Too many times when we make money we have the mentality that once it is in our possession it is simply a materialistic item to be traded for another. We neglect to constantly remind ourselves on the effort it took to earn that money in the first place. Usually with that kind of mentality you don’t end up valuing the money you earned. Therefore, you tend to be more carefree with it. Instead, view your money as a time currency.
From an early age, viewing my money as my time just made me place so much more value in it. At first it was only getting twenty dollars every two weeks as an allowance. So while others would simply see it as twenty dollars in their pocket and can easily buy a movie ticket with a ton of junk food for one day, the idea of spending two weeks worth of my time for one day didn’t seem smart to me. As a result, it made me want to maximize my money such as finding days that the movie tickets were on sale or simply not splurging with things like popcorn.
In my mind, if it took me two weeks to earn that then it only seems wise to try and get something in equal value. Since I am viewing the currency in time as opposed to just a raw dollar amount, that means spending it in a way that will give me at least two weeks worth of benefits or more. With this habit too, at the very least I wouldn’t run out of money as I would get replenished funds by the time I require more.
If you were thinking about spending thirty dollars in a dinner meal for example, don’t see money as just some object that you are exchanging for another. If you make ten dollars an hour at work for example, view it as you are exchanging three hours of your time for that meal. Doesn’t seem as appealing afterwards having to spend three hours to earn one meal that will last one hour or less. Viewing money as your time makes you seriously think about all the purchases you make and whether or not it is wise and productive.
You tend to spend money on purchases that provide you with long-term value this way as well. Not only that, you are inclined to want more return for your money with this mentality as you value your time a lot which usually encourages more productive thoughts such as how you can invest it to make more.