What to Do If You’re a Slave to Money
Is money the root of all evil?
It’s a question that’s been asked time and again. But if you look at the original line, it clearly says it’s the love of money that is the root of all evil.
What you need to remember is money isn’t inherently good or evil or even something in between. Money is just money. However, you could have an abusive relationship with it, which may include enslavement.
Knowing If You’re a Slave to Money
Have you ever felt like you’re just living paycheck to paycheck and that it’s a never-ending cycle? Do you feel like if you just had enough money or more, everything in your life would be great?
Keep in mind that even rich people can be slaves to money. Some of them do equate money with happiness. They work and work and work to get more money instead of working to derive satisfaction from what they are doing.
The clearest sign you don’t have a good relationship with money is if you put it before yourself. If you find that you’re chasing it to the point where your health, wellbeing or time with the people you love become secondary, it’s time for a change.
Breaking the Cycle
Do you know how many people don’t like their jobs?
If you say more than 50%, you’re right. A lot of people are just not engaged or if we’re to be frank, just downright hate their jobs.
And if you’re one of them, you have to ask yourself this, “have I ever had a job where I didn’t feel the same?” Because if your answer is no, you’ll probably hate the next thing that comes after that. And the next one.
And the one after that. You just have to realize that every job has the potential to be fun. But it’s up to you to make it that way – to infuse it with meaning and passion.
Consider Challenges as Opportunities
Our thoughts have the power to dictate our reality. We change the way we think about an experience and our feelings naturally follow.
Going back to our job scenario earlier, if you don’t like your job but can’t quit yet, you can change your perspective. Don’t just think of it as a vehicle to get money.
Doing that doesn’t just make you a slave to money, but to your job as well. Consider your present situation as an opportunity for growth. It may not be ideal but it will motivate you to do something about it.
The more you consider yourself a slave to the system, the more you’ll feel helpless about doing something. Keep yourself motivated and stay away from a victim mentality.
Practical Ways to Prepare for the Future
So far, we’ve been emphasizing a change in mindset, which by the way, is also excellent for keeping to your personal growth goals. But you also need to think bigger.
Don’t just accept things as they are. Do something about it. If you’re in a not-so-ideal job, there are ways to get closer to financial freedom.
Practical ways such as saving a percentage of your paycheck. Most recommend the 10% savings rule. Although sometimes, there are cases where 10% may not be possible or enough.
What you can’t do is spend all of your money on things that give you short-term gratification. This will only perpetuate the slave to money (or paycheck) situation. You won’t be able to leave your job or stop working because if you do, you’ll have no source of income.
It’s fear-based, which is a long way away from what true financial freedom looks like.
Be the Master of Your Money
That 10% will add up over time. There are times though when you might have to use it for emergencies.
This is where investments come in. You can put it in the stock market or real estate. Another way to put money to work for you is to start a business. Don’t worry, not all businesses have to be expensive.
There are even businesses you can put up with almost no cash. Or you can start doing side jobs while still working full-time. The idea is not to quit your job so you can start a business.
It should be the opposite. You do side jobs or establish your business little by little so you can quit your job.
Review Your Finances
A true slave to money will quit reading this after seeing saving 10% and investing. Because where can someone get that money if he or she is already having a hard time making ends meet?
If you’re still here, good for you. Even if you’re struggling, there are ways to get money for your savings, investing, and starting a business. And it all begins with studying your spending habits.
Aside from basic necessities, are you spending on goods you don’t even need? Would it be possible to downsize your house or even your car?
What about stuff you no longer use? Should you just let them gather dust or can you sell them? If you’re serious about being a slave to money, your job, and your paycheck, consider being honest about your finances and whenever possible, live below your means.
Always Be Grateful
If you hate your job, your means of getting money, sooner or later you’ll come to resent everything associated with it.
In fact, it wouldn’t matter how small or big your paycheck is. If you hate your job so much, it’s going to eat at you.
So really, it’s all about how you view money that dictates how things will go for you down the line. Money shouldn’t be the thing that defines your worth. Some people have all the money in the world and yet, they’re still not happy.
Stop looking at your paycheck as something negative. Think of all the good things it brings. And be grateful. Remember, some people out there don’t even know when they will have their next meal or if they’ll even have another day to live.
Be glad that you have a job, and that every day is an opportunity to change. Someday soon, you won’t be a slave anymore and be the master of your money.
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