My dad used to tell me about the 4 ways to become rich…
1. You could inherit it.
2. You could steal it.
3. You could win it.
4. You could live on less than you earn and invest the difference.
Most of us cannot count on the First 3, so choice 4 makes the most sense. However, many of you will never reach Financial Freedom. Here’s why.
You have not yet adopted a “Thrifty Mindset.” What are you willing to give up to reach Financial Independence? Our Instant Gratification Society tells us “To consume more right now.” But, the path to Financial Freedom requires delaying that gratification…sometimes for decades.
I am not advocating becoming a Miser. Merely, living below your means. Paying yourself First. Paying off debt. Investing wisely. The “Secret Sauce” is adopting a frugal lifestyle where you combine Financial Education with small Behavioral Changes.
30 DAY CHALLENGE
How about giving a “Thrifty Mindset” a 30-day test drive? Document your spending for a month. Pause before each purchase. Ask yourself, “Do I really Need this? Or, do I merely Want it?” Is there an Emotional Component behind your desire to buy this item? Figure out what truly brings Joy to your life.
Eventually, you will arrive at a Tipping Point where Delayed Gratification becomes a Point of Pride…an Achievable Challenge. You will be on the Freeway to Financial Freedom. Enjoy the Journey.
So, what do think about your own path to Financial Freedom? Please share your thoughts…