More Money? My Cup Runneth Over...But Im Still Thirsty

Most of us, especially those of us who have debtor's disease (if you have it you know what it is!), have commented or at least thought, "If I could just win the lottery, or sweepstakes, everything would be better." Unfortunately, even if that big dream did come true things probably would get worse instead of better.

It's a strange phenomenon. It seems the more money you have, the more you need. It makes perfect sense. Given more money, most people would increase their standard of living. My question is, "If you haven't properly managed the money you have now, how do you expect that you'll be able to properly manage two, three, four, five or hundreds of thousands times more money?" A good question, huh? Food for thought. Maybe you need to start learning to properly manage what you have now while it's on a much smaller scale. Then you'll be prepared when that big lottery win, or sweepstakes, comes through!

Now you may think this is a crazy, nonsense theory. Surely a million is enough for anyone to be on easy street! I'm sure you have at some time heard rumor about people who fall into great wealth by some means or another, and just a short time later are back where they started or in even worse financial condition. Many of these instances end in bankruptcy.

Not convinced? Let me tell you about my own, smaller scale, experience with this strange phenomenon. Once upon a time, I was a single parent raising four children on an income of just under $20,000 per year. My children did not do without, and while I did begin my journey into debtors demise during this time, I had everything under control. Or so I thought.

By my understanding now, I certainly was not managing my money well. I was not properly preparing for variable expenses or emergency expenses that were sure to arise. Thank goodness for a great family infrastructure that gave help and support when needed! My monthly payments were well within my income, including debt payments. I monitored my debt to be sure I maintained a comfortable debt to income ratio. I felt that I had the proper perspective on my finances.

It was not until the household income increased due to marriage that I somehow lost that perspective and my real problems began. I blame a good deal of this accelerating financial ruin to "over confidence." This "over confidence" lead to an arrogant disregard of proper money management. Looking back, you know hind sight is 20/20, if I knew then what I know now, I would be way ahead of the game!

Since my new husband earned more than twice the income I had, I quit work to become a stay at home mom. I've been working since I was fourteen years old (and I'm no spring chicken now) so when he expressed the desire for me to stay at home with the kids, I jumped on it! But, this was not a contributing factor to my financial demise. It was the mindset I acquired when the household income increased.

My mindset was this, "If I took care of a family of five on my near poverty level income, surely I have no financial worries now." Life was good! At least for a while. Our standard of living changed of course. Typically, my cup runneth over??and I thirsted for more. Now we could afford to charge those things we "needed?" (I question it because, my definition of this word has greatly changed) and wanted without fear. I had that fear before. The fear of not being able to pay back the debt. I believe that's why I kept it under strict control. With that fear now gone and a new sense of false security replacing it??..debtor's demise set in quickly.

Before I knew it we were living paycheck to paycheck. Sometimes, I even found myself juggling funds around to make the budget balance. It didn't seem like so much money any more. I can laugh at myself now that I understand exactly how it happened. That delusion of grandeur mindset I had let little ol' me fall into. After all my research, I now know that I am not unlike millions of other people in this world. It's an easy mindset to get into. This is why more money will never make everything better until you learn to manage first and then spend.

Your best preparation for that big winning day is to start planning now. Even if that big money dream never comes true, you may be surprised what a little forethought and planning can accomplish. A good debt free spending plan and monthly budget that encourage frugal living will, at the very least, provide you with more financial security and independence.

Why heck, if you're young enough, you can plan your way into millionaire status. It can be done. It has been done! It's the guy next door who you may not even be aware classifies as a millionaire. He or she probably doesn't brag about it, and their lifestyle doesn't hint of it. But I bet that's one happy, stress free, millionaire who has everything he needs and wants. He's probably just about the nicest person you ever want to meet. Simply because he manages his money and refuses to let his money manage him!

So what are you waiting for? Quit wishing for more money and make a plan to manage and take control of what money you have!

Good Luck and Success

Live Debt Free to Be Free. You Deserve It!

