needs.

Thirdly, you are helping your community financially. By community here I mean any group you belong. For example, if you are a christian and you go to church, at one point or the other, you will need to contribute money towards the development of the church. These expenses may be in form of dues, tithe and offering, free donation to certain project and so on.

Furthermore, there are times when you implement certain personal project which demands a great deal of your income. These may include buying a Smartphone, a laptop, moving to a bigger apartment, getting married, starting a business and so on.

Lastly, you are saving for a raining day. No wise person is expected to spend all that he earns without putting at least 10 percent of what he earns into savings. Earning money and spending without saving and investing for the future is a sure path to poverty and a life misery. When you save, you make conscious effort to deny yourself certain pleasure in the present , so that you may reap greater benefit  in the future.

Related: 6 Reasons Why People Remain Poor

Now, by the time you put all these expenses together, you will know that you are spending a lot.
It is important to know that there would be no time when you would stop spending money. In fact the older you become, the greater your financial need. As you grow, and your responsibility increases, you should also let your earning grow.

The key to solving financial problem is not to stop spending money; it is making more money and living below your means.  So when next you wonder about what someone is doing with his/her money, you should consider how much the person is earning, and his possible expenses before you wrongly assume he or she has nothing he spends money on. Also, before you judge yourself as poor or useless, you have to measure yourself with the same yardstick too.

Over to you

What other ways do you think money gets out of our pockets?  Feel free to share your comment using the comment box below this post. Keep scrolling down until you find it.

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