What Rate Are You Paying

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When I was younger and bought my first car, I chose the plan that gave me the lowest monthly payment. I walked away feeling proud of myself for securing such a great deal, but as the years passed and the wisdom that comes from working hard for my money set in, I realized that cheaper things often have hidden costs. For instance, perhaps the workmanship isn’t as good, so things wear out faster and have to be replaced more often. In the case of the car I bought, it had a higher interest rate that was hidden in the number of years I would need to repay the loan before the car would finally be mine, free and clear. The thing I thought was saving me money was actually costing me more, necessitating me to work a little harder and longer to achieve my long- term goals.

What rate are you paying in your life? Do you choose cheap things that may fill you up but have no real nutrients to sustain your long term needs and goals? Do you have to work harder to maintain what you have and get where you’re going because those bargains you thought you found