COMMON FINANCIAL EXCUSES PART 1

Welcome to another week of financial learning. I want to tackle some common financial excuses we give when it comes to savings and investments.

Financial planning is a continuous and conscious effort, which will come with many obstacles from within and without.

The within factors are your own thoughts, family and friends.

Without factors have to do with the economic factors around you.

We tend to shelve personal philosophies around these obstacles just to make us feel good in the interim.

I want to tackle six of those personal philosophies and excuses which fight against us in the long term.

I do not earn enough money: 

We often hear people closer to us complaining about their financial challenges because they earn “little”.

They therefore always bother us with supplementary financial supports! I believe this scenario sounds very familiar to many of us.

However, I am here to say that it is a shallow reason and excuse. No income will be enough for the average human being.

You will always crave for more income no matter your status in life. Your inability to save and invest a portion of your income has nothing to do with the amount.

It has everything to do with your attitude towards money. Do you even have a plan for your income? What is your budget for your current income?

When you live your life as a billionaire when you are yet to clock your first million, what do you expect? As far as you earn something today, you can invest and save.

The problem is with you! Learn to rather adjust your lifestyle to suit your income and not the reverse. Jack Benny once said, “If you cannot save whiles your salary is small, it will be practically impossible to save when you earn more”.

Rethink your position now. You can achieve more if you decide to tactfully manage your current income.

 I do not have time for a Side Hustle: 

This is a follow-up excuse to point 1. Many people complain about their “low” incomes and thus, the reason why they cannot save or invest.

Yet when you suggest basic business models to them, their first response is that “I am very busy ooo”!

I have said it repeatedly that your financial journey will be sound if you rely on more than one source of income.

You should never feel too busy to have an aside hustle! Get down into the mud to look for gold.

Your current source of income is not “enough” yet you feel comfortable at where you are. Get out of your comfort zone.

Get your hands dirty and busy.

Hard work does not break any bones.

You have 24 hours to yourself every day.

How many hours out of this do you use in making income? The problem is more than just your time.

The more is more about the preparedness of your mind. Retune your mind to hustle now for future enjoyment especially if you are young.

You Only Live Once (YOLO): 

The first time I heard this phrase it sounded very nice and catchy. However, I began to ask myself what it really meant. YOLO simply means life is short so you need to enjoy it in fullest now, as we do not know what tomorrow brings! This is a fallacy!

What if you do not die now?

What if an unforeseen illness hit you hard to keep you in bed for the rest of your life?

What if an accident happens to you?

We very often than not see life to be on autopilot when goodness following us all the time. Yes! We are Children of God and expect good things to follow us.

Nevertheless, we live in an imperfect world where things will not be rosy always. Where death is inevitable!

Where bad news will never cease! Plan and live your life with wisdom. Be wise with money as the ant.

Think of tomorrow as much as you enjoy today.

Have you considered the wellbeing of your offspring when you are no more? I have witnessed people who decided not to look after their children all in the name of YOLO and are paying for the consequences dearly now.

Have fun now but remember tomorrow is just a few hours away.

I want you to think about these three excuses and decide on the path you need to take today towards your financial freedom. I will be back God willing next week with the concluding pointers.

I wish everyone a wonderful and memorable week!

Gratis!!!