Treating Money like a tool

Everything about money is focused on spending and saving it. Parents, teachers and even personal finance books discuss saving money as keeping it, increasing it and controlling it. Saving money involves figuring out ways to get more of it, to build a bigger cushion. This is the ultimate goal.

In contrast, budgeting or cutting back is described as pending money,  we’re even told that we should create habits that make spending painful. Like cutting up credit cards and carrying only cash. We shouldn’t feel good about spending money. For as long as I can remember, that’s how I’ve defined these two concepts: saving good, spending bad. Saving good, spending bad: a common belief, but one that overlooks an important detail.

Then, there was a subtle change in my thinking.

What if we start treating money like a tool? We are to use tools. Not to sit on a shelf and collect dust. Instead of thinking in Treating Money like a toolterms of saving and spending money, I started to think of using it. For instance, let’s say we’ve decided that it’s time to go on a family trip. We’ve saved the money, and the trip fits our plans perfectly.

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When the time comes to use that money, there’s no need to feel guilty or bad.

Instead, we’re using a tool that helps us get something that we really value, time with our family. This shift in thinking is definitely subtle, but it changes our feelings about saving and spending. We no longer need to think in terms of good and bad, positive or negative. Our focused is on the outcome of our actions.

When we treat money like a tool, we can focus on our actions, not the emotions.

We use money for it to be in motion. It circulates from us to other people then back to us again.

Even when we save money, we’re simply storing it for use later.

When we use money today, we’re not spending it or blowing it. Instead we use the best available tool to get the job done. My experience suggests this small shift changes both how we feel and talk about spending. With that change comes a different perspective about what it means to spend money.

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Of course, the shift doesn’t give us permission to blow the budget or ignore our plans. Rather it neatly detours the negative emotions you feel when spending money. We don’t feel bad when we use a hammer to pound in a nail.

We don’t need to feel bad when we use money to pursue our plans and goals.

What is your goal right now that you need to use money for? If you don’t have any right now, why can’t you get across to any us at propertymatters.com? askme@propertymatters.com.ng or call us on 09055522231

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Ory-Martins has been consulting in management and real estate for more than 10 years now. He is Chief Executive Officer of Boeing Luxury Estate Ltd, a foremost real estate developer in Nigeria, Principal Partner, MP Hills Consulting and CEO of Inicreat PMA Ltd, a real estate consulting firm. He is an On Air Personality with major radio stations in Nigeria

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