The concept of balancing spending and saving takes an immense amount of mastery and skill. We must tap into a certain mindset that allows us to fully grasp the depth of management. Because let me tell you, it’s way deeper than you would expect. We would expect the skill to be purely superficial, physically working and physically not spending. That could not be further from the truth. One must understand the psychological meaning behind their motives.
Warren Buffett wisely said “The most important quality for an investor is temperament, not intellect. You need a temperament that neither derives great pleasure from being with the crowd or against the crowd.”
Connecting this back to money management, we can correlate being an investor for our own futures. Being a self investor means prioritizing the future version of yourself. Taking time to do and complete tasks in the now will help your latter self.
Let’s dive a bit deeper. Reaching your endpoint means establishing goals and objectives. Before you establish your goals and objectives, let’s differentiate these two concepts. A goal is simply what you would like to accomplish. An individual’s goals stem from their vision or mission. Applying this to the business world, the ultimate goal would be financial freedom. Goals are strictly conceptional, while objectives are specific and measurable.
Overall, from goal stems many objectives. An achievable goal is accomplished by tapping into the right mindset. This mindset being one that encompasses acceptance and an open mind. Money management about allowing oneself to physiologically prioritize the end goal. That is all it takes to reach financial freedom.
Let me explain. Placing yourself in the position where you subconsciously prioritize your future means every move one makes is for the long run. This process cannot be rushed. You will begin to find yourself BUILDING. Building skills, building confidence and building your future.
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