Trade The Journey

Trade The Journey

Weekly Progress: Short Reflections!

A little confused by the title? So am I. But as I continue to learn about the subtle art of word placement and expression, this title becomes apparent. Presenting your viewpoint to an audience with a short attention span can be challenging.

There are so many avenues available to you for information.

Especially for finance! If you don’t like or agree with what one site is saying you can quickly find another site. Nothing is required of you. We can switch quickly and eliminate the message if it doesn’t resonate with us.

But what if the message is what we need to hear? What if it requires work to understand? And consistency to apply? What if it just takes time for you to see the results?

Nowadays, everyone has a tip or a strategy that they believe can help turn you into a millionaire. Even me. I write these articles for myself and others. These posts are reflections based on what has worked for me and what has not. They are personal experiences shared through stories.

But as I write. What I hope to achieve are posts that contain learning lessons that will inspire critical thinking. Not just learning from what is evident about the situation. But really thinking about the situation could possibly be telling you about other conditions.

 

Thinking critically can help you maximize your effort and time. Thinking is an undervalued activity. It’s often mistaken by the clouds of thought forced upon us by the world.

 

This past week I decided to add an entrepreneur section to this blog site to help others. The trials and tribulations of starting a business will be documented in this section. I’d like to encourage each reader who is or may aspire to be an entrepreneur to contribute.

You’d be surprised at what others can learn from your experiences.

But back to the subject of finance and the dilemmas I encountered in the past week. This last week reminded me of the same danger involved in trading a sideways market. A sideways market is a market with no trending direction either up or down.

If you are not careful you could lose everything. It’s the times when nothing is happening when we should be the most careful. Watching your wallet during these times can be difficult.

 

Heres the situation: There’s no upcoming expenses this week and you’ve saved a little more than needed. The outlook is good and you are comfortable. What’s your next move?

It can be tempting to start splurging. Spending because you think you’ll have more coming in. Lured into the spell of complacency and relaxation.

Remain vigilant in the management of your finances. It’s hard to forecast an emergency and easy to miss an opportunity.

So guard your finances as if an emergency or opportunity is heading towards you at full speed. In these waters of calmness, I have chosen to prepare for what might lie ahead.

But what if you crack? And spend a little more than necessary? I did. I cracked big time this last week. It did discourage me at first, but I recovered by reminding myself that this is a marathon.

Plus the mistake allowed me to study the triggers that caused me to overspend. I found that my ego got in the way. “I can always recover; I’m good at saving.”

That might be true but who wants to keep proving that to themselves. So for this upcoming week, I hope I will not have to prove it to myself again.

Such is life.

Reflections:

In the calmness, prepare for the storm.

Don’t be lured to sleep by the repeating scenery. Saving and investing can be tedious and repetitive. Don’t be swayed by routine.

Grade: I’ll give myself an honest “B”. I gave myself a “B” because I made a conscious effort to curb my spending. Although I did splurge on one day, I did not let the overspending discourage me.

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