Have you ever thought how different your life would be today if you had made different choices years, months or even days ago?
Was it a job decision? College or no college? Choosing your major? Relationships? A major expense like buying a home or car? Everyday lifestyle decisions–healthy food choices, exercise, good habits? Saving or spending money?
If you have ever looked back and thought that maybe things would be better now if you had made different choices, now is NOT the time for regret. Now is the time for action. It is never to late to change your future. Give some thought to your future. Set some specific goals with a timeline. Stay motivated to live the life you’ve dreamed. Stop making excuses and stay the course. Know that it may not always be easy and you may find yourself daring to be different from your friends and family. With a clear head and the right motivation, you can get through it and find yourself in a better place and, be a great example for those same friends and family.
We are going to focus on finances.
One of the major causes of stress and regrets people have today has to do with financial wellness–feeling good about your relationship with money and your financial security now and in the future. With approximately 80% of Americans living paycheck to paycheck, don’t feel bad if you are stressing and lacking in this area. Check out the graphic for more info to see that you are most likely not alone….
(Graphic courtesy Dave Ramsey)
The good news is that there are specific things you can do to turn this around. It’s not necessarily easy to change your behavior and attitude about money, but it is doable and following simple steps will change your life for the better, now and for your future.
The steps are actually quite simple.
One of the first steps to controlling your finances is to be mindful about where you are spending your money–make yourself a budget, even if at first it’s just to see where your hard earned money is going. Then make some decisions about readjusting priorities to set aside some savings, if you don’t already have at least $1000 set aside. It might mean cutting out some dining out options or entertainment. It might mean reducing your cable bill or modifying services you don’t fully use anyway.
The cost of debt: borrowing (stealing?) from your future.
A major detractor from your financial wellness is debt.
Here’s an infographic showing the difference between borrowing money and what you could have saved and possibly earned by paying yourself instead of paying debt:
If you were paying yourself and saving rather than paying interest, you would cash on hand and much more of it AND not have those obligatory monthly payments forever. What’s even better, is that you can save even more if you invest your funds and have a higher than 2% interest rate.
You can’t change the past. But, can you change your future? Of course you can. Start today. Set a goal, make a plan, do something to move you in the right direction.
Keep up with this blog for interesting and motivational info to help you set a course and live your best life. Interested in finding out if life coaching and financial coaching can work for you? Contact Me Now or Schedule an Appointment!
Today is the yesterday you will look back on tomorrow!