The original post can be found here: Debt Free
I’ve thought it. You’ve thought it. Most every member of lower to middle-class America has thought it.
If I only had more money…
…then I’d be happy.
…then I would be more generous.
…then I could pay off my debt.
…then I could follow my dreams.
…then I could pay for my kids to go to college.
…then I could retire well.
I once spoke to a gentleman when I was working in the mortgage industry. He wanted to refinance his home because he was drowning in his mortgage payment.
When we spoke, he had
- $600 in checking
- $1,200 in savings
- $120,000 in retirement savings
- And over $246,000 in debt…NOT including his home.
His credit score was a 585. He had 98 separate late payments on his credit report and he had $20,300 worth of debt that was in collections.
And the kicker? The man I was speaking to…WAS A DOCTOR! This 12 year physician had an annual income in excess of $200,000. He was earning nearly 5 times the national average. Yet he couldn’t pay his bills and he was drowning in debt and payments.
Earning more income and having more money WILL NOT cause you to win financially. No matter what your income is, this truth remains: You have to live on less than you make! If you spend more than you make, you will be BROKE!
The Bible has a good tidbit of wisdom on this subject:
“Whoever can be trusted with very little can also be trusted with much, and whoever is dishonest with very little will also be dishonest with much.” –Luke 16:10
That’s not religious or spiritual mumbo-jumbo. That’s just common-sense. If you blew $500 of my money, why in the world would I trust you with $5,000. If you don’t budget a small income, why would you think you could budget a larger one? If you aren’t able to manage a small amount of money, why do you think you could manage more?
Whether you make $20,000 per year or $200,000 per year, you have to make the conscience decision to budget and plan and manage it. No matter how much money you have, you have to be intentional in the way you use it.
You can reach your financial goals and you can have the life you want. But it’s up to you to make the choices and take the steps to get there! Now get about the business of making it happen.
Yours In Freedom,
**If you want some guidance and direction on how to meet your financial goals,contact us today for a Free 30 Minute Consultation.
If I Only Had More Money, Then I Would…
May 26th, 2011 at 09:46 pm