What’s the point of being busy if you aren’t productive? Let’s say you book appointments with people to present the topics covered in this blog. A common objection you might find when setting these is lack of time.
If you were to ask these same people with no time to pick up a secured $5,500 check from you, however, they would certainly do it.
Since you aren’t handing out money and only looking for ways to help maximize theirs, they won’t take you (or themselves) seriously. Over the course of a lifetime, this mentality will cost like-minded people immensely.
What contributes to the values and behaviors that are harmful to their circumstance? Part of it is a consumer mentality.
Being Busy with a Consumer Mentality Carries a High Cost
Not many people know how to save, structure, and make money but everyone understands spending it. With every expenditure they push themselves further into a financial hole.
Conversely, it takes time to build a producer mentality.
That’s the mindset that makes time for what’s important, listens intently and asks the right questions like: Why don’t more people save? It also leads to making important decisions and taking the best course of action.
What will it cost to spend the time elsewhere? The answer may surprise you.
The Real Cost of Time
Let’s say someone forgoes discovering an $83 monthly savings opportunity. That’s a total of $996 a year.
Suppose there was an investment vehicle yielding 5% interest annually. Five years later, this person denied over $5,500. In ten years it’s $12,500. That’s doing a lot with very little.
Enough of this type of money around may impact a child’s education, a car purchase, or dream vacation. What will $12,500 in savings mean for your household?
You don’t have time to think about that or do you?