For me I find life rewarding when I’m constantly pursuing a goal. For this blog Let’s focus on financial goals because that’s why we are here. What Life and Goals do you want to pursue? Think about this before reading the post.
My current finances are in decent shape, so I believe it’s imperative for me to tailor my goals to how Good or bad my fiscal status is. Can they be improved, of course and this is the reason why I stay pursuing goals. How can you go about improving financially?
Income is the Key!!!
If you have a big chunk of discretionary income left over every month, I assume you can knock off bigger goals faster. The opposite scenario is if you have less funds left over, then goals like debt payoff might take a bit longer.
This is the key to finances, taking action when the moment presents itself or being patient until things get better. We can’t disregard a big surplus of income to be consumed entirely. If you strike now and set yourself up for later it will pay off. The future is uncertain as you never really know when that big income might be gone forever. Also for the simple fact that investments grow more with time and get bigger and bigger the longer you hold them.
On the flip side a person who doesn’t have enough margin has to be extremely patient to what the situation is now. It takes effort and focus to dig out of a hole. Its been done in the past and anyone can do it with a good plan in place today. The proper planning and budgeting will give you hope and a better future when income is low. It will also allow you to spend without stress as you now have allocated $$$ percentages to the appropriate categories.
How you use that Key (Income) will be the deciding factor to being a rockstar with finances. -Rich Uncle EL
High Income – Save / Invest as Much as Possible – Buy Assets that Produce more Income – Don’t Expect that Income to be around forever
Low Income – Budget to pay off debt – Increase Income with Side Jobs – Cut Expenses
Is the Life you want and the Goals you pursue intertwined in a sense? Well to me that is a very clear yes. One day I want to spend some money and the next day I want save some money. As long as you end up saving more than you spend and you can still pay bills you will be fine. As I’ve said it before and I’ll say it again, Goals were made to be smashed. Keep breaking records like Stephen Curry and Lebron James and you will be OK with Life.
Some of My Financial Goals are:
Eventually Reach FI
Saving up to Pay for a Cash Car (No Debt)
Saving to Help Kids Pay Some of College Costs
Stacking dollars for a Passion Business In FI
Life and Goals involves a steady diet of financial Balance. Are you up to the challenge to make 2017 the best year ever for handling money?
Rich Uncle EL
