Volume 1, Number 3
Money – From A Woman’s Perspective
Hi. Welcome back to The Money Case. I’m delighted that you’ve joined me today.
“Our own happiness is of intrinsic value…in that we desire it for its own sake. Money, on the other hand, is only of instrumental value to us. We want it because of the things we can buy with it…” Practical Ethics, Peter Singer, p. 274
Many of us have to go through chaos and inconceivable anxiety, stress and worry over money before we are able to learn how to feel comfortable around our finances, our spending habits, and paying those bills.
Philosophically speaking, money is something of instrumental value. It becomes a means to an end. We need currency to pay for goods and services. Money as instrumental value cannot bring us happiness since happiness, unlike money, is of intrinsic value: something that is good and desirable in itself. (Practical Ethics, Peter Singer, p 274)
However, the way in which we take care of our money can definitely bring us joy, happiness, peace of mind, and ultimately financial freedom. Here’s how:
1. Plan to establish a budget process and stick to it. Using the on-line software tool that was designed especially for you by The Money Case is a good starting point.
Money – From A Woman’s Perspective
Hi. Welcome back to The Money Case. I’m delighted that you’ve joined me today.
“Our own happiness is of intrinsic value…in that we desire it for its own sake. Money, on the other hand, is only of instrumental value to us. We want it because of the things we can buy with it…” Practical Ethics, Peter Singer, p. 274
Many of us have to go through chaos and inconceivable anxiety, stress and worry over money before we are able to learn how to feel comfortable around our finances, our spending habits, and paying those bills.
Philosophically speaking, money is something of instrumental value. It becomes a means to an end. We need currency to pay for goods and services. Money as instrumental value cannot bring us happiness since happiness, unlike money, is of intrinsic value: something that is good and desirable in itself. (Practical Ethics, Peter Singer, p 274)
However, the way in which we take care of our money can definitely bring us joy, happiness, peace of mind, and ultimately financial freedom. Here’s how:
1. Plan to establish a budget process and stick to it. Using the on-line software tool that was designed especially for you by The Money Case is a good starting point.
2. Set a date to start your new budget life.
3. Number each day on your calendar up to 30 days.
4. Spend at least 15 minutes at the end of each day for the next 30 days recording your income and listing all of the money that you had spent that day. This includes every cent, even that impulsive purchase of a chocolate bar at the checkout.
5. After each day’s budget entry, assess your financial position.
6. Daily/weekly/monthly measure your level of happiness arising out of this budget process.
I can guarantee you that at the end of the 30 days you will have an accurate picture of your financial life. You would have enjoyed the process of developing and managing a successful budget. And you would definitely want to make it part of your daily routine.
As added value, you may find that arising out of this budgeting process you may have to make some decisions about your spending habits or you may want to find ways to earn more money in order to balance your budget. Or you may find that all’s well; that there’s even savings in your monthly budget.
Money and happiness are indeed separate entities, but I also believe that our own happiness can be found in the way we manage our money. These two elements can be made to co-exist in our lives, making for a harmonious lifestyle.
Have a wonderful week, and let’s meet again next Tuesday here at The Money Case.
Debra
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