Money

Some claim it should not be a subject of conversations between gentlemen, for some this is a taboo topic to nearly the same extent as sex, for others it is simply not on to broach it and talking too much of it demonstrates one’s pettiness.

Yet the matter is too serious to pass unnoticed, especially if we bear in mind one of most frequent reasons why couples quarrel is money, or to pin it down, the approach to it.

The approach to money begins to be shaped at home. A child observes how their parents handle money and on such basis forms its own financial patterns. Psychologists point out the middle-of-the-road approach to money, i.e. not going into extremes of being parsimonious or wasteful, develops most sensible stance towards money. Oddly enough, adults whose parents were going into any of the extremes, are roughly equally likely to either be skin-flints or to throw about money recklessly.

Most people work to earn money or in other words to earn a livelihood. They are paid money to meet their needs, basic ones such as housing or nutrition and more sophisticated ones, the ones which bring pleasure. No matter how strongly at odds you are with that concept, how you make use of the money to possess or owe, defines who you are. Where you live impacts your comfort of life and describes your social status. What you eat has impact on your health. What outfits you wear impacts how to feel and how fellow people perceive you. Your pastime activities, sports you do, cultural events you attend, travels you take, paint the picture of you and how colourful it is depends also, though, watch out, not only, on what your budget and inclination to spend money is.

Some people are taught not to spend every penny they earn, but to put money aside, with some specific goal in mind, or just for a rainy day. Others spend nearly as much as they receive, yet do not live beyond their means. Finally, lots of people these days consume more than they can afford to, some run up debts cheaply and wisely (e.g. to buy dwelling), others use credit cards and cash loans to consume – buy expensive clothes, host lavish parties, travel to fancy destinations. I am holding back from evaluating whether each of the approaches above is commendable or condemnable, they are just different. The former bring in the virtue of safety, the latter let one live it up.

To lay out my own take on money:

- maximise your income, including all non-pecuniary benefits you may receive (company cars, vouchers to shops, allowances you are eligible to),

- rationalise everyday spending, since repeatable reckless purchases are where most money goes down the drain – hence I prefer super- and hypermarkets to cornershops, I seek out bargain offers, buy things in advance when they are cheaper or in bulk (provided I use them up before expiry dates), and do not take the path of least resistance – for instance I have recently calculated I save between 200 and 300 PLN per month by preparing myself four sandwiches (two eaten before lunch, two as a “dinner”) each day to work from ingredients bought at a hypermarket, instead of buying four ready ones,

- from time to time, be lavish to give your friends / relatives and yourself some pleasure, since life is not only about skimping and saving,

- save wisely, i.e. to do not buy cheap, yet shoddy stuff or lousy food lacking nutrients,

- mind quality of items you buy, attach more importance to durability and reliability than to brand tags.

Finally, the wealthiest folks are not the ones who have earned the most, but those who thriftily disposed of their wealth and knew how to accumulate it prudently.