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Why Chasing Money Is Worse Than Dogs Chasing Cars

Why Chasing Money Is Worse Than Dogs Chasing Cars


    We’ve all been there before and many of us are there right now.

    And where would that be? Probably not on vacation, enjoying an experience to remember or working to improve our health.

    We’re chasing money.

    Many cultures preach that once you have a good income stream or a certain amount of money built up then good things will follow. Things like going to great restaurants, taking exotic trips, creating a home immersed in entertainment options, and freedom from the fear you’ll have to take a hand out.

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    Fact: Money is the primary pursuit for most of us from the time we finish high school to the time we retire.

    Is this relentless chase the only way it can be or should be? You might not like my answer but you will get some actionable steps to improve your relationship with money.

    The Ugly Parallel

    Ever watched a cartoon or YouTube clip of a dog chasing a car? Even if they catch it they don’t exactly win a medal. Even worse, sometimes the dog gets permanently harmed in the process.

    A human parallel comes from reflecting on this quote by the Joker in the movie The Dark Knight.

    “Do I really look like a guy with a plan? You know what I am? I’m a dog chasing cars. I wouldn’t know what to do with one if I caught it!”

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    Do you see your relationship with money in this quote? Don’t feel bad if you do. I certainly used to but I’ve learned a mindset that helps combat the desire for the constant pursuit of money. Try some of these steps to alter your beliefs about it and help yourself grow into positive behavior and habit change.

    1. Say This Phrase Out Loud: “More money will make things better”. According to research, this is one of the most common beliefs among Americans (and I imagine people in other countries). Now say it a second time. Is it any more convincing? If you have a negative reaction to this experience the feelings when you say “happiness can be achieved with less or no money”. Which one of these statements resonates more?

    2. Realize Why You’re Often Stressed: Did you run out of time to exercise this week because of your work hours? Were you racing around so fast that you didn’t have time to eat well? And did you prioritize your commitment to making money higher than your family and friends? Saying yes to any of these questions generates stress in all of us. Not surprisingly, the American Psychological Association found that money is the biggest cause of stress by far. To prove this isn’t just an American problem an international Reader’s Digest poll asked people in 16 countries what their biggest cause of stress was. The runaway answer? Money.

    3. Ask Yourself What Role Money Plays in Life: So many people are too busy to assess the role of money in their life. I view money as the future ability to buy products and services that fulfill the needs of my family, friends, community, and charities I support. Just to give a couple of examples, two unfortunate paths in life I see people leading look like:

    Money –> vacation –> relaxation/adventure –> happiness

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    Money –> buying future free time –> satisfaction with life

    An alternate mindset is where money is at the end of the path instead of the start. After all, money is a by-product at the end of the path for people living out their core values (a.k.a. the happiest and healthiest).

    4. Define Why You Chase Money: Getting and having money is not a bad thing. It’s not inherently evil and the reality is we all need it. But try brief exercise though. Write down five good reasons why you pursue money. Pause for a few minutes and actually write them down. Do you like what you see? It the time spent and priority assigned to getting money more important than other things you value in life?

    My challenging you to find the “why” behind your relationship with money is for a sincere reason. This quote from the Goldberg and Lewis research team sums it up well.

    “[People] have become so indoctrinated with the idea that having money is important, that they no longer question why. They are unaware that perhaps what they are truly seeking is an increase in self-respect, or security, or freedom, or love, or power.”

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    Treat Yourself with Respect

    Your relationship with money could be an issue of balance but most likely it’s an issue of priorities or not knowing why you want it. Give yourself the respect you deserve by being more mindful about money than a dog is about chasing a car. I don’t want anyone getting hurt by a reckless pursuit and I hope you don’t either.

    Which of these steps works best for you? Are there other steps you’ve successfully used to stop chasing money and improve your relationship with it? Please share a comment below.

    (Photo credit: Man Chasing Falling Money via Shutterstock)

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    Last Updated on April 3, 2019

    How to Nix Your Credit Card Debt in Less Than 3 Years

    How to Nix Your Credit Card Debt in Less Than 3 Years

    Debt is never a fun thing to be in. But, there are many actions that you can take that will help you rid yourself of the burden of debt once and for all.

    By coming up with a set plan, eliminating your debt can feel much easier than constantly thinking about it.

    This post will provide some tips on how you can do this to help you nix your credit card debt in less than 3 years.

    Hint: there are ways that are easier than you think.

    1. Consider Consolidating Multiple Credit Cards If Possible

    This may not be applicable to you, but if you have multiple cards – it is something to consider. Keeping up with multiple bills is time consuming.

    It will depend on the balance you have on each. Consolidate ones you can but do not do it to the point that you get too close to the maximum limit. Also, it is ideal to pick the card with the lower interest rate.

    Consider if there are any fees or alternatively, rewards, with transferring a balance to another card. Watch out for fees. Note that some cards offer rewards for transferring a balance to them. This is extra cash that can help go towards paying off your debt.

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    Having one or two cards can make nixing your debt much simpler than keeping up with the balance of a bunch of cards. Keeping track of paying the minimum towards a bunch of cards is time consuming. Spend the time to consolidate instead to make the overall process simpler going forward.

    My tip: Have one main credit card. Have a second one that you use for necessities – such as groceries or gas – that offers rewards for those purchases (a lot of cards do) and set the second one on auto-pay. You should be able to pay off a smaller amount on auto-pay if it is a necessity. If you think you cannot, then you may need to cut down a lot on expenses.

    Why do I suggest doing this? Having one thing set to auto-pay is one less thing to think about. One less thing to waste time on. Same idea with consolidating to one main card. Tracking down too many is a hassle.

    2. Try to Pay the Full Balance You Spent Each Month at the Very Least

    You need to pay off the amount you are spending each month when that bill comes in. This is the amount you spent THAT month.

    Do not let the debt keep accruing while you work on paying any unpaid debt that has accrued. It will become a never-ending battle. Try as best as you can to be current on paying for each month’s expenses when that month’s bill comes out.

    If this is a strain, consider why. You may need to cut expenses. Or you may need to consider other cards. Or look at where this money is going.

    3. Pay Extra When You Can – Every Small Amount Counts

    This cannot be emphasized enough. If you are looking at a lot of credit card debt, it can look daunting, but each extra amount that you can put towards the debt will really add up – no matter how small it is.

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    It does not just reduce the principal amount that you have left to pay off, but it reduces the amount that is collecting interest. You will always save money with that reduced interest.

    4. Create a Plan on How to Pay Extra

    Back to the main point, having this plan is giving you one less thing to think about.

    This plan should be a plan that works for you. If it does not work for you, your spending habits, and your views on debt, then it will not be an effective plan.

    For instance, if a set plan of an extra $50 (or another amount that you know you can afford) works for you, then do that. Set that aside every month and pay that extra amount. Treat it like a bill. Choose an amount that works for you and pay it like clockwork as though it was a bill you had to pay each month.

    Little amounts will not nix it entirely, but they will help tackle it and having a set plan can make it less of a chore. Creating a new plan of how much to put towards it each month is an unnecessary added stress.

    5. Cut out Costs for Services You Do Not Use

    If you are signed up for subscriptions that you do not use because of some free trial or for some other reason, cut it out. Your overall financial position will look better.

    In turn, that will make cutting your credit card debt easier. Look at your statements to find these expenses. If you do not use them, you may forget you are paying some unnecessary amount each month. Cutting it out can really add up in savings that you can put towards other needed expenses.

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    6. Get Aggressive About It

    Consider these points:

    Depending on the interest and the level of debt, you may need to give up a few indulgences. For example, instead of ordering delivery or going out to eat, cook at home. Everything adds up.

    Other things may be more of a sacrifice. It may be a trip you wanted to go on, or a daily latte habit you’ve picked up. In these instances, consider how important it is to you and if it’s worth the sacrifice. And if it is a costly expense, think whether you can wait to indulge.

    Cutting an extravagant expense can really help make a dent in your overall debt. Try not to add to debt when you are trying to pay it off. It will be a never-ending battle. Make it less of a battle with these tips and it will feel easier.

    Bottom line: Do what you can to make this process easier for you. Implement steps that do this. It takes time now, but will help overall. Also, keep track of your spending and paying down of your debts. Which is the next point.

    7. Reevaluate Your Progress at Set Intervals

    Doing a regular check-in can help you see your efforts pay off or maybe indicate that you need to give this a bit more effort. If you check every 3-6 months, it will not feel so much like a chore or feel so daunting.

    By doing this, you will be able to better understand your progress and perhaps readjust your plan. Bonus: if you see it pay off, it will feel great to do this check-in. You will get there.

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    Finally (and most importantly)…

    8. Keep Trying

    Do not get discouraged. Pushing it off will make it worse. Just keep trying.

    Once your debt becomes lower, each monthly payment will reduce the balance more. Why? You are paying less towards interest. It will be a snowball effect eventually and it will become much easier to manage. Just get to that point. And know once you do, it will feel easier and motivating.

    Start Knocking out Your Debt Today

    The best way to eliminate debt is to get started right away. Begin by implementing the above steps and watch your debt just melt away. Try out some of the above strategies and see what works best for you. Soon you’ll be on your way to a debt free life.

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    Featured photo credit: Pexels via pexels.com

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