We live in a culture that is obsessed with convenience and doing the “easy” things. Everywhere you turn we are coming up with ways to do things faster and better. But when it comes to personal finance, usually what is easy in the short term is not always better.
Case in point:
- It’s easier to get a car payment when your car breaks down
- It’s easier to put your emergencies on a credit card
- It’s easier not to have to tell yourself no
- It’s easier not to sit down with your spouse and work together
- It’s easier not to have a plan with your finances
But just because it’s easy doesn’t mean it’s better.
- Car payments add risk to your life by sabotaging your ability to save money
- Using a credit card as an emergency fund will cause you to have bigger emergencies in the future
- Not living within your means is fun in the moment, but eventually you have to be accountable for your spending
- Not working together with your spouse might lead to less arguments today, but could lead to surprises down the road
When it comes to personal finance, we do the “easy” thing because it causes less pain. But really, all it is doing is delaying our pain to a later date. So the next time you are tempted to do the easy thing, just remember that easy isn’t necessarily better.