What Is The #1 Thing People Waste Regarding Their Finances?

The number one thing people waste regarding their finances is TIME

• Time is wasted intending to do something.  For example, “I intend to look at my 401K and plan for retirement”; “I intend to sit down and go over all of my expenses and create a budget” or; I intend to pay off all of my debt”.  

• Time is wasted being stressed about your finances, especially if you live paycheck to paycheck; it’s hard not to be.  In that case, time is wasted living paycheck to paycheck.

• Time is wasted contemplating different strategies. Maybe those you’ve read about, heard about, or researched, but still have not taken action because you’re not sure which one is the right one.

• Time is wasted not investing when you can gradually build for your future.

• Time is wasted paying high interest for years and years when you could use that 20-30% for you and your family.

• The longer you don’t get serious about saving money for emergencies, the longer you are unprepared when emergencies happen.

• The biggest waste of time, however, is when you were 22, and now you are 42 or 52, and you realize how much time you wasted.  You realize what your life could look like now if you created a financial plan 20 or 30 years ago.

Are you wasting time? If so, how?

Lana, Financial Coach