Financial Fitness; How To BULK up and LEAN down (married or not, here I come)

Many people feel as if they are "The working poor" meaning they work their butts off to see little fruit of their labor. While there are many struggling, the facts are; some of you suck at financial planning! You have to set goals and be willing to commit to those goals!

It's ok. I sucked at it also, for more years than I would like to admit. Now, I am pretty much financially free due to better investments. What IS an investment?

Investment (Dave's Dictionary)

An investment is what you do with your money, life, effort and time that helps you progress further toward financial freedom, freedom of time and happiness

Most people only think about one aspect of investing; money. They never start investing because they think "I don't have any extra cash or the cash I have is too small to invest." or they just don't know how.

Just like in fitness, money is no different than working to attain something better.

Let's clear  and retrain your brain in the ways of looking at investing.

I am TELLING you, that if you can save $1.00 you can save $100.00 and if you can save 100.00 you can save $1000.00. It is amazing that when you train yourself to NOT spend on needless crap, your savings start to build up. There is a mental aspect to this. Why do you think rich people are good at keeping their money?

NOT SPENDING IS INVESTING!!!!!!!!!!!!!!

Say it with me! NOT SPENDING IS INVESTING!!

Once I retrained my brain to look at what I NEEDED first and what I WANTED last, I started my journey to financial freedom. I got to a point where I saved more money than I had ever had in my bank account at one time (a little over 5000.00) I said to myself "I am NOT letting my account go below 5000.00 if I can help it!" In fact I kept it at 5000.00 for over six months, only spending what I had OVER 5000.00 and using my 5000.00 as a "reserve"..........until it hit me "If 5000.00 feels this good, what would  $10,000.00 feel like?"

I will tell you what it feels like. It feels like freedom! I didn't stop at 10,0000.00. Before I knew it, I could start making larger and better investments.

It took a two part attack to get me to where I am today. SAVING AND SPENDING. Incoming and outgoing. It's what I chose to "spend" on that counted. What changes did I make?

WANTS VS NEEDS

I got rid of all my vices. No more video games (wasted time and money because time is money). No more magazines. I called my cable company and renegotiated my plan. I changed cell phone plans.

When you pare down what you don't need, you are saving 10.00 or 20.00 or more a month. You are literally paying yourself to be smarter. 

I invested in a gym membership which cost 500.00 up front but now only 39.00 a year. Most people pay 30.00 a month. With my new found free time I invested in making my body and health better. Healthy body = less medical bills.

I stopped eating crap and candy. No Starbucks or fast food for me. You are giving things up NOW to get ahead and be able to afford them LATER

Most people if they are HURTING can make changes out of necessity. MAKE CHANGES AS IF YOU HAVE TO!

CREDIT

With my savings, I slowly paid of my credit cards and car till I didn't owe anyone.

The greatest thing my father ever told ME (that I didn't listen to) is that "When you get a promotion, take that money and put it towards bills or savings.  DO NOT GO OUT AND UP YOUR STANDARD OF LIVING with a new car or new things that put you in debt."

People think that if "I am making 150.00 more a month, I can "invest" is other things." take a small boat with a payment of 150.00 a month." ANYONE that owns a boat will tell you it takes an extra 150.00 minimum to take their boat ANYWHERE. Gas for boat, gas for car, food, bait, fees, insurance, licenses..................EACH TIME! So that new boat drains money you don't have or dips into your savings.

ANYTHING THAT TAKES AWAY FROM YOUR FINANCIAL FREEDOM, HEALTH OR HAPPINESS IS NOT AN INVESTMENT, IT'S A DETRIMENT TO YOUR FUTURE 


RELATIONSHIPS

I remember my first crush as a kid. I bought her roses, candy, cards and by the time it was all done it hit me that "Women are expensive or men are stupid." When I started my goals to become financially free, I told myself the person I was going to be with would be someone who was financially "FIT" herself. Meaning,

She would have her own job

We would have the same goals in life

Same respect for money and how we spend it

Same determination to save and invest

Same vision of the future and how we can make it better for our kids and ourselves 


The facts are; if you do not have a dedicated partner they can drag you down. Some things you can do about your partner

1. If you are not married and they are not going to change, LEAVE because it will only get worse with kids.
2. Sit down and talk about what you both want it life and figure out what you need to do in order to get their.
3. Take over the finances and money (extreme, but sometimes it needs to be done)
4. Help them to help themselves. A good investment is schooling provided they use it.
5. Give them an allowance in they can't control themselves. 

LIKE MINDS

If "you are who you hang around" then being around broke ass people won't help you succeed. Not that they are bad people it's just that their thinking is different from successful people. Some people get jealous or envious of others success. I get MOTIVATED! I love to hear success stories or be around people who have valued hard work and determination and so they have made something from nothing.

EXCUSES

Nothing pisses me off more than excuses. If you're using any excuse, I am willing to bet you $1000.00 that I can come into your life, take a good look around and TELL YOU where you can start saving! You possibly wont like it, but that's why you're making excuses. You have never tasted real freedom, real success and so it's like feeding vegetables to a child; you don't like it because of how it looks or tastes. Never mind the fact that it IS good for you.


GET HAPPY!

Some people, the happiest time of year is............TAX RETURN time right? Why? Because they are going to take that couple thousand dollars and spend it on something they really want. Like, a new wide screen TV! They get happy because they have been taught that "things" make them happy. Never mind paying off the credit card or car. WHY? "I can afford the bill and it's not like I NEED to pay it off sooner right?" Wrong

This is where people have to change their mindset. Screw that TV. Paying off your credit cards will SAVE (MAKE) you money in the long run. PAYING it off sooner saves you so much more money it's like getting a FREE TV just by being SMARTER! Yea, you have to wait a little longer for that free TV but look at it this way; Like cars, the longer you wait, the better they get! I bought my wife a new car and already I want next years model because they are adding better stuff to it.


GET AMBITIOUS

Nothing is gained without HEALTHY ambition and a good moral worth ethic. Ambition is the blood of success and your actions are the sweat. If your blood isn't pumping and your not sweating than you're not working hard enough. You're not building the financial muscle!


Most people don't MAKE the time to evaluate their income and expenses. Try this tool and see where you can make changes in your life!

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 During our wedding, Maria took on a lot of 'do it yourself' projects

to save money. She found tons of candy jars for a 'candy bar' on Craigslist for
$100 and even bought her reception dress used also.

 We don't spend a lot of money during the weekends. 

We often find local fairs or hiking trails to entertain our family.

 

 We save every year to get away on a big traveling trip. Maria and I

both love trekking around the world and find the best travel deals online.

Here we are at the Acropolis in Greece.

 

A few years ago we moved into a bigger house and we were

faced with the task of furnishing it. Maria found great deals online
and bought much of the furniture used or at garage sales. This is our eldest son's room.

We invest in US, our fitness, saving money to make better investments, saving money to travel and make great memories, which are like gold!