What Will You Do With Your Raise?

​Yesterday I happened upon a creative live video to do with personal finance for freelancers.  The video has good advice but the thought struck me that it is amazing how many people are bad at this.  Even salaried employees on six figure incomes live pay-check to pay-check.  Robert Kiyosaki is right, it really is the mind-set that makes a person poor or rich.
 
We have some friends of friends who bought a house and over-extended themselves on the mortgage.  Once they moved in, they found out that the property had lots wrong with it so took out loans to fix the problems.  Nothing too wrong there, it wasn’t their fault, right?  They also took out loans to buy new cars.  Then had IVF and became pregnant.  Then, instead of buying a stroller that fits in their car, they are taking more debt to buy a bigger car so that they can fit the stroller that they want in the car.  Madness!
 
Surely no matter how much money they have, they will waste it.  This is why it is so important to decide what you are going to do with your money, no matter how much or little you have.  You need a rich person’s mind-set before you get rich, otherwise you will be sure to lose it.
 
The same is true for time.  If you do not know what you would do with more time, then you are sure to squander it when you get it.  If you decide what you would do with more time before you get, then guess what?  You can do most of what you want already.

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