Connect with us

Success Advice

The Most Important Money Lesson I’ve Ever Learned

Published

on

Image Credit: Unsplash

If you’d like to learn how to care for your money so you can make it grow exponentially over time, sign up for the free 90-Day Master Class hosted by the founder of Addicted2Success.com, Joel Brown.


Airports are a strange place. Time feels like it does not exist, massage places occur right next to restaurants, and strangers will talk to anyone within sight. It only seems fitting then that I got one of the best pieces of advice from this place where water is worth its weight in gold. I was waiting at the terminal in one of the eternally sticky polyester chairs, and I set my purse on the floor. Immediately, a woman looked up from her magazine at me and said, “Don’t put your purse on the ground.”

Initially, I thought it was for safety reasons, like making it an easy target for pickpockets. This woman proceeded to tell me that by putting my money on the ground, I am disrespecting the value of the work that went into obtaining it. The more I thought about it, the more it made sense.

When I put my money on the ground, I showed less pride in it by failing to keep it in a safe place. I was neglecting it, leading to the possibility that it could be stolen or lost.

If we don’t want to leave our money in a state of disarray in our purse or wallet on the floor, then why would we have the same mentality toward the organization of our budgets and business accounts?

Show Your Money Its Worth

Money’s worth may be determined by the markets on any given day, but it’s true value differs for each individual. In your budgets, you want to make sure you have employees that augment your understanding of what your services are worth.

Look for people who will work well with your company by fitting into one of two categories. In business, it is a common error to think one person can do multiple roles and save you more money as a result. Realistically, you cannot get everything out of one person, and it is more cost effective to have two people do more specific jobs for less hours.

Also make sure your employees respect the resources you decide merit your money. If they do not see what a program or campaign costs, there is greater the possibility of misusing or misunderstanding the materials. Showing pricing saves you money, because by attaching a value to a service, there is less likelihood of overspending on a project.

“Measure your wealth not by the things you have, but by the things for which you would not take money.” – Dave Ramsey

Don’t Take Your Money for Granted

Like the purse on the ground scenario, when you let your money out of your hands, you lose control over it. Automatic payment systems are both a blessing and a curse with how easily money can be transferred for services.

If there are non-essential or necessary autopay systems you have set up, monitor it monthly so you are keeping track of where money is going in your budget. Check your accounts to ensure it is not being used for an unnecessary expense that you may be unaware of. Also, contact your vendor to see if there are promotions you may be missing. If you do have to keep an automatic payment system, make sure to set up alerts, so you have a realistic grasp of your finances.

Ask About Your Money

If I had never questioned the woman in the airport, I would have never had that life-changing lesson about managing my budgets in business. This questioning mindset for your finances particularly benefits your assets when negotiating. When bargaining, there are two ideas to keep in mind to save costs.

The first is when working with another party in a deal, know there are more options than just money. The goal is creating an exchange that accommodates both parties’ demands, trading resources like people or time. By substituting these other options in a negotiation, you allow for your money to be spent on other important items in your budget.

When dialoguing with another company, it is important to focus on more than just making an exemplary agreement with them..Oftentimes, we want to offer a bargain, so we cut down the price of our services or product. By doing so, we devalue our company, because we now accept less money for a service and a smaller amount of revenue. When negotiating, we must not lose sight of the goal just for the sake of possibly gaining a sale.

“If you would be wealthy, think of saving as well as getting.” – Ben Franklin

If I had never put my purse on the floor of that airport, I would have lost an opportunity to learn one of the most important tips about money I have experienced in my life. Money is portrayed as being most powerful when spent, but there is often more success in saving. By valuing and caring for your money through budgeting with these mindsets, you are creating a legacy for a prosperous business. So as you visualize your life, take today to organize your dollars and, please, learn from my mistake of never putting your money on the ground.

What’s the most important money lesson you’ve ever learned? Share it with us below!

Nancy Solari is an inspiring example of living life with a positive mindset, regardless of the challenges you face. At sixteen, she was diagnosed with retinitis pigmentosa: a progressive retinal disease that leads to blindness. Over the years, Nancy experienced significant vision loss, but refused to let this dissuade her from following her dreams. She obtained a BA in broadcasting and psychology from the University of Oregon, worked for Good Morning America and Entertainment Tonight, had a successful singing career, and was a top-producing Realtor in Southern California. Nancy went on to obtain a life coaching degree, and launched Living Full Out in 2008 to help others achieve their goals. An accomplished coach, speaker, and host of the national radio show, Living Full Out with Nancy Solari, she shares her tools for success with audiences and organizations all around the country. See her YouTube for more.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Explode Your Social Media

Want More Views? Master These 6 YouTube Growth Tactics

Getting a strong start or feeling stagnant are two completely different problems, but they both need momentum, viewer engagement, and growth to fix them.

Published

on

YouTube growth strategies
Image Credit: Midjourney

Strategic planning combined with unwavering dedication allows you to rise above the chaos of YouTube—luck won’t get you anywhere.  (more…)

Continue Reading

Change Your Mindset

The Leadership Skill Nobody Talks About (But Changes Everything)

Curiosity often takes a back seat to certainty and gets labeled as a soft skill, which makes it sound obvious and easy

Published

on

leadership through curiosity
Image Credit: Midjourney

Most of us, when faced with challenges, instinctively seek certainty and answers. In turn, our ego steps in and prompts us to defend our views, double down, or perhaps disengage.  (more…)

Continue Reading

Success Advice

Breaking the Bias: How Females Can Thrive In The Workplace in 2025

The good news is that some steps can also be taken by female business leaders who are looking to voice and fight these issues, take charge of their careers, and grow their business or influence in the industry.

Published

on

Overcoming gender bias in the workplace
Image Credit: Midjourney

Over the past 100-odd years, women have played a critical role in the ever-changing labor force.  (more…)

Continue Reading

Success Advice

Success Isn’t Sexy: 5 Daily Habits That Actually Work

You’ll need to master the unsexy routines that build momentum in the background

Published

on

unsexy habits that lead to success
Image Credit: Midjourney

There’s a gritty, unfiltered side of success that rarely makes it to our timelines or TED Talks. It’s not drenched in neon lights, wrapped in viral quotes, or toasted with champagne selfies. It’s quiet. It’s routine. And honestly? It’s often boring. (more…)

Continue Reading

Trending