Cheryl Johnson is a mother of four helping herself and others become and stay debt free. Publisher of Simple Debt Free Living at http://www.simpledebtfreeliving.com - A self-help plan, ideas, and resources for debt management, household budget planning, frugal and debt free living, and extra income opportunities Money Saving tips to maximize savings everyday, reduce expenses, and encourage debt free living.

---

How to Choose Wisely a Credit Card

So, you've made the decision to apply for a credit... Read More

The World is Not Enough - Calling for a More Ethical Approach to Personal Finance

At a time when the entire world's attention is focused... Read More

Financial Security

1) HOW TO LOOK FOR A JOBA) The Chronological Curriculum:1.... Read More

Planning Your Financial Future

Millions of people give a lot of thought to financial... Read More

Identity Theft ? More Tips on How it Can Be Avoided

Recent security breaches at several credit card companies continue to... Read More

Save Money Off Your Home Utility Bills

Many don't realize that our basic utility bills provide the... Read More

Money Matters - Really!

One of the biggest challenges facing black RELATIONSHIPS today are... Read More

How to Balance Your Checkbook ? Get a Calculator and Pencil and You are Ready To Go!

Despite how easy it is to balance a checkbook, very... Read More

10 Tips to Make Sure Your Financial Budget Will Succeed

You've analyzed your past expenses, put them into spreadsheets, loaded... Read More

Money Matters: Strengthen Your Marriage by Putting Finances in Order

Did you know that 43% of all married couples argue... Read More

How Electronic Checks Work ? Will Paper Checks Eventually Go Away?

Traditional checks probably won't disappear anytime soon, but processing checks... Read More

The Origins of Check Writing

People haven't always written checks to buy goods and services.... Read More

Kundalini Lessons - Money

I've been going through and interesting growth period lately that... Read More

How To Place an Online Order for Checks ? It is Easy as 1-2-3

If You Have an Existing Account and 5 Minutes, You... Read More

The Benefits of Banking Online

How many drawers did you have to look through to... Read More

What is a Traditional IRA?

With a traditional Investment Retirement Account (IRA) you pay taxes... Read More

Resources to Help You Learn About and Protect Yourself from Identity Theft

There is a new bill that is being passes, it... Read More

Eight Ways To Sink Yourself Financially

1. Don't focus on your finances.The reason most people get... Read More

Bankruptcy Laws Get Tougher - More Expensive

If you've been thinking about filing for bankruptcy, your best... Read More

Is There A Retirement Crisis?

When people speak about the increasing age expectancies, they generally... Read More

How To Get Ahead On A Low Income

Do you struggle from week to week trying to make... Read More

Your Dry Cleaner?s Double Standard

Women are charged more for dry cleaning services. Don't fume,... Read More

How To Free-Up 10% to 15% of Your Income

Would you be interested in freeing up 10% to 15%... Read More

Knowing Me, Knowing You: Why ID Protection Plans Are Flawed For Fraud

ID theft is a major consumer concern, though there is... Read More

Bank On It: Places to Hide and Invest Money

Today I passed a thermometer at a bank that read... Read More

Personal Finance - Have Consumers Had a Belly Full of Personal Debt?

For months, we were trigger-swipe happy, putting our groceries, clothes,... Read More

Government Grants - Beware of Scams

As the saying goes: "Buyer Beware". If you see ads... Read More

UK Graduates Looking Short-Term At Their Long-Term Financial Responsibilities

With almost two thirds of university entrants from England and... Read More

Budgeting is Bothersome

It doesn't take much for you to get behind on... Read More

Chex Systems ? Why Every American Needs To Guard His Checking Account With His Life

Most Americans have been brought up to be concerned about... Read More

Saving Dimes Can Go a Long Way

On the other hand, there are those people who are... Read More

Im Broke, How Can I Afford...

I'm still amazed every time someone comes to me complaining... Read More

More Money? My Cup Runneth Over...But Im Still Thirsty

Most of us, especially those of us who have debtor's... Read More