Hi hivery mind's is really good to know that u all are doing great😊
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It’s important to be intentional with your money but focusing on these small issues, at the expense of larger ones, is like pushing a boulder up hill – sometimes it’ll roll back down.
let me say when you drink a coffee of about $3 every weekday for (260 days) I think that should be $780 in saving. While true, ask yourself this – “how much work does it take to skip that coffee? Do you make the coffee at home for less? Do you buy a machine and employ the Upgrade and Save Strategy?” Or can you do something else that that can get you $780+ in savings but is much easier? I’m not saying that you should ignore the small things, (they add up) but there are a few key money decisions in our life that require our full attention.
if we can get this right, we don't have to worry about the coffee anymore.
YOUR HOME You need a place to sleep and I’ve long recommended you keep that cost of that place to 30% of your take-home pay . That ratio is important because when you spend more than 30%, it eats into the most important ratio – that 20% you save for the future (or help pay down debt). Your home is likely going to be the biggest purchase you’ll ever make in your life.
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YOUR KIDS Kids are awesome! They’re also very expensive. The Department of Agriculture estimates that it costs $233,610 to raise one child. Just one. And that doesn’t even include college!
How many kids do you have or want? 🙂
The point of this number isn’t to scare you away from kids but to explain that it’s a financial decision too. Be aware.
We have alot of them but just want to share this few lastly,
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YOUR HEALTH Being wealthy means being healthy. You have to be healthy enough to enjoy the wealth you’ve accumulated otherwise it’s for naught.
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CONCLUSION Not every “decision” on this list is equal in their importance – your health is far more important than what car you drive. Your choice in a partner or whether you have kids is orders of magnitude more important than your house.
But we can agree that each of these are light years away from how much coffee you buy or whether you car pool into work.
To focus on coffee is like focusing on your side hustle at the expense of your career. It’s nice to be efficient with your money but don’t lose sight the important things in your life.
If you get the major decisions right, you can have all the coffee you want. You can keep your cable, eat out more frequently, and spend more than 2x your salary on an engagement ring for the right person!
Thanks for reading..