You know you’re financially out on a limb when an unexpected expense such as the car needing repair can send you off the deep end or worse, on a shopping spree. When did the expected normal wear and tear jump to the unexpected column of the balance sheet. We can just about pin point that exactly. It was when we stopped keeping balance sheets, check registers and dreary reserve accounts. We discovered it was much more fun to embrace the freewheeling practice of betting on the come.
What does betting on the come mean you ask? Its lineage dates to an old gambling term and means that you don’t have what you want or need at present but you are betting that you’ll have what you need when the time comes. Gambling is fun when we picture winning a big pot of gold and a rosy future. When we’re left holding an empty bag it’s no laughing matter. If you want to win this game there are things you can do.
First is to take the blinders off and get real about your money. This isn’t calculus, it’s the third grade math of income minus outgo. The income side of the ledger will be fairly short. It’s the outgo where it gets interesting and ground zero for your ego. The goal of this exercise is to see where you can skinny things up. What are the essential expenditures and what are elective. If you’re out on a limb realize that this is an unsafe position and your job is to get closer to the trunk before it snaps. Initially painful it will hurt far less than falling to the ground. And there’s a huge sense of pride of accomplishment that comes from reclaiming the reigns and being willing to go from victim to victor. Don’t waste another minute of your precious time worrying when the next unexpected expense will drop. Get prepared, get positioned and get ahead!