Something like this makes you think, you would defiantly need two people with the same mindset financially to be able to go through with this. Personally, I don't think I could cut back and save the amount they strive to save in that certain amount of time. There are too many things these two see as "wants" and in my opinion I see them as a "need". Such as things like a car and cell phone. But, you have to give this guy credit because he has the ability to live a happy life without what most people consider needs and that's why he is not working for a living anymore.
Monday, November 18, 2013
If i woke up broke
In this blog, Mr. Money Mustache explains what he would immediately do if he woke up and all his life time savings were gone and had to start from scratch. He isn't stupid, he knows he would be devastated but he is the type of guy who has the motivation to be able to bounce back from something like this. First he immediately says he would assess his goals, cutting all of the spending on wants and needs back a lot. The first thing he says to do would be to get rid of all the wants, and just focus on the needs and cut back spending on the needs dramatically. Then, him and his wife would find good paying jobs that wont affect there first goal of focusing on raising there 7 year old son, and then began the 10 year plan of saving.
Something like this makes you think, you would defiantly need two people with the same mindset financially to be able to go through with this. Personally, I don't think I could cut back and save the amount they strive to save in that certain amount of time. There are too many things these two see as "wants" and in my opinion I see them as a "need". Such as things like a car and cell phone. But, you have to give this guy credit because he has the ability to live a happy life without what most people consider needs and that's why he is not working for a living anymore.
Something like this makes you think, you would defiantly need two people with the same mindset financially to be able to go through with this. Personally, I don't think I could cut back and save the amount they strive to save in that certain amount of time. There are too many things these two see as "wants" and in my opinion I see them as a "need". Such as things like a car and cell phone. But, you have to give this guy credit because he has the ability to live a happy life without what most people consider needs and that's why he is not working for a living anymore.
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what an interesting thing to think about if one day you woke up and your entire life savings was completely gone. it takes a certain kind of person to have the motivation and drive to bounce back from something like that.
ReplyDeleteIf i woke up broke i would be devastated. To know all my hard work of saving is gone. But i really like his attitude that he has if it was to happen to him. He wouldn't keep himself down he would just work harder to re-save his money. I believe i would attempt the same thing if this happened to me.
ReplyDeleteI think if I woke up broke, I would have to be very careful with my money and cut back a lot of things. I think I would be able to have that mindset to get financially set, but doing is harder than thinking.
ReplyDeleteIn my opinion, this a really interesting idea to assess because although this would most likely never happen, just the thought of losing everything you worked for is truly humbling. It definitely takes someone who is driven and motivated to even consider such a topic.
ReplyDeleteIf i woke up broke I don't even know what thoughts would be going through my head. It amazes me how he has so much planned out with what if questions. I do not have anything like that planned out and reading these articles makes me realize that maybe I have been slacking and should start thinking about that stuff in the near future.
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