I had a conversation with my neighbor recently. And if I could paint you a picture for a minute, it's really funny.
As usual, when people talk to me they usually talk about how to get mortgage free, because that's what I'm famous for teaching people. But that's not what was funny, it's the picture I'm about to paint you.
Can you picture a cartoon or classic old movie where two neighbors are leaning on the fence between two paddocks, chewing on some dry grass, watching the cows doing the same while they discuss important world issues? Well, that is exactly what we were doing! Talk about funny! But I digress.
The location of the conversation was the point of this article, rather the content of the conversation.
My neighbor made a comment during this conversation that opened up eyes to the main reason why most people never, ever get to be mortgage free. Here's what he said: "Well, you may as well always have a mortgage while you are working."
I just grunted, chewed a bit more on my grass while I thought about the severity of what he had just said. And I don't make this next comment as a judgment, but an observation that I hope and pray speaks loudly into your psyche. "How stupid is the notion that you should never enjoy being mortgage free?"
My neighbor has completely missed an opportunity to take further advantage of the best years of his life. As a household with two incomes and no dependants he has the opportunity to make some real progress in investing into his future and the future of the generations that follow him. But he's not going to because he is paying interest to the bank to satisfy his short term desires.
There's a power of life changing principles we can unpack from that statement. Here are just three that I thought of:
- Satisfying your short term desires will cost you more than you realize.
- Paying interest to the bank limits your ability to serve your long term ambitions.
- Failure to look beyond your current thinking means you rob yourself of a more fulfilling future.
Please hear me when I say that I do not write these thoughts to judge anyone, for I do not have that right. But I write these thoughts firmly with the intention to challenge you on a mindset I find all too common with people who are not mortgage free.
If you still have a mortgage I have a question for you:
Do you believe that you will always have a mortgage?
If you answered this question in the positive then I urge you to begin the process of changing your mindset.
I bought my first house at age 24. But I never, ever considered the possibility of having a mortgage for the rest of my working life. I focused on how I could get mortgage free as soon as possible and I discovered five strategies that worked, so I used all five to smash my mortgage. I'm privileged to say that I had my house paid off by age 30, it took me less than 6 years.
You can start by telling yourself a different message, try speaking different thoughts into your subconscious to re-program your brain. Speak to yourself about how you can and will pay your mortgage off faster. Before you write me off as crazy, think about what I am saying. Isn't it true that what you focus on you achieve? Isn't it true that what you think about you attract?
To encourage you I'll share a brief comment that comes from an email I received today:
"Allan and have listened to most of it – it's good because it reminded me of what we haven't done since we went to one of your seminars when we were living in Hamilton. The main thing we are working on is' Getting control of our finances '- even through we've done reasonably well with some of the other steps and are pretty careful with spending, we've never really known what our in-and out-goings are. So, that's our current mission. We' ve set aside a morning each week to get organized and get on top of paperwork. "
Did you hear what this emailer said? She said that they had set aside a morning each week to get organized. That doesn't sound too painful does it? Surely you can find the time to do the same.
And when you do, you will create a mindset and a plan so that you can be mortgage free in this lifetime – this is not an unrealistic expectation and is one I encourage you to chase after.
You can be mortgage free. You deserve to be mortgage free. Help yourself.