We all need money to live. It’s how we acquire the things we need to survive. It’s how we manage it and how it works,however, that gets us closer to our goals and dreams.
Personal Finance can stir as much emotion, if not more, than our current election process. The educational system of today does not teach personal finance. Many Americans know next to nothing. Many millennials don’t know how to not have a car payment, house payment, or student loans. Most can’t balance a checkbook or know how credit cards work. Personal Finance education is crucial to the average American’s future. Many are worried Social Security won’t be there when their time to retire comes.
Do we want to live just scraping by all our lives, just to retire with nothing? Most will say no, but most of us are spending frivolously today, not planning for the future. You only live once, right?Live below your means. Why? I work hard, I deserve nice stuff! It’s my money and I want it now.
Well that’s all nice and well. But let’s think about something. Banks have huge skyscrapers and keep raking money in. Why? They keep getting more of our monthly income. Houses, cars, loans, the “I want it now” attitude. We can finance everything now. Why is everything changing to subscriptions and monthly payments? Because they get more money now and it’s more “affordable” for consumers. Do you really want that cell phone for 2 more years? Of course not, let’s just roll it into the monthly payment and we can get the new phone now.
I’m not judging or blaming. I’ve made all these mistakes. I’m 40K in debt with a $200 phone and $200 car payment. I’ve been there. I’ve made those mistakes. I don’t want you to make them as well.
I want to be rich. I want to motivate you to be rich. I want to be successful, I want to motivate you to be successful. I want you and I to enjoy and look forward to retirement. Part of the plan is controlling finances in order to find financial freedom. Why is it freedom? It’s the the feeling of knowing you have a plan and can do what you want, instead of worrying about financial stressors. I want to want to work in retirement, not HAVE to. I see that meme about working until the day I die. I want the choice to working until I die, working a career in enjoy, on MY TERMS. Don’t you want to live on your terms and not the banks and credit card companies’ terms?
Living on my terms means getting on a budget, getting out of debt, saving, investing, and retiring wealthy. For more on that check out my post the millionaire formula.