Have a target, get it done
What happens when the plan of attack is, ‘attack’. I talked about it some days earlier, how being in debt can be a big distraction. I know we have two types of debts; good debts and bad debts. One is a debt of pleasure or of no return on investment while the other is for growth. Yes, every smart person will always say, don't get involved in a loan that is not business minded.
A good one indeed, there are not many arguments here, first thing to note is that loans come with extra charges. That is why many are being yoked to a burden of large debts. The idea was borrowing, repaying and borrowing more. Every relending is an upgrade of your deficit numbers.
Make sure you don't let numbers catch up with you when it seems too late. Ok, we ALL have our experiences. Talking of experiences, my quick throw in here is; ‘pay close attention to what you may call a good debt’. Most of it are actually bad debts and until you recognize this and make a fast U-turn, the latter road is galloping. This is why I have decided to rearrange a lot of things before this year summarizes. It has been with ups and downs and yes, some mistaken moves that need urgent correction.
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I am not saying the entire year has been bad. Very far from that, I have seen a huge form of self growth and in short, it is this self growth that has given me this U-turn idea. It all boils back to thinking long term and this mentality has caused me to trim so many excesses. One of them has been getting into bad debts that were assumed to be good. Holding a good position will always require capital. Nevertheless, not all capital are actually capital.
One of my pursuits before this month summarize is to do away with all the distractive debts. It is affecting my long term investment goals. Just one mindset shift can show you many errors. I have to admit, my current strategy is bringing nothing more than a loss to my portfolio. I did data summary for the past two months and the Red flag is everywhere.
So what's the best move?, a U-turn. Not an enjoyable one but I have to admit, investment to me is no more a gamble; I need certainties. I have set my target for this month; ‘operation clear distracting debts’ and I am working towards getting this done. It means I will be having some portfolio slow motions. It is not always a fun one seeing that. I guess I will have to look off and take what needs to be off.
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It doesn't matter if it will even have to cross over to next month. Although I would wish my cash inflow expectations meets up to clear everything this month. The idea is, all I want to be indebted to is growing my portfolio rather than think of how to pay back a short term loan while trying to maintain a long term portfolio.
It is more like paying my future gains out currently to my debtors. Let's get back to the basis; get things slow and steady while making sure success is seen all the way.
To conclude, let me add, the world of business, investment and financial growth can be very tactical. One of its primary phases is understanding numbers and also learning the essence of financial patience. Nevertheless, it is very difficult to exercise patience during debt pressure moments. markets are full of uncertainties and one month of flank to flank price swing can turn profit to loss if your current situation isn't able to HODL.
A switch in investment strategy has been activated from my side. If I am actually going to reap long term rewards then anything that entertains short term behaviors must be trimmed. Doing what is right is never a waste of time although it will always feel inconvenient for the moment. Steadily! Steadily!! The race will be won.
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