“If I can just build up enough points on my Visa and then increase my credit score, I will be able to consolidate this loan and hopefully get out of debt.”
You’ve heard someone say something similar. Everyone always seems to have a scheme to help them hit their financial goals quicker and circumvent hard work. I see this a lot. People are living paycheck to paycheck and living for their next bonus or tax return. That’s not a plan, it’s a life sentence. It’s a life that will certainly be sentenced to torture as you struggle to pay the bills each month while you’re hoping and praying that a medical emergency doesn’t arise or that something doesn’t go wrong with the house.
This, my friends, is the majority of Americans today. Let’s look at some statistics:
- 62% of Americans have less than $1,000 dollars in savings; 21% don’t even have a savings account.
- 76% of Americans are living paycheck to paycheck.
- 17% of Americans have three months of expenses saved.
It’s safe to say that we have a problem.
We try to do so many things at once and we end up accomplishing nothing. Imagine this. Think about your life moving from one goal to the next, and not moving until your current goal is accomplished. Think about your financial life starting off on the right foot by:
(1) learning about your current financial state
(2) getting on a budget
(3) meeting your first savings goal
(4) demolishing your consumer debt
It would look pretty good, right?
Your finances don’t have to be difficult; more often than not we are the ones making trouble in our lives, not someone else. You can’t fix something until you (1) admit it’s a problem and (2) work on addressing it. I can’t make you do either of those things, but I can help. That is what this system is designed for, to help people better themselves financially and inspire the next generation.
Can we do that? Can we make our finances simplistic rather than convoluted and complex? If you make one move a time, your goals will be a lot easier to see. You can only win at the game of chess by making one move at a time; much the same for our financial lives. Keep it simple. Stay focused.