“If You are not planning Your life – Someone Else IS and WILL!” (D.W Powell)
Many times, I have heard these words:
We don’t make enough money.
They don’t pay me what I am worth?
I will never be able to retire!
These are real questions that need real answers.
We don’t make enough money. The real question is How do you handle what you make?
What are your Needs vs. your Wants?
Need – A need is a necessity. Food, clothing, shelter. Examples – medical insurance, roof , water heater, stove, refrigerator, electricity, clean water, etc.
Want – A want is a desire. Something that is not one of the first three. Answer these questions: Must I have it right now? Can it pass the 24-hour rule of waiting? Can we save the money and pay for it in cash? What is the maximum we will spend on impulse buys – ours is $20. Everything else goes on a list for further consideration.
True Expenses – These are what an item costs, what it will cost to maintain it, and what it will cost to replace it. Think about what your precious pet actually costs or the maintenance of the huge 4-wheel drive truck.
Cash Flow – Understand where each penny comes in from and where each penny goes. Keep a log of your daily and monthly spending and you will see where you can cut and where you can save. Do you really need that drive-through coffee every day?
They don’t pay me what I am worth.
What is your worth and why? If it is more, what are your plans to correct it, or move on. It is always easier to stay where you are because it is comfortable verses doing the research, getting prepared, and executing your plan to move up. The choice is always yours to make.
I will never be able to retire!
Wow! I bought into this when I was younger and then it dawned on me that the only people who truly retire are those in the cemetery. The reinvention of oneself during the ages and stages needs to be looked at as the great adventure of life. Asking where I can be the most useful in my family and community. Retirement happens when you start your pension plan with your first paycheck, no matter how little you start with, it compounds over time,
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