Money: Pride May Be Keeping You Broke And Hindering You From Financial Success

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Let’s do a small visualization exercise. You are young and fresh from campus. Thanks to your aggressiveness in finding a job, you land an internship that pays 15,000 Kenya shillings a month. With this money, you are able to survive and afford enough outings on the weekends. This helps you to be independent of your parents and boosts your finances.

You choose to spend 10,000 Kenya shillings and save 5,000 shillings. Three months later, you have acquired 15,000 shillings in savings. Luckily, your boss likes you and chooses to hire you. He now pays you 30,000 shillings per month with a possibility of higher pay. With 30,000 shillings, you now decide to upgrade your life. You double up on the outings and spend more on clothes and other luxuries. You treat yourself to a vacation, and six months down the line, you find that you have only managed to save 5,000 shillings a month, just as you used to with the internship stipend.

This is just one situation that proves that savings are a direct reflection of your humility. Why? In the world we live in today, where we want to show people what we’re doing every second on social media, we are likely to fall prey to maintaining a status quo. Even with more money, we don’t see the need to save more, but instead, to upgrade our lives.

I am not saying that you shouldn’t improve your life as more money and resources come in, but what I am saying is that there are levels to this sort of improvement. You must learn to differentiate between your needs, wants, and luxuries. Otherwise, you may end up in trouble. You will end up realizing that pride is hindering you from financial success. Your pride makes you want to appear everywhere and empty your bank account just to show people that you can.

Pride can be a barrier to knowledge. Yes, you have money, and considerably enough of it. But do you know how to handle it, or do you just live by faith hoping that the money will always be there? There is no shame in admitting you need help with managing your money. In fact, it’s something you should embrace, and quickly. Knowledge is power, especially when it comes to financial matters, and the more you know, the greater your success with money will be.

Pride will make you opt for expensive choices even when you know there are cheaper options. It will make you go for convenience even in instances where you know it can break your bank. The absence of humility, is perhaps, the biggest hindrance to financial success.

So, what happens when the person above loses their job and yet they must still maintain their public image? They will either borrow money irresponsibly month after month so as to maintain their lifestyle or refuse to accept financial help. Both, to me, seem a result of pride.

So as you continue to work hard day after day to make your daily bread, remember to be aware of your spending nature. Can you afford it? Can you sustain that lifestyle? If not, what is stopping you from acquiring proper knowledge to manage your money?

Let’s learn to put our pride aside because pride blocks us from saving our coins. Remember, you should not save what is left after saving. Instead, save what is left after spending. Start by creating a budget – Finances 101: How To Create A Budget And Different Budgeting Methods You Can Use

Did you find this insightful? Here’s something else you might like – Why Are We So Bad With Money? Would Financial Education In Schools Help With This Issue?

Money Matters: Why You Need To Be More Intentional With Your Personal Finances

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