Don't Get Discouraged

24 Oct 2015 12:52
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If you are new to investing you probably did a web search and ended up at this blog and countless others. Financial blogs are a valuable resource as they can provide inspiration, new ideas, support and even create a new circle of friends. The reason why you are researching about investing is because you want to improve your life and that is the one common thread across all financial blogs, the authors are focused on improving their lives!

Yet in the same vain, financial blogs can also be extremely discouraging. If you are trying to take control of your life’s financial challenges you most likely have little to no cash. When you read about how much some of the authors can afford to invest it may start you thinking that you cannot afford to do this. Truth is that is all bullshit! If you can figure out how save $25 a month then YOU CAN DO THIS! How do I know this? Well I’ve been and still am in that very same boat.

I will admit it is tough to see that someone is saving and investing more in one month than I could in a year or that in just a year or two they have invested the same as what has taken me 15 years. But you need to remember that everyone’s situation is different and you can’t fault them for being in a better position. You need to ignore this feature of blogs and focus on you and improving your life. This is the main reason I do not list how much money I invest or receive whenever I buy or sell a stock. Try to see the positive of a financial blog and apply it where you can to your own situation.

Of course this rant is not really helping with why you came here in the first place so I’ll impart my opinions or words of wisdom based on my financial struggles as an adult over the last 30 years.

  • There is no such thing as get rich quick
  • No one will help you! Only you can help yourself
  • Steady saving and investing over a long period of time works!
  • Understand where you spend money weekly, monthly and annually
  • Be honest with yourself
  • Focus on reducing where you spend money
  • Do not think you are smarter than other investors
  • Strive to learn something new every year
  • Set small short term goals
  • Invest in things that return cash (cash in your hand is very empowering)
  • Do not compare yourself to others, only compare yourself to your goals
  • Taking control of your finances takes hard work & discipline but it does get easier as time goes on

Are these the right answers? I have no clue, I can only impart some of the lessons I learned through life and hopefully some of these will hit home for you. If these haven’t scared you away then I am extremely proud of you taking control of your life.

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