No more ex­cuses for money prob­lems

The Tribune (NZ) - - BACKYARD BANTER -

GOLDEN RULES

❚ Iden­tify your money ex­cuses ❚ Stop re­peat­ing them ❚ Make a fresh money start this year

decades ago, an awak­en­ing prompted by the early death of my father.

The ‘‘be­cause I’m worth it/ be­cause I de­serve it’’ ex­cuse is just as non­sen­si­cal as the ‘‘I’m bad with money’’ ex­cuse. They are empty words. Ev­ery­body is ‘‘worth it’’ from the child in a poor home to the multi-mil­lion­aire.

The ques­tion is not whether you are worth it, but whether you can af­ford it.

That’s a tough ques­tion. We of­ten in­ter­pret af­ford­abil­ity as meet­ing the monthly re­pay­ments, which is a mis­take. You judge af­ford­abil­ity against your fu­ture need for the same money.

You de­serve to be able to heat your home when you’re 75, but that doesn’t mean you will be able to.

The choices you make now, whether jus­ti­fied by ex­cuse or clear-eyed strat­egy, will play a big part in de­ter­min­ing whether you will be able to get your heat­ing desserts at 75.

New Year brings a mo­ment each year to draw a line un­der the old ways, and to do things bet­ter. In­stead of mak­ing res­o­lu­tions this year, stop re­peat­ing your ex­cuses.

Many of the ex­cuses we make for be­ing bad with money are just lies we tell our­selves.

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