Tag: Reality

4 Important Financial Lessons From Morgan Housel

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If you want to be successful, make more money, spend less, save more. It is that simple, but very hard to do. You can do it. You have done it before.

And nothing is stopping you from doing it again. And the right time to start is now. If you do not start to take charge of your financial life, then when are you going to start it? Do not wait. Even if you are in debt, do not get discouraged. The only way to free yourself from the bondage of debt is to save more money than you spend.

If you do not need something, then don’t buy it. Do not buy something just because other people are buying it. Do not buy something just because they are cheap. Save your money.

If you really want to take charge of your financial life, your financial health, you must discipline yourself.

You must not buy what you do not need. Know this: It does not matter how much you make. If you cannot save enough money for yourself, then you are not making anything.

Successful people spend less. They save more. They spend less. They spend their money on important things, things that can shape their lives.

If something is not helping you, then it is hurting you. If you can’t save money for yourself, for your future, then you are hurting yourself, your future.

To change that, Morgan Housel says, “So people’s ability to save is more in their control than they might think.” He says, “Saving can be created by spending less.” That is correct. If you want more, spend less, do more, desire less.

You can spend less if you desire less.” That is a problem for a lot of people. They can’t let go of what is on sales.

If you can leave without it, you do not need it. If you can survive a day without it, then you do not need it. Whether something is on sales or not, if you do not need it, do not buy it. Do not waste your money, especially when you don’t have your own money.

“If you want more, spend less.”

Do not spend your credit card on worthless things. Use your credit card to change your life. Use it to enrol for a new course, not to buy something you do not need. Morgan Housel says, “… you will desire less if you care less about what others think of you.” This is one of the problems that is really affecting all of us.

We do things that we are not comfortable with. We do things just to make other people happy. Look, you do not live for people. You are living for yourself. So if you want to be happy, do not worry about what other people are saying about you. They do not count.

What really count is what you are saying about yourself. What really count is whether you are saving money or not? What really count is whether you are growing your financial life or not? Not people’s opinions. Listen to yourself, not to their opinions.

Whether You Like It Or Not, You Need A Plan

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Yes, you need a plan. It is important for you to have. If you have not created one, it is never too late to start something new.

You need a plan. A plan is your guide, is your director, is your map, is your GPS.

When you are creating your plan, do not be too rigid. Be flexible. Be open to strangers. Be open to future changes.

To achieve success, to reach your destination, Earl Nightingale said, “All you need is a plan- the road map- and the courage to press on to your destination, knowing in advance that there will be problems and setbacks, but knowing also that nothing on earth can stand in the way of a plan, backed by persistence and determination.”

If you want your plan to work, you must back it with love, with compassion, with focus, with energy, with courage, with faith. If not, it won’t work.

So when is it the right time to plan? Every time. Every day. And always.

Planning is important.

Morgan Housel says, “Planning is important, but the most important part of every plan is to plan on the plan not going according to plan.” “Planning is everything.” Remember that everything is not going to go according to plan. So you must “plan on the plan not going according to plan,”

It is good to plan, but if it cannot face today’s reality, then it is not a good plan. You must change it. You must revise it. You must let go of what is not working.

If your plan is not working, if your plan is not doing what it is supposed to do, if you are not getting the right results, then let it go. Let it go.

Because the future is unknown. The future is foggy. The future is uncertain. According to Morgan Housel, ” A plan is only useful if it can survive reality.” If your plan can’t survive reality, your reality, then drop it. Do not continue with it.

When do we need to plan?

Now. David Allen says, “When you most need to plan is usually when you think you don’t have time to plan.” You have time to plan. If you are not planning to succeed, then you are planning to fail. Why is that? Because “planning is everything.”