Money Mastery Method 33 - Think Long Term
The easiest route in the short run often becomes difficult in the long term. On the other hand, choosing the hard (or disciplined) road now often makes life easier in the long run. "Hard" is really the wrong word. Here's what I mean.
I sum it up in the following statement:
The chief cause of financial failure is trading what you really want for what you want in the moment.
Therefore, the chief cause of financial success is remembering what you really want in spite of what you want in the moment.
Of course this is true in any area of life, not just finances. You really want a healthy body, but right now you want a brownie (or a second brownie). You really want to get up early and develop your own business, but at the moment you just want to sleep in.
With finances, you really want to be independent, and have assets that produce income for you, but right now you want to spend the money for pleasure.
You must decide what you want most, in every area of your life, and commit to it. When you really want a "long-term" result enough, then you have clarity and you don't need discipline. In this case, you really want to save your money, you really want to work out right now, and you really want to get up early and build that business.
Stop fighting with yourself and become one in your desires by focusing on what you really want and why you want it. Where do you want to be financially twenty years from now? Will your present path get you there?
Those who have mastered money have first mastered their own whims and desires. They know how to pass on some items that they want right now in order to obtain what they really want later.
In the next money mastery method we will expand on this idea by doing a ten years in the future exercise.