Are You In Check With The Person You Want To Be?
Do you feel like it’s a struggle to get ahead? If so, then you are not alone. But, as Nathan reveals, you can’t achieve your goals unless you are in check with the person you want to be.
Things are getting tough.
When it comes to the cost of living, things are getting tough. We haven’t had much wage growth over the past ten years yet our weekly expenses seem to have skyrocketed.
Nathan often receives questions from the public about how to get ahead financially during these difficult times.
We are entering a new economic era.
This struggle is no surprise to Nathan, who has been following the economy for some time.
He believes we are entering into a different phase of the economy – one where we will see interest rates drop below zero and inflation happen in more rapid cycles.
Are you living beyond your means?
Now is a good time to assess your situation, he says.
Most people want to get ahead, but most people also aren’t willing to do what it takes to get there.
It is always good to be honest with yourself about who you are and what you are doing. Are you living in line with the person you want to be?
Tweaking your budget.
There are families out there living off $40,000 a year. It is possible to be frugal without giving up necessities.
This may mean selling an expensive car and buying a cheaper model. It may mean going on holidays less often. It may mean partying less.
But, these are all sacrifices that could help you get ahead and achieve your financial goals over the long run.
Creating good habits that are in-line with the person you want to be.
It all comes down to the sorts of habits and actions you choose to live out each day. If you are spending all your hard earned money on things that aren’t going to help you leave the workforce, then you aren’t giving yourself the opportunity to create an early retirement.
On the other hand, if you are investing your time and money into building an income producing asset base that is steadily rising in value, you will have a much greater chance of reaching financial freedom in the years to come.
Have you found ways to reduce your budget in order to build wealth? Please share your experiences in the comments section below.