Respecting your money makes it grow?

[Lisahas2cats]

This may be a no-brainer, but I thought it might be interesting to post for other people's thoughts

Many years ago when I was still working (late '90's), a co-worker of mine attended a financial seminar (may have been Dave Ramsey-based, but I can't remember). The big message she took away from it was that most of us simply don't respect our money, so it "leaves" to go somewhere else where it will be respected more.

The example she gave was that when people complain the most about being broke, if you look in their purse or wallet, you'll find crumpled dollar bills and tons of coins just laying around loose down in there. If you start actually folding your money and putting it neatly in your wallet, and putting your coins in a change jar, you'll naturally find that you start having more money.

I'm finding this to be somewhat true for me, only in regards to my checkbook and debit card. Until December, I was treating our money very disrespectfully, even though I was halfway recording all our spending. Once I started paying close attention to what we were spending, how much we were spending, and writing it down, we're "suddenly" making it through the pay period with a couple of dollars left over (knock wood).

What has ya'll's experience been with this kind of thing? I'm sure it's the same principle as logging your food intake when looking to lose weight....and it's very cool that it seems to work

[CristiK]

[QUOTE] Once I started paying close attention to what we were spending, how much we were spending, and writing it down, we're "suddenly" making it through the pay period with a couple of dollars left over [QUOTE]



Yes! Same experience in our house. DH was always reluctant to send extra to debts because he said we never had enough to make it through the pay period. Now that we are watching what we spend like a hawk, we always have left-over money and he says he does not worry about sending extra even at the beginning of pay period because he knows we are not gonna be in a bind anymore.

[KJayEsq]

My experience has been similar. I didn't start working with a written budget until December 2007 and it has made a huge difference. I haven't even been close to being overdrawn and have paid a significant amount of money toward my debt.

I never thought of it in terms of respecting my money, but that's a great way of looking at it. Thanks for posting this!

[C@rol]

I read about this in Think and Grow Rich by
Napoleon Hill back in the 90's and started
practicing it. Even if you see a penny on the
ground and don't pick it up, money assumes
you don't need it.

Pennies add up to dimes, dimes add up to
quarters, quarters add up to dollars.
The book said your money in your wallet
should always be straighten and orderly
and your purse/wallet should be the same
way.

One of our goals for this year is to pay a
lot more attention to where every dollar
is going.

Works for us.

[Lisahas2cats]

Carol, thank you for solving the mystery of where the philosophy came from!

[C@rol]

You're welcome.

He may not be the only one who has discussed
this in his book. I have read this other places
also.

There is a poem somewhere on it.
If I find it I will post it.

[peanut]

I've found this to be true too. Long time ago...when DH and I were young newlyweds, we had problems with money. But when we started recording it and putting it in nice wallets, it seemed to just like it there. And when we introduced envelopes for different budget categories, it multiplied! Now we are using Gail Vaz-Oxlade's jar system and it seems to be working even better. It just makes me so sad to see those poor jars empty! I just have to find a way to keep money in them!

Jean

[mikandmari]

Really, when you set your mind to it, it's amazing how little money you actually need to get by. I guess we could also consider it that we respect ourselves: the time & effort it takes to make that money!

[Frugal Girl]

Just the organization alone will help you KNOW how much money you have and how much you can spend. This is a great tip and a great way to live! ORGANIZED! WOOT!

[Holly]

I'm one that always has my money going the same way. 1 in front followed by 5, 10, 20's etc.
I always seems to get us through the month.

[eofelis]

Even if you see a penny on the
ground and don't pick it up, money assumes
you don't need it.

I make every effort to pick up coins I find and add them to my coin jar.

I try to keep an attutide that the universe provides abundance to me.

"I thank the universe for the abundance sent my way"

My budget is extremely slim but I don't feel any deprivation, and we always have enough.

I have been going to college full time since 2001. When I started I decided to find ways to get other people to pay for it. I get Pell and state grants, plus I have gotten many scholarships. I get all my tuition paid plus a grand or two left over each semester. Once I got a letter from the financial aid office telling me I had gotten a $2000 grant from some organization I've never heard of. ("I thank the universe for the abundance sent my way")

[PrairieRose]

Suze Orman also advocates this theory. I find it very interesting as well in the way we 'talk' about money and how it either a) scares it away from us (oh I'm soooo broke, I'll never get ahead, etc... ) or draws it to us (positive affirmations like money and success comes to me from all directions, etc.). I overheard a mother and son conversation at a football game not long after I really adopted this theory as a belief. They were talking about some bad luck something that had happened to the son, the son said something like "I just can't seem to catch a break!" the mom said 'now remember John, you GET what you SAY in life'. And he said yes, I know....I just forget sometimes and bemoan things and then things do get worse, don't they.