January 31, 2011 at 6:18 pm, by Carl

Conscious Spending in Action.

Well, if you’ve wondered about whether you really could cut the cable/satellite connection, here’s a take from my friend JD Roth.

Kim and I have been thinking about it and looking at various plans, but I just can’t seem to take that step relative to giving up sports.  Still, as we consider our financial situation, always looking ahead to purchases that need to be made, this is a big target.

Oh, and check out the last part of the article–JD has a killer point about saving.  He writes “This weekend, we hired a friend’s 12-year-old to help with yardwork. As we cut blackberry canes and pruned arborvitae hedges, Ian explained that he’s saving his money. He wants to buy a remote-control car, but his dad persuaded him to hold on to his cash until he’s sixteen, at which time he can buy a motorcycle.

Ian really wants the R/C car, but he wants the motorcycle more, so he’s being patient. He’s willing to wait four years to save for his goal. That, my friends, is conscious spending in action.

Later in the day, I talked to another boy who wants an iPod — but he’s not willing to save for it. He’d rather spend his money today on videogames and bubblegum. When I tried to talk to him about it, he didn’t see any connection between the fifty cents he spent on a pizza-parlor videogame and the iPod he wants so badly.”

What about you–can you see the long term goal and then take daily steps to ensure you get there?  Or, are you trapped by immediate needs so much that you fail on the long term goal?