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What do you want money for?

by Roman on June 12, 2008

This is INSIGHT 8 from a set of rules about how to get rich

If you are reading FinancialJesus.com, you are probably here because you want to get rich.

Everybody wants to get rich!

Before setting your mind into achieving that first magical million you should have a clear vision what to do with the money once you have it.

If you had a lot of money, what would you use it for?

Could it be possible that you want a lot of money for something that you could probably do with a lot less money and a bit more imagination?

If you need money in order to travel, then you could probably do it with a lot less. If you want money to insure the lives of your children if you were to suddenly die, you could probably just sign up for a life insurance contract.

Take care not to save money for something that you could already afford just by changing your mindset.

Things you only get with enough money

There is a vast amount of stuff you can only do or get when you have enough money. This can include things as different as buying expensive supercars or living of interest that your money generates.

Why do you need money?

Money can be a solution to problems but is it also a solution for your problem? Think.

If you truly believe that you need more money you should write down how much do you need and for what. Money doesn’t have any value just by itself – it is only useful when you can exchange it for something else.

If you have a clear idea of how much money you need in order to exchange it for something of real value, you will also know how much you need. Having goals makes things a lot easier!

Paydayloan.org.uk

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{ 3 comments }

Nick June 17, 2008 at 11:16 pm

I’m not sure about you or the rest of your readers, but I know for me, what I want money for depends on how much money I am dreaming about. Pay off some debts, buy a new motorcycle, retire, donate to certain charities, etc…

Roman June 18, 2008 at 10:55 am

Nick, what I had in mind in this article was what would you do if you had all the money you need.
If you only have 5 dollars it’s easy to think of what you will spend it on – food!
If you have a bit more its a bit easier, but if you have all the money you will need it suddenly becomes difficult again!

Nick June 25, 2008 at 9:07 pm

With unlimited funds, I think it could become difficult, but I could easily go through several million dollars before I started not knowing what I was going to spend it on. Especially considering donations, sharing, “trust fund” type accounts, etc…

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