This is the first part in my series on how to get started on the path to being financially free.
In order to start being financially free, you have to start thinking financially free.
· Do you really think you are ready?
· Do you have a problem with living paycheck to paycheck?
· Have you taken any steps to try to control your spending?
You’re probably not going to be successful if you just said no. It’s the truth. This isn’t a financial diet, this is a lifestyle change. You’re life has to change to become financially free. You can’t buy whatever you want. There has to be boundaries to control yourself. If you don’t have boundaries how can you not spend too much money? What’s too much money you ask? It’s an amount that causes you to have to worry about paying your bills of necessity like rent or mortgage…or food.
Well since you’re reading this I’m going to say you’re probably ready to get on the right path. You have to prepare mentally to make it to the finish line. If you continue to think you can spend whatever you want because you earned it, you’re right. You can do whatever you want, but you will always worry about how you’re going to pay the next bill and you will always wonder where your money went.
Self control is hard but you must learn to do it. Learn that you don’t need the newest thing because everyone else has it or because it’s shiny. Don’t be a 2-year-old. Be an adult and be responsible. Yea it’s not the most fun thing in the world but I’m pretty sure our ancestors lived pretty well without anything that we have today, so I know you can do it.
When you get to 60 years of age you will hate yourself for having neglected your future. Sure it’s fun to spend all you want now but your future self won’t think it’s fun when you’re living in a 1 bedroom house with nowhere to go because you’re living on $1000 a month from social security….that’s if you’re lucky enough to still have social security around.
In all actuality becoming financially stable is more for your future than for your present. Are you ever going to want a house? or to take a vacation abroad? How? If you spend all that you have then this is never going to happen. And if it does happen then it will be because you are over extending yourself on credit and it will eventually catch up to you and make you miserable.
You have to create a balance between spending now and saving for your future. Sure you can live in the now but once again there are consequences to every action we do whether good or bad. If you spend everything now to have fun you will have a miserable life in the later years of your life. So start thinking about how you want your future self to live and how you’re going to make that happen.
So the first step is to start thinking about now. What are you willing to sacrifice now to prepare yourself for the future you want? That’s the question you need to ask yourself and you must answer it. Otherwise nothing is going to change and you’re going to have a miserable future….period!
What are you willing to/what have you sacrificed?
Check out the next part in this series The Path To Financial Freedom: Start Counting
photo credit: Cameron Cassan
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{ 7 comments… read them below or add one }
GREAT post! I’ve sacrificed – a tanning bed package, my DVD/book collections (I now use the library for my entertainment needs!), having a TV in the bedroom, eating out every other day, etc. I would be sacrificing Internet/cable if hubby would let us cancel it. Even with the “sacrifices,” I feel more free and happy now that I ever did when I had all kinds of stuff and all kinds of expenses! Because now I know I’m taking care of my debt, something that my future self (who I predict will love taking trips to new places!) is going to be grateful for. :)
Red´s last blog ..What about purchases were forced to make
Yea just having the knowledge that you’re doing everything you can to have a solid financial future can make it well worth it
Great post, Kevin!
This is the main theme of my blog. Getting people to get their minds right and start to take action. It’s amazing how moving slowly but surely towards a goal can give you a feeling of peace that you haven’t felt before.
Looking forward to the rest of this series.
Jon
I’m willing to sacrifice buying everything that I can afford to buy now to be totally free from normal work by 40.
Financial Samurai´s last blog ..An Inside Look At The Yakezie- Stage One Recap!
That is something I’m working towards. Sacrifice now pays off for later.
Willing to sacrifice most stuff that are wants and not needs in order to achieve my dream :
Be wherever I want, whenever I want, with people I like, without having to worry at all about money.
:D
CC´s last blog ..La route vers MillionnaireLand se poursuit
that definitely a worthy dream
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