If you haven’t read my previous article about discipline, I recommend you do as the following is part 2.
I’m frustrated. I’m frustrated that people don’t care about their finances. I’m frustrated that people choose to live in ignorance. I’m frustrated that people ignore great advice. I assume most of my readers have chosen to take action and address at least some aspects of their financial life. This blog probably wont reach the people that need to read it, and on the off chance that it does, they probably won’t do anything about it.
One year out of college I find myself frustrated with my peers’ lack of motivation to “get the ball rolling” in the financial sense.
“I don’t make enough money to be saving right now.”
“Investing is too confusing.”
“There’s always tomorrow.”
You’re right you probably don’t make a lot of money now, investing can be confusing, and tomorrow will probably come, but making excuses will get you nowhere…fast. If your expenses outweigh your income then you’re in need of some serious discipline. For everyone else, get motivated….today! Make this commitment “I (insert name here) am going to be proactive in my journey to financial freedom starting now.”
Do you know what compound interest is?
Do you know how much you contribute to your savings…hopefully it’s something.
Where does every dollar you spend go?
What is the difference between a Roth IRA and a 401K?
Why are online savings accounts better than a regular savings account?
If you can’t answer those questions you are in need of some financial discipline. Spend 20 minutes a day surfing financial blogs and getting educated on how to make your money work harder for you. I wish I could impact those around me and make a difference in their financial life. I wish I could just open an online savings account for them, or that I could sign them up for their companies 401k plan….Unfortunately, that’s not the way it works. YOU are the only person that controls your life. TODAY is the best day to make that change, not tomorrow. BE proactive about your finances. ADMIT that you lack discipline in your spending and COMMIT to changing.
Note: I want it to be clear that “being rich” is not imporant to me, nor should it be to you. I simply wish people had motivation to make the best of their financial situation. I watch people wish they had more money, but choose to remain ignorant about how to make their dollar work for them. It would be like watching an overweight person say they want to loose weight while they are stuffing their face with chocolate cake.