What do you do with your money?

We work and we make money, so let me ask you Dinks, what do you do with your money?

Some of us make just enough money to support our lifestyle and therefore we spend our money each month and pay our bills.  Some of us like to see the number value of our net worth increase on a monthly basis and therefore we save our money.  Some others chose to invest our money for our future. So Dinks, how do you spend your money each month?

– Spend it.  Spending our money is a very common because we all have bills to pay, debts to pay off and expenses to take care of each and every month.  Some people spend all of their money each month because they only make enough money to cover their basic costs of living and some people spend all of their money each month because they spend their money recklessly and they have very little self control.  Which one are you?

– Save it. Saving money may be a natural habit for many of us, especially for those of us who are in the business of personal finance or financial blogging.  We may live a very simple lifestyle in order to keep our monthly expense to a minimum to that we can save the maximum amount of money each and every month.  Saving money can have a variety of different meanings for many different people.  Saving money can mean saving a percentage of your income for retirement, it can mean saving a fixed dollar amount of cash into an emergency savings fund or it can be as plain and simple as saving your money each month because you don’t need to spend it. What are you saving for?

– Invest in yourself.  If you don’t spend your money on your monthly expenses and you don’t save your money then what do you do with it?  Some people choose to invest in themselves by bettering themselves for the future. This is actually how I spend a large percentage of my disposable monthly income.  I recently went back to school and I am currently studying journalism in order to pursue my career goal of working in publishing or media.  I really want to be an author and my first book is scheduled to be finished on December 31. Do you invest in yourself?

– Give it away.  Some of us choose to donate a part of our disposable monthly income towards helping others.  You may remember that I chose to volunteer my time towards charitable causes instead of donate money.  Good causes that I support and volunteer for are The Weekend to End Women’s Cancers, The Children’s Hospital and Girl Guides.  I like to donate my time towards causes that are dear to my heart.  As a female I can technically be diagnosed with breast cancer, ovarian cancer or any other type of cancer at any time throughout my life and this is why I volunteer for The Weekend to End Women’s Cancers.  I was born 6 weeks early and I lived the first few weeks of my life in the hospital and this is why I support The Children’s Hospital. I was a brownie and a girl guide when I was younger and therefore that cause is also dear to my heart. Do you support a charity?

Photo by amagill

Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.