Have you ever found your self sitting in morning or rush hour traffic wondering how did I get to this place? Your looking around at all the other drivers thinking “Are we all the same?” You did everything that you were told or knew to do. You excel at work and do your best to provide for your family. When pay day comes, you have just what you need to live. What are you missing, what did you do wrong? The answer is nothing.
We live in a society that after you graduate from high school, you either go to college or enter the workforce. With either decision financial obligations start. According to an article published by CNBC, seventy-eight percent of full-time employees live paycheck to paycheck. That means only twenty-two percent of the people around you are living without fear of missing their next paycheck. The rest are professional bill payers.
Professional bill payer has become a new occupation in every industry on all pay scales. Professional bill payers are those individuals that spent every paycheck and they have very little if anything to show for the money theyspent. The money could have been spent on bills, entertainment, or family. The question becomes is it necessary?Does where you spend your money allow for you to achieve your financial goals?
If you earn $50,000 per year, over a ten-year time frame you have earned $500,000. At $75,000 per year, that would be $750,000. At $100,000 per year, that would be $1,000,000. What do you have to show for it? Where did the money go?
The first step to change this pattern is to create a budget. In order to know where your money is going, you must track your spending. Once you identify where your money is going, determine whether it is an enhancement or a hinderance to your financial future. This will put you on the path to make wise financial decisions and not a professional bill payer.