Tag: finances

How bad do you want it?

There’s a difference between wanting something if it comes to you and wanting to make it so bad that you are willing to put in the effort to make it happen.

For example, I want $1 million. It would be nice if I somehow won $1 million. But that’s not likely. So if I really want it, am I willing to put forth the effort to earn it?

I want to set personal records for strength and conditioning, but I am I willing to push myself hard every single day in the gym, eating the right things, focusing on flexibility and mobility work, and get enough sleep and recovery.

I want to have the perfect family life. But I have to want it badly enough to balance between personal care (where I am making sure I can still be the best version of myself), and spending quality time, helping out around the house, showing the kids great work ethic, respecting and loving my wife/their mother, etc.

Everyone “wants” better, but how badly do you want it? Are you willing to do the work? Everybody wants the best, but not many people are willing to put in the required blood, sweat, and tears to make it happen. Are you going to just be a daydreamer? Or are you going to take massive action to live your best life?

What are we teaching people and why it’s good to be different

When there is no consequence for poor work ethic, and no reward for good work ethic, there is no motivation.

If your home, your work, or your government does not have consequences (natural or imposed) for bad behavior, what is that teaching the individual with the bad behavior? Likewise, if there are no rewards to encourage the good behaviors, will people continue to do those good behaviors?

If you want more of something, give them encouragement. If you want people to stop doing something, you have to discourage it. This is a pretty simple idea that everyone understands.

So why is it different with the government? Whether they bail out banks for profiting off the sub-prime mortgage loans before it imploded, the car industry, or individual people (adding an extra $300 for unemployment)…it’s all the same. If there are no negative repercussions to mishandling your money, why should you stop? Be risky with your money to make a huge profit when things are going well and you get rewarded with huge paydays. Don’t worry about when things go sideways because the government will bail you out.

Most people don’t think of themselves as a business, but they should. You need to operate your finances in a way where you can survive (on your own) in good times and in bad.

It’s simple, but not easy for most people. They know they should set a budget, they should stick to them budget, they should try to work hard to increase their income (through pay raises or side hustles), they should decrease their frivolous spending habits, they should be in the black every month, they should invest towards their retirement, they should…they should…they should…

But how many people do what they should?

…

Not that many.

Be different than most people. If it means that you’re weird for having your finances together, then be weird. Who cares what other people think – about the house you live in, the car you drive, or the clothes you wear. Usually, they’re too busy thinking about their own situation to really notice yours anyways.

Things to think about every day

1. Have I made strides towards my goals today? Did I help or hurt myself physically, mentally, spiritually, relationally, vocationally, and financially?

2. After my encounters with others, do I generally make them feel better about themselves?

3. Did I live with integrity today? Did I do the right things, say the right things, and act according to my values?

Solving problems with money?

The “easy” solution is to throw more money at the problem. But while that may fix the problem short-term, it is really only acting as a band-aid. The underlying problem is still there. You may have stopped the bleeding or helped to prevent the wound from getting infected, but you haven’t healed anything.

While it’s tempting to throw money at the problem, use that either as a temporary stopgap, knowing that you need to get a plan together and put it in place ASAP – OR – avoid trying to fix your problems with money altogether (especially if you’re a startup/don’t have expendable cash yet).