When someone or some couple finally makes the decision to put their personal financial picture on the right path they typically set a vision of how it will look when they finally get on the right path. As that vision becomes clearer they become more aggressive to achieve and reach the vision they are after. Aggressiveness is huge in success. While I am working to help each client build that aggressiveness, I am also helping them see that their aggressiveness must be tempered with reality.
That thought of adjusting aggressive to make sure we meet reality is often a situation that, in the mind of many, is a conflicting statement. “I thought you wanted me to get out of debt” or “I thought our aggressive approach was to build an emergency fund” or my personal favorite, “I really should be building my investment account” are some of the statements I hear from clients who are now aggressive in tackling they step they are focused on.
In no way do I want to pour water on their fire, but I have to help people understand that regardless of your aggressiveness some things are going to happen and you have to be ready.
What are those things? Well, you probably have your own list but here are a few. With each one, you can save a small amount each month knowing the total amount is something that, if you do not have at the time needed, will likely have you scavenging or borrowing!
Vehicle Maintenance Expenses
With each one of these, everyone should be saving something each month anticipating what that known, or unknown, expense will be in the future.
Being aggressive in paying down debt is awesome. Paying it all off and not having the money to put the needed tires on your vehicle will likely require you to go right back into debt.
Be aggressive, but temper your aggressiveness ONLY enough to accrue or save for reality.