OK, this has been simmering in the back of my mind for about a month now. My wife’s best friend came over with his family. Him and his family are nice people. I really like them.
Well, there in the same place I was about 5 months ago. The cash flow is getting squeezed. Under my old thinking, there were only a couple ways out: find a new job making more, get a second job, or hold on ride this because in the future we will always make more. Right?
He has decided it best to hold on tight and hope for the best. He has a pretty good job and could have a decent jump in income over the next 5 – 10 years.
I started to talk to him about budgeting and how we have been able to find money and start cutting down the debt. While I could tell, he felt I wasn’t under the same financial pressures as him. In other words, my cash flow was better. Well, needless to say, I ended the conversation by saying that he should look into Dave Ramsey. No sense in getting things all heated for no good reason.
I was also going to say that if I could do it, you can do. But I knew that wasn’t true. And this is the issue of my rant. It’s not that what I am doing requires a master degree in finance. It requires something that a lot of people today do not have: discipline, focus and the ability to sacrifice.
Yes, it’s hard work to stay focused, to have the discipline, and be able to sacrifice. But it’s far better then the stress of picking which bills to pay and just scraping by.
To each there own, but don’t suggest to me that luck played a part in this. There’s a lot of hard work behind these numbers. YTD through debt reduction and adding to my 401(k), I have added $29,843 to my net worth (not taking into account market conditions during that time).
My 2008 goals are very aggressive for me, and I am right on track. Why? Because my yearly goals are broken into quarterly goals, which are broken into monthly goals. which are broken into weekly goals, and daily decisions are made on how they effect weekly goals. The weekly goals may need to be adjusted to keep the monthly goals on track or the monthly goals must be adjusted to keep the quarterly goals on track but the yearly goals are not being adjusted.
What have you done to increase your net worth YTD? Are you where you thought you would be? Why not? What decisions are you making today to keep you from your goals?
You still have 8 ½ months left in the year. Time to get back on track and start accomplishing your goals. There’s still a ton of days left in the year, time to get cracking.
Rant
April 14th, 2008 at 04:23 pm
April 14th, 2008 at 04:43 pm 1208187828
April 14th, 2008 at 04:46 pm 1208187969
I don't get much pleasure out of knowing I'm becoming better off than most Americans. I want everyone to figure it out and stop letting debt and consumerism ruin their lives.
April 14th, 2008 at 05:02 pm 1208188935
Real men make their own luck.
April 14th, 2008 at 05:36 pm 1208190978
April 14th, 2008 at 06:22 pm 1208193768
April 14th, 2008 at 07:32 pm 1208197927
Funds are tight with us right now, so it is easier to do without, since I have been practicing for so many months.
April 15th, 2008 at 04:15 am 1208229325
I can't say that my net worth has increased like yours, at least by my own steam, but its holding its own. This year, its more like shifting my money from taxable to non-taxable. My goal is less increasing money and more putting it in the right place.