When it comes to money there are two kinds of drivers – external and internal. Let’s take a look at those.
Some people are driven to impress other people. They believe that spending money is a way of gaining admiration and respect. They want to be noticed, valued and accepted. They have an external focus. Their driver for building wealth is to impress. They believe that if they can impress you that you will value them. Having said all of that, is healthy for our self-esteem to place a certain amount of value on the way we dress and present ourselves. As long as our worth is not determined by how wealthy we appear.
There are other people who are more internally focused with their money. They don’t really like to spend money. They can come across as stingy or miserly. But these are not their drivers. Their driver is safety. Having a large bank account and a high level of savings helps them to feel safe.
The goal is to be internally focused enough so that you are saving and investing, and so that you have provided for yourself and you feel safe. This has to be balanced with a contentment around spending to align with your values and goals.
Your self-worth should not be tied to how much money you make or how much money you have. Who you are and what you have don’t define you. New cars and fancy titles don’t define you. Where you live doesn’t define you. What you do defines you. It’s your character.
Decide today to be a person who is good with their money. Become known for it.
3 Ways on How to be a Good Driver and Spend Your Money Wisely
1) Identify your current priorities. Whatever’s central to you is what should inform the approach you take to your finances.
2) Implement systems that support your plan. Once you’ve identified your values, enacting a budget can help ground them and keep them at the forefront of your day-to-day decision-making.
3)Reflect and reassess. As you generate more mindfulness around your financial behavior, you’ll become better at cutting out unimportant expenses.