JW’s Financial Coaching Podcast Lesson #140-Lessons Learned from coaching: Financial decisions today impact our available options tomorrow

  • Continuing our series on lessons learned from coaching
  • How are decisions impacts our future
  • Why it is hard to look forward in our instant gratification culture
  • What our options will look like if we make these decisions today
  • Quote of the lesson from Nathan W. Morris






Yes we’ve all heard how our decisions today impact our future. But in our instant gratification culture it’s hard to look ahead and make decisions for tomorrow while seemingly hurting our ability to enjoy life in the present.

But our decisions today do impact our available options for our future. Today’s lesson we are continuing with our podcast series on lessons learned in coaching by sharing where this is an issue, why we put certain things off, and why ultimately we should do them today rather than later

The decisions we tend to want to put off

There are a lot of examples that come up when I’m working with clients and they are pretty broad issues but here is a list of the common ones.

  • Taking control of our finances-realizing the impact money has on our life
  • Doing a monthly zero based budget
  • Paying off debt
  • Starting to invest
  • Starting a side hustle

Why we put them off

We put them off because we look at our life how it is today, instead of how it will be 10 years from now. Chances are your life will look different from either a family, friends, career, or lifestyle perspective.

We also put them off because currently we might not have much in terms of assets to manage so we don’t take control of our finances.

We might be scraping by on $20,000 or $200,000 (seriously) and don’t think we have any extra money, so why bother budgeting?

Our debt might not be impacting us because the minimum payment is “comfortable” and everyone else has debt.

Maybe we can only afford to invest $50 into our 401(K) a paycheck so why bother as it won’t add up to much?

We’re so busy so we never get that side hustle off the ground.

Why do it then

How will doing this then give us future options? It will in a variety of ways:

It will start to develop habits that will last a life time and those habits will lets us take control of our finances. This will enable us to weather the storm during life events such as marriage, children, job loss, etc. It will also open doors to more success and those habits will allow us to handle the bigger success.

The decision to pay off our debt now, instead of later, will allow us to prosper which in turn will stop us from going further into debt in the future.

When we invest for our future, we look up and one day we actually have money in our account that gets our attention. That money in turn continues to get greater and then we’re able to put ourselves into position to live the retirement we want to.

Having ownership in an asset that creates income either passive or normal, like from a side hustle gives you a variety or career and income potential.

There will always be a reason to put off something. Your age, relationship status, children or no children, income, too busy, etc.

But instead of finding reasons why not to do something, instead make a financial decisions today that might not improve your life next week. But will make your life easier, less stress, help your spouse or family, and give you more options in the future.

Other resources mentioned in the show:

Today’s quote of the lesson is brought to you by the JW’s Financial Coaching Newsletter

“Everytime you borrow money, you’re robbing your future self.” ~ Nathan W. Morris

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