Viron Lynch

A friend once asked a very interesting question…” Are you able to act when the next opportunity is presented?” The conversation was regarding the stock market and took place in February 2020. We all know what soon happened…

I believe one needs to be on solid ground financially to act confidently on an opportunity. To me this starts with being debt free. Debt creates so many problems and keeps us from acting when opportunities are presented. Debt adds pressure and stress to our lives. Think about what you could do if you had no debt and money in the bank.

In the past several years the economy has had some interesting twists and turns. There was the great recession and there was the pandemic. Both created large drops in the stock market. Both created financial opportunity for those positioned for it.

When will the next opportunity be presented? Will you be able to act?

It is all about perspective….Who’s perspective? Well, I suppose the person answering the questions. You see, everyone has a unique perspective on a subject. It is based on their experiences, wants and thoughts. No one perspective is correct. Here is an example of perspective on spending…

You go to the store and buy an item for $750 that normally costs $1000. One perspective is that you saved $250. Another perspective is that you spent $750. Both could be correct. Which perspective do you agree with? For me the only way to save money is to not spend it…My perspective is that you spent $750.

Again, it’s all about perspective.

If you think money is tight now, just wait.…It will likely be tighter in the future. Interest rates and inflation will most likely continue to increase over the next year or two. So, what can be done to relieve some of that stress that comes when funds are tight? Here are a few simple ideas that could help.

• Stop paying for apps on your phone. Live with the commercials.
• Stop paying for subscriptions and memberships.
• Use the public library and parks for entertainment.
• Reduce the number of streaming services.
• Stop paying for warranties or insurance on purchases.
• Eat at home. Have drinks at home. Watch movies at home.

These things won’t make you wealthy, but they might help reduce the financial stress just a bit. It is tough living paycheck to paycheck. And to change that, you will need to start doing things differently.

This past year I ran my first marathon. I did it in style…I ran the Disney world Dopey Challenge. For those who don’t know, the Dopey Challenge is a 5k on Thursday, 10k on Friday, half marathon (13.1 miles) on Saturday, and a marathon (26.2 miles) on Sunday.

Here is what I learned…

You are the only competitor…

As a recreational runner the only competition is your expectations of yourself. Don’t compare yourself with others. It is simply not important. What is important is that you completed what you set out to achieve.

Be happy with your effort…

Only you know how much you put into the effort. If you are happy with your effort that is what matters. Forget what others think. They don’t know what you put into your effort.

Keep moving forward…

You cannot complete the task if you do not keep moving forward. What is important is the direction not the speed. Sometimes we are slow, sometimes we are quick…Keep moving in the correct direction. That is what matters.

Life is a marathon…Education is a marathon…Marriage is a marathon….Living debt free is a marathon…

I liked this one. So I thought I would post it again…

It is finally time. Time to end a long-standing relationship. I have finally decided that the relationship has not been in my best interest. As a matter of fact, I think this relationship has been terrible. What relationship you ask? I am ending my relationship with FICO.

I have decided to let FICO go out of my life. I will no longer care about credit and credit scores. You see, I just don’t need to borrow money and pay large sums of interest to banks and lenders. I know that, like in all breakups, friends will be forced to choose sides and that’s okay. If you choose to remain friends with FICO, it will be okay. All I ask is that you don’t ask me to keep inviting FICO into my life.

I have come to the realization that if I cannot pay cash for an item, vacation, whatever; I simply don’t need it. I can wait until I have the cash to make the purchase. And I am okay with that idea. I only needed FICO to get credit so that I could improve my FICO score to get more credit. Which makes no sense. It has been a terribly one-sided relationship which resulted in negative consequences for me. There was no need to keep paying today for yesterday’s purchases. And I won’t do it. So, there it is, goodbye FICO. I wish you well and hope you have a good future somewhere else.

Now, I know this won’t be easy for me. I will need to change a lot of behaviors and possible develop new friends. But, in the long run I know it is the best decision and in my best interest. I have a few things which will linger in my life a keep FICO around and involved. Things like a car payment and a mortgage, which still need to be paid off. However, I will not let that keep me from moving forward into a better future without FICO.

It is finally time. Time to end a long-standing relationship. I have finally decided that the relationship has not been in my best interest. As a matter of fact, I think this relationship has been terrible. What relationship you ask? I am ending my relationship with FICO.

I have decided to let FICO go out of my life. I will no longer care about credit and credit scores. You see, I just don’t need to borrow money and pay large sums of interest to banks and lenders. I know that, like in all breakups, friends will be forced to choose sides and that’s okay. If you choose to remain friends with FICO, it will be okay. All I ask is that you don’t ask me to keep inviting FICO into my life.

I have come to the realization that if I cannot pay cash for an item, vacation, whatever; I simply don’t need it. I can wait until I have the cash to make the purchase. And I am okay with that idea. I only needed FICO to get credit so that I could improve my FICO score to get more credit. Which makes no sense. It has been a terribly one-sided relationship which resulted in negative consequences for me. There was no need to keep paying today for yesterday’s purchases. And I won’t do it. So, there it is, goodbye FICO. I wish you well and hope you have a good future somewhere else.

Now, I know this won’t be easy for me. I will need to change a lot of behaviors and possible develop new friends. But, in the long run I know it is the best decision and in my best interest. I have a few things which will linger in my life a keep FICO around and involved. Things like a car payment and a mortgage, which still need to be paid off. However, I will not let that keep me from moving forward into a better future without FICO.

Goodbye FICO it is time to part ways.

In people. People want to be successful and can achieve great things provided the opportunity, tools and training to do so.

In accountability. We accept responsibility for our actions and the consequences.

In diversity. We appreciate differences in cultures, backgrounds and experience. We treat everyone with respect and dignity at all times.

In trusting people to do the right things for the right reasons.

In being honest. Honesty and integrity are core principles which cannot be minimized.

In teamwork and collaboration. More can be accomplished when we work together than if we operate in isolation.

In education. Continuous learning is a cornerstone of improvement.

In providing extraordinary customer service.

Deficit spending is when your spending is greater than your income. It is easy to spot. If you are in a deficit or have debt, then you are deficit spending. Credit cards make it easy to start to start deficit spending. A small purchase here, another over there and before you know it…yep, you are in a hole.

 

The question is how to avoid deficit spending when everyone uses credit cards. And in today’s online environment where credit cards are almost required.

 

The answer is to use cash. when the cash is gone, you stop spending. Simple right? Not so easy when it comes to online shopping because you cannot just send cash in. you have to use a credit card…or do you?

 

For online shopping the solution to avoid deficit spending is prepaid gift cards with a fixed limit.  This is similar to cash. For example, If you take $100 cash to the store wouldn’t that be the same using $100 gift card at an online retailer?

 

Give it a try. Gift cards are easy to purchase.

In the decision making process, we often consider all the negative things that can happen and forget to consider the positive. We consider or place a higher emphasis on the ‘risk’ associated with the decision. With the risk comes anxiety. Anxiety is the feeling we experience when thinking about the negative side of the equation. An example of ‘risk’ and ‘anxiety’ is the feelings and emotions associated with public speaking. Many people just don’t like speaking in front of a crowd. I get it! It’s risky. What if they don’t like what you have to say? Or what is they make fun of you? Or what is they post it on social media? The list goes on and on.  So, many of us avoid taking the chance.

However, what would happen in your life if you focused on the positive side of the equation. By that I mean get excited about the opportunity. Excitement and anxiety have very similar physical traits; increased heart rate, sweating, nervousness, rapid breathing, etc. Learning to focus on the positive instead of the negative is very important and very difficult. Often the negative is easy because it helps to stop you from trying.

I have been in many situations where I was not willing to take the risk for fear of rejection or ridicule. It is difficult to overcome the fears. But, when I turn those thought to a positive and start looking at the potential opportunities for acceptance and praise. I have a completely different perspective. I become excited about the opportunity.

It really is about how you think that makes the difference. Be positive, believe in yourself and give something new a try today.

“Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.”
― Gandhi

 

There is only one thing which a person really has control of. That thing is that person. Yes, you as an individual control your thoughts, your words, your actions, your habits, your values, and your destiny. Everything else is beyond your individual control. This is true for everyone. Based on this, I believe that if a person wants to change any aspect of their life, then all they need to do is focus on what they control…

 

Change always begins with your thoughts. You cannot make any change in life without first thinking about it. But maybe a more important piece than thinking about a change is to BELIEVE that it is possible. Once you honestly believe that you can do something or that something will happen then that thing will become your focus and you will begin to put things in place to make it happen. It is very possible that it will happen on a subconscious level and you will do things without realizing you are doing them. Your thought will naturally become your actions.

 

It is really a very simple concept. You can achieve great things which can change your life forever and all it takes is believing that it can happen. When I think back on the events of my life I can see how my thoughts and beliefs created the outcomes; positive and negative. When you change the way you think, your life will begin to transform. Be ready. It might take some time. It could be a slow process. However, the stronger your belief the quicker things will begin to change.

I have been blessed many times with the virtue of patience. At times, I have been very slow to make decisions. When I have employed this strategy, the outcome has been more often than not positive. What I have realized is that it is good to let things come to me more organically when I allow it to happen.

I often think of the song, ‘Unanswered Prayers’ and how appropriate it is. When I think of all the things I really wanted, and all the things that ultimately turned out positive that were the opposite of what I had wanted, is truly amazing. If you wait and are patient and believe…Good things will happen. Maybe not what you wanted or in the way you wanted, but good things will happen. I cannot explain it, and I really don’t want to try. But, I know that at times the best things in life happen at the most unexpected time and in the most unexpected circumstances.

Stop praying or want something specific. It might not be in your best interest. Start seeking happiness. Your life will change, and you will ultimately receive the greatest gifts. I believe this is true and I am living a most wonderful experience that could have walked past me a year ago.

Ultimately, I think it is important to be patient and let things happen. Don’t try to force an outcome, but let it come to you. I am always amazed how things transpire when I allow things to happen.