How Small Deposits Equal a Big Payout

How Small Deposits Equal a Big Payout

Make Deposits

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Now before you even start reading this article I already know what you are thinking. “Shelby is money all you ever think about?” Well to answer your question, no and this post has little to nothing to do with money. Instead, it’s about applying a basic concept that is most used in personal finance, making deposits, and translating it to other parts of your life.

That’s right, making deposits will make you become anything you want. Hear me out here, you can become smarter, healthier, richer, and beyond, it’s all within grasp just by making deposits. In the previous week’s articles, I have shown you how small deposits in your retirement account can turn into millions over a period of time. If you missed that series start here, it’s a must-read. Now I’d like to translate that same concept to the rest of your life. That’s right, today we’re talking more about personal development and not just personal finance.


Making Deposits

We all have goals right? These goals can be anything but there are two key traits you are going to need, no matter what, to reach your goals: patience and self-discipline. I truly believe having these are vital to one’s success. The problem is they seem so simple that we take them for granted and forget about them.

As a society, we have been trained to receive instant gratification. Don’t get me wrong, I love technology and how easy it has made my life. But there is a catch. We can stream a movie instantly on Netflix instead of taking thirty minutes to drive to a Blockbuster to pick up a movie. Ordering something online? Amazon will have it to your door in two days max, instead of waiting a week or more. I could write a whole article on how this is hurting us as a society but that’s for another time. The bottom line is we can do basically anything on our phone, except reach our most important goals. This is where the problem lies.

You want to lose weight, get an A in a class, and save $2,000 and you wanted to be done with it all yesterday. I seriously don’t think it’s your fault that you feel this way, I blame society. Saying that I do think it is your responsibility to be self-aware and realize that things are going to take work and a lot of time. This is what I mean by making deposits.

Every time you go to the gym it’s a deposit in your health. When you read a book it’s a deposit in your wisdom. There are endless examples. Just know that at their source, these deposits are no different than putting money into a retirement account. The more deposits you make, the closer you will get to your goal. The best part about it all? These deposits will become habits and soon you won’t even realize that you are making them.


Making a Withdrawal

A deposit is worth nothing if you never withdraw it though. Some people will get philosophical here and say the growth was in the journey, not the destination. While this may be somewhat true I also understand there is nothing sweeter than hitting a big goal. If you’ve ever hit a big goal you know the feeling.

When you do hit these milestones make sure you celebrate it! You set out to do something and you did it. What do you do next? Rinse and repeat. Figure out what you want your next goal or withdrawal to be and figure out the deposits necessary to get there.


Get Started

This article may seem oversimplified but think about the things you have said you were going to do in the past but didn’t. Why did you fail? I’m willing to bet it was a combination of things but the harsh reality is most of us, including myself, don’t make the deposits necessary to obtain that goal.

Down the road, I’ll teach you a tactic I’ve been using for a couple years to hit my goals or at least get close to them. It’s not the cookie cutter tactic of setting SMART goals or posting them on your fridge, 99% of the time these don’t work. Before we even get there though you must understand it’s all about patience and self-discipline.



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