Good Old Days? by Jim Stovall
I often hear people lamenting conditions in the world today and describing how idyllic life was during what they lovingly call “the good old days.” I would be the first to admit that we have to deal with challenges and obstacles here in the 21st century that our ancestors could not have imagined and certainly did not have to face. Nevertheless, these are the “great, new days.” We have more opportunities, more free time, more technology, more mobility, and more longevity than any human beings that have ever inhabited planet Earth.
In 1900, the average American family spent 76 percent of their household income just for the basic necessities of food, clothing, and shelter. Today, even though we have access to a greater variety of nutritious food year-round, have vastly larger wardrobes, and live in much bigger and more comfortable homes, we only spend, on average, 37 percent of our income on food, clothing, and shelter.
Throughout most of recorded history, human beings had to toil from daylight ’til dark just to keep themselves minimally fed, clothed, and sheltered. Success in life, along with wealth, brings us choices. Today, we can have virtually anything we want, but most of us can’t have everything we want. We have so many choices that it creates the sensation of confusion as opposed to options.
If you visit the cereal aisle in your local grocery store, you will be confronted with hundreds of choices. So much so that the vast majority of your options are not even considered. On the other hand, if you decide to order cereal from a restaurant menu and there are only three selections, you have a tendency to weigh each option and pick the one you consider to be most favorable.
If you will focus your financial resources in one specific area, you can make an amazing impact with the disposable income we all have. As an example, considering that the average family among us spends 37 percent of their resources on food, clothing, and shelter, if you decided to make some sacrifices, you could get that number down to approximately 25 percent, leaving 75 percent of your income available to impact your lifestyle. With that significant amount of flexible spending options, a young person could decide to retire in their 40s, or travel around the world each year, or buy their own airplane, or any other significant choice they may want to make in their life. Any of these are possible, but all of them are not.
Unfortunately, most of us unconsciously waste our significant disposable income on things we don’t even really want or need. There’s nothing wrong with any specific purchase as long as it’s not keeping us from something we want or need more than the item we are buying. Daily gourmet coffee or pizza deliveries added up over a lifetime can buy you a comfortable retirement, a college education, or many other financial goals you may have for your family.
As you go through your day today, work hard for your money, and make sure it works hard for you.
Today’s the day!
Jim Stovall is the president of Narrative Television Network as well as a published author of many books, including the Wisdom for Winners series. He is also a columnist and motivational speaker. Follow him on Twitter (@stovallauthor) or Facebook (@jimstovallauthor).