Prosper

How respecting your money can help you make more from it

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A man counts some Uganda Shilling notes from a wallet.

A man counts some Uganda Shilling notes from a wallet. Money comes to those who respect it and pay close attention to how they manage it. Photo by Faiswal Kasirye 

By  Grace Makoko

Posted  Tuesday, February 4  2014 at  02:00

In Summary

Treat your money well. In the same way that we don’t like being misused and abused neither does money.

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I recently held a conversation with a young lady who was frustrated at the lack of progress in her career. As she described the daily challenges of dealing with her boss, an old school autocrat who demanded respect, I could not help thinking of the home I grew up in.

Daddy was very similar to this young lady’s boss; he was a no nonsense autocratic father who attached an unusually high premium to respectful behaviour. Looking back on my life, if there is one attribute that has served me well over the years it is the seven letter word RESPECT.
I have since gone on to discover that anything or anyone you respect moves towards you and anything or anyone you disrespect moves away from you. This is true about pets, people and even money.

Respect is a magnet. I have been privileged to be part of the banking industry over the last 18 years and nothing brings home this fact about respect more than the feedback provided by our customers. Customers stick with a bank that respects them, meets their diverse requirements, provides timely solutions to their needs and acts on their feedback.

The respect for customers and how they feel yields great rewards as it attracts new clients since happy customers relate their pleasant experience to friends, relatives, in laws and well-wishers.

Conversely, disrespect drives customers away and robs the organisation of potential new ones.
Have you ever considered that money probably behaves in the same way? Money is attracted to those that respect it and eludes those who don’t. You have heard people make statements like “money is not important”, “tomorrow will take care of itself,” I have one life let me enjoy it now”,” I have sweated for this money so I deserve to spoil myself”. It reminds me of boarding school, we had girls who believed in what we referred to as the “eat once starve once mentality” so they descended on all their grab in the first few weeks of school and starved for much of the term, always anxiously waiting for their parents to come for visitation to replenish stocks which would then be depleted soon after.

I have discovered that money comes to those who respect it and pay close attention to how they manage it. We need to give greater attention to money and rein in impulsive spending.

Building wealth
One of the basic building blocks of wealth creation is one’s decision to start respecting money, by giving careful thought to how we use it. In the early days of my working experience I behaved like my pay check was an illness, an unwanted growth that showed up on my account on pay day.

The only treatment for this monthly ailment or growth in my bank balance was for me to get rid of every last penny through reckless expenditures, just like a doctor recommends surgery for a hernia. Now in the same way that we don’t like being misused and abused neither does money. Indeed those were painful years as money used to avoid me like the plague; I was broke exactly three days after pay day.

Today, I am older and wiser having learnt from observing people who were on top of their game financially. These people who I used to refer to as ‘stingy’ because they always thought twice or thrice before purchasing an item were clearly happier and enjoying life more than I was. They held money in such high regard and treated it so well that it stayed around them longer. How do you treat your money are you making it comfortable or does your behaviour encourage it to leave?

editorial@ug.nationmedia.com