The Number One Thing Spent Foolishly...

Time is probably the number one thing that people spend very foolishly. People go through life with dreams but no goals, no mile markers, no plan or directions on how to achieve those dreams and make them a reality. They spend time, but they do not always spend their time focused on accomplishing what they want in life.

Often, time is spent foolishly. I think that time is the number one thing that people waste. We even have a phrase for it: People sit around "just trying to kill time".

Now if you have no dreams and if you have no higher goal in life than to make it from one moment to the next, then perhaps killing time is all that you can think to do.

Many people do simply that. They have nowhere to go, they have no idea about how to get where they want to go, and so they simply go nowhere.

Maybe you are different. Maybe you have taken your dreams and planned out how you want to make those dreams a reality. You weigh 300 pounds today, and in a year's time you would like to weigh 200 pounds. You go and talk to your doctor and see just what you can do to make that happen.

You have set a goal. And once you have your larger-than-life goal in place, then you need to start walking in baby steps. What are those mile markers that you can achieve to reach your higher goals? You want to generate $5,000 per month in passive income; what can you do today to passively generate $5 per month?

Having your plan in place, you can focus the attention of every minute of every day toward staying on course. Every minute will either get you closer to or take you further away from achieving your goal.

Spend time to achieve your goals; don't spend time foolishly.

Disclaimer

How Most People Spend

"The acquisition of wealth begins with the proper spending habits: Spend foolishly to be poor; spend wisely to gain wealth."

Most people want to be rich. Even if they are unwilling to admit it, most will say that they want to be able to own the types of things that rich people can afford. Even those who say that they want to live modestly still want to have access to "the comforts of life".

Typically, people go about trying to achieve this ideal by going on a "spending spree". Luxuries in the style of houses, cars, boats, clothing, fine dining, etc., can be obtained - if not with cash, then with a line of credit. And that cash or that line of credit typically forces the spender to go on another kind of spending spree - a "time, talent, and ability" spending spree (also called: "get a job" or "look for a better job").

An employer gives money to employees for spending their time, talents, and abilities at a place of employment. The steady paycheck that these employees receive allows them to purchase (or have the credit to purchase) the "good things" in life. And everything goes along smoothly, until...

They reach their financial limit.

The solution that many choose is to go on another spending spree - to cash in on their home equity, to spend their already taxed "time, talents, and abilities" on a second or even a third job.
Once again, everything goes along smoothly, until...

1) The financial limit is reached.

2) Their bodies physically wear out. (Also called: retirement)

What is the end of this kind of spending? Is this kind of spending wise or foolish? Is there another way?

Disclaimer

Disclaimer

This publication is designed to provide competent and reliable information regarding the subject matter covered. However, it is offered with the understanding that the author(s) and publisher(s) are not engaged in rendering legal, financial, or other professional advice. Laws and practices vary from state to state and if legal or other expert assistance is required, the services of a professional should be sought. The author(s) and publisher(s) specifically disclaim any liability that is incurred from the use or application of the contents of this blog.