Money management

Effective Money Management Isn’t Just About Money

This morning I made the decision not to put the $7 I had in my wallet into our Adventure Fund. Instead I spent it on a want rather than a need.


This could be seen as counterproductive to my TFC intent and purpose of achieving financial freedom through effective money management. However, the thing is, it was very consistent with my motto “Achieving Wealth. The Easy Way.”.


Instead of saving the $7, I bought a Big Issue from one of my local vendors. The Big Issue is a non-profit organisation “dedicated to supporting and creating work opportunities for homeless, marginalised and disadvantaged people”.


Essentially, it provides employment opportunities for disadvantaged people who may otherwise find themselves unemployed.


As a strong believer in empowerment through employment, the Big Issue magazine is something that I like to buy.


Sure, I may not buy it necessarily for its content; but for the smile it puts on the vendors face, conversation that ensues between me and the vendor as a result, employment to the vendors it offers, and consequential warm and fuzzy feeling it gives me inside.


This warm and fuzzy feeling is not something that I get from material possessions, or sipping an expensive red wine or single malt whiskey (that’s a different warm and fuzzy). Consequently, I’ve made a conscious choice to not just cut costs but to prioritise my expenditure.


As I’ve embarked on my TFC adventure, I’ve come to realise what is worth spending my hard earned cash on and what isn’t. Instead of buying $18 bottles of merlot, I now get a $6 bottle of merlot, $7 Big Issue and put the remaining $5 in the Adventure Fund.


Consequently, I now get to enjoy a bottle of wine, help someone help themself, and save money.


This may contradict an extreme frugalists’ idea of effective money management, as perhaps it could be perceived that I should now be saving all of that $18 each time.


However, The Flawed Consumer’s motto “Achieving Wealth. The Easy Way.” isn’t just about money. It’s about being smart with the money we do have to help achieve personal wealth.


For me, personal wealth includes money, health, wisdom and happiness. Consequently, it is not just my aim as The Flawed Consumer to increase my financial wealth. It is also my aim to utilise the new skills I develop along my frugality journey to help improve: my physical and mental health; the depth of my knowledge and wisdom; and, ultimately, and most importantly, my happiness.


Given this aim, I think choosing not to save my last $7 this morning was a wise choice.


Cheers, TFC.

Posted in Kindness and tagged , , , .

The Flawed Consumer is a Gen Y consumer that is on a mission to achieve wealth simply by changing spending and lifestyle habits.

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