There is no easy money
We have all said it.. ‘If only I could win lotto’ or ‘A pay rise would make everything easier’. This type of wishful thinking can extend even further. We have all heard terrible tales of people who invested in something exceedingly risky, or something way out of their comfort zone, only to lose all their investment. Often we sit back and look at those stories in the news, wondering how they possibly believed:
- That making their money back four times over in one year was realistic;
- That buying a property completely with debt and renovating it with more debt was a sure thing; or
- That borrowing to buy a house when they couldn’t even make the monthly interest payments was sensible.
The truth is that they didn’t momentarily lose their minds; they were simply hoping for a quick win. To make a quick buck that would then put them on the path to being financially comfortable. In other words, when reality gets too difficult, we hope to be rescued. Reality is, there is no easy money. The only way to get your money sorted is to do the hard yards. Just ask Michelangelo. To us, his art seems so glorious, so wonderful … so easy. However, he knows better. It took years and years of hard work to turn into the master he became. It wasn’t easy, he simply did the hard yards.
Consider this, you get a pay rise – you spend it without knowing how it happens. You win the lottery, and when your current spending level doesn’t make a dent, you start buying things you never even knew you wanted. So, while human nature tells us that a quick win will solve everything, the truth is that whether you win the lottery or not, you need to get on top of your finances. You need to learn money habits that will hold you in good stead no matter what you come across. You need to take charge of your financial future.
What are some easy money temptations you considered in the past?