Are You Not Respecting Your Money?

Each month you get a bank statement and instead of opening it right away and checking for errors, you throw it in the pile with the other unopened bank statements gathering dust somewhere. NO RESPECT.

The insurance renewal arrives in the post. You have a quick look over it and pay the increased yearly amount, without even trying to find a cheaper option. NO RESPECT.

A good friend invites you on an interstate holiday six months from now. You say yes right away prior to sitting down and checking if you can afford it. Without really thinking about your financial position, you accept. NO RESPECT.

You live pay cheque to pay cheque with no home budget. You do not allocate money each month to different areas of your life. You just pay bills as they come in and as long as the electricity never gets shut off, you're happy. NO RESPECT.

Your yearly superannuation statement arrives. You don't even bother to check how much it has gone up or down in twelve months. There is no thought on whether this is the best option for your needs. NO RESPECT.

You have never really worked out how much all the debt you have on credit cards, home loan, car loans and interest free loans is really costing you. It's simply something you have never thought about. NO RESPECT.

Your answer to people who ask if you are saving for retirement is "I'm young, retirement is ages away" or "Life is for living and you can't take money with you". NO RESPECT.

You get the idea. The same people who do not respect their money tend to be the people who have a bad luck money incident at the wrong time. Just when their bank balance is really low, the hot water system breaks down, the car's tyres pop or the fridge motor stops. And as they are scrambling around for a short term solution to their problem (usually more debt), they ask the famous question: "Why me?"

But I have a theory as to why some people just don't have respect for their money. One word: "fear". They are so scared that if they sat down and worked out their true money position they would be horrified at the black and white figures staring back at them. It would be the equivalent of a sledgehammer hit to the head, emotionally speaking. They continue to kick the can of NO RESPECT for their money further and further down the road. This way they will never have to truly confront that feeling of knowing their money position is nowhere near as good as it should be.

Just like everything else in your life, money requires your full respect. Don't respect it and money has a way of moving away from you. Start respecting it and you will find it starts to come back to you.