Financial growth - Slow is better than static
Financial growth can be slow if you don't have much to start with, but doing just a little is much better than doing nothing
I started my professional career in management consulting. Even though I drifted way slightly to work in Project/Product Management, I still carry many things from my early days as a business consultant.
One of those things is actually advice from an informal career mentor that I had back then and still follow up to this day. I read one of his latest articles yesterday, and I found yet another valuable yet straightforward piece of knowledge.
The article's title was "Keep Moving Forward," and the author used an interesting travelling metaphor to convey his point. He said that he learned that if, for example, his flight got cancelled, the best thing he could do was keep moving towards his final destination through whatever means were available.
That could be trying to get a different flight that will get you closer to where you want to be or maybe renting a car and driving towards your final destination and trying the nearest airport. The key is to keep moving towards your goal, no matter what. It may take longer than what you had planned initially, but at least you are moving towards your destination rather than standing still.
While that is a helpful travelling tip, it's obviously a metaphor for something much bigger that can be applied to most, if not all, aspects of our lives and financial growth is not an exception.
Financial growth: slow and steady
Some time ago, I wrote an article about what is "my number", where I talked about how much I need to make to live the life I want to live and that number is something around 86k USD annually.
In that article, I provided some details of this "ideal" lifestyle, and while it's a relatively simple one, it does involve not having to work. That means I need to generate that money exclusively from passive income sources. That is not an easy task, and since I don't come from money, it's even harder as I'm basically starting from scratch.
The silver lining is that a little over ago, I took an important and potentially life-changing decision to get involved in the world of cryptocurrency, where abundance, rather than scarcity, is the ruling mindset. Crypto has many risks and challenges, that is true, but it also has a lot of opportunities.
Even if you don't have much to start with, which is precisely my case, it is still possible to get involved. An excellent example of that is LeoFinance, a tokenized blogging platform on the Hive blockchain where you can write and monetize articles related to the world of finance, cryptocurrency and money in general.
If you start from scratch, things may be slow at first, and sometimes you may think you will never reach your goal. I know because I felt like that many times. The problem is we humans have a hard time thinking long-term because our brains are wired to seek instant compensation, and when we have to think years ahead, it's easy to get frustrated.
But it's at times like these that the lesson from the metaphor at the beginning of this article becomes even more important. You got to keep moving forward. You have to keep in mind that life-changing money is not created overnight, so you have to think long-term and keep investing in yourself. It's amazing what a few dollars saved every month can become after some years in the crypto-verse.
Final thoughts
The path to financial freedom is not an easy one for those who are not likely to inherit a considerable fortune, but slow and steady will beat static any day, so keep your eyes on the prize and remember that every dollar you put towards your financial goals will put you one step closer to your freedom.
Posted Using LeoFinance Beta
