Monday Morning Money Moment: April 17, 2017
The Tortoise Versus the Hare
Happy Monday Friends! I hope your Easter weekend went well and you had some great food and some great family time. Me? Well, I spent my weekend slinging beers in Downtown London. There ain’t no rest for the wicked! While I was pouring draft beers for “London’s Finest” I thought to myself, “What the hell am I doing here?” I was exhausted, sore and grumpy and wanted to know why I was spending a beautiful Easter weekend working instead of being with friends and family. The answer came to me, as it always does when my work schedule gets me down.
This is a marathon, not a sprint. Life is about longevity. It’s the same with saving. Our in a world of instant gratification we are always looking for the quick fix. The double up or the triple up is rare. It just doesn’t happen. If it does there is one reason why: You got lucky. What is tried and tested, is persistence. Keep on keeping on. Work your little butt off and save your money. Time is your friend.
People always ask me about what stocks I like and what should they invest in. My answer to that: Invest in yourself and your future. Consistent contributions and hard work are the answer. I didn’t get from 50K in the hole to 50K in the positive from a stock pick. It didn’t happen from the lottery. It didn’t happen from blind luck. It happened from busting my ass, plain and simple. Denial of instant gratification was also important. No shopping, no new clothes, no fun for 5 years.
Now I’m not saying that is what everyone needs to do, but it was what I had to do. Each $5 tip was added to the pile. Over time it amounted to no debt and money in the bank.
Make the budget, work your butt off, save your money, invest properly, and repeat.
That’s the system. Simple is as simple does friends. Don’t believe me, Suze Orman spoke about it as well. I have attached link to her video and a link to my article about being a saver, not a spender. See you all tomorrow with my Tuesday Tip of the Week.
“It’s not how much money you make, but how much money you keep, and how hard it works for you!” —Robert Kiyosaki
https://budgetboss.ca/be-a-saver-not-a-spender-no-really-do-it/
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Joseph James Francis is a Financial Advisor. You can find him on various social media platforms and at budgetboss.ca.