My father used to give me 20 rupees (Indian currency) when I asked him for 10 rupees. I never understood why. Learning about money was never my first priority but earning it was. I have been trying to understand how to earn and use the money for a better life. I am trying to learn more about money because I am looking for answers, to find the purpose of money in our life.
This post includes 5 such questions about money that one must answer. I have tried answering those here too.
1. What's the meaning of money to me?
My Answer:
At times it feels like money is everything. I used to be scared of losing my job because I might not be able to pay my home loan, I might not have enough to survive. And the worst happened, I did lose my job but I was fine. I struggled but I made it.
And when I did make it, that’s when I started taking money seriously. The books I read and videos I watched helped me understand that money is just another tool that will help you live this life. Money is merely a tool to exchange services to better your life. Nothing more.
2. Can I survive without a job for at least 6 months?
My Answer:
“Save money and money will save you.” – Anonymous
The fear of losing a job is very much true, I have gone through those sleepless nights when I lost my job. To better prepare for financial uncertainties, most experts suggest building 3-6 months of emergency funds.
Personally, knowing that I can survive for at least 3-6 months without a job, gives me a sense of security.
3. How much money is enough for me?
My Answer:
“Money isn’t the root of all the evil. GREED IS.” -Anonymous
If you don’t know how much money you need then no amount of money will be enough for you. This question is really hard to answer because no one can predict our future.
I am trying to answer this question by tracking how much I have been spending every month for the last 2 years. Knowing how much I spent in the past could help me answer how much I might need.
4. Do I want to be in debt forever?
My Answer:
I have started to hate debts in recent years because they make me anxious. Debts will force you to work forever and never give you a sense of freedom. Taking debts for your wants might make you happy at the moment but will occupy your mind until they are paid in full with interest.
I have tested freedom, I have paid all my debts and owe nobody. I don’t want to be in debt forever. The only debt that I am willing to accept is for home but with the promise of paying it way early in whatever way I can.
5. Can I buy happiness with money?
My Answer:
Jim Carry answered it well “I think everybody should get rich and famous and do everything they ever dreamed of so they can see that it’s not the answer.”
Yes, money can help you buy a new flashy car, a brand new phone, or trendy clothes but if you are not happy within you will still be miserable possessing all those new things.
I would rather use the money to buy experiences than spend it on materialistic things. So, I definitely can’t buy happiness with money but If I know I have enough then I wouldn’t have to constantly worry about it. Which definitely can contribute to my and my family’s happiness.
Conclusion
“Asking the right question is half the answer.”
People hate to talk about money, let alone ask questions about it. These 5 questions were hard to answer for me too. These answers are my own based on the environment I grew up in, the life experiences I have had, and the continuous learning about money through multiple resources.
Some of these questions were really hard to answer because they would bring forth the ugly truth that I wasn’t managing my finances very well. I still make mistakes, I still make bad purchases but I am far better than what I was. I guess that’s what matters in the end, finding answers and growing.
