Challenge Your Idea of “Normal” to Boost Your Financial Progress

There are people who really cannot afford to make ends meet . Sometimes, however, we say that we cannot “afford” things when in fact we can, we just prefer to spend money on other things. For many of us, the only thing that gets in the way of financial progress is our notion of “normalcy.”

“Normal” is constantly interfering with our finances. We adhere to the status quo, not wondering what else is possible.

For example, back in college, when I needed a car, I decided to do the “normal” way: deposit a small amount, take out a loan, and then pay it back at a high interest rate the next time. about five years or so. But my dad came up with a thought that changed my outlook on personal finance: “What if you had done differently?” he asked. “What if instead you pay cash for the car? Think about how much percentage you will save over time. ” So I tried everything in my own way. I went without a car for a while, saved up for a cheaper used car in good condition and saved a ton of interest.

I even did not occur to not take a car loan; everyone else had one. But changing my mind about “normal” was a tremendous step towards financial progress. In fact, What If is a great way to challenge your own assumptions about the status quo. What if you paid for the car in cash? What if you spend less on groceries ? What if you ask for a raise, even if you’re just starting out ?

Doing things outside the box could very well mean you make more money, save more over time, or really can afford to spend your money on something important to you.

At Forbes, Michael Kay, Certified Financial Planner, discusses the same idea. Kay writes:

… that how you define your money has a huge impact on your life: your ability to pay bills, educate children, buy a house, or retire comfortably and safely.

Some people believe that you regularly save money and do not fall into debt. Others think the future is incomprehensible, so what the hell? Enjoy today and don’t worry about it. Ultimately, we determine our actions based on our habits and what we consider appropriate or in our interests …

What is “normal” for you?

Does it bring you closer to happiness, satisfaction, comfort, and safety? If so, pass it on! If not, maybe it’s time for a new normal …

This is why it pays to be creative. Money is just a tool. Instead of using it the way everyone else does, think about the many possibilities of using it to optimize your finances.

You may not be able to realize all the possibilities, but as Kay points out, this mindset is critical. Read his full post at the link below.

“Normal” level of your money | Forbes


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