Financial Self Assessment

I feel it's vital we all know ourselves in order to be well developed individuals as well as grow. So hopefully my own self assessment will help myself and maybe allow others to take this step.

It was a time I viewed my success as good grades, awards, and graduating of course was a big milestone. How we all view success is different but after college my successes morphed into being able to purchase what I pleased, go wherever I wanted, do the things I enjoyed frequently, promotions/raises at work, and having a high credit score. I didn't invest the type of money and time in investing that I did in life's pleasures and having new and exciting experiences and no doubt my net worth reflected this. I created businesses, websites, sold products on a small scale but because of "job security" my focus was on extra income and I think the lack of permanent focus caused a loss in motivation and thus a failure in efforts. In a nutshell I had the priorities of a typical consumer.

Analyzing this mentality took years because I didn't see anything wrong with this, I was in a good place, independent, and happy. There is always a but isn't it? :) I was comfortable which just typing that word now makes me sick. Being comfortable is about the same as settling in my eyes. In comfort we relax, we live in the moment, and really what is the point of improving if everything is fine.

"If it isn't broke, don't fix it"

My priorities were broken and unfortunately for the longest I didn't think so. My growth was stopped because of my contentment. A consumer's net worth is in the "things" they acquire which are normally depreciating assets and what need does these possessions fulfill? Buying another pair of shoes when you have 10 that work fine is a want and so many of us confuse wants with needs. Do I really need a new 60 inch HDTV when my 32 inch still works fine? Asking these questions can really slow down wasted money but the key for me was creating rich thoughts and rich habits.

Shifting habits and motivations was key for me but not the easiest thing to do. Once I turned 30 I had the biggest reality check I was creating mental goals without taking steps to reach them. How can I retire before 40 when I have only managed to maintain 5 figures in my portfolio? When I wrote down my goals I begin to force myself to meet them because I am one to finish things I start. Job comfort is now a reminder of how few chances I've taken and that I hold on to fear of failure over the drive for success. One step at a time, cash flow will come before I abandon corp. america, and since I can't go back in time the first big step was shifting away from a consumer lifestyle.

The past comfort for me was easy but now I've stopped most of the pleasures I've enjoyed for years. As uncomfortable as it is to not eat out when I please, to not buy gadgets, not go out and waste so much money in the moment is now being directed to investing and savings. I also have more time and energy to gain financial knowledge and personal development. The odd thing about comfort vs. discomfort is I don't look any different but I feel so much better.