The Habit of Wealth
How do you eat an Elephant? Well of course, one bite at a time! In can also be said…how do you form habits? One action repeated over and over.Let’s not confuse habits and instincts. Instincts are in our DNA and we have them do ensure our survival. The act of eating, avoiding danger, staying safe are just a few, you get the point. Habits on the other hand are developed over repeated action. There are good habits and there are bad habits each contribute to our day to day lives. Good habits it would seem are the hardest to obtain yet bad habits we seem to pick up easily.We all want to obtain more good habits which are harder to develop. Bad habits while easily obtain are the hardest to change or rid ourselves of.Over time we don’t see or recognize these habits and they just become part of who we are.Bad habits can ruin your life, health, well being and even your financial situation.Let us look at the habit of acquiring wealth. First of all, let’s examine where we are today. Most of us start out at a young age working for a company or business that trades time for money. We all know how that works, 40 hours of work equals a paycheck. At first, this seems acceptable as in the beginning most of us have no debt or at least very little. We live at home (often with our parents) and no real responsibility.As time goes on we find a partner to settle down with and the responsibilities begin to mount. New car, home, credit cards, furnishings, insurance and all of a sudden we are all grown up! We now have a problem which is too much month left at the end of the MONEY.What do we do about this problem……well, we will do what everyone else does which is obtain more debt.How do you stop the loop? Change the habit.Like so many others in the same boat, we write out budgets, buy cheaper products, cut back wherever we can and still nothing much changes….including our income.The only solution is more money. How do we do this? The following are the most common ways people attack this problem:-find a better paying job.-send spouse out to work-get a second job-charge your kid’s room and board……ok just an idea!You have considered all the above options and in the end where are you? My own experience was simple. Being over 50 and unemployed and trying to find a job in today’s marketplace is tough. Companies today are downsizing, reducing salaries and going with younger workers. My spouse was at the top of her pay scale and taking a second job was almost impossible because of the time and availability. All our children were out on there own so no room and board for me!After careful review I was left with only one option which was not included in the above. I decided to investigate alternatives available which I could do on my own.On my Blog Spot I tell my story and how I solved it. Developing new habits have given me inspiration, a feeling of security and piece of mind. As they say, nothing ventured nothing gained.If you are interested in knowing how I solved this problem, visit my Blog:
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