Have you ever felt overwhelmed by listening to financial gurus? Not knowing who had the best approach? Which one is right or which one to listen to? I feel the same way, so here I am to share how to listen to those voices.
Know the niche of who you follow
They all have their own target audience and their own niche and approach to things. None of them are wrong, they just might not be the one for you. If you are drowning in debt there is one that specializes in that and is good at what they do for that. If you are one who tends to not be in debt, but overspends on unnecessary things, there is one for that. They have their expertise and they have an area they cater to generally.
Know your Situation and Build on that
I say take some from all or switch based on your life stage. I have taken their advise and adapted it to where I am in my specific situation. I have expanded it as part of my own goal to financial independence. Please do not hear me saying I am the best at it and please don’t hear me say you can pick and choose. You have to be disciplined. If you choose one that fits your situation follow their advise, but commit to it till your situation changes.
No Cold Turkey
Also keep in mind goals are hard but necessary things. Give yourself some grace. When my family needed to reduce eating out, we did not say no more eating out. We limited it to 1 breakfast and 1 lunch or dinner per week. If we had said no eating out we would have failed in the first week, ok maybe half a week. Your goals have to match your situation and remember it is extemely hard to go from all to nothing.
What Am I Doing?
I and the Growbucks FI team attempt to give practical advise and share our experience. If what I say doesn’t fit you, don’t follow it. If your lifecycle is different than what I am addressing then keep that in mind and maybe revisit if you find yourself in that spot. Whether it is me or someone else remember there is not a one size fits all approach to every financial situation.