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Does your money control you?

“A budget is telling your money where to go, instead of wondering where it went.” John Maxwell said it first and said it best.

Does your money control you? Or you are you being controlled by your money? Some of you may answer this question as “Yes”, but most of you would answer “No”.  Let me elaborate on this question, does your money really control you?   This money question would show the true priority of your life.  It’s either you control your money or otherwise.

Priorities

Does it make sense? Being controlled by money is something personal. But how can you really say that you are being controlled by money? What areas in your life that are being controlled? One thing to consider is your spending habits. Are you lavishly using your credit cards in shopping? Whether it is online or in-mall shopping that doesn’t matter. Are you buying apparel to be able to please the people you dont like instead of considering to invest on the funds below? So you can tell. What is your priority?

Filipino Decision Making
  • Emergency Fund – this is computed as 3-6 months of your monthly expenses.
  • Accidental Fund – an amount considerably where your family can live a few years when you are taken out of the picture in the family.
  • Educational Fund – a fund that you wish for your kids to have a decent education.
  • Retirement Fund – an amount that you think you will use when you retire.
  • Income Protection – an amount to use when sudden health and family problems happen.

However, allocating these funds can really be so tiring and difficult to assess. That is where the financial advisor comes along. If you need further help let me know. Click here for a free consultation.

James Frick Quote- Priorities

“tell me where you spend your money and I will tell your priorities”

– James Frick.

When I started my family, I thought I had all that it takes to facilitate my finances, until I learned about being controlled by money one of my first few years of being married.

In order to best answer these questions, I have listed the bible verses that struck me in managing my finances. I hope it will help you and if it does, please feel free to put your comment below.

According to The Art of Management Inc published here are some of the symptoms that money is controlling you:

10 Signs Money Is Controlling You:

  • You constantly worry about having enough money
  • You often wish you could buy more things
  • Your only goal in life is to get rich, but you have no realistic plan
  • Spend money to feel better
  • Blame others for your financial problems (government, spouse)
  • You judge people based on the amount of money they have
  • You take unnecessary financial risks and lose
  • Money controls your mood.

10 Signs You Are Controlling Money:

  • Decide what to buy, save for it and get it
  • You buy things that increase in value
  • Invest in yourself, such as more education or personal improvement
  • Keep your financial agreements
  • You have good credit
  • You pay your taxes
  • Each year, your earning power improves and financial worth increases
  • You use money as a tool to follow your dreams and reach your goals.

5 Ways to Control Money:

  1. Spend your money according to a plan.  Write a financial spending plan.
  2. Never spend more than you make.
  3. Stop wasting your time trying to get money without earning it (gambling, lottery tickets, etc.).
  4. Increase your productivity and improve the quality of your work.
  5. Make constant steady progress.  For example, make a monthly graph showing your total debts and total savings.  Make sure your savings go up every month and your debts go down every month, even if just a little.

Being Contented

Philippians 4:11-13 Not that I speak from want, for I have learned to be content in whatever circumstances I am. I know how to get along with humble means, and I also know how to live in prosperity; in any and every circumstance I have learned the secret of being filled and going hungry, both of having abundance and suffering need. I can do all things through Him who strengthens me.

Being Generous

1 Corinthians 13:3 If I give all I possess to the poor and surrender my body to the flames, but have not love, I gain nothing.

Luke 6:32-35  “If you love those who love you, what credit is that to you? Even ‘sinners’ love those who love them.  And if you do good to those who are good to you, what credit is that to you? Even ‘sinners’ do that. And if you lend to those from whom you expect repayment, what credit is that to you? Even ‘sinners’ lend to ‘sinners,’ expecting to be repaid in full. But love your enemies, do good to them, and lend to them without expecting to get anything back. Then your reward will be great, and you will be sons of the Most High, because he is kind to the ungrateful and wicked.

Proverbs 3:27 Do not withhold good from those to whom it is due, when it is in your power to do it.

About Debt

Romans 13:8 Let no debt remain outstanding except the continuing debt to love on another..

Matthew 6:24 No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.

Honesty

Proverbs 22:16 Whoever oppresses the poor for his own increase and whoever gives to the rich, both come to poverty.

James 5:4-6 Look! The wages you failed to pay the workers who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord Almighty.

1 Thessalonians 4:6-7 and that in this matter no one should wrong or take advantage of a brother or sister. The Lord will punish all those who commit such sins, as we told you and warned you before. For God did not call us to be impure but to live a holy life.

Hi, my name is Jack Marbida, I am a financial advisor from Sun Life Financial for over 4 years now. My goal is to help thousands of Filipino people understand and embrace the spirit of financial preparation through our program, “Financial Freedom”. I know you need help but you just don’t know where to start. Allow me to help you establish a brighter future. Click here for more information. Check what I have been doing here.

36 thoughts on “Does your money control you?

  1. I believe that in fact it is very difficult to manage money without overwhelming it, which is why your advice is very useful, it is worth noting.

  2. Managing money is a chore in itself and a great responsibility. I am glad though that I have taught myself to save and have already our emergency fund set in stone. With my savings skills, i’ve been able to allow us to go on vacations and buy things that we need and want.

  3. Such great tips of using your money wisely and not letting it control you! I love your point of generosity, that is a must.

  4. Ya! I feel the same I think sometimes money try to control me but I need to take extra care in that situation. Thanks for sharing such a useful information with us

  5. I use it wisely. I been more and more wise about my money after the mess-up on my tax forms that lead me to pay a lot of money to the government.

  6. Money isn’t a big worry for me, but it’s important. You shared some great scriptures that further present your point.

  7. Everything you shared about finance is spot on. My favorite quote is when you shared the following scripture: Proverbs 22:16 Whoever oppresses the poor for his own increase and whoever gives to the rich, both come to poverty.

  8. Based on this I am controlling money, which is great, even though there might be some place for improvement with my mindset towards it. Interesting read! 👍

  9. If you don’t know how to budget, money will definitely control you. Spending money which you don’t have is a mistake that everyone does as soon as they get their hands on a credit card.

  10. Such a very interesting post, that everybody should know and attend to before it’s too late.

  11. Using money wisely is the best thing to do…we should always have control over usage of money…these tips and ideas are relly very helpful…totally agree with you..Thanks for sharing….

  12. At one point money controls evryone but spending unreasonable does not make any sense. This is an artcle which everyone needs to read.

  13. Insightful article! I find that when I stick to a monthly budget I am also more regulated with saving and spending although I suspect I should be saving more.

  14. This is my favorite post today. I’m happy to learn I control money and not the other way around. Thank you!

  15. Great post Papa Jack!
    One of the best books I’ve ever read on getting financial freedom is “The Richest Man In Babylon” which sets out some of the principles you’ve set out here.
    Thanks for sharing.
    Best,
    Pedro

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