In today’s free market society, individuals are free to spend the money they have and even the money they might have in the future. But borrowing against your future is not only dangerous, but a bad habit to get into. With all the freedoms we enjoy, those who are financially responsible are the ones that get to truly enjoy being free and declare their independence from lenders of all kinds.
If you’re reading this you’re probably not enjoying all the freedom our country has to offer. Credit card bills, student loans, medical bills, car loans and home loans add up fast and before you know it a large portion of your monthly income is devoted to paying the interest on money you borrowed to have something right NOW! Instead of waiting until you saved the money.
Stick to Fundamentals
Like achieving any goal in life it is important to stick to the fundamentals. Take a look at what you need to survive and what is really important. Start by doing an inventory of your debts compared to your income and determine where you would like to be in 60 days, 2 years or 5 years. Then put a plan in place to achieve your goals. Remember that many things concerning finances are outside of your control so plan for the unexpected.
Learn From Others
There are a lot of great ways to achieve your goals and plenty of advice out there online. The best advice you could get isn’t from someone else but comes largely from knowing yourself, how you are motivated to save instead of spend and what kinds of rewards you’ll need along the way to keep your momentum going.
It’s often said that the best way to lead is by example, so find someone else who has been successful in working towards financial independence and ask them to help you do the same. But please don’t go get someone who is marketing themselves to others as a financial independence mentor. Look for the unexpected, the frugal and the far from flashy members of your community. Those who are most often financially independent don’t go around trying to convince people they are.
Keep An Eye On Your Goals
Finally, be honest with yourself about what needs to happen for you to reach your goals. If you have a mountain of consumer debt and little income reach out to a good attorney and consider filing for bankruptcy. Wiping the slate clean could save you years of time and money.
Whatever you do, celebrate your independence and revel in your freedom to choose. Choose to save instead of buy a fidget spinner for each of your fingers and thumbs. Choose to focus on what is fundamentally important instead of what some marketing genius may have come up with to sell to people your age. Choose to spend your money and your time doing things that will make you and your community a better place to live. And as a result, truly make you happy, as opposed to momentarily satisfied until the next latest and greatest thing comes along.