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Everyone has lied to themself at some point
One of the biggest traps many fall into is the financial justifications we tell ourselves to help us feel better about our choices concerning money.
Justification
I paid off my credit card balance; time to shop.
My car is paid off; time to get a new one.
You only live once; let’s charge this trip to a credit card.
I’m in a shopping mood.
I need [x].
I’m not trying to wait until I’m older to live life. I’m spending now.
I don’t feel like saving up and buying this when I can actually afford it.
Investing takes too long to see any results.
The stock market is a losing game.
I can’t take money to my grave, might as well spend it and live in the moment.
Justification is a dangerous thing we leverage to ease our discomfort regarding some of the poor financial decisions we make.
We’ve all justified a purchase we shouldn’t have made at some point in our lives.
The question is, how often are you justifying harmful financial decisions?
The truth is, you probably didn’t need that shopping trip, new gadget, new pair of shoes, new car, new credit card, new furniture, or unplanned lavish trip.
What most of us need is more financial discipline and more planning.
On top of this, we need clear and actionable goals with a budget in hand. When you have all of these things, you set yourself up to flourish financially.
When you fail to plan, you are likely to find yourself experiencing failure in some way.
The reason why it’s hard to follow a budget is that it requires financial discipline and planning. Most people don’t want to experience the temporary sacrifice involved here.
The reason why most people don’t have anything saved when they hit their 40s and 50s is that they failed to implement financial discipline and planning. They focused more on short-term pleasure instead of long-term financial freedom.
You Can Live In The Moment AND Invest
A common lie we tell ourselves is that if we save now, we won’t be able to enjoy life now.
This is false. There is a way to balance both. It might mean you need to increase your income or stop spending x amount of dollars in x category, but there is always a way.
I’m saving the most I ever have in my lifetime, but I’m also traveling more than I ever have in my lifetime.
I believe in balance, and I’m making a conscious decision to enjoy life while I prioritize investing and saving not only for my distant future, but my near future.
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This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.