Wouldn’t it be good if we could pre-empt a failure in our goals, dreams or to-do’s? I mean, imagine the power of recognising that one second in your life that coudl potentially steer you right away from your end result? Sounds mystical, but it’s not. It’s actually quite simple, but profoundly powerful and could mean the difference of you achieving the financial goal of your dreams, the body and health you need in life, the tidy house your crave, whatever…

I remember a story once of a guy that was really dedicated to training in the gym, in fact he was so dedicated it would not be uncommon for him to be in the gym up to 6 times a week. It was the real deal. He spoke to me once and recalled how he failed in achieving his ultimate body. There was a defining moment that you might have experienced yourself maybe? As with everyone sometimes in life things pop up and can get a bit crazy; you come down with the flu and it throws you out, you have some financial troubles that takes your focus away from day-to-day life… whatever it is… Anyway, this guy told me that a day came up when he was just a bit more tired than usual and just having “one of those days”. He said the following… “I’ll give the gym a miss just for today but will make up for it tomorrow”.

The road to someday leads to a town called nowhere.

What do you think happened? Tomorrow showed up but this guy didn’t. And his dream stayed in yesterday.

That one moment, that one decision – it changed everything. Had he have just gone and even did a quick workout, a simple target full body one with a few exercises, to keep the momentum, he might just be in a different place right now.

Ivan, how do I be motivated enough at that moment to make the right decision?

Review your why. And if you’re not clear about it, then get clear here.

Now, here is the topping on the cake…

To make this point all that much clearer… let’s say you decided to save $50 a month, each month and dropped it into a simple savings account (fee’s not included for this argument) returning you 5% p.a. across a 10 year period. When you make the decision you start with a $50 deposit in the account. Great. Let’s say the day before you make your first monthly $50 deposit you get an offer in the mail for cable TV that’s offering only $50 a month for the first 12 months and you decide it’s a great offer and you put off saving that $50 into your account instead for the first year so you can have cable TV. How much did that decision just cost you?

$50 x 12 = $600 for the cost of the cable TV.

How much compounded growth from interest are you loosing at the end of the 10 year investment?

$966! That means cable is actually costing you $336 more!

To put this into a bigger perspective. Let’s say this is a long term, retirement savings account, how about 50 years?

$7108! That means your decision to take cable TV over your goal is costing you $6508 more!

How does this look visually?

49yrs
The result if you delayed a year of saving.
The result if you didn't give in to making the wrong decision...
The result if you didn’t give in to making the wrong decision.

Can you see what happens in your moments of decisions?

What decision are you about to make today that you should reconsider? How important is that dream to you?

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Calculators and graphs used for this post complements of ASIC’s Money Smart with complementary calculations from Math.com

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Disclaimer: The information presented above is intended for information purposes only. Before making any financial decisions it is recommended you seek the advice of an accredited financial representative within your country.

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