It comes up all the time in meetings with new clients – “I’m already stretched to the max, I can’t possible save anything.”
Through my business, I have an added benefit of being able to look at a huge cross section of people’s financial lives “behind the scenes.” I’ve seen all sorts of things. People who you would think are LOADED. They have a beautiful house, beautiful cars, paying for their kid’s University, etc. but it’s all financed. In reality they are poor. I’ve also seen a client who lives a modest lifestyle, owns his house in trailer park outright and is an extremely happy millionaire. You can never judge a book by its cover they say.
Of all the things that I’ve seen there seems to be a simple way to save for your future… spend within your means… and then save some more. The people that are not playing that endless game of “keeping up with Jones'” are the ones who are happier. I know firsthand that it’s not easy to do. I know I’ve been accused of being cheap numerous times (maybe I take it to an extreme), but why do you need to go out and get that new electronic, or new car? I had a very smart mechanic shop owner once tell me (he reads these articles) “the cheapest car you will even have, is the one you own.” I’ve used that saying with every client who tells me they need a new car. This same analogy can be put towards any depreciating asset.
I’ll get off my high horse now, but here is the challenge I pose to you. What is it that you are looking to purchase within the next month that you could either omit and without it affecting your life, or find an alternative that would help you save more. Remember, the more you save, the more money you will have in your future. Retirement isn’t as far away as you think.
If you think this could benefit you or someone you know (friend, relative) please this to them using the share button, or contact Travis Strain at 604-308-6030, or mail@travisstrain.ca.
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