Not having any money sucks. Have you ever been to the point where you’ve run out of money? It’s not very fun. In fact, when you don’t have any money, difficult challenges are compounded by the fact that all emergencies also become financial emergencies. Living from crisis to crisis is both painful and expensive. You may know someone like this. It may be you, your friend, or a family member. Someone who is stuck trying to break the cycle of impecuniousness. And what you’ll find is that financial fitness often has surprisingly very little to do with income. The irony is that life is actually more expensive when you don’t have any money. When you don’t have money: debt becomes more expensive, margin is gone, planning is difficult, risk mitigation is expensive and even your stress and your time management are affected. When you have money you can relax. You can plan. You can develop margin and efficiency. You can develop a life that is much less expensive to maintain. The goal here is to begin the process to break the cycle of broke. To create a little buffer that leads to more relaxation, financial peace, and ironically, money to spare.
So, what do you do? Well, the first step is pretty simple. In fact, it is so simple it is often overlooked. The first step is simply to decide. To make the choice if you want to be broke or not. It really is a choice. There is someone else out there who makes half of what you do and has plenty of money to spare. It doesn’t even start with earning lots of money or crushing your expenses. It starts with the decision to start. To begin the process. To make the choice that your life can look completely different a year from now. Continue reading Being Broke is Expensive