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Larry Winget Says: You’re Broke Because You Want To Be

How Totally True… If you are offended by the title because I do not know you at all… Sad to know is that, this is really the case happening in the world – You’re Broke Today Because You Want To Be!

This view was evident after a small chat with a Client and reading a book by Larry Winget: You’re Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead

My Chat With A “Poor” Client

The CPF Board has recently raised the premiums for the Medishield Plan (a medical insurance plan) and the raised premiums also mean that the benefits have also increased.

The Premium for the Medishield Plan is basically very low and affordable for every (almost) Singaporeans but very sad to say is that this Client is unable to afford it…

As we chat on… tears were on the edge of her eyes… and she was also saying that she still owed her tv license fees, utilites bill and phone bills for the last 2 months. She would rather forgo this medical coverage and suffer at home (if she is down with any major illnesses) than rather not to be able to service the rest of the bills.

She was there… asking me for some advice… But a brief description of this Client is that she does not really look that poor as she was having some gold jewelleries and jade on (still… I am not in a position to assess her financial status). I suggested asking her family to help (she is alone and not married), asking her to seek some financial help with the government (she has her pride and will not do so) and I was really in a loss at that moment!!

All I can say is that both her bills and having some medical insurance are important and that these two areas must be looked in as soon as possible.

Then I ask her whether has she done any financial planning (setting aside some savings, buying some insurance) before in her life? She answered no. And she further replied that she has never considered this area before in her life because she feels that it’s not important. Whatever she has earned in her life is already spent. Not a single penny in her bank account.

My deepfelt sympathy for her… And I wished all the best for her!

My First Two Advices From Larry Winget’s You’re Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead

I managed to get hold of this book today and after reading the first chapters, I felt totally agreeable with the book title and the first two advices that Larry Winget shared.

First Advice: The Real Secret! What you think about, talk about, and get off your a** and do something about comes about.

This advice totally shake myself off and set me thinking.

Many a times, you and I do want to do something good for ourselves and we set goals like to lose weight, to start a savings program, to buy some life insurance and etc.

But what did we actually do? You and I (I am guilty for this as well) still continue to go for those high fat content “diet” or those money meant to be set aside for our savings plan and life insurance – are the money in the form of a new pair of shoes or a new tech gadget, and we just assure ourselves that we’ll start our planning soon!

What you can learn from this first advice is that, if you do know something that’s really important to you, you should get it down with action and make sure it’s completed before any other issues. Plain thinking and talking about it will not get things done.

Second Advice: You will never change until you first become uncomfortable

Just think about this, we are very comfortable with everything in our lives. Putting the losing weight as a classic example, we may be “overweight” today because we enjoy those high Carbo meals and those nice taste that come with it… We are comfortable with these meals.

If we do want to lose weight today, you and I have to put in actions like eating more vegetables (they just taste so plain, but we do know that it’s good for helping us to lose weight) or doing more exercises (which is more comfortable – lying on your bed or sweating out there? I will definitely choose the bed!).

It’s the same for your Savings, Medical Insurance and Life Protection Plan as well. Putting aside some money for this planning in a long term or to go for better food or those new pair of shoes that’s having a mega sales or the latest gadgets in a short term – which is more comfortable?

As you can see, all good things that need to happen comes with a price and this price is called Uncomfortable. And you can never change for the better until you have first become uncomfortable!

In Conclusion

Follow this two advices closely! If you are keen to know how to start getting ahead with your life and not to suffer when you are old, you should consider getting your hands on Larry Winget’s You’re Broke Because You Want to Be: How to Stop Getting By and Start Getting Ahead

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