You cut your lifestyle expenses down to as little as possible and paid off your student loans way ahead of schedule?
You got serious about saving for an emergency so you are ready when the inevitable happens?
You waited 1, 2 or 3 more years to buy that home so you could have 20% down rather than taking on a mortgage with little or no down payment?
You paid yourself first by putting away 15% of your monthly paycheck towards retirement?
You set financial goals for the next 6-12 months, 1-5 years and 5 years or more? Actual goals with real numbers and real dates.
You got serious about setting a budget each month that put those goals into action?
You gave 10, 15, or 20% of your income to your church, nonprofit organization or some other cause that is important to you?
You had the hard conversations with your spouse about money and planned together rather than continually being frustrated with one another that you’re not on the same page?
You got rid of that car that is getting in the way of achieving other financial goals?
You convinced yourself you didn’t need to live like a pharmacist despite making a pharmacist salary?
We can hope our debt goes away and doesn’t impact the rest of our life, hope we have enough saved for retirement, hope we don’t have an emergency, hope there is some left over to give and hope the housing market doesn’t go down in value after buying a home with little or no money down.
Or…we can choose to cut our lifestyle and put in a budget in place to help pay down the debt, choose to pay ourselves first and make retirement a reality rather than a wish, choose to make giving a priority, choose to have a fully funded emergency fund knowing we will be ready when the time comes, and choose to take the time to save 20% down when buying a home.
Now is the time…to take control of your personal finances rather than reacting to what comes your way. Each of these are a choice, some harder than others, but nonetheless a choice.