Making it Personal

It took a personal financial disaster for me to realize that I had to get my finances in order. Forty-two years ago I had a family friend who took on the chore of giving me the swift kick in the ass I needed. There were five truths pounded into me in that session that provided me with the motivation I needed to get on the right financial path.

The financial position I was in at the time was exactly where I had planned to be. The reality was that by not having a plan (budget and a financial goal), I had taken on life’s default plan of financial failure. Only by changing the way I handled (spent) money could I get on the right path.

My spending was the source of my financial troubles .. not that I didn’t earn more money. It was pointed out to me that there were others who had a lower income than I did who were not living paycheck to paycheck and buried in debt. In fact, many of these people had managed to accumulate a decent amount of savings.

I was going to earn a fortune in my lifetime and I would have nothing to show for it if I didn’t change my actions. Clearly, I couldn’t be saving and investing for my future when I was spending more than I earned. Living within my means and saving money would require conscience, determined actions.

My mentor brought me to the realization that if I saved the next 5 years like I had for the previous 5 years, then I would be in the same place and I would have financially wasted 5 years of my life. Then he asked me how many 5-year periods I was planning on wasting.

I had to pay myself first out of every paycheck. I had to put money in my savings before I paid my other bills. If I paid myself after I paid all bills and living expenses, I would never have any money to put in my savings. My past experience provided all the proof needed of this truth.

Every person’s situation is different. What motivated me, will probably not motivate you. That’s fine. But … please find what will motivate you to become a financial success story!

You deserve the benefits of being financially secure!

“When money realizes that it is in good hands, it wants to stay and multiply in those hands.”
― Idowu Koyenikan

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Published by W. M. Brown

I am a retired U.S. expat living in Ecuador. I was a business owner for 32 years before retiring in 2012.

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