I’ll be sharing my thoughts on if paying your mortgage or rent should be done with confidence or anxiety.
Should Paying Your Mortgage Or Rent Be Done With Confidence Or Anxiety?
It should be done with confidence AND caution. There’s a few things that‘s best to keep in mind when deciding to manage this task:
- Short to Long Term Goals
- Putting your situation in perspective
- Eventually owning should be what you want
Taking action with confidence AND caution
Generally speaking it’s best to do anything with confidence, but that has to be earned. That’s what makes the difference between confidence and arrogant cockiness.
Ultimately moving with confidence and caution provides are bold balance. You’re firm in your decision, yet you’re also showing a fair amount of respect for whatever possibilities could happen.
The way to move with confidence and caution however is to have proactive steps. So you’re gonna have to be somewhat organized in order to feel good about whatever action you’re taking.
There’s a methodical and calculated approach you have to take to satisfy both requirements. You have to get better at planning strategically.
Being conscious of your short to long term goals
Being conscious of your short term and long term goals is important (especially when paying your mortgage or rent) because you might have them change at any point.
If they were to change, that’s massive! It could make a difference in whether you’re gonna continue to stay at the place you’re at.
Typically speaking, most people choose to rent if they’re only thinking short term. And obviously it’s reversed if they’re thinking about home ownership.
The best way to go about being in tune more often with your goals in this regard is following a S.M.A.R.T. goal framework checklist.
It’s something I first learned in grade school and it holds up to this day. The acronym stands for:
– S—Specific
– M—Measurable
– A—Achievable
– R—Relevant
– T—Time-Bound
What this does is keep stats on the board with your daily operations. You’re not lost with your progress this way.
A place of living isn’t your need all be all arguably, but employing this tactic helps bring your means to an end, with confidence.
Putting your situation in perspective
Putting your situation in perspective when applied to whether you feel confident or anxious with paying your mortgage or rent is helpful.
It’s not necessarily an absolute must, but what it does is expand your depth of vision.
This actually should provide some peace because you’re aware of why you should be grateful and if anxious it’s with eagerness to prove to yourself that you’re able to handle responsibilities.
It’s not a guarantee that everybody is able to handle such a responsibility in paying their lease agreement.
It might seem a bit condescending, but you’re evaluating where you’re at in life in comparison to others.
The cold harsh truth is that there are people you’re doing better than in life. I was homeless at one point. That should say something.
The perspective you could look at is that you’re evaluating a challenge. In this case it’s paying with a cheerful attitude.
Maybe it helps to think now that you’re guaranteed another month to have a place to live at.
Being an Owner Should Be The Goal Eventually
Did you know that homeownership is one of the most universal methods to accumulate wealth without a specific skill in mind?
It’s also one of the first opportunities the general public got to practice to gain experience in doing business.
It should be a goal to own your place at some point because there’s so many reasons that point to it making sense:
– it’s your property to be utilized how you want
– it’s a potential money maker
That’s just to name a couple obviously.
If not anything else, it really doesn’t hurt to keep having your home turn into an asset a possibility.