Every morning at 6 a.m. before the Steve Harvey Morning show begins, Steve Harvey gives a few words of wisdom, motivation or whatever you want to call it. A few days ago as I'm driving to work, he comes on and he begins talking about the misunderstanding of luck and how he gets upset when people says he is "just a lucky person". His reasoning makes so much sense. People only see his money, fortune, and countless business ventures, but never take into account the hard work he's put in - basically undermining all of his talent and commitment. He goes on to break down what luck actually is..
So we're a little over a month into the journey (after finally figuring out what it actually is) and I've made some progress into a few of my end of year goals. The others, I'm a bit worried about. So lets see...
Debt. This stuff will crush you...if you let it. We get so caught up on buying random things on credit or taking out unnecessary loans, because 1) "saving takes too long" and 2)the monthly payments tricks you into thinking you're getting a good deal. In reality, both of these are untrue because of Interest. Saving $1,000 at $100 increments is a lot quicker than paying off $1,000 in debt at $100 increments, because the $100 debt payments include a charge for interest expense and the $100 incremental savings do not.
I always thought starting was the hardest part - building up enough momentum to get you moving, but I'm finding that keeping that progress going is difficult. I'm a month into this and I'm already backsliding. I've been out to eat more than once per pay period, out to the bars, buying random junk. It's so easy to fall back into these bad habits, because they've been good to your dumb-ass. Providing you with instant reward for each of your 40 hours of hard work. I think the reason its so easy is that all of this stuff is readily available; in your face. I don't wake up everyday to a fat bank account, Tesla Model S or a free schedule so I'm not focused on saving or spending to maintain these things.
As mentioned in a previous post, reducing expenditures can work some wonders with your disposable income. Take a look at what you're spending and decide what is and what isn't necessary. This can be done with a review of your monthly banking statement or with a budget tracking service like Mint. Below are just a few ways to reduce some expenses.