Financial Articles

Disciplined, rigorous, dogged, determined, diligent, precise, fastidious, systematic, methodical, demanding, consistent, focused, accountable and responsible. How many of those words would be used to describe you?

A world-class athlete named Dave Scott won the Hawaiian Ironman Triathlon six times. In training, Scott would ride his bike 75 miles, swim 20,000 meters, and run 17 miles – on average, every single day. Dave Scott did not have a weight problem! Yet he believed that a low-fat, high-carbohydrate diet would give him an extra edge. So, Dave Scott – a man who burned at least 5,000 calories a day in training – would literally rinse his cottage cheese to get the extra fat off. Now there is no proof that he needed to rinse his cottage cheese to win the Ironman; that is not the point to the story. The point is that rinsing his cottage cheese was simply one more, small step that he believed would make him just that much better. One small step added to the other small steps to create a consistent program for achievement and progress. He had a plan and he stuck to it.

Do you know anyone who is overweight, out of shape or what is called a ‘couch potato’? They got that way using a program completely opposite to Dave Scott’s. They consumed more calories than they burned off, they sat around rather than being active and they chose foods based on taste than on fueling their bodies. Did they sit down and choose this health and fitness program? Probably not but they did follow it. The evidence is very clear.

What has being in debt have to do with a triathlete rinsing his cottage cheese? Whether you’re getting yourself out of debt or amassing your fortune you need to have a plan and stick with it. If you take a look at anyone who is saddled with a great deal of debt you can see they had a plan and they’ve stuck with it. They’re plan was to satisfy their wants immediately, live beyond their means and hope that it will all work out somehow. They weren’t conscious of their plan or ever sat down and chose this plan but it was their plan nevertheless.

Improving your money situation requires doing a lot of small things on a consistent basis. Simply become aware of every purchase, expense or vehicle for parting your from your money. Be smart, be wealthy.