Last night my girlfriend and I got into a discussion over children and expenses. Though I am about as stubborn a person as you can find, she made a good point about affording kids and kids expenses that got me thinking about big picture. The truth is that as life goes on, there will never be a BETTER time to save money and pay off debt. For that matter there will never be a better time to do ANYTHING. Follow me here…
Saving money and paying off debt NOW
-No matter where you are in life there is no better time. If you are recently graduated from college or in your 20s and you can’t save money and pay off debt right now, how the hell are you going to do it when you are when you have a new home complete with mortgage payment, how about a car and car insurance. Or if you already have a home how about wife/husband, kids, diapers, babysitter, kids sports, family vacations. Or if you already have kids how about when your kids go to college? Or if your kids are all out of college and you are in your say, 60s, how about increasing cost of insurance, and medical bills. Or even if you are older and in good health you best be saving and paying off debt before your retire. As you can tell there is NEVER a better time than now. Salary increases WILL just get eaten up if you don’t get into the right spending habits right now.
Start a business NOW
A lot of the same things that apply to saving and debt also apply to starting something new. One of my friends told me he didn’t want to start a business until he had saved up a good amount of money and had “learned some more.” Now thats great and all, except that his idea had to do with social networking and quite frankly who knows where thats going to be in five months let alone FIVE or TEN years. And who wants to be 30, 40, 50+ working on a college social networking project? For some reasons I get visions of that old perverted creeper standing around at the bars just waiting for some college girl to be drunk enough to wander over to him. Other reasons: when do you have more time than before you are married with kids?
Getting in shape NOW
Theres that peyton manning commercial where he gives the pep talk that if you aren’t a professional athlete or under the age of 23 forget the six pack and just buy a bigger shirt…well there is a certain truth. As we age our metabolism slows down and our hormone levels drop making it harder to lose weight and harder to add muscle. Just think about having to run twice as far when you are 40 as you do when you are 20 to lose those l-b-ses, that should motivate you, you lazy couch potatoe you. In fact, stop reading this article and go to the gym, then come back and finish. Unless you’re at work, then you get a pass. I won’t even mention the fact that being healthy with benefit you greatly as you age. Oh, I guess I just did.
Clean your house NOW
The dirtier you let something get (I know, I have lived with 5 guys before) the harder it is to get it cleaned up later. Do it now, unless you like dirty crap all over the place. Especially dishes, nothing smells better than a dish thats been sitting in the sink for days or a week or a month or NINE MONTHS (I actually saw this at an apartment several years ago. Apparently they simply stopped using dishes but didn’t bother to clean the ones that HAD been used).
Do your taxes NOW
I hate doing taxes. I would rather clean the bathroom at your local gas station than do taxes. Really. That being said, getting it over with is better than having it hang over your head.
Take risks NOW
Invest in risky stocks. Don’t even bother with bonds. Go skydiving. Travel to a part of the world where you dont speak the language. These are the kinds of things you can only do (responsibly) when you are young.
The absolute best thing you can do for your worries and regrets in the future is taking care of them right now.