Money tip – People
On to the most challenging category – people. Ha. Money and people – the dreaded money fight – we’ve all been there. So, this category lists personal finance tips that can help you with your money as it relates to people.
Talk about money with your spouse
If you share a home with your partner (boyfriend, spouse, etc.), it’s really important you talk about money together. Being in a relationship with shared money means that you need to talk about money and make financial decisions together.
Have transparency about your money
Whether you have joint or separate accounts does not change the fact that if you are sharing money with someone you should have complete transparency about your finances. Honesty is key to building a life together and finances are not an exception.
Teach your kids about money
If you have kids, it’s important to teach them about money. Personal finance isn’t taught in school usually, so you are their only resource for learning about money.
Don’t try to keep up with the Joneses
Stop comparing yourself to other people. Doing this is going to leave you feeling bad. Instead, practice comparing yourself to where you were in the past, so you can see your progress into the future. You’ll save money by focusing on yourself and not your friends.
Be okay with saying “no”
Learn how to say “no” and be totally okay with it. This will give you more time and more money for the things most important to you. If you don’t decide to do this, you’ll be spending money and time doing things you don’t want to do at all.
Spend time with people who have good money habits and beliefs
You’re the average of the five people you spend the most time with. If you get around people who make good money decisions and have good money habits, they will rub off on you, too.
Until next time.
The MoneyShop Team
This article has been prepared for information purposes only and it does not constitute legal, financial, or medical advice. The publication, journalist, and companies or individuals providing commentary cannot be held liable in any way. Readers are advised to seek legal, financial, or medical advice where appropriate.