I regularly meet people who believe they should be able to continue behaving the same and still achieve different financial results.
Here are some examples:
- The person who wants to eliminate financial stress, but refuses to save money.
- An individual who dreams of a fantastic retirement, but fails to build net worth.
- A parent who wants their children to attend college, but saves nothing for their education (but they DO have 95 video games and three different game consoles)
- The person who wants to win with their money, but chooses to not carry health insurance (even though we all experience sicknesses)
This is insanity. If one wants to achieve different financial results, it is important to change. Most of us, however, struggle with change. It is frustrating to change things – especially financially. It requires education, focus, partnership, and time.
Most people change their financial behavior when the “Pain of Same” becomes greater than the “Pain of Change.”
Situations such as:
- When you can’t stand the idea of being broke another minute so you establish a savings account that automatically zaps money from your paycheck before you ever bring it home.
- When the thought of not being able to pay for your child’s college becomes greater than telling your kids that you will no longer purchase video games until the account is fully funded.
- When you consider the risk of not having health insurance, you obtain a high deductible health plan to prevent catastrophic medical expenses that could cause bankruptcy.