While wealth building can be said to be simple, it is not neceesarily easy. What is simple about it?
Simple To Describe
Wealth building is simple to describe:
1. Build an Emergency Fund
2. Spend Less Than You Earn
3. Save and Invest The Difference
Aside from its descriptive simplicity, what makes it not so easy?
Easy Or Not
Humans have desires and wants. Therein lies the difficulties. We are so accustomed to expecting our immediate desires and needs to be met, that we procrastinate when it comes time to prepare for the future.
But the future wil be here in another second. Here it is now! Here it is again! What is intended by this description is that the future is imminent, it is upon us in every moment, and that preparing ourselves is part of our job as a human.
It is rare to spend every cent we have, to eat everything in the house and have not a morsel available. If we did that, we would not be able to get anywhere on the morrow. If we did that, we would be unprepared for the next day. So while we do prepare for the immediate future in many ways, we often neglect it when it comes to finances.
The solution is to focus on a new concept: Less Now, More Later.
Instead of defining our actions as deprivation, we can see that these new things that we are doing now (saving, investing) is giving us wealth-building capabilities. Our foundation is being strengthened. Our net worth is increasing.
The Hardest Part
The hardest part is to start. The hardest part is to accept a new way of thinking and behaving. The hardest part if behind us if we have decided to start.
How did you start? Let me know here.
The sewing sampler of England and Wales is from c1800, artist unknown. In the public domain. Courtesy Art Institue of Chicago.
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