“You have planted much but harvest little. You eat but are not satisfied. You drink but are still thirsty. You put on clothes but cannot keep warm. Your wages disappear as though you were putting them in pockets filled with holes!” (Haggai 1:6 NLT)
Money holes drain our resources without bringing much long-term satisfaction. Certain kinds of habits, purchases, ideas, commitments, and relationships can bleed us dry. Some holes are imperceptible. They drain us slowly. Others are obvious gaping pits that are difficult to climb out of. Here are a few BIG money holes that I have either observed or personally experienced:
Debt
A bigger house
Living in an affluent neighborhood
Timeshares
Second homes
Boats
Addictions and obsessions
A taste for high-end merchandise
Investments that are not thoroughly understood
Multi-Level Marketing--Avon, Tupperware, Herbalife, etc.
Get-Rich-Quick seminars
Whole life insurance
Commission-based financial advisors
Expensive vacations
Being a foodie or wine aficionado
Some people have made their beds in money holes. Even hanging around with these people can prod you into a pit. On the other hand, those who are transparent about their mistakes can help you avoid them.
“A wise man learns by the experience of others. An ordinary man learns by his own experience. A fool learns by nobody’s experience.” (Anonymous)
Exactly. If you want to be a millionaire then ask the millionaire how he made his million, not the one drowning their sorrows in another get-rich quick scheme.
ReplyDeleteIf you want optimal health then ask the person living a healthy life how they created this life, not the one complaining about how terrible they feel or how fat they feel.
Document your mistakes and or failures in life as a learning tool, not a reason to chastise yourself.