Friday Food For Thought: What’s your excuse?

We’ve been hearing a lot about how He Who Shall Not Be Named has reduced the unemployment rate to amazing lows. Wall Street Journal recently published an article entitled, “US Jobless Claims Fell Last Week” stating, “Jobless claims have remained low for years, a sign that employers are laying off few workers in the U.S.’s tight labor market as some managers face difficulty finding qualified employees”. I could turn this into a discussion on how we should always be prepared for an opportunity rather than miss potential opportunities because we were unprepared, but that’s not really the point. It is, but it isn’t.

Let’s back up and review the WSJ quote, specifically the part that says the jobless claims have been low for years. That’s different than a year and some change. It would appear as though the WSJ has reason to believe this low unemployment was happening prior to the current administration.

That’s not the true point of my thoughts on the article either. My initial and most mind stirring thought is I am glad people are employed at higher rates, but do they know what this means overall? There’s more buying power among the population which causes deficiencies in available product if left unchecked. Of course, it won’t go unchecked, the costs of goods and services will increase, requiring more of those earned dollars to acquire the same amount of products. Bottom line, it’ll cost everyone more money to purchase things which in turn reduces buying power. What can we do on our own to help offset these costs? Fact: A penny saved, is a penny earned.

It makes me wonder, at which point do we as a whole, begin to jump out of this perpetual cycle and begin investing in ourselves and our communities? The first crutch may be something along the lines of, “Maybe a newly employed person doesn’t have the extra money to invest”. It doesn’t take a rocket scientist to understand that. However, that is one reason why I started the Health & Wealth challenge. Without changing our lifestyle drastically, we find ways to save money and spend more time with our family. The money we saved is put into a separate account. Our goal is to see how long it will take us to save enough money to purchase an investment property. Our biggest savings have come from finding low cost entertainment for the family and date nights, paying fewer people for providing services for us and performing them ourselves, making our own kombucha and by planting a garden with fruits, vegetables and herbs we eat consistently.Everyone will have a different experience, so maybe a newly employed person is focused on obtaining or maintaining the basics, such as a place to live, or even beds to sleep on. They can save money in different ways, a little at a time. Maybe they decide to take the bus, bike or walk for a year instead of purchasing a car. The money saved on transportation could be put away towards an investment. More Food For Thought, I teach people how to utilize creative financing to purchase investment property in my Wealth In Real Estate seminar, sometimes with no money. This enables a determined, unemployed person to make an investment and create their own income.

As credited to Tony Robins, “There are only two options, make progress or make excuses”. Which are you making today?

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