A Woman’s Perspective: How To Be Aware of Your Financial Status

What will it take for you to be financially aware?

I have had many conversations lately about the need for women to be financially aware. The only way that we can productively employ our finances is if we are aware of their existence, their capabilities and the opportunities they can open up for us.

Money is a creation that leads to possibilities. It is an opportunity creator. It allows us to purchase things, create a larger social status, as well as complete our deepest materialistic desires. What we choose to surround ourselves with reflects our inner selves, and so the materials that we choose to buy with money is a conscious decision that we make. This is all possible when we take control of our finances, i.e. money, and create these possibilities.

Money also allows us to make more money. Doesn’t that sound awesome? It’s like if Alladin rubbed the lamp and made a wish to have more wishes! Money allows us to expand itself, only if we have the tools to be aware of it and direct it onto the most contributive avenues. In simple words, we can invest our money into those possibilities that lead us to make more money so we can be a contribution to our lives and to a world we know is possible but that has not yet been realized. The more money we are willing to have and create the more money we can use to invite the world to different possibilities.

So how can we increase this potential, for our personal growth and for the world at large? The first step to achieving this is to become more aware of money and our finances. This is divided into the money we have, the money we need to spend and the money we desire to have.

What is the money we have and are earning?

The money we have is simply, our savings, and the incoming flow of cash.

If you have a family, then be aware of what your partner’s earnings and savings are too, or if you share an open relationship with more members of the family, be aware of the rest of your family’s savings and earnings.

Get an idea of exactly what amount you earn. This may sound like something you are already aware of, but it never hurts to take another look at it. Check your bank and investment statements, check your salary and check your savings. Sometimes it so happens that we depend upon other people to review our statements. That is fine, but check them yourself as well, this allows you to take control of the situation at any given moment, if required.

What is the money we need to spend?

In our lives there are certain things we need to account for, the unavoidable expenses.
As human beings we need a house to live in, food to eat and water to drink, as well as clothes to wear and other important expenditures.
Make a note of all the necessary expenses you have, and how you take it out of your earnings and your savings. Things like rent, electricity, clothes and grocery items will be common.

As soon as you make an account of this, you are making your mind aware of where your basic money is going. You are making your body aware that the work it does is for a reason. The next time you eat your food, or watch TV, you will be aware that this is a direct result of the work you have done, of the money you have earned.

What is the money we want to spend?
The items in this category are simply, our desires.
On what luxuries do we want to spend our hard-earned money?

Maybe a meal in a renowned, expensive restaurant, or that Gucci bag you have been eyeing for a while.
It is very important to spend money on what you want and desire. Life is not just about the bare necessities, but also the pleasures of material gains. We should look into the patterns of how we do or do not give into these desires, and again, be aware of them.

Once you have answered these questions, you need to think about how you will be answering these questions in the future. Simply put, you need to make a plan as to:
(i)  How much you want to earn
(ii)  How much you need to spend on necessities
(iii) How much you choose to spend on your wants and luxuries

Decide on  set amount that you need for necessary expenditures. Decide on a set amount you choose to spend on your wants. And finally, this will lead you to the amount you choose to save. This is being truly aware of your finances. The next step is how to make your savings multiply into more savings.But this will never be possible until you know how much you save, or until you take control and decide how much you choose to save.

What are the possibilities of choosing how much money you can save, and turning it into more money?

Kass Thomas

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