When it comes down to getting our financial situation together, we get easily overwhelmed. Why? I don’t know. Everyone has their own reasons, but everyone is struggling financially whether you are the CEO of a tech company or a college student. We all have made decisions based on what we earn and always struggle to keep on going on. It’s in our nature as humans that we easily get bored and are never satisfied. We always strive for more. No matter what your background is, where you’re from, or who you are. We all have imagined a luxury vacation with your girlfriend, a Disney trip with the family for 3 weeks, or a house with a new car. All these things cost money. We look at money as a bad thing when in reality we all want it. Some people even live of the money they steal from others because they know of no other way to put food on the table. An honest cause through unethical behavior.
I believe that financial literacy starts with knowing your current financial position. Your financial situation is different from mine, and my financial position is different that a police officer. Everyone gets paid their worth, but what we earn is one thing. What is more important is how much you keep from what you earn. Not only that, but what about your retirement? How much is contributed towards that? Not very many have thought this over. Maybe because we think we have tomorrow to think about retirement when in reality we can start now. Better said we need to start now because the way the world will work in the next five years will be completely different from the last 10 years.
What does the next 10 years of your life look like? You’ll probably have a partner, kids, parents to take care of, friends you might want to help when the occasion arises. Perhaps you bought a house. Your financial position right now will be completely different from a few years down the line.
Why not start with where we want to be? Every action we take from now on will be in alignment with that goal of purpose. No one will get us where we want to be. We are solely responsible for our lives. Why not make it the best one you ever had? We only get one chance. Tomorrow isn’t guaranteed.
Financial literacy starts with where you are now. Know your numbers. If you’re not sure then start tracking today. How much are your bills? How much do you have saved? How much do you earn? How much do you need to earn to survive? How big is the difference from where you are now to where you want to be?
Let’s say you graduated college and you’re making $3,500 a month. And just like any other person you have your bills. After saving, bills, groceries, gas, haircuts, etc you see you have $1,000 a month left. You go out with friends every month, go get food, have drinks, go to clubs and parties, a movie or two and maybe buy a shirt. After you see you have $200 left. Do you even know what happens to your money after you get it? You’re practically living paycheck to paycheck. Every day you dread looking at your accounts. You even got a credit card or two close to maxing out with probably $400 in your savings account.
Reality hits you, you get into an accident, you lose your job, you’re having a child and now things got real. This isn’t a game anymore and you have to get serious about your life. You realize you want to be earning $10,000 a month in the next 2 years. You’re just need 65% more to make that happen. Don’t shut down and stay stagnant when you’re in the optimal position to succeed. The question is, how do you get there? What can you possibly do to earn the mind blowing number of $10,000 a month.
As best selling author and real estate investor Grant Cardone says, when you 10x your goals don’t focus on the number itself. Forget about the $10,000. Act as a person who is earning $10,000. Ask yourself, if someone earns $10,000 a month, what do they do for work? What do they know that I don’t? What did they do to get that knowledge? Did they go to college or were they well connected within their network?
You start with where you want to be, and then break down each of these tasks from the smallest and simplest task to the next.
Perhaps you need to start with a Google search asking, “How do I earn money from home?”When you Google this question, you’ll find pages with hundreds of links with the information you’re looking for. Let’s say now you know that this person is interested in computers. Now you Google information about computer science and then start to build your skills. Before you know it, you’re building websites from scratch and selling them for $2,000 each. Now you just need to make 5 websites a month. Or perhaps you built a subscription based app and you’re charging $10 per person with in app purchases. Now you need to have 1,000 download and pay for your app. This itself will replace your job entirely. But this isn’t all there is to it.
How do you build that following? How do you market your app? Maybe you have an active following on social media. Now you use that to talk about your app 6 months before it goes live. Now people are curious and are waiting for its release to see what all the hype was about.
You see, the point here is about starting with where you want to be. Then break down the process in small manageable steps to get where you want to be. Looking at our goals in this way, we find out that anything is possible if we only master to direct our focus to what truly matters. Starting with where you see yourself in 20 years from now, you can start taking actions that’ll take you in that direction. Maybe you need to get a job, maybe quit your job, start a business, start a blog, learn about investing, whatever it is just get started with the first step.
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