Updated: Jan 20, 2021
Do you have the mindset and self control that are going to be necessary to reach your financial goals?
This is one of the toughest lessons to learn on your financial intelligence journey. You have to be able to see something nice and new, like a t.v., or a car and be able to admire it without trying to acquire it. Or buy trying to keep up with the Jones. You may feel like you need it, take a test-time break. I you think you really need it wait 5 days and see if that truly holds true. If you can make it the five days without it, you do not need it.
If you can do this with all the items you come across that are not already accounted for in your budget, you will go very far on this financial journey. Whether its a need or a want, place it in your budget, figure out HOW you can acquire it, and at the best price, then go for it. Set a maximum price, and a date to acquire it. Sometimes, by the time your ready to buy it, you will have changed your mind and decide to do something else with those allocated funds.
Trying to keep us with the Jones or anyone else for that matter will only knock yuo off track. You and you family/team, have to have the same end goal in mind, and stay the course. And keep that goal as the main focus. If its to F.I.R.E. (Financial Intelligence Retire Early) or work until you cant work no more, to start the business you always wanted to do. Yo have to maintain the focus thats need to get to that final destination.