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Rant

April 14th, 2008 at 04:23 pm

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.

7 Responses to “Rant”

  1. sagegirl Says:
    1208187828

    Merch--Thanks for the post. It is not luck, but your hard work that has gotten you where you are today. And you should be proud of that. I couldn't agree more that to stay focused, you have to look at how quarterly goals are affected by the way you set up your weekly goal and subsequently the daily goal. Breaking it down that far gives you clear STEPS to take to get where you want to be. I am inspired by this and hubby and I are in the process of making our daily, weekly, monthly, quarterly, etc goals. It is exciting.

  2. ceejay74 Says:
    1208187969

    I so relate. Being a recent convert, I feel hypocritical if I get impatient with my friends who need to make the switch to frugality. At the same time, they are in a way worse place than I was when I decided enough was enough, so I get a little upset trying to imagine what, if anything, would spur them to clean up their financial lives? I've tried to explain to them how it's much less stressful to spend a little more time budgeting than to spend whatever but then fear the bills when they come. But you can't push; I remember how sensitive and defensive I was when I was on the other side.

    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.

  3. Broken Arrow Says:
    1208188935

    I'm right there with ya. Determination and Discipline.

    Real men make their own luck.

  4. Ima saver Says:
    1208190978

    Since i have been on this forum, I have pretty much quit all unnecessary spending! I don't buy clothes, shoes, make up, misc., etc. I don't buy things I don't need. I add to my savings daily! My net worth keeps going up.

  5. NJDebbie Says:
    1208193768

    Right on! Thanks for the post.

  6. zenith Says:
    1208197927

    Yes, yes, yes. Since I hang out here at saving advice so much for the past year and a half, I have become so much more frugal. I think about every dollar I spend, and when I spend on something that was not planned, (impulse buying) I get so mad at myself.
    Funds are tight with us right now, so it is easier to do without, since I have been practicing for so many months.

  7. baselle Says:
    1208229325

    The stuff that you can buy will not make you feel as nearly in control as a good night's sleep, which is what you buy when your net worth increases like that.

    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.

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