Why does everyone take the easy way in life? It’s simple – it’s easy! It is much easier to do things the fast “easy” way instead of doing things correctly and thoughtfully. The easy way has an immediate reward. The correct and thoughtful may reward you many-fold over a life time. One of the most important lessons to learn for financial success is to never take the “easy way.”
Taking the “Easy” Way Destroys your Chances for a Financial Future
Taking the “east way” destroys most people’s chances at a successful financial future. By taking the easy way, you are essentially trading your future financial success for the “now.” If you want a car “now” by financing it, then you are destroying your chances at saving for investments in the future. If you buy a mortgaged house, then you are destroying your chance to learn how to acquire a house (or many house) paid-in-full by careful financial planning.
Almost every time you take out a loan, you are trading your financial future for the immediate. Credit Cards and loans are an easy way to pay for life expenses, but they doom you to financial failure almost every time. In fact, if you are taking out loans for living expenses, you are likely already to financial planning and are “taking the easy way out.”
Taking the “Easy” Way Destroys your Motivation for Learning About Financial Things
If mortgage loans were outlawed next week, do you think that would end most people’s desire to own a home? Absolutely not! Most people would immediately seek knowledge or understanding on how to buy a home paid-in-full over some short period of time. Perhaps, they would create other creative ways for purchasing a home that would not involve mortgages. In any case, the public would quickly be forced to gain considerable financial knowledge and discipline in order to achieve the now “harder” goal of purchasing a house.
We all have heard of the concept of being a good steward with our lives. We all have the moral responsibility to manage our lives in the most productive and orderly way possible. This is the very fabric on which our society is built. When you do things the hard or correct way, then you get to very much take advantage of the peaceful financial systems that our present in our world. You essentially are able to allow “money to work for you” – instead of just “working for money” your whole life.
For example, a person that diligently studies and saves to buy a paid-in-full home will be much benefited by not having to pay mortgage payments. If he was able to acquire the paid-in-full home over two to three years, then what is stopping him in the future? The same person can acquire one, two, or maybe thirty more paid-in-full properties over a lifetime. He can receive rental income from these properties. From this income, the decreased demand for “job” income can even give the person more time to build their financial knowledge. Later in life, this same person could have a multitude of real estate or business-based assets generating income.
Or, the same person could have gotten a mortgage. His financial “mind” would have stopped there. He would probably still be paying on the same mortgage twenty years later. He would only partially own one mortgaged house.
Conclusion: The “Easy” Way is Dangerous
Do you understand now the danger of doing things the “easy” way with finances? The “easy” way is actually a deception: it is much, much harder over a lifetime. If your financial past is dominated by the “easy” way, you may need to completely start over in life. Your commitment to following the “harder,” correct way of approaching finances may require you to make some drastic changes. These changes may be incompatible with your previous, “easy” way of going about your financial life.
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Quiz 5 – Never Take “Easy” Way
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Do the Opposite of Everyone Else – Course #6
Action Plan – It’s Game Time! – Course #7