BUSINESS & FINANCIAL MATTERS

YOUR MONEY MATTERS

Have you ever stopped to think that what is convenient for you, might be inconvenient to others? In matters of money, if you ask to borrow money from someone, it may be convenient for you to receive the money, but inconvenient for the person lending you the money, especially if you do not pay the money back. Even if you pay the money back, realize that most people have enough money to take care of themselves and their families, so when you ask someone to also include you into the equation, it can be an inconvenience for them, even if they still decide to lend you the money. Don't assume that people have to inconvenience themselves, for your convenience (partner, friends, family or foe). We have to be better financial planners with Our money, so that we don't put our financial struggles onto someone else. We also cannot tell other people what they should and shouldn't do with their own money, especially if it is because we want them to do what benefits us. There was a recent controversy that ensued, out of the rumor that hip-hop artist, Jay Z was going to invest in an NFL team. The media and the court of public opinion was in an uproar over it, because of the support for Colin Kaepernick and some boycotting the NFL. I don't know what makes us think that we have the right to tell people what they should and shouldn't do with their own money, especially when we don't want anyone telling us what we should and shouldn't do with our own money. You do what you want to do with your money right? Then, how dare you think that it is okay to tell someone else what to do with theirs. Jay Z is a business man, who knows that you cannot make changes in the NFL, outside of the NFL, so getting on the inside, would be a good strategic move to promote positive change in the NFL organization. Everyone is entitled to their own opinion, so lets not forget that it is just that, an opinion. Some people can be so strong in their opinion, that they try to persuade others to think like them. Whether you agree or disagree, doesn't make you wrong or right, nor does it make the other person who disagrees with you wrong or right, it just makes it different and that's okay.

Instead of suggesting what other people should do with their money, be a better steward of Your money, so that you can become a lender, not a borrower. Of course, unforeseen circumstances can occur that you did not expect, that could put you in a situation where you have to ask someone for financial help. However, when you know in advance what expenses you will incur each month, it is best to plan accordingly. If it is your bills that you have to pay each month or if you are going on vacation and need to take out extra cash to cover your expenses, or pack the necessary essentials that you will need during your stay, always keep in mind that your convenience of having to ask someone else for help with what you did not adequately prepare for, can be someone else's inconvenience. If you are getting in your feelings about what you are reading right now, it is probably because you are that person who inconvenience others, for your convenience. Let's have a real conversation and take you out of the equation for a second, because this is really something that we should all be mindful of, so lets help you be more receptive to what I am saying. Think about the convenience fees that are charged at ATM machines, or when making over the phone payments, or getting money instantly from your Cash app, is it really convenient for you to have to pay additional money to receive Your funds? When you withdraw funds from a bank that you do not have an account with, most banks charge you a $3.00 convenience fee for Your money. When you want to get money from your Cash App deposited into your bank account, you either have to wait two-three days, if you do not want them to withdraw a convenience fee for allowing you have your money deposited immediately. Are these fees really worth the convenience? Should your convenience be an inconvenience to others?

Let's look at a different scenario. If your checking account is overdrawn and your bank charges you a $35 fee for insufficient funds on a check that they paid for you, is it convenient for you to then have to have the check payment and the additional fee withdrawn from your account, when you do have the money in your account? It may have appeared to be a convenience, because you didn't have the funds in your account initially, but the payment was made for you anyway, however, it costs you $35 extra dollars, or however much your bank charges for insufficient funds. It is like getting a bank loan or credit card with interest fees. You might get the money upfront to be able to make purchases in the now, but it will cost you more to pay the money back with the interest included. A wise man once said, It is better to have Cash, than to have Credit. If you don't have the cash to pay for what you want, either wait until you do, or don't buy it. It is selfish to spend your money on what you want, and then ask people for their money to support your needs. Your money is what should matter to you, not anyone else money or what they do with it.

Have an honest conversation with yourself, if it is difficult for you to take care of yourself financially, why would you think it is okay to place that responsibility onto someone else, when he/she already has the responsibility of taking care of themselves? We have to learn how to stop our convenience from being an inconvenience to others. It is selfish and unfair to others. One way to make your convenience not be an inconvenience to others is by being a better financial planner. Start with budgeting your money and tracking your expenses. Always try to have cash in hand, so that you avoid incurring interest from credit card purchases and convenience fees when you have to get money from a bank where you do not have an account. Take ownership and accountability for Your own money. Don't assume that someone else will take care of you. You can only be upset with yourself, when people do not have enough money to support your needs, because they have to make sure they are meeting their own needs, first. If this sounds selfish to you, think about how selfish it is of you to think that someone else should be responsible for you? Your convenience should not be an inconvenience to others. Lets all do our part at managing our own money, so that we do not have to suggest that other peoples money, should be our money too. YOUR money matters.

Watch the Budget and Save YouTube Video: https://youtu.be/UjTgFYfwgy4

By Jason Torrents