This is something I struggle with often. Motivation is the fuel needed to launch those projects and ideas you have that need sweat equity before any profits come out on the other end. Usually the source for long term motivation is clear (i.e., infinite freedom, time with family, etc), but what about short term motivation. What is going to put the fire under your ass when all you want to do is sit on the couch and watch a night of T.V. pass you by (while you should be working on your business for example).
I believe I have a solution: DEBT
For someone who has strong, basic financial principals down (saving, no consumer debt, etc) debt can be an excellent motivating factor for making money.
If I can't pay my bills one month, and I have to carry over a balance on my credit card (after paying the minimum), or I'm carrying a balance on my checking plus account with my bank, these facts role around in my head all the time, 24 hours a day, I'm even dreaming about where I'm going to get the money to pay for these expenses. This acts as a fuel to think of new ways of coming into some money. Now that extra "motivation" pushes me into coming up with new ideas, working on previously abandoned projects and forces me to put down the remote control, and find new/old ways to make some cash.
As for how to get into debt, there IS a certain way to do this: Instead of paying off all your monthly expenses, let the non-urgent expenses wait, and deposit those extra funds into some sort of investment vehicle. I believe this strategy is also called "paying yourself first".
What strategies do you use to motivate yourself?
2 comments:
I randomly look at nice houses and nice restaurants and say to myself ONE DAY!
...and that day is almost here
@ Moneymonk, great addition to the post, I do the same thing sometimes.
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