Announcement

Collapse
No announcement yet.

Financial Tip of the Day

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

    Financial Tip of the Day

    Have you ever felt the “bite” of the “new car bug” when your neighbor comes home with a new 4x4 truck with all the bells and whistles?

    Has your wife ever come home and wanted to remodel the kitchen after going over to see a friend’s new home?

    Does your 2 year old bow not quite perform as well after shooting the newest 2021 models?

    Today’s tip surrounds the concept of contentment.

    The dictionary defines contentment as a state of happiness and satisfaction.

    When you can operate in a state of contentment and understand material purchases will not make you happy, you can achieve financial goals that will allow you grow your wealth far beyond your dreams.

    Making certain sacrifices, often focused around the purchase of “stuff” we really don’t need, can lead to financial successes that far outweigh any benefits derived from the purchase of stuff.

    Please don’t confuse contentment with the concept of settling or complacency. Being content means you are happy with your current situation, but it doesn’t mean you don’t have additional goals, aspirations or wants/desires. Being content means you are willing to do without certain things while realizing those things do not create happiness and satisfaction.

    There is a book called “Love Your Life, Not Theirs” by Rachel Cruze. It does a great job of detailing the impacts of keeping up with the Jones’ along with the financial and emotional impacts of that lifestyle. It highlights the caustic nature of social media and the instant gratification culture we see so much of today.

    I encourage everyone to set lofty goals (financial, relationship, health) which require sacrifice and commitment. All the while, trying to be content with your current status while striving to meet those goals.
    Last edited by STGS; 01-13-2021, 05:09 PM.

    #2
    You are splitting hairs honestly. We could all survive with a campfire on the side of a creek......sabe?

    Comment


      #3
      Its good to have a savings, but we live for today, not 10 yrs from now. I know alot of people who have never made it to see retirement, and that sucks. We have 2 new sxs, new trucks, new camper, and enjoy it all as much as we can because u aren't guaranteed tomorrow. We save what we can and spend the rest. I can save alot more in 4 more years when im done paying child support. Lol

      Comment


        #4
        Originally posted by eradicator View Post
        You are splitting hairs honestly. We could all survive with a campfire on the side of a creek......sabe?
        Progress man we could all be herding goats with not access to healthcare or a sewer system. Survival and fighting short term gratification to achieve long-term goals are 2 different things...you know?

        Sent from my SM-G981U using Tapatalk

        Comment


          #5
          Thanks for the post, I enjoy your Financial tips!

          Comment


            #6
            Originally posted by Tyrex750 View Post
            Its good to have a savings, but we live for today, not 10 yrs from now. I know alot of people who have never made it to see retirement, and that sucks. We have 2 new sxs, new trucks, new camper, and enjoy it all as much as we can because u aren't guaranteed tomorrow. We save what we can and spend the rest. I can save alot more in 4 more years when im done paying child support. Lol
            As long as everything is paid for and not financed you are ahead of many. :-)

            Comment


              #7
              Originally posted by JBJTX81 View Post
              Progress man we could all be herding goats with not access to healthcare or a sewer system. Survival and fighting short term gratification to achieve long-term goals are 2 different things...you know?

              Sent from my SM-G981U using Tapatalk
              I do know. It's frustrating to say the least. I hate the city

              Comment


                #8
                Seems like a good tip, thanks for sharing

                Comment


                  #9
                  Always live within your means, whatever that may be. I would say the majority of folks don't these days, or even know what that means to be honest.

                  Comment


                    #10
                    Good advice

                    Comment


                      #11
                      Thanks for sharing. I speak of this to my wife all the time. May have to have her read that book. It doesn’t sink in.

                      Comment


                        #12
                        Originally posted by Tyrex750 View Post
                        Its good to have a savings, but we live for today, not 10 yrs from now. I know alot of people who have never made it to see retirement, and that sucks. We have 2 new sxs, new trucks, new camper, and enjoy it all as much as we can because u aren't guaranteed tomorrow. We save what we can and spend the rest. I can save alot more in 4 more years when im done paying child support. Lol
                        I think you have to find a happy medium.

                        Comment


                          #13
                          Pretty happy at the moment

                          Comment


                            #14
                            FANTASTIC POST!

                            I do mortgage loans all the time for that "rich" neighbor with the brand new King Ranch. Well, I try at least. They very often can't qualify for squat.


                            Sent from my SAMSUNG-SM-G930A using Tapatalk

                            Comment


                              #15
                              There is far more that reach retirement age without the funds to retire than die young with too much cash in the bank.

                              After all the title of the OP is “financial” tip of the day. Great advice STGS. Great book too.

                              Comment

                              Working...
                              X