If your financial life was a movie, it might be very boring—I actually hope it would be very boring—but there would be three primary characters: your past self, your current self and your future self.
If you are using your current self to pay for your past self, it will be a dark drama.
If you’re using your current self to pay for your future self, sending money ahead, you’re doing fantastic and you’re going to get out of debt. This will be the feel-good comedy of the summer!
(I address mortgages and student loans specifically in the video. But every good movie needs an antagonist so, no worries there, this can still be a great film! I might be taking this analogy too far, and I apologize.)
The best way to stay out of debt is to make Future You the main character. Think about Future You as central. What will Future You want? What will Future You need? What unexpected storylines should Future You prepare for? Ask the questions, fund the answers and you will stay out of debt.
If your movie is depressing and way too long because you’ve made some mistakes, don’t beat yourself up. We’ve all made mistakes and they are in the past. Put them behind you. Focus on the future. Put your money toward the future. That will get you out of debt and keep you out of debt.
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