Are you settling for less money in your account and less freedom? Be honest with yourself, earning less and having less than you deserve is a form of being broke.
The reality is too many people are making sense of not having enough. Most people are better at getting rid of money than getting money. I don't want this to happen to you.
Living paycheck-to-paycheck has become even more common in this economy because most people are operating with bad information. Too many people earn too little and spend too much.
It is no wonder to me that people are having such a hard time. The media twists the public so hard that most people don’t know what to do, so they do nothing. Check this recent data out from The Wall Street Journal.
Consumer confidence jumped this March as people become more upbeat about future job prospects. The Conference Board Consumer Confidence Index rose to 82.3, up from 78.3 in February. More recently the index had dropped moderately in February after increases in January and December. This is the highest reading since January 2008.
The world was about to come to an end in 2008! This is supposed to suggest certainty but it's a weak comparison, giving you a false sense of security and a green light to spend.
Kit Yarrow, a professor of marketing at Golden Gate University in San Francisco and author of a new book, Decoding the New Consumer Mind interviewed thousands of consumers about their retail habits and says, "Consumers are indicating that uncertainty is the new normal, and they're demonstrating resilience.” She goes on to suggest that despite uncertainty people are willing to spend money.
This is a good sign for sellers, entrepreneurs and hustlers but very bad news for consumers. This will prove to be a terrible time for those that lack discipline with spending money and come up short on producing it.
Few facts to get your attention:
- 34% all people born into the middle class will fall into poverty as an adult.
- 62% of all Americans have no emergency funds.
- Average American savings account is $3800.
- 82% of population concerned they won’t have enough money at retirement.
This is not meant to bring you down but to wake you up. Now is the time to out-produce your competition, squeeze ink out of every opportunity, increase your income, work those extra angles and tighten your spending. Now is the time to be the seller not the spender.
All your energy and efforts should be about getting the money not getting rid of it.
Warren Buffett says,“If you buy things you don't need, you will soon sell things you do need.” I created a list of ridikulous items people spend money on. That’s right, so ridikulous
that I had to spell the word wrong.
Make a list of your own RIDIKULOUS items and when you get tempted to purchase them know that you should have your attention on getting more money not getting rid of it.
- Designer water! - You went to dinner for food not water.
- 22-inch wheels. - Look at me!
- Cigarettes – When you’re smoking, you aren’t calling.
- Fast Food – You will never meet a client at the drive through.
- Strippers/Gambling – C’mon man…
- Sugar Crush Levels - Spend more time unlocking the next level than learning your craft.
- ATM Charges – You shouldn’t have access to an ATM password.
- Interest on Credit Card - Never, never, never pay interest.
- Lottery Tickets – You aren’t that lucky.
- Desserts – You’ve already over eaten.
- 32 oz. Steaks – No one needs that.
- Groupon Offers – They go unused.
- Nursery for Infants – Trying to impress Grandma.
The only money I spend these days are on ways to increase my exposure, my brand, my income and grow my businesses. Then when I hit targets we go out every once and awhile and celebrate! Remember now is your time to get it not get rid of it!
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“Be Great, Nothing Else Pays.”