How I Want My Financial Life to Look Like

My Relationship with Money

I am at My Richest

I inherited $5000 from a Distant Relative

Welcome back to another #MoneyTalks.

This is now the last article related to the Journaling Prompt to Improve your Relationship With Money that I have learned from another user on this platform, which came from the Becoming Who You Are Website.

I guess we can all agree that money is always a topic that would catch our interest because money is essential in our lives. We need it every day in order to survive because life is expensive.

In this article, I'm going to answer the last 5 questions from the Money Prompt just like what I've been doing in my previous articles. So without further ado, let's proceed with answering them.

16. What is the best or most helpful piece of advice you've heard about money?

• I don't know if it counts as a piece of advice but the most helpful thing that I've heard about money is the Savings formula, which is "Expenses= Income- Savings" because, through this equation, I have learned how to save and spend money wisely. I got to manage my budget well through this formula by allocating a certain amount of my allowance first intended for my savings and the rest will be used to pay for my expenses. This has taught me about the value of saving money, that it's not about how much money you can make but it's about how much money you get to save every time you get your income or have money in your hands.

17. What is the worst or least helpful piece of advice?

• I think the worst piece of advice regarding money that I have heard so far is "Spend like there is no tomorrow". I am a saver that is why whenever I spend some of my hard-earned money, I make it to a point that every penny is spent wisely because money is hard to earn. That is why whenever I hear these words spoken to me, I get triggered and I'm easily irritated. I know that tomorrow is not certain that is why we need to make sure that we are living our best lives every single day. However, I also think that we should still spend our money wisely and save some for tomorrow because while tomorrow may be uncertain, tomorrow may still come. So we should learn to save money too so that we still have cash to spend for the next day.

18. How do you talk about money with friends and family? (Do you?)

• Whenever my friends and I talk about money, it's always encouraging and optimistic that all of us want to be rich in the future so that we get to achieve almost all of our goals in life, like getting to travel to farther places. On the other hand, whenever my parents talk about money, especially my father, it's somehow bringing me negative vibes because of his limiting beliefs and mindset. He's always just thinking about today and doesn't care about the future. He believes that money is supposed to be spent that is why he is also encouraging me to withdraw and spend all of my money already so that we get to make use of it. However, I have a different mindset when it comes to money and I'm gonna stick with mine and not be swayed by his.

19. What would you like your financial life to look like in 10 years' time?

• After 10 years, I don't want to be struggling with my financial life Anymore. In 10 years, I want my financial life to not just be stable but also abundant already. I want to have a thriving business that provides me with a favorable amount of income that I can use to expand and venture into other businesses so that I could also provide jobs for other people. I want to have 7-digit savings in my bank account intended for my Emergency Fund and another 7-digit savings for my Travel Fund. I want to always have extra cash intended to help other people, especially my family and close relatives.

20. What is one thing you could do today to improve your financial life?

• One thing that I can do today to improve my financial life is to take advantage of the free time I have to have side hustles and always be on the lookout for great opportunities so that I could earn money as early as now, and that is exactly what I'm doing already. I should use my available resources to start something that I want to do in the future because if I am really dedicated to doing it, then I should be willing to take the first step now. I can say that with all the things I am doing now, I'm already doing something to improve my financial life, and I will do everything I can to achieve the kind of life I want to have.

And that's the final answer!

If you have read all of the articles I have written about Money Prompt Questions, thank you and I hope you got to learn a thing or two from me. Cheers to achieving Financial Freedom!