Did you have a dream of competing on the international stage, or maybe watching your child compete at some point?
While many of us have had a similar dream, very few compete on the really big athletic stage. The talent combined with the hard work/dedication is something that most of us don’t quite have. Olympic athletes are the best of the best (well, there are a few exceptions) - and to not only compete at that level - but to “win” - hard work and dedication are absolutely required.
Every few years we get to watch some of the most talented athletes compete in the Olympics - this winter has been no exception as we watch skiers, snowboarders, skaters, hockey players, curlers and others compete in Pyeong Chang. Have you worked on your curling skills lately?
Success rarely is based on pure luck. For most of us, it takes a lot of hard work to be successful at anything. We need to practice - and not just once in awhile, but frequently. Financial success is really no different.
While there are many ways we may define financial success - the bottom line is that it generally takes hard work and dedication over time. When it comes to your money, time is key - nothing happens overnight. When I was growing up, I learned the phrase “money doesn’t grow on trees.” I didn’t have a full appreciation of that until I was responsible for my own budget - and I found it to be completely true. Money doesn’t grow on trees.
No matter how you personally define financial success, my guess is that in some shape or form it points to the idea of some level of financial freedom. In its most basic form, it probably means you are moving from a living “paycheck to paycheck” model to a point where you have some savings to cover the unexpected expenses, with the eventual goal of “retirement” and freedom from the demands of an employer. (For purposes here, we will define “retirement” in a very broad sense that you attain freedom from a 9-5 employer and have a diversified mix of income to support yourself.)
If you are currently battling a “keeping up with the Jones” type of financial model… we encourage you to stop for a moment and ask yourself if it’s really worth it? Your finances should be modeled based on your budget and your values - both of which should be based on something more than simply trying to copy someone else. While it can be fun to have a bunch of shiny new objects around you, do you really need them? Make sure that you are intentional in your spending - otherwise, you might find yourself buried in debt. If you find yourself buried in debt, you are going to be that much further from eventual financial freedom.
Trevi Tip: When you are thinking about the winning the gold on the financial freedom front - it all starts with you! First, start by taking stock of where you are, and then think about some of the goals that you have!
Trevi is here to help provide you with some encouragement as you train for that financial gold medal - and hopefully some inspiration along the way. Follow us on social media and sign up for our email list.