Over the the last six months I have devoted much of my writing to finances, real estate, and the overall economics of life. As I have made that transition, some of the topics I have written about can really get people motivated to push back on some of my positions. I personally love the banter.
From 2014 until 2023, I wrote a lot about personal responsibility, sales, mindset, psychology, etc. My blog was titled selfdevelopmentaddict.com, but this year when I made the change to the current blog which is titled penniesintofortunes.com. I have tried not to write as much about those topics unless there is a financial component to it.
And that is where I am today. Because here is the reality, you can’t change your financial conditions unless you are willing to change your mindset, psychology, etc. on money, if you are desirous of having more of it.
Which brings me to the three reasons I know your financial situation will never change for the better if you are one of these people that say the following things.
You believe there is no way you can have what you have without having the debt as well.
One of the topics I am passionate about is for people to not have car payments. If you are crushing it and your car payment doesn’t even show up in your monthly budget, because it is insignificant. Than good for you.
According to Edmunds they recommend this: Your salary is the primary factor in determining which auto loan is best for you. Edmunds recommends that a new car payment be no more than 15 percent of your monthly take-home pay. A used car payment should be no more than 10 percent, but that number varies by expert.
This is unbelievable to me. This seems so ridiculously high. You can argue about the numbers if you wish. But I know for me, the reality is that when I got rid of my car payment I was able to invest that money into assets that are still paying me ten years later and will continue to pay me for the rest of my life.
The people that believe they have to have a car payment to drive a nice car are so passionate about this topic. They live in a fantasy land thinking that somewhere in the future that their financial situation will change, but it won’t as long as they continue to have the same mentality that landed them the car payment to begin with.
You aren’t willing to work more.
This is the one nobody wants to hear, but it is the harsh truth. You aren’t going to get ahead in life by working 40 hours a week. It has never worked and in todays world it is even worse, because there are too many people preaching the gospel of you need to have work life balance.
Work life balance is a myth. I want to challenge you to think differently about work life balance. Instead think of it as seasons. There was a season in my life that I worked every Saturday. I did that for about thirteen years for the most part. Nowadays, I can’t tell you the last time I worked on a Saturday.
If you have some debts in your life that you need to get cleaned up or if you don’t have enough money leftover each month after you pay the bills. Then you need to work more. That is the reality. Get to work. make some money. If you aren’t willing to make this decision then I know for a fact your financial conditions will never change.
Keep in mind, it isn’t forever, it might just be for six months or a year. A season. Get the debts paid off and then you can relax a little.
You think things will change sometime in the future.
If you won’t change the first two I outlined above then I know for a fact your future is going to be the same as your present. You might get some raises over the next few years that help your financial conditions. You might change jobs and make more money. Who knows you might even have a few lucky windfalls your life.
But if you don’t change your thinking first. You will never have a better future, because you will continue to make decisions that will always keep you the same.
Prosperity and abundance is in the cards for everyone. It isn’t just people that have wealthy families. It isn’t just for people who make a lot of money. It is for everyone. You just have to be willing to change your mindset and make changes that will make your financial present and future the one you want.
To your success and your future.
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