In nature, only things happen when people do them under pressure. It is the pressure that causes us to take action.
In school, remember pulling those all-nighters to finish those term papers or to study for that final exam? We all knew the dates when they were due, but the majority of us would wait until the last minute. When we feel the pressure to do something, we will do it. If there is no pressure then we tend to not take action; we are all great procrastinators.
Here are some examples of when people will take action with their money:
• Not until the financial emergency happens do they scramble to find the money to pay for it
• Not until nearing retirement will people begin to save for it
• Not until their children graduate from high school, then they start to save for their child’s college education
• Not until the credit cards are maxed out, they need to defer the student loan, are behind 2 months on the car payment and 6 months on the home mortgage, the pressure has reached the boiling point and then they seek help to change their financial situation
Creating a financial plan under pressure is dangerous. There is an easier way which involves no pressure at all. It may feel a little uncomfortable in the beginning since anything new does, but in the long run you will be financially secure. The easiest way is simple: Start saving now and be consistent each and every month. Don’t procrastinate. Don’t wait for the pressure to move you. Move yourself now by being a doer, not a pressure cooker.
Let me share a story with you that took place twelve years ago. I can relate to the ultimate pressure anyone can feel. It was not until I found myself living in a dingy motel room, jobless, having chronic pain, a broken relationship, shut off by my family and eating ham sandwiches out of an ice chest that I finally knew I needed to make some changes. I know what pressure and pain feel like. My saving grace was that I had money in the bank, my emergency fund. Without it I probably would have put an end to the pressure and would not be writing this newsletter for you. That event changed my life. That was my wake up call, my rock bottom. I made a commitment to the world during that time period. If I could overcome it and get myself out of the hole I put myself in, I would make it my mission to help people overcome their financial challenges. So this is why I write these newsletters, why I wrote a book on the subject of debt free financial independence, and how I’ve come to speak and coach people about their finances. I started this revolution so that people can live with money on their terms instead of everyone else’s. I don’t want anyone to suffer the way I did. The pressure and pain is too much to bear.
Since I did make it out of that hole, I am here to help people at whatever life stage they are in when it comes to money, whether they don’t know where their money is going every month, need some advice on how to plan their finances, or are on their last lifeline feeling the pressure of their debt load.
If you can remember just one thing from Tim Mann, remember this: Go against nature and start planning your finances TODAY and continue to be constant with the plan until you reach your own financial calm.