Are you thinking, why should I spend time, energy and money investing in myself? I can barely keep up with life as it is. The future is just that, the future. I’ll deal with it when this or that (fill in the blank) changes or ends.
Or maybe you have the following thoughts?
- -That this is how most people live, paycheck to paycheck and that’s just how life goes.
- -That the rich are the ones who get the comfortable lifestyle and retirement, and I’ll never be one of them.
- -What makes me special that I would be able to be financially sound?
Most of Us Live Paycheck to Paycheck
If you have had any of those thoughts, you are not alone. I have lived paycheck to paycheck most of my adult life, not putting my financial goals first. The combined paychecks of our household at the time were not small, but between raising 4 children and living at the edge of our means was enough to curtail any extra money savings outside of our 401k and 403b plans. I could never seem to even save $1000 and it didn’t take much of a crisis to throw money on credit cards. Totally bad money management. I needed more direction and a really good reason to do better.
Make a Big Goal!
I needed a goal, a big goal. And I needed reasons to make me want to reach that goal. If you don’t have reasons or a goal that give you fire in your belly, then it’s not going to happen.
Here are some examples:
- Be debt free by ___________. See If I’m in Debt, Can I Still Start to Invest Now?
- Build up a $1000 emergency fund.
- Start your retirement fund.
- Open your own brokerage account.
Benefits of Financial Well-being
Here is the upside for being financially sound:
- You have peace of mind. It doesn’t solve all your problems, but it does give you some comfort that you will have enough money to take care of your needs. I’ve heard many times that money is the number one reason for couples’ arguments.
- You don’t have to stay in a bad relationship because you are not dependent upon the other person for finances. (I had an unhappy friend tell me that her husband was her “retirement” and therefore she couldn’t leave him.)
- You don’t have to be tied down to a job that is killing your soul. Not all jobs are rosy 100% of the time, but if you are stuck in one that you absolutely hate, having financial freedom to switch your career path could be a life changer.
- You can help others who need it. (I’m not talking about giving taxes to the government and letting them give it to whomever they want. That’s another story.) This is you being generous to those you care about. The more you help yourself, the more you can help others.
Why Invest in Yourself? Self Interest!
Investing in yourself is never selfish. It is self-interest. It will take some time, energy, and money. I challenge you to find a reason to propel you into action. Write that reason/goal down and put it in a place you will see it often to remind yourself. I have learned the hard way in the past 7 or so years that no one will have an invested interest in me as much as I do. So make yourself a priority because you are worth it!
Until next time,
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