“Poor financial management is like gambling; the house eventually wins.” - MJ DeMarco
There are three paths you can choose from: the Sidewalk, the Slowlane, or the Fastlane.
The Sidewalk is most traveled because it’s the path of least resistance. For people who go on this path, the plan is no plan. They trust that the system will take care of them. They trust that they will become happy and wealthy by following formal education and standard career paths.
You might be a sidewalker if:
- You finished your formal education and haven’t learned anything since then.
- You change your job frequently.
- You live from paycheck to paycheck.
- … and so on.
Sidewalkers will remain sidewalkers if they keep making poor financial decisions. You might be lucky, win money, or get a good contract for creative work; however, if you don’t make good decisions, you will be broke after all passes.
What Is Wealth?
According to MJ DeMarco, there are three fundamental F’s:
Family - Relationship with family, friends, community, and God.
Fitness - Health, vibrancy, passion, and boundless energy.
Freedom - Choice. Freedom to live where you want to live; freedom from bosses, alarm clocks, etc.
Money does not buy happiness. But neither does poverty. Happiness is strongly connected to relationships and freedom. People with strong family bonds, many friends, and a well-connected community are the happiest on the world. So are people with freedom. And guess what? You don’t have freedom if you spend most of your life in a job you don’t enjoy.
So, if money is misused, it will give you even less freedom. Less happiness. However, well-used money can bring you much greater happiness.
Take responsibility, followed by accountability. This means first, take responsibility in every area of your life, in everything that happens to you. And then, be accountable and work on those areas.