It has become increasingly difficult as a middle-class citizen to succeed and this is very disappointing. We have many more expenses than sources of income, which is a problem in itself. Inflation is 3-4% per year, which makes the money we do have worth less and less each year. Property tax, income tax, sales tax, and any other tax are increasing each year whether we realize it or not. As a middle-class citizen, we are fighting an uphill battle. Don’t be dumb with your money! We are responsible for utilizing the money we do have in the right places to make it grow faster than inflation. We are responsible for our past, present, and future. We cannot rely on anyone else to help us achieve financial stability. We cannot rely on anyone else to help us achieve our goals. We need to rely on ourselves to achieve what we want to in this life.
First, look at all of your expenses and determine, which ones are necessities and which are not. Although you may be doing well today, do not delay the opportunity to add a little more cash in your pocket. A $20 savings per month will add up to $240 per year, which can be an extra week or month of groceries depending on how big your family is. This extra week or month of groceries can really be useful in hard times when you really need it.
Second, look at your source of income and understand if it is stable. Are there any better opportunities out there or maybe more opportunities? Can you get promoted within or do you need to look outside? Do not delay and make sure you are thinking about promotions 6 months to 1 year before they happen. It is completely up to you to make these promotions happen. As a wise man told me, do not be the victim. He was basically saying, you are responsible for making things happen. Sitting around with pity on my face would not bring anything good to me or my family.
Third, make sure you are clearly laying out your goals. You will need to make sure you have direction and clearly understand the steps on how to get there. If you do not have good direction or a clear understanding of the steps you need to achieve your goals, then how will you get there without luck? Counting on luck is just plain stupid. I don’t know how else to say it! Imagine if a pilot of an airplane did not have clear understanding of where he was going. I am sure I would not want to be on that plane. Similarly, if you do not have clear direction on where you want to go, then you may not have many supporters.
Think through some of these things and don’t be dumb with your money.