Wake up, wake up, wake up it’s the 1st of the month!
Hey, Guise! Today is the first day of August! Let’s pretend like it is New Year’s Day and tell everyone our New Month’s Resolutions!
Ok, that was corny, but bear with me… Mmkay.
I’ll start the ball rolling by listing my general financial resolutions. Here we go:
- Get out of debt- COMPLETELY!
Even when I am wealthy, it can be hard to maintain debt. I mean, every time I get paid, I have to turn around and pay a debt collector. No Bueno! So, the simplest (but not necessarily the easiest) way to keep more of my money, is pay off the debt I owe to other people/ companies. In turn, that money can go into my saving(s) and investing(s) accounts, instead of having to pay high interest on that burrito bowl I had for lunch, last month!
- Create a Well-stocked Emergency Fund
To me, the easiest way to stay out of debt is by avoiding debt situations in the first place. Emergencies happen. Having an emergency fund for those unfortunate surprises can save me money, in the long run. Sure, it’s gonna suck to have to fork out the cash for a dead battery now, but I won’t have to pay interest on it, 10 years later. Na’mean?
- Create Multiple Sources of Income
I don’t care how much I may love all of my jobs, if I don’t show up to work, then I don’t get paid. I want to create revenues that pay me without having to be there. It’s never a bad idea to have a little money cushion to protect me in case I lose my job or fall ill and can’t work, anymore.
- Planning for early retirement
I don’t want to wait until 65, to retire. Hell, by the time I get to retirement age, they would have moved it up to 80! I don’t know that for sure, of course, but I don’t want to wait to find out.
- Be a Blessing
I am a big believer in Karma. Small acts of kindness, without expecting anything in return, is what it’s all about. However, I would like my small acts to become large acts of kindness, and that usually requires capital. I want to be a philanthropist on a bigger scale, one day.
These are just a few of my main goals, on my journey to wealth. I don’t have a timeline, just yet. Maybe by the time I’m 50 years old, is a good start. Ideally, even sooner.
What do you think of my list? Is it doable? What’s on your list? Let me know, in the comments!