Featured article – What is ‘the video game crash of 1983’
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The thing about full-time work is that a lot of your life is dictated by someone else.
You HAVE to be in a specific place, at a specific time on specific days of the week, with usually very little exceptions or flexibility.
Your life story is being written by someone else, for the benefit of someone else; your life has been governed by signatures and working norms that often seem more arbitrary than being for the purpose of creating a successful business.
Being in a position to step away from this is often impossible or largely down to a lot of luck.
But we can position ourselves so this is less of an inevitability by being more aware of where each and every pound we spend is going.
It’s a long and winding road, but the opportunity is there to build a foundation to serve as a springboard to greater financial stability and progress.
Although you might not be at the point of complete financial self-sufficiency, you’re slowly crafting out the life YOU want and that you can determine in your own time.
It’s a hell of a long journey and something you may never fully achieve, but by at least attempting to put yourself in a position of self-sufficiency, you’re slowly chipping away at those traditional life expectations that keep you firmly bolted to someone else’s whims.
Start by setting the scene – create a budget and understand where your money goes every month. Do you really get the most out of your £30 gym membership or £10 Spotify subscription? Could these be cut out for running or cycling for free or could you put up with the free membership that includes the odd ad.
Then introduce your characters – what are your immediate priorities? Do you have high interest debts that need taking care? Would you be better off using the snowball method or should you be tackling the higher interest debts first?
Develop the story – how will you go about creating the future life you want? Have you considered investing? Do you know how compound interest works and how it can benefit your finances over the long term?
Is there a plot twist? – How will you deal with any mishaps along the way? You lose your source of income; your investments fall 20% in one day. Stay strong and remember why you started writing your story to begin with.
Bring everything to a resolution – How does the story conclude? Have you reduced your working hours to part-time to do more of what you want to do? Are you still working full-time but with a nice cushion should you decide to pack it in one day?
Doing this takes time and perseverance. Take each step in isolation and try not to get too overwhelmed with the long term picture.
Writing a story is all about segmenting the overall narrative into small parts and tackling those parts in small but consistent doses.
Consistency is the key. No matter the size of your story, as long as you keep at it, at a consistent pace, you’re sure to succeed.
By becoming more financially aware, you’re taking the pen out of the hands of others and putting it back where it should be – with you and you alone.
It’s your life. Why would you lend out the pen so easily to those that couldn’t care less about the story it’s writing?