Comments on: Financial Success Requires Active Decisions

By: Free Your Mind

Free Your Mind — Wed, 16 Sep 2009 20:03:17 +0000

This is a good post.

Most people are reactive rather than proactive. Being proactive puts things in your control. And like Craig stated, doing that is good in ALL aspects of life. But unfortunately, because people seem to subconsciously believe that someone (parents, kids, government etc… ) will be there to save them when things go crazy, most people choose to do nothing.

By: Daniel

Daniel — Tue, 15 Sep 2009 11:53:59 +0000

I’d add that you can make things even easier if you make your conscious decisions consistent with automatic or unconscious actions too. Set up a monthly automatic withdrawal into an investment account (making a conscious one-time decision so you can put automatic savings on autopilot). Put money into a bond fund or other conservative investment (a conscious decision that generates automatic passive income, again on autopilot). These kinds of decisions are powerful because they help your money work harder but they don’t require a lot of thought once the primary “conscious” decision has been made.

Dan
Casual Kitchen

By: Ellen @ MoneyLounge.net

Ellen @ MoneyLounge.net — Mon, 14 Sep 2009 16:59:27 +0000

A lot of these suggestions involve stepping out of your comfort zone, which is something I’ve been thinking about a lot lately. Many of us don’t feel comfortable enrolling in college courses again, applying for a new job, or even just getting off the couch each night to do something more than watch reruns. Lately, I’ve read a few good articles about how forcing yourself into new situations can really benefit your personal and financial success. To win the race, you have to train. To get somewhere, you have to push yourself. These are really important things to think about when we are trying to make improvements in our lives: active decision making and pushing our boundaries.
Great article!

By: David@DINKS Finance

David@DINKS Finance — Mon, 14 Sep 2009 16:26:42 +0000

Here’s my take on it – it’s a hell of a lot easier to just sit on the couch and veg all day. Catch a few movies, some new shoes, maybe come across something interesting. It’s a LOT easier and of course more comfortable.

But at what cost? If you are avoiding reality it’s really not worth it. Instead think about your future. Heck, think about your present. Do you hate your job and know you won’t last ten more years? Looks like you are going to need a big emergency fund in case you take drastic steps like changing your career. Are you setting yourself up for success? Rich people usually aren’t just lucky, they put themselves in a place where it is more likely they will be succesful.

By: Robert

Robert — Mon, 14 Sep 2009 16:01:02 +0000

I think deciding to spend less is easy. However, I think the most difficult part is when the time comes to actually DO it. I don’t know how many times I’ve said to myself “I’m going to spend less,” then a month or two later I’ve continued most of my same habits. Sitting down, writing out a budget and actually taking steps to cut costs is the hardest wall to climb. Once you’re over, though, you feel a lot better about it. I would also recommend starting a savings account and having a portion of your earnings deposited to it directly. Decide how much you need to live on each month, subtract that from your monthly earnings and have the rest automatically transferred to your savings. You can do this through direct deposit at work or through your bank.

By: Craig

Craig — Mon, 14 Sep 2009 14:41:57 +0000

Being proactive in your life is usually the only way you will get ahead, learn more, and better yourself for your future. Not just in finances but in all aspects of life. I have taken some of those tips you have mentioned and at a young age have made some active decisions to slowly begin planning for my financial future with what I can afford right now.