There Are Only 5 Uses For Money
Only 5 uses money for and here it is: Giving, Living, Margin, Debt, Taxes.
Money is a tool and it can be used for good or evil. Money is not evil, in fact money elevates communities, and makes room for human flourishing. Money may be a test for you as it has been for me.
Giving can be formal or informal. Giving can be intentional or responsive to a need. Giving is choice to sacrifice in one area to provide to someone or a cause. Giving is powerful part of the money process and it has the power to change a person.
Living is food, shelter, healthcare, transportation and other basic needs plus entertainment. I would caution to clearly think about the total costs of ownership of cars, boats, homes and other things purchased. It is not just the upfront costs or the monthly payment.
Margin is what is left over in the budget or what is intentionally planned in the case of savings and retirement funding. Margin is necessary over the long haul to be successful and prosper. What will you do with margin says a lot about your values.
Debt is both home mortgage and other consumer debt such as vacations, cars, boats and unexpected crisis loaded up on credit cards. Debt will reduce other opportunities to give and live.
Taxes can be planned and paid as not to create a crisis. Young business owners often get caught in a tax trap of "catch up" as they start making money and not properly deducting and submitting payment to the US Treasury. Get help from accountants, and other advisors.
If you are having difficulty in one or more areas consider getting coached to get accountable, cleaned up or motivated to deal with the issue properly. Life coaching or financial coaching is growing and with busy lives we all need perspective and wisdom.