It is only a game is code for don’t take it seriously! The list of things that we should not take seriously is very long. Unfortunately, too many people do not take school, careers or relationships seriously either. Let’s face it grades affect your career and your earnings will affect relationships. What should you take seriously! Here are five (5) things to take seriously because it will affect the rest of your life!
Do you pay yourself first? Most personal finance experts suggest to contribute to a savings (retirement/investment) account on a regular basis! I take it a step further by making it automatic! I set up a payroll deduction for a 403B (401K), IRA and Roth IRA each and every month. Before there was even an opportunity to contribute to a 401K, I used to contribute to a savings account for certain annual expenses. I invested the excess in income property and made it grow into a thriving business.
Live on Less
I live within my means! How do you do that? All it takes is discipline and a lot of planning. I take the impulse out of spending! My wife and I always use lists to go shopping. The list indicates planning with a budget or financial goals in mind. It avoids going into debt to satisfy some purchase that you probably do not need. Is this too much discipline? Maybe you should think more about the financial goals you will start to achieve vs. the effort needed to succeed.
Although I think budgets are a waste of time, figuring out your financial goals are not! I take goals very seriously and you should too. Remember a goal without a plan is just a wish. You need to figure out a plan for every goal you set otherwise, you will just go through the motions. Part of your plan is to monitor your progress and adjust your efforts to achieve your goals. If you are not achieving your goals, you need to make serious changes!
Long Term vs. Short Term
I am a planner by nature although I see it much more long term as a strategist! I love strategy games or games in general; you know I make the right moves to win. It may take me minutes or hours. My love for games helps me think long term. Long term planning is a strategy for goals that will take longer than one year to complete using short term objectives or tasks to achieve them. It took me seven years to achieve financial freedom by completing a lot of tasks/objectives to reach my long term goal.
This is the area that will help you get to your goals! How much you earn or what you do as a career is tied together! I have always said to “choose a job you love, and you will never have to work a day in your life” (Confucius). If you enjoy what you do, you will be good at it and ultimately earn a good living. Whether you are working for someone else or you start your own business, you should enjoy what you are doing or find something you do enjoy. Take it seriously because it is your life!
There has been a lot written about what is important in personal finance and these are the principles I think are important! I used these principles as a guide to help me achieve financial freedom. In other words they work! Some may say they are the “keys to the kingdom”. Long lists are overwhelming and intimidating. I want to make it easier to achieve happiness or your goals. Take these principles seriously, and you can achieve your dreams. Life is only a game, take it seriously!
Photo by: JD Hancock
Canadian PF Happy Hour at Canadian Personal Finance
Carn. of Financial Camaraderie at My University Money
Carnival of MoneyPros at Aaron Hung.com
Carnival of Retirement at Young Family Finance
Wealth Artisan’s FinCarn at Wealth Artisan
Y & T’s Weekend Ramblings at Young and Thrifty
Yakezie Carnival at The College Investor
Life is only a game, take it seriously!