Conveniences, efficiencies, and instant gratification. This is what our world is full of. When we want something, we usually expect to have it immediately. If we do not get it, we simply get annoyed.
Renowned author, Stephen Covey titled a chapter “Begin with the End in Mind” in his book The 7 Habits of Highly Effective People. A simple concept, yet so hard to follow or implement for many. When we think about the end, that is the position we would like to have achieved or the goals we would like to attain, we tend to be too late. We give no time for our choice(s) or decision(s) to get off the ground, face objections, and allow ourselves time to adjust.
Right now, I want you to create a mental picture your future self. The self that is at the end of your life. What do you like about that image?
Good, bad, ugly, or indifferent; now is the time to think, prepare, and get started on how you are going to make that image a reality.
Often, we read the thousands of thoughts or ideas that can make our life successful (however you define that), yet we often disregard the hurdles that can severely hinder or even ruin the opportunity to reach those successes.
After much thought and after initially writing a list that stretched multiple pages, the following are the 5 things you should do to ruin your financial life by 25:
1. Refuse to accept responsibility
We each have seen someone live a life that is overflowing with stress. Although stress is a normal part of life for everyone, it can be minimized. You ask how? I tell you, simple… by not accepting responsibility.
If you do not have any responsibility you cannot be blamed, you will have no anxiety from expectations, and you can daily choose what to do! Sounds amazing right?
Besides, mom, dad, or surely the grandparents will step in and take care of whatever you need. You have more important things to do anyway.
And then you are 75.
You wake up and have a flashback. You get dressed, hop in your truck and clock in for an eight-hour day only to realize it is not a flashback, it is reality. I am not saying going to work at 75 years old is a bad thing, but when you are 75 you should have a choice. Therefore, it is so important to take responsibility for your choices and actions now. It is the very reason why it is important to ponder the choices you have made and revisit them to make changes when needed.
Responsibility – the state or fact of having a duty to deal with something or of having control over someone.
By definition you have a choice: to work or not work, to spend your earnings or save some of them. The choice you make is the choice you live with.
The results of your decision is not your parents’ fault. It is not your siblings’ fault. It is not your friends’ fault. The choice was yours, so the consequences are yours. Own it. If you don’t want to own the choice(s) you make, then continue to point fingers at everyone besides the one who made the choice(s) and put yourself on the fast track to ruining your financial future. Remember, the choices you make have consequences.
I’ll post the rest of the list next week. Stay tuned…