Just because of what position they’re in on the Forbes Richest list or how many twitter followers they have. The same applies with regards to how consumerism is somehow rewarded socially.Many people seem to have this idea that the more you own, the more respected and admired you are.Mental accounting (video) is the idea of separating money into different accounts based on how it was acquired or where it came from.
I prefer to use a little ingenuity with regards to how I handle budget plans.
The benefit of this model is that it can help you build and strengthen your ability to delay gratification regardless of how good or poor you may be at budgeting. If you earn £1,800 a month and after you’re left with £320. You now need to assign a % ratio that you’ll use to split your disposable income into two separate accounts. Don’t punish yourself by assigning a 10%/90% split in favor of saving money, especially if you find it difficult to save money each month.
However what’s comical is how we are judging each other by a perpetually changing and ever-expanding set of parameters, attributes and qualities with regards to finding a suitable mate to have a relationship with.
Not that this is wrong per se, but it seems like everyone has become an expert at playing ‘compare and contrast’ that we are now beginning to disregard others who lack qualities that contribute little to no value towards what makes a relationship truly great, in the name of ‘preferences’.
If you’re spendthrift, and struggle to save money regularly, I would advise you to split your disposable income by a ratio that you’re most comfortable with. You will undoubtedly fail to reach your money and financial goals if you force a new stimulus upon your mind and body without warning or gradual exposure.
If you are so utterly poor at saving money – I would suggest adjusting the amount you save per month at a minuscule level: e.g.Learning how to solve financial problems begins with your ability to identify what kind of lifestyle are you trying to afford or sustain.And figuring out whether your income can match the demands of that lifestyle.Everywhere we’re surrounded by celebrities and their outlandish lifestyles.However its not their existence I have a problem with, but rather the way they are heralded as holy beings who require your undivided attention.Firstly, you must learn and master the art of delayed gratification.It is a very important life skill which has been touted many times as a prerequisite for success and achievement in life.To delay your gratification means to put off activities which provide you with pleasure in order to complete tasks that are of more importance at the present time.In the context of money, you can learn how to delay your gratification by creating an effective budget plan, that exists to curb your spending without removing all elements of fun from your life.Contrary to somewhat popular belief I believe it can, to a certain extent.But it depends solely on the individual’s intentions behind their need to acquire material assets.