Metanoia Financial

Most of us are not saving enough.  I read a stat recently that almost half of Americans could only pay bills for 1 month if they lost their job today.  Does that sound like you?  If not, how many months could you last?

It’s hard to sleep at night knowing 1 month without income will destroy you financially.  It’s even harder when we’re in a recession and there is 10% unemployment.

The good news is that there is a simple cure to the problem – SAVE MONEY.  I think we all know this so what keeps us from doing it?  Here are a few reasons I see everyday:

1. It’s more fun to spend money

I can’t help you here.  If saving money isn’t a priority in your life, it will never happen.  Your money will find more immediately gratifying destinations and you will always be stuck in the rat race

2. The goal is too big

Cars cost a lot of money.  College education is expensive.  What do we do when a goal seems unattainable?  We give up or we never try.  This is why you have to break your goal down into bite size pieces.  Saving $10,000 sounds impossible, but I bet you can save $200/month for 4 years.  And even without any interest you’ll have close to $10,000.

3. Personal finances and investing are confusing

Unfortunately these are subjects most of us don’t learn in school.  But don’t let the fear of the unknown paralyze you.  Don’t continue saying you’ll do something different and then do nothing.  Find a professional or a friend you trust.  Read a book or take a class.

The bottom line is doing nothing and continuing in the same pattern is not going to fix the problem.  Develop some goals for your financial life and start saving today.  Don’t worry about the amount.  Just start to develop the habit.  You just might find that you like it.