Lost
What do you want in life? Too many times us young folk say that we deserve this now; we living the YOLO life. Well, it’s cool to get the benefits but what we do not realize and what I did not realize is that every decision has a cause and effect: an item sacrificed. Financially, we call it sunk cost: the opportunity not taken because another was taken.
I feel like I had opportunities pass me by because I was conservative with my money. Fear told me what to do so many times or the fear of loss spoke to me instead of managing the risk I feared. I did not have the foresight to even consider such a thing. Painful lessons that hurt me still today. I realize fear and anxiety are attached to any decision but they can be managed. We can defeat it with knowledge.
Healed
Now I am not saying that we should be aggressive with every decision hence the concept behind YOLO. The idea to be aggressive because you may not get the opportunity again. I feel it is a balance. We have to learn to pause before making substantial financial decisions. We should pause enough to see the facts and the options of the course ahead. Plan it out a bit, not too over board though just enough so we can see at least the steps after the transaction.
Found
It became simpler when I committed to embrace the concept of contentment and abandon the “I deserve this, I earn the right to, the hurry up before it’s too late, the YOLO” mentality. When I was able to supplement those feelings with contentment, I began to see clearly which options would really yield what I needed and draw me towards my goals for tomorrow while still enjoying today! I call this the win-win factor. I am moving forward while sacrificing a little (maybe a lot). Enjoying the now with anticipation/joy for what is to come next. I am able to do that because of having the contentment mentality, not the YOLO mentality alone.
Challenge
I encourage you to take a step back from your major purchases and look to see where it is taking you past today. Hopefully, it is aiming toward your version of financial wellness! Enjoy the process – you are on your way towards your dreams. Peace. Till next time.
Sincerely,
Wallet Coach