Tuesday, September 13, 2011

Pitfalls to my Financial Motivation

Out of focus, darned cellphone camera! Aren't these colors amazing though?

When this blog was a wee bit of babble I used to discuss finance all the time. Even though I wasn't in debt, I didn't have much to call my own. One of my favorite blogs was http://www.thesimpledollar.com/, run by Trent.

At the time he had one child, worked full-time and had experienced a financial bottom. After a while my financial house was in order while he had two more kids, wrote a few books and quit his job. I stopped reading because I had this. I was making more money than I needed and didn't have debt. As far as I was concerned, as long as I kept that up everything would be fine.

Here are the pitfalls to my money motivation:

1. Not having long-term plans.
Trent planned on having a large family with vacations and a retirement home in the country. I budget for my yearly trip to see my parents.

2. Complacency
I haven't had a steady job since I was laid off in 2008. I haven't even really wanted one. Freelancing lets me make more than I need for everyday life.

3. Lack of Competition
I don't want a new car. I don't want a bigger tv. I don't want an iPhone because Virgin Mobile is $25 a month and I'd rather see that on my credit card bill than an iPhone every day. When you are happy with what you have the cost of upgrading becomes a non-issue.

4. I am a day dreamer
I like sitting at home and crafting. I like tending my roses. I like looking at each day as a separate event to be planned as it arrives. I lack structure.

Periodically I do get antsy and feel like I need more money. I am taking that class at FIT next month and that should bump my hourly rate. I like my job space but I'm not passionate about it.

So here are two quotes from a recent Trent post:

“Happiness is not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort.” – Franklin D. Roosevelt

I agree with this statement because everything I do is creative.

“The man who does not work for the love of work but only for money is not likely to make money nor find much fun in life.” – Charles Schwab

I don't volunteer to do any of my projects, even if they are fun. I do them because I get paid. Am I being too complacent? Should I want more money so I can buy a retirement home one day too? What are my financial dreams?
Roses are so perfect

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