Do you have “enough”? Are you working extra hard to buy extra stuff that you don’t actually need? How many hours of your working day go towards unnecessary expenses? Could you work less hours if you required less stuff? Wanted less stuff? Had less stuff?
As many of you know, I left my corporate gig over 2.5 years ago to strike out on my own. I get emails all the time asking me how I did it, and it’s really a hard thing to answer in a single post as it is a culmination of so many things I went through. However, I can say that it has been the best years of my working life, which started at 14 with a paper route. The ability to work when I want and for whom I want has really changed my life. I no longer dread sitting in a cubicle all day making someone else rich; instead, my every move is dedicated to both increasing my earnings while reducing my work time. For the most part, I now try to get the majority of my work done in the first 4 hours of the day, from 8-12, which leaves me the rest of the day to go hiking, do some woodworking, run errands, or just sit outside with a good book. It’s not for everyone, but it’s certainly for me. Along the way, I have read a whole bunch of books that have enabled/assisted me in getting to this place in life, and if you have been looking for ways to simplify your life and live life the way you want to versus how someone else wants you to, you might want to check a few of these out. They were essential to me changing my attitude towards money and how I spent it, and learning how to adapt my thinking to be able to survive on my own without a boss to report to. If you can find them at the library, I would definitely borrow them. Alternatively, if you buy them, you can refer to them often – I have read several of these books a few times each and will continue to go back to them often. For me, they have been invaluable in teaching me what I needed to know to succeed on my own and change the way I look at making money. Check them out if you get a chance and are looking to make some of these changes in your own life.
If there is one thing I have never understood, it is the allure of overpriced designer clothing. The reason I don’t understand it is because most people buy fancy brand names because of the name and the fact that it is displayed in a large font on the item itself, all in an effort to impress other people. Is a Gucci handbag made in a factory in China any better than any other decently-built handbag made in a factory in China? Nope. But I guess having the big “G’ on the side makes it 10X more expensive and worth it, right? I mean, who doesn’t like paying a fortune for a big “G” on the side of their handbag?
Are your life choices and decisions based in reality or fiction? Do you feel entitled to a better standard of living than you can currently afford? Are you deep in debt because of it? These are questions I always ask myself when I see stories of people living in trailer parks but driving $40,000 cars, school bus drivers living in $800,000 homes, or single women having 14 children when they are on welfare.
This is a guest post from Neal Frankle, CFP, who blogs over at Wealth Pilgrim
Like everyone, my income and financial situation has been “impacted” by the current economic crisis. And as you can imagine, the “impact” hasn’t been pleasant.
We’re not at risk of losing our home or business (thank G-d) but our lifestyle has changed. We’ve reduced our monthly spending and we’ve eliminated our vacation plans. Even though we’ve saved for our childrens’ college since the day they were born, those investments have been clobbered. We’ve looked into different alternatives for our daughter who is about ready to start college this September.
