Everyone have their own ideals in life.
From dream houses and fancy sports cars, to dream weddings and living lavishly . . . Most of us would want to make our life events as spectacular as possible! It is especially so for graduation, engagement and yes weddings! Yet, when hit by expenditure horrors, some would tweak their expectations on how to celebrate or what they want.
Believe in Wealth Growth
What separates these people who constantly settle for less than ideal, and others who seek to achieve ideals, is believing in steady wealth growth. For those who believe in more sources of wealth growth do not just rely on promotion, remuneration increment and end-of-year bonuses. They know that these are inadequate to attaining ideals in life. When wealth do not grow within these means, one’s mindset will be cultivated to accept less than ideal.
For instance, a couple chooses to spend on only a honeymoon than supposed peripherals such as engagement parties, photoshoots and banquet. Some may even skip it. They emphasize that investment in the marriage is more imperative. They then justify such change of ideals according to current financial abilities, instead of believing in potential financial returns.
Have Intrinsic Onus
Everyone is on the same field. You are not alone in facing high cost of living. Lack of financial education is adverse in financial management and achieving life ideals. Justify your seemingly unattainable ideals with financial reasoning.
You get to come to terms that you lack knowledge on how to grow your wealth. With education on simple investments, you could have done something a long time ago and have had control over attaining your ideals.
Investments aid, not hinder!
Reassess the risks of all your investments. Do you have simple investments that are growing money consistently? Or are you waiting on investments that may not come to fruition? Opt for small investments with frequent gains rather than waiting for the ‘big fish’. The latter may generate large returns but hold many uncertainties.
Furthermore, the inflexibility will hinder your progress in achieving your ideals in life. In contrast, simpler investments with consistent yields are more within your control in terms of growing your wealth and setting aside a part of it to work towards your ideals.
Sources that grow your wealth should culminate towards your ideals rather than lowering them to coincide with current financial capabilities. Set S.M.A.R.T goals to ensure ideals are within reach. Simplify your investments for steady disposable income, instead of simplifying every aspect of your life; when you only live once.
Besides, growing your own wealth is more possible than getting anyone to change the inflation, wedding costs or housing policies for you!
Jade Lee is the Chief Editor of Giants Learning Technologies. Her life purpose is to help; thus committing to youths like herself through articles regarding early financial planning. Jade graduated from Ngee Ann Polytechnic where she attained a Diploma with Merit in Early Childhood Education, having dedicated three years in understanding preschool children. Under a scholarship, she reads Bachelor of Arts in Psychology from Nanyang Technological University. Jade is also a commercial model and engages in Hip-Hop dance. Find out more about her insights via email@example.com
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