It seems that that in today’s world, all of the stories in the news are about the financial problems and debt in the world. I feel the roots of all financial issues are bad investments, whether it is loans, credit, cars, etc. A large problem with consumers is that they try to live above their means. The best way to get out of debt and live the way you would like is to save, invest wisely, and to only spend what you have. When people begin to spend more than they have is when they begin to go into debt and have to work for the next paycheck, just to spend it trying to pull your self out of debt. Making smart decisions by buying things upfront in cash can save you thousands. If you are in a situation that you need a loan then you should always make sue you will be able to pay the bill every month and always know how much it will cost with the interest added on. The reason for all of these poor decisions being made is the mentality of needing to look wealthier than you are. The reason people aren’t making enough money to live the way they would like is themselves. Dave Ramsey spoke about this citing that 80 percent of millionaires today are first generation wealthy. To the contrary of popular belief, this proves that there are still many opportunities to succeed in the U.S. today.
All entrepreneurs must face a great deal of financial difficulty. Starting any business is extremely risky and can put you in major debt. But I believe that with hard work and dedication anything can be done, so I believe I will be able to make it through making a business with as little debt as possible and any that I do attain I will attempt to pay off in as little time possible. When determining your career pathway, people should find what they love and make it work for them. To quote Confucius, “Chose a job you love, and you will never have to work a day in your life.”
