Financial Stewardship & Elegance; How does the former influence the latter?
Today is ‘Be a Millionaire Day’!
Whilst this may sound a little materialistic and somewhat vulgar taking into consideration the current global crisis, the concept actually runs much deeper than being solely related to the amount of money that we hold in our bank accounts.
It also relates to treating ourselves like we are worth a million dollars, from taking exquisite care of our mental and physical health, to surrounding ourselves with those that support and inspire us and, of course, not putting up with being treated like a doormat!
But for us to be wealthy in a holistic way, then it must also include the subject of money. Now, being of British nationality, I don’t normally discuss this subject other than with my nearest and dearest, but I do want to address the importance of financial stewardship and the part that it plays in being a self-assured woman.
Firstly, it’s very easy to spend just a little more than we should every month, in fact the economy rather depends on it and, arguably, encourages it.
It may not seem all that much at the time either but this, coupled with the effects of compound interest (if you don’t clear the balance every month), can lead to devastating results.
Secondly, whilst you may feel that money isn’t really that important, not getting into debt is absolutely crucial. Why?
Because one of the main consequences of living with debt is the prison that one becomes entrapped in, such as:
- Needing to be employed by a company that doesn’t appreciate its staff
- Having to work with a boss/team with whose values are different
- Working crippling hours to service the debt
- Limited time available to spend with our loved ones
- A lack of time to give back to our community through charitable work
- Little time to look after our physical and mental health
- No spare cash for enjoying special celebrations with friends
- Unable to invest in hobbies and interests
- Unable to support ourselves in the event of an unexpected crisis, such as Covid-19
Sadly, our society has encouraged debt by making it very easy to borrow on high interest credit cards. This, coupled with the pressures of looking good on social media, means it can take a lot of willpower to not be seduced by the immediate satisfaction of a purchase.
However, as hard as this may be, it’s not as difficult as the opression of worry. Peace of mind is infinitely more pleasurable, and acquiring savings is, I believe, an important part of building the foundation of a self-assured and confident woman.
The global pandemic has resulted in many people who are worried about what the financial future holds. I pray that each and every one of us is able to overcome this and, whilst we may not be able to live in the same way as before, may we find a new way of living in a simpler way, and in accordance with what matters to us.
I also hope the art of financial stewardship will one day be taught in school and in real-life relatable terms rather an abstract calculation of compound interest written on a blackboard!
Any financial decisions we make can and should be in line with our values and beliefs. If we make decisions that are not in line with these then we may feel ‘out of whack’ and disengaged from our lives, leading to both physical, mental and often relationship problems.
Discipline is one of the most important factors in establishing a strong foundation of who we are and what we value. The result of this is an inner confidence that no Louis Vuitton bag can ever provide!
“Annual income twenty pounds, annual expenditure nineteen pounds nineteen shillings and six pence, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”. Charles Dickens.