There’s probably never been a more important time to start educating yourself on personal finance.
Why you ask? Take a look at some of these statistics…
- Only 32 of Americans maintain a household budget.
- Half of American households live paycheck to paycheck.
- Americans hold over $1 trillion in credit card debt.
- 21% of Americans have no retirement savings.
- 55% of Americans believe they will have to work past age 65.
- 43% think there is a possibility they will outlive their retirement savings.
- 40% of Americans would struggle to come up with $400 for an unexpected expense.
While this may not be everyone's situation, the statistics paint what will become a horrifying reality to many people who do not take control of their financial futures.
Now we can look at these numbers and think that they paint the whole picture of what’s going on financially in someone's life. Many people think that if they can just earn more money or spend less of it, that it would solve all of their problems but unfortunately most times that is not the case.
See our money struggles don’t just affect our bank accounts, they can truly affect every area of our lives. That is why thinking that you can just make more money and all of your issues will just melt away is flawed thinking.
It’s also why at Infinite Investor we take a comprehensive look at personal finance because we understand that while money is just one thing, it can and will create ripple effects that will be felt by you and your family in other areas of your life.
What do we mean…
When your money is not right, it can affect:
- Your relationship with your spouse or significant other
- Where and how you live
- Where you send your kids to school
- If you eat healthy or buy more processed foods
- The relationship you have with your children
- Can keep you stuck in a job that you don’t like
- Can lead to stress and an unhealthy life
- May prevent you from starting the business you desire
- Can keep you from getting promoted
- Keep you from getting proper medical treatment
- Cause you to live an unfulfilled life
See, no one actually desires to be broke, have bad relationships, to be in poor health or just be unhappy in life and I’m not suggesting that having money will magically solve all of the problems that you may encounter.
But taking the time to understand the role that it plays in our lives is incredibly important and then learning how to acquire it, increase it and successfully manage it will do wonders in allowing you to build and maintain a financial foundation that can sustain your family for generations to come.
If you think you that your down for the ride...then strap on your seat belt and lets go.