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Trait #2 of Financially Successful People

Listen to Adam Funk, the Savings Coach, interviewed on Mi Real Talk aired on June 15, 2014

It’s not what you make, but what you keep that counts! Making more and buying a bigger boat doesn’t build future success. There are identifiable traits to the financially successful.

Trait #2 of Financially Successful People:  LIMITS

Limit yourself to build a future. You don’t like limits you say? Consider the limits yet to come, as you mortgage your future with unbridled spending now! Limits today, for a future tomorrow make a bit more sense now, right?

Just because the bank says you have a $1,000 limit on your credit card doesn’t mean you shouldn’t limit yourself to 25% of that. There’s an old saying in the ethics class I teach, “just because you can doesn’t mean you should.”

Consider the gas tank of your car. E to F on the gauge, right? Do you flirt with E all the time? Consider filling up at half a tank and fill it to full. Save yourself the aggravation of even stressing over how low it can get. Even better, set a similar limit on your checking account. Don’t flirt with being overdrawn. Let $100 be your E.

Budgets are just a collection of limits that are designed to help you live the life you want to live. You know, the one that includes a bright future. Life is about doing everything you have to do so you get to do some of what you want to do. Pay your future first and limit yourself in the here and now. You’ll be glad you did. Financially successful people know what I’m talking about. That’s Michigan Real Talk!

Michigan Real Talk blog is written by Paul Curtis. Paul is the broker of Red Door Realty in Royal Oak, Michigan and host of Michigan Real Talk Radio heard Sundays at Noon on 92.7FM/1400AM WDTK. Like Michigan Real Talk Facebook page for more helpful information so you can #OwnYourDream.

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