top of page
Search

Be Friends with Money

When Covid-19 hit, it impacted many business owners, employees, workers, and students financially. However, there are still people who aren’t as financially impacted by the pandemic. Different spending habits can lead to different results. I wonder whether Covid-19 teaches us a worthy lesson to achieve our freedom from debts regardless of crisis movements. To reach this goal, we should build a sustainable friendship with our money by being carefully and being kind to it.


Like a friend, money needs to be cared for by us. First, we should spend time looking after our money. For instance, I have a habit of taking a few minutes to check my bills before stepping out of stores. This simple action helps me to avoid errors by cashiers and remember the sum of money I spent. Also, we should keep track of our spending. Besides the banking records, I still use a traditional financial tracking tool, a notebook, to write down my daily expenses. As a result, I clearly identify my financial situation. This helps me to make timely decisions and adjust my expense habits to protect my friend, money. Another way I take care of money is creating short-term and long-term plans for different financial purposes. For example, if I need a new computer, I set up a 24-month saving plan for the purchase. This helps me to avoid impulse buying behaviors that can cause financial setbacks. To sum up, money is a loyal friend when we understand how to look after it frequently and effectively.


Being kind with money is valuable advice to prevent us from potential financial trouble. Firstly, since a nickel also has its value, we should respect our money by gathering all coins in a glass bottle or a cotton bag. We may be surprised by the amount of money accumulating from small coins day after day. It may be helpful to pay for some essential goods in a difficult time. Additionally, wisely spending is another way to show our kindness with currency. Researching and comparing prices before ordering a product, or considering carefully whether this product is necessary for our life before making a purchase, is a good habit. It will help avoid wasting money. Finally, to keep the friend named "money" in a healthy condition, we should prepare a backup plan for our future. For instance, in a booming economy, we should think about the coming bust period, so we can retain a frugal, long-term saving strategy. By building a simple life and refusing to misspend, we can increase our savings and use them for investment as a backup plan for any financial crisis might happen in the future. Indeed, if we treat our money kindly, it will stay with us during a difficult situation.


Overall, it is necessary to live in harmony with our money. We should show a strong responsibility for our financial situation by spending time managing, keeping track, and having specific plans for our expenses carefully. We should treat our money as a close friend with kindness such as respecting, not wasting it, and building backup plans for a difficult period in the future. With all these tips, money becomes our friend, and we won't worry that this friend may leave us.

 
 
 

Comments


Be the first to know! 

Would you like to learn about all the exciting events SABVC will be putting on every month? Subscribe to our Events Newsletter to be the first to find out about all the events we will be hosting! From Halloween to Puppy Rooms, Trivia to Mental Health - SABVC has it all! Subscribe below so you don't miss out!

Thanks for subscribing!

The Students' Association of Bow Valley College is located on the traditional territories of the Niitsitapi (Blackfoot Confederacy) and the people of the Treaty 7 region in Southern Alberta, which includes the Siksika, the Piikani, the Kainai, the Tsuut’ina and the Iyarhe Nakoda.

 

We are situated on land where the Bow River meets the Elbow River, and the traditional Blackfoot name of this place is “Mohkinstsis” which we now call the City of Calgary.

 

The City of Calgary is also home to Métis Nation of Alberta, Region 3.

© 2024 Students' Association of Bow Valley College

Contact Us

S2034 Bow Valley College
345 - 6 Avenue SE,
Calgary, AB T2G 4V1

Follow Us

  • Facebook
  • X
  • Instagram
  • LinkedIn
bottom of page