Last week we looked at the idea of saving money in your 20s. We looked at the importance of saving money in your 20s. A few interesting comments were brought up.
Krantcents summarized it best:
“It is unfortunate that the best time to save (in your 20s) coincides when we are too immature to do it.”
Danny chimed in with:
“There are a lot of conflicting sources of information on how you should live your life, and when you’re young, it’s easier to listen to others than sit down and decide for yourself. What it comes down to is a choice: save a little bit now while you’re young (even if it’s hard) and watch it grow over time, or vow to save later. The “saving later” mentality CAN work, but it’s hard because habits form and “later” keeps getting pushed back. Few people will tell you they wish they saved less.”
Today I wanted to write about the idea of actually getting ahead financially.
Here’s a quick story before I get started.
I was chatting with a buddy about finances the other day and he brought up how he was upset because he only had $60 left over until he got paid in a week. I didn’t want to be rude or to ask about this, but he went into further detail. He brought up his insurance payments, car payments, costs of living, and other expenses that were dragging him down. He went on to explain how it seems that he never has any money because everything goes to bills. I tried to give him some tips, but I could tell he was more interested in feeling sorry for himself instead of taking action.
This brings me to the idea of staying afloat in your 20s. What does it mean to stay afloat? In my eyes in means to stay in the same financial/general life position for a long time. No real improvements, minor setbacks, and overall plateau. No savings, no major increase in income, and no positive changes.
How does someone get to the point where they’re just staying afloat in their 20s?
That’s how you screw yourself over financially in your 20s. What’s so bad about staying afloat?
Now that you realize how someone gets to this position and what the negatives are, how can you get out of it? How can you get your head above water if you’re stuck staying afloat?
The time for talking is over. At this point you need to commit to change. You need to be ready mentally to make changes. If you put in a half-hearted effort, then you won’t see any positive changes. You need to be willing to go all or nothing.
You need to do everything you can to reduce your expenses. While I’m not a frugality zealot, I totally realize the importance of cutting back on the crap. You need to cut back on expenses if you want to actually have any savings.
What are expenses that can be easily reduced?
Now it’s time to make more money. Once you commit change and reduce your expenses, you’ll be on the right track. You just need to increase your income now. You want to be able to beef up that savings account. The best way to do this is to make more money.
How can you increase your income?
You need to just suck it up and man up. You’re going to go through a challenging time. So what? You have nobody to blame but yourself. Nobody likes to sacrifice. The truth is that when you’re staying afloat you need to make some drastic sacrifices to get ahead. The bad news is that you’re not going to have as much fun for the next few months. The good news is that you’ll finally get your head above water.
I hope that after reading this piece you plan on making a conscious effort to improve your situation. Life’s too short to spend it staying afloat. It’s time that you got ahead. If this article doesn’t apply to you, then you can always send it over to a buddy or friend in need.
|How I Suck at Not Paying Debts||Hitting 6 Figures Income at 28|
|How I Get a Huge Income Raise Each Year||Making $125K Online in 12 months|
|How I Buy Blogs||Most Debated Articles: The Primerica Saga|
|How I Have Survived My MBA||What is So Wrong With Making Money?|
|How I run multiples blogs and makes money without burning out|