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What is Your Money Reflex?

Posted on | June 20, 2010 | 2 Comments

What is your first reaction the moment money gets into your hands?

Do you channel the money into your future or spend it all on the present?

What is your first impulse, your reflex when it comes to money?

The secret to where your money has gone all these years (what you did with your money) lies in the answer to this question.

Our money reflex determines what we do with money the moment it gets into our hands. It is deeply ingrained into our sub conscious that we don’t even think about it, that is why it is a reflex – a spending habit that has become part and parcel of us.

For most folks, pay day is not a happy day. The reason is not far fetched. The money has been long spent before it hits your bank account. You know before payday that there will be no left over after settling bills (and debt). As expected, by the time the dust settles a few days letter, your account balance is back to status quo – minimum balance. Nothing put aside for the rainy day, or investment. There is no sign of progress in wealth accumulation. Your savings account exists in name only, without anything saved. Once in a blue moon somethings drops in, but less than a month later, its gone without trace. It seems as if the account is hostile to money.


I have wondered for a while why we work so hard to earn our income, and promptly give all our money away so easily. It seems as if spending brings a huge relieve. There is a certain feel good feeling that comes with giving your money away. It is like we are hostile to money. Every windfall that comes our way is rapidly converted into things. Another wide screen TV, a second phone, the latest model car, new clothes, more kitchen appliances, new curtains and furniture, you name it. The money must not stay. It is meant to be spent. The poor is meant to get poorer while the rich gets richer.



I have come to realize that we value things over money. We trade in our money for things. A whole lot of these things are abandoned less than 6 months later. Our kitchens are littered with appliances we never use. Our wardrobes are filled with clothes we hardly wear. Our gyms are filled with equipment we hardly use. It goes on and on. The funny thing is, at the point of purchase, we convinced ourselves that we cannot do without these things. Six months later, some of them are still unpacked. It is as if we prefer to keep our money in the form of things, things that rapidly lose value the longer they stay with us. Things destined for thrash as junk.

Without financial goals, it is natural to promptly convert our cash to thrash – things that depreciate, and eventually lose value (eventually given away, thrown out as thrash or sold for peanuts). Month after month, we accumulate things, making sure that we have no cash left to save or invest. It is a financially self destructive behavior. To regain control of your finances, you have to understand your money reflex, your money/thing ratio and realize what damage you are doing to your financial future by your spending, converting money to things/thrash/junk. Most of what we gave away good money for some few years ago is now junk. This is the main reason the poor gets poorer. He uses his money to buy junk rather than assets. If your money/thing ratio is zero (i.e. zero savings and a house full of things), you are suffering from an acute spending disorder. You need help.

If you are like most folks, living from hand to mouth no matter how juicy your pay, you need to pull over, and develop a plan for the future of your dreams. If you have no plans of financial freedom, you are doing just fine, giving your money away month after month, praying your job lasts forever.

What is your money reflex?

Watch out for the next post – Turning Cash to Thrash…

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Comments

2 Responses to “What is Your Money Reflex?”

  1. Tweets that mention What is Your Money Reflex? : Financial Freedom Inspiration Nigeria -- Topsy.com
    June 20th, 2010 @ 6:24 am

    [...] This post was mentioned on Twitter by Frank Barrett, Usiere Uko. Usiere Uko said: What is Your Money Reflex?: What is your first response the moment money gets into your hands. Do you channel the … http://bit.ly/arQhRg [...]

  2. chinweike
    June 21st, 2010 @ 3:01 am

    Wow! It is true, people easily convert their cash into trash when there is no vision on what to do with the cash. Nice education. Thanks for sharing.
    Cheers!

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