Mr. Penny Pincher

For those of you that are weekly readers of this column, you’re hopefully familiar with how this works. We’ll normally discuss something financial or ways to save you money either in the form of coupons, the changing of habits or simply spending less for things. This week, we’re going to change it up.

We’re going to focus on an area of our lives that’s constantly being short changed. It’s the single most important aspect to having success, whether that’s financial or otherwise. Without it, all else will continually fail with no hope of ever climbing through the heap of negativity.

I’m talking about our mindset.

“Oh boy, this Penny Pincher guy is wading into some choppy seas here. What makes him think he’s a psychologist all of a sudden?” Truth be told, I know nothing beyond the experiences I’ve had and what I’ve learned from them. Similar to most of you, I’ve known success, failure, depression and happiness.

Through all of them, one thing has remained true. The eventual outcome was dependent upon my approach. If I was negative, the results I experienced would more than likely trend in that direction. If I was positive, the opposite would be true.

This is important because your mindset impacts everything in your life. From your relationships with a spouse, friends or kids to paying off mountains of debt accrued over the years. If you’re able to remain positive and avoid the human pitfalls of self pity and loathing, eventually success will come your way.

There are certain aspects of our life we’re unable to change. I’m 5’7” tall (or short depending on how you look at it). A topic of much derision throughout my life, I used to loathe the fact I wasn’t taller. I’m more than likely the shortest man in any room with plenty of teenagers one third my age towering over me.

I’m unable to change this aspect of myself and I learned to accept and even embrace this years ago. By focusing on the positives (the extra room you experience on an airplane is enough to get you excited) I’ve been able to reverse what was once a negative and turn it into a positive. My mindset changed so my approach changed. This is simply who I am and I wouldn’t want it any other way.

I use this example because it’s a physical trait and one that cannot be altered. No amount of stretching, exercise or yoga will add inches to my frame. This aspect of myself is unchangeable. So many things about our lives fall outside of this category, including how you approach your finances.

The biggest roadblock to having a successful relationship with money is mindset. If you view money as a means to buy something that will make you happy, you’ll never attain what you’re searching for. The happiness you achieve will be fleeting and momentary. I’m sure you’ve heard the expression, “money can’t buy happiness.” There’s a reason that’s a saying, it’s because it’s true.

The harsh reality is, although it may not buy you happiness, money is a necessary evil in our lives. There are those within our society who don’t make enough to feed their kids let alone “buy” happiness while there are those who have far more than they need. The trick is to find joy no matter where you fall on this spectrum.

A positive approach to money can be the difference between achieving financial success or experiencing financial ruin. Whether we like it or not, the things we need cost money. Even the essentials like food and gas aren’t going to be free anytime soon. Similar to my acceptance of being vertically challenged, your acceptance of this is your first step toward financial success. 

Lucky for you, this is an aspect of your life that can easily be changed with the right approach. 

Now, if I can get a little help reaching this jar of pickles on the top shelf, I’d appreciate it.