Okay okay okay! I know what you are going to say. This is a community focused on saving money and supporting each other!
Yes, I agree with that. I agree entirely with supporting each other as we go through the journey; yet, I do have one major problem with it. Hear me out before you stop reading this article, as I think this is a critical thing to understand.
What Are Your 2020 Goals?
I am currently out in Los Angeles, CA and got to thinking last night as I was walking with a friend at Huntington Beach.
As the new year has begun, so many individuals are starting to post their goals for 2020. Thanks to @jaymillennial for sharing many of people’s goals in a consolidated spot! There was one consistent theme I was seeing with almost all of the goals for 2020. There was zero mention of earning more money. That’s right, zilch. Nada. Nula. Nul.
At first, I was very surprised by this. Then I began to think about what I look at on a daily basis when I am scrolling through my IG feed. Most of everyone talks about saving money on various things.
Taking A Step Back To Think About Spending Less
Now let’s talk about the one concern I have with this stance. First, is saving money important? Absolutely, if it is on things you don’t care about. I would never tell anyone in the community to not think about saving money. For crying out loud, that is one of the main focuses in the community.
The issue becomes when you take a step back to subjectively look at what is being done. Here are the facts. You can only save so much money based off what you are spending. This is a fact proven by overly complex mathematics. Let me give you an example so you can tell how complex this thought is. If you spend $3,500 a month, then the most you could ever save is $3,500 a month. Granted, at that point I guess you would be living under a rock and would starve to death at some point. The math is pretty clear though, you can only save $3,500.
For this very reason, there is only a finite amount of money you can save. This amount is in a direct one to one proportion with how much you spend. Complex math right? Not exactly, it is straightforward.
The main point around saving money should be focused on saving on the things you don’t care about. For example, I recently switched phone providers from Verizon to T-Mobile. Why? Because I don’t care about who my cell phone provider is. I also saved $40 a month and went from 3GB of data to unlimited data. Since I don’t care about my phone provider and I was getting a better deal, I went ahead and switched. Those are the types of things you should briefly spend time saving on.
The Amazing Thing Behind Making More Money
Now let’s get to what is truly amazing about making more money. The money making game is infinite! There is no limit to the amount of money that an individual can earn (theoretically). Have you ever thought about this?
Now don’t sit there and make excuses that you can only make so much money. Audit what you do from 6pm to 11:59 pm each night and I will show you times where you can earn money. How about from 5am to 7am each morning? We live in a world of abundance. A day and age where technology has given us the freedom to make as much money as you so choose. There are hundreds of thousands of ways to make money today that weren’t around 5 years ago. The most incredible thing is there is not a limit to how much you can make.
Here is the punch line: You can only save so much, but there are limitless opportunities to earn more.
- You can only save so much money. Literally. The math is simple. If you spend $3,500 a month, you can only save $3,500 a month.
- We live in a world of abundance. There are no limits to how much money you can make!
- Focus on making more money and saving where you don’t care!