Managing finances is a challenging task and people oftentimes recruit all the help they can get even if it means taking into account money superstitions. There has yet to be a scientific or factual study on the effectiveness of abiding by numerous superstitions but then again, there are people who stand by it believing it has given them the edge with their monetary needs.
But with people struggling with their finances and even looking to steer clear of money problems before the year ends, there is no doubt that they are already thinking about a couple of superstitions to get them off the beaten track and onto another one that leads to better financial opportunities. The mentality is that every little bit can help.
This is especially true as they also consider that today is Friday the 13th which is believed to be the bad luck of all bad luck. Some people even choose to stay indoors as they fear the wrath of strings of bad luck waiting to happen the moment they step out of their homes. Even inside, they prefer to do minimal chores and put everything off for tomorrow.
KSDK.com tries to explain the origin of Friday the 13th and it is arguably on top of the list of any superstition people might have. But money superstition is another thing because people tend to hold on to these beliefs believing it will give them good luck. There are also some who insists that it is their ticket out of debt.
Superstitions with money
Consumers who are struggling with their finances will have the tendency to hold on to various superstitions in hopes of giving them a better chance with money management and luck. Here are a few of them.
- Taking care of money trees. The myth started in Taiwan when a poor farmer saw a very unusual tree in the fields. Believing it would bring good fortune, he started selling plants he had grown from the seeds. That was enough for the farmer to earn money off of the trees which would later be referred to as money tree. This is one way to grow money literally because you can earn and even make it a business. The money tree is believed to bring in good luck and fortune to the owner especially when it comes to their finances. But one way of making this happen is for those selling the tree to make money from the business.
- Wearing a coin around the neck. In the old days, sick people believed that kings and queens would have the power to heal specific types of illnesses so they line up and wear coins around their neck. The royalties touch that coin and they get healed and have the power to heal others as well with the coin. In real life, it can really be a lucky coin because it can get you out of tight spots when you need a small change say for a parking meter or for gum in the store.
- Picking up a penny. people who happen to come across a penny are said to have good luck if they decide to pick it up. But the catch is that it has to be heads to bring good luck. The superstition goes on to say that if it is tails, it is best to flip it over for the next person to have good luck. Regardless of the amount, people are lucky to pick up money from the ground because that is something they did not work hard for. USAToday.com even shared that story of one man who was saving every penny he gos his hands on which amounted to about $5000 when they got to the bank to count.
- Saying “money” with a shooting star in the sky. The idea is to say money when you see a shooting star blast through the sky and saying it as many time as possible to get the same amount of money in your pocket. This is like making a wish every time you see a shooting star believing that it will come true. There is nothing wrong with this if people want to pin their financial hopes on a passing start thousands of miles away from Earth. But this has to be backed by hard work regardless how many shooting stars you see in the sky. You cannot solely rely on good luck and just keep betting on lottery.
- Money serves as magnet to money. This is one of the primary reasons why people gift wallets or pouches with money in them to help attract more money. People can use this money superstition to their advantage by working hard and making sure they earn money so it can attract more money in the process.
- Your palms get itchy. The right means you will get money and left means you will spend money. Most people would just chalk this up to allergy and reach for their topical creams in the medicine cabinet. Consumers need to remember that itchy hands has nothing to do with money management because you cannot guess and try to feel lucky with the way you work and especially with your budgeting approach. You need to make informed decisions and based them on your long term goals.
What can get you into trouble
Believing in money superstitions is not wrong but people need to have a good work ethic to go along with it. It is also important to be aware of the potential pitfalls that can give you financial problems along the way. Here are some of them that you need to keep an eye out for.
- Missing a credit card payment. Nerdwallet.com shares that the average credit cardd debt for a household is roughly $16000. That is a big amount to carry around on a credit card especially with the possibility of penalties and fees that can come up when a person misses a payment because lenders will start adding all these and more. Rule of thumb is never put on your card an amount that you cannot pay off at the end of the month.
- Being comfortable with high interest payments. Most, if not all debt accounts would have an interest rate that lenders use to earn from the loan and to protect themselves from the risk they are taking on. There are consumers who feel comfortable with their rates regardless how high it is. They might have been with the lender for the longest time and doesn’t want to switch. If that is the case then consumers can talk to their lenders and with their business history ask to lower down their rate.
- Ruining your credit score. Apart from missing payments on financial obligations, consumers can also hurt their scores if they take out too many loan items all at the same time. Too many hard pulls on their credit score can lower their score. Be sure to space out loan inquiries to manage the drops in the score.
- Lack of reserve funds. There are a couple of ways to build up reserve funds to help manage financial emergencies in the future. The important thing is to have one to make sure that you can face whatever financial problems that may come their way like losing their job or having emergency house repairs.
Luck is when serious preparations meet opportunity but consumers believe that money superstitions play a big role in increasing their chances with attracting money into their finances. There is nothing wrong with this but this has to be coupled with hard work and dedication.