How to Get the Maximum Value of your Money

We all want to put our money into full use and get the most value in exchange for it. But first, we must train our minds into thinking about money as a never-ending event, something which comes and goes, but is always there.


Here are tips on how to get the maximum value of your money: 

1. Keep track of the money you circulate. The best way to do this is by keeping a record, dividing the money that goes out under the following categories:

  • Regular bills: These are for the rent, electricity, water, and so on..
  • Debts: This is any money you use to pay off financial obligations.
  • Special purchases: This is for anything that doesn’t appear as a regular item in your budget like a new cellphone, a gift, a medical emergency..
  • Investments: Any money used to increase your net worth.
  • Banking: Any money you put in the bank, for whatever purpose.
  • Pleasure: This is money you exchange for good feelings like a movie you enjoyed, a dinner that was delicious, a long-distance call to a loved one abroad..

After seeing how much you usually spend in a month on each category, make an effort to cut down on some expenditures. You might vary and adjust the other categories, but it’s important for your sense of money as a source of personal pleasure to keep this one intact, and even let it expand when that feels right. If you use your creative imagination, you can play around with your budget and keeping track of your money will help you make the right alterations.

2. Trust your feelings when confronted by a spending decision. Inside you is a barometer that can help you decide whether or not something is right for you. If you just take the time to relax and pay attention, you’ll know at gut level whether or not you really want to do or buy something which will cost you. Check them out, by all means. Make certain you really feel you want to spend your money this way, that you really want what you’ll be getting in exchange for your money, then do it!

3. Never spend money without a sense of it as medium of exchange knowing fully well what you are getting in return. This doesn’t mean that you should make sure you get superior value for every penny you spend like some old miser, but this does mean that you should have a sense of the quality of whatever you’re buying. When you learn something new, have a sense of that money being exchanged for knowledge. When you buy food, have a sense of the money circulating and bringing you back pleasant taste sensations and physical nourishment. But if you spend money on an object that gives you no pleasure, performs no useful service, and stimulates no new ideas, then you can consider your money exchanged for a poor bargain.

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  • Reply
    July 23, 2009 at 19:07

    good stuff, just what i was looking for.

  • Reply
    July 23, 2009 at 23:33

    Thanks for posting about this, I would love to read more about this topic.

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