What I learnt about money the hard way.

I’ve been in the finance industry for 13 years this December and I’ve seen A LOT of different financial situations. Different incomes, different spending and different family dynamics. Once thing is certain - over time you start to see patterns and can pretty much identify someone’s money weakness or strength pretty quickly.

 The challenge is that some people aren’t ready to have a look at their situation because of fear. And I’m not just talking about low-income earners. Many admit “I have my head stuck in the sand and just don’t want to look”.

 On top of this direct experience is my personal one. I started out (many moons ago) as a single Mum at 20 (photo above ;)) without any financial support, so I’ve made many fantastic and some pretty crap decisions about money myself.

 But this month, I wanted to share with you what I’ve learnt about money. These are my top learnings:

  •  If you don’t actively manage your money and instead live on your bank account balance it will not work (oooh look there’s money I’ll spend it).
  • If you don’t respect your money (by having a plan) it will always flow through your fingers and you’ll never manage to get ahead (I’m just sooo bad with money I don’t get it !)
  • If you don’t have goals or intentions or an idea of what you’d like to achieve with money it will always feel like hard work and unrewarding. This in turn, makes you feel even worse about your situation and the cycle continues (stuff it, I deserve it – I’m buying it!). Sounds a lot like dieting, right?
  • It’s not what you earn it’s what you spend that will send you broke
  • If a bank won’t lend you money you probably shouldn’t borrow it (okay bank includes any type of regulated lender)
Money won't make you happy.

BUT the feeling of empowerment you get when you are in control of it, certainly will !