Investing isn’t rocket science, but it does take careful planning and diligence to accomplish what you have set out to do. You should write out exactly what your goals are and be very specific (use SMART goals). Look at them daily, get accountability, and don’t get frustrated when you have setbacks.
A few years after purchasing our home, Nate came to me one day and said “I think we should pay off our house in the next 3-4 years!” My response, “WHAT? HOW CAN WE DO THAT?” Our mortgage was roughly $960 a month and we still had well over $120k left on the note. I thought he was crazy!
We sat down and he showed me on paper how setting aside an extra $4000 a month and putting that towards the principle would give us the ability to pay off our house 7-8x faster than the traditional method of paying the minimum payments (which early on in a conventional loan have a TON of interest on the frontend and you’re paying little principle).
At the time, I was working in sales for a tech company and making good money with commissions. We didn’t have kids yet and were able to really live BELOW our means. We decided to live off one of our salaries and use the other to pay down our house. We accomplished that goal and had our house paid off by the time I was 30! It was an incredible feeling to have absolutely NO debt!
You may not be in a position to do something like this, but maybe it’s starting with something smaller like setting aside $100-200 a month to invest. Creating habits in your life will pay dividends! These aren’t just financial habits, but physical / emotional / spiritual / relational habits. We’re firm believers in whole-life health and making wise decisions across every area!
