Dear Money Lady readers,
I have been asked many times to reprint a column that was originally published three years ago. For those who missed it the first time around, here it is again: an adult’s lesson from a children’s book.
I recently went to a friend’s home and had the pleasure of reading a book to her four-year-old granddaughter. I had forgotten how wise these children’s books are — with a message in the story for all of us.
The book was called “Days with Frog and Toad,” written by Arnold Lobel. The story starts with Toad waking up one morning and complaining about his messy house and how many jobs he had to do. He exclaims to Frog that he is going back to bed and will do it all tomorrow, saying, “Today, I will take life easy.”
How many of us procrastinate about everything we do in our lives today? I’m not talking just household chores, but things like furthering our career, going back to school, asking for that raise or promotion — or what about just saving for your retirement and lowering your debt?
Life can be tough, especially now in this economic environment. But the problem lies with putting things off more and more when the tomorrow you were waiting for has come and gone so many times. If you keep putting it off, chances are it’s never going to happen, and the only one you will have to blame is yourself.
If you don’t save for retirement, you will have no money to retire on. If you don’t work at paying off your debt and your mortgage, you will always have debt and the banks and credit card companies will continue to make money off you. If you keep wishing and dreaming about being successful, but take no action or plan to do so, you will always have less than you think you deserve.
Throughout the book’s story, Toad realizes that he will have an enormous amount of work to do by procrastinating and putting everything off until tomorrow so he decides to do one job, then another, then another, until he has completed everything he would have been burdened with the next day.
“There,” said Toad. “Now I feel better. I am not in the dumps anymore.”
“Why?” asked Frog.
“Because I have done all that work,” said Toad. “Now I can save tomorrow for something that I really want to do.”
“What is that?” asked Frog.
“Now, I can just take life easy,” said Toad and he went back to bed.
What if you did this too — tackling one task at a time?
You will never climb the mountain until you take the first step.
Let’s take balancing your budget to live completely on your take-home income, for example.
Get a journal, log every purchase and expense, and find out where your money is going. Once that is done, create a monthly budget that you can live with while looking for ways to lower expenses to pay off your debt.
Better still, why not think of ways you can make more money to improve your finances. Should you get a different job? Could you downsize to a more “livable” situation?
At the outset, it may feel like a slow-moving train struggling to get out of the station. But the more you accomplish, the more you improve, the faster the train moves toward your goals and future financial freedom.
If you are finding things difficult, but are inclined to put off the solution to fix it, seek professional advice. You can’t know everything. Talk to an accountant, financial planner or even a social worker.
If you are not planning and thinking about the future, how can you expect to have one? Don’t let the worry about money or your to-do list have a toxic effect on the rest of your life. Believe you are worth more and pull away from other procrastinators.
The confidence and security of knowing you will be OK at retirement or should an unforeseen tragedy happen is invaluable. It provides you with the power to deal with current life issues. You will be happier, more confident, and more prepared to be successful in all aspects of your life and career. And of course, then you follow in Toad’s footsteps and “take life easy.”
Good luck and best wishes,
Money Lady
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