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Sure, it might be "better late than never", but if knowing that the inevitable move needs to be made, it is better to move earlier than before forced, rather than prolonging the pain and anxiety as the point of no return approaches. 


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With all the concern around the economy at the moment, it is the things like making cutbacks to spending and adding another source of income that come to mind here. As often, people wait until the eleventh hour to act, making what they do more painful and less impactful, whilst also reducing the chance of it being enough to actually make a difference. 

The other day, someone commented that they didn't want to get a second job, not because of the lack of need or the time it would take away from family, but more the effort - they just don't want to. And, I *completely get this* as no one wants to work themselves into the ground in order to pay the bills, but at some point, *it may be necessary* and the earlier that Band-Aid is ripped off, the faster the *time to value* will be realized. 

>It doesn't feel good.


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Being forced into doing anything is going to hurt, but making an active move toward improvement is going to feel better than seeing that line approach, knowing something needs to be done, but delaying pulling the trigger. 

Perhaps one of the reasons people do procrastinate on these things is because of the element of "loss" in cutting back or getting something like a second job, where cuts mean losing quality of life of some kind and getting a second job feels like failure, especially as it is often something below the skill and prestige level of a main job. Like it or not, the vast majority of us do care about what others think about us and we want to save face. Having our *professional colleagues* as well as strangers, seeing us stacking shelves at the local supermarket is a pretty big hit to the ego. 

>Is it worse than losing a house?

Some friends dropped in for a coffee tonight and were talking about one of their acquaintances who started building a house and while it is almost finished, they need to sell their current place to complete it. The problem is, their current place is not selling despite them reducing the ask down by almost twenty percent and now, they are approaching a point where they won't cover the mortgage on the sell, but still currently paying two mortgages on the old and new home. 

And, then they told of a couple other friends who have bought in recent years and didn't collar their loan at the record low interest rates, but still borrowed toward their maximum amount possible. This means that as rates increase, they are finding it hard to cover their mortgage under normal conditions, but as we know, these aren't "normal conditions" as we are accustomed to in recent years, as inflation is running rampant, housing prices are falling and the additional extremes of energy prices are also in play. 

And, there are also people who are forced to sell just because they can't afford to keep the heating on, especially after the land rates increased for many in the last two years on top of all that is going on. So, especially the more elderly and those who inherited a home with a mortgage they might not be able to fully afford, are making the decision to sell, instead of bleed out into the dying economic conditions. 

>It makes for grim discussion.

Yet it is is still an important discussion to have, because it can make us think about where we are and whether we are making similar errors or, not making the decisions we know we should, because we will have to make them down the track anyway. For my friend and I who are a bit older, than our wives, we are old enough to remember what the late eighties and early nineties looked like, even though still quite young at the time. Our wives who are only a few years our junior, were too young to remember directly what their parents would talk about at the dining table. 

>It seems to be have created a difference in our financial attitudes. 

While the economy isn't interesting, like it or not, it affects us all and learning about it is essentially imperative to our personal wellbeing, especially if we don't want to become dependent on others to provide for us. This means taking an interest *in the uninteresting* which again feels like a loss of time and energy that could be going into more fun activities. Avoiding the process reduces the ability to move early, because the experience and pattern recognition to see what is coming isn't there, which means inevitably, moving too late.

Moving late means losing options and having more doors closed, with those that are open having less effect on improving our conditions. Early moves (in the right direction) have a compounding effect and if we are able to make enough of an impact, when we would have otherwise been getting forced to make cuts, we will actually have options available to take advantage of conditions and make gains. But as easy as this sounds, making the "right move" is easier said than done, especially when there is so much volatility and variability in the options. 

I have my own opinions on this and through my personal experience, I generally feel it is better to take the hit early so the get up and dust off can happen sooner, than wait until the hit might be a knockout blow. It is never nice planning for that punch in the face though. But, taking that punch to the ego, can mean being able to avoid the punch that drops us to our knees, by becoming faster and more mobile on our feet.



Taraz
[ Gen1: Hive ]


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