Live for the moment, how many of you live by that? How many of you still “YOLO” because you are not allowed, it’s not 2011 anymore! Yes, you only live once but that does not mean live pay cheque by pay cheque. You always have to save a percentage of your income in order to “YOLO” in the future too, right?!
Now why do people live for the moment with no future planning? Social media and other forms of mediums influence them. They can’t save because they need to have the next trending thing in their closet, on their hair/face or their parking garage. Stupidest of all, they need to show off to someone else!
There was a study completed which stated, a large part of Kim Kardashian’s business wealth is because her audiences live for the moment. This is because when an average person sees that they cannot afford in investments with a long term return such as properties, they opt out to short term remedies which are makeup.
That’s a funny right? Well it’s true. You think you are buying a $60 dollar palate, or a $20 dollar lip gloss because it’s a must have. Your outlook says there is no need for saving for the investment which you can’t afford now. Live for the moment, right? However, that $20 dollars adds up over time in how much you invest in short term wins. Trust me it does!
You think I am crazy, because how will spending $20 dollars save you in owning something big as a property. Here is a story, when I was in my early 20’s, I had three jobs and full time schooling. Although, at that time most of my work experiences were in retail, it still turned out well because I was too exhausted to actually walk around to find items I can spend on. I worked too hard for my money to go to waste. Another, thing that motivated me is the idea of money piling up in my back account. I like numbers. At that time, it was probably a lot of mixed feelings/exhaustions but when I look back now it’s actually the best decision of my life.
At a young age, I could afford things people wait to achieve very late in their life. This is why, you need to save! You need to budget, and NOT focus on short term gains. Honestly, no one really cares if you have a Gucci Shoe or not. Do you know a MAC lip gloss is priced at $18 dollars and is bought from Color Pop make which sell the same colour for $6 dollars. These two brands are both making money so can you imagine what the product actual cost is then? You are making them money with your hard earned earnings.
Has it ever occurred to you by investing in something short term you are making the other person rich? Invest in yourself first! Yes, if your finances are straight then you may spoil yourself here and there but you need to keep an eye on your expenses and forecast the finances.
If you require assistance in managing finances and require a template, please feel free to reach out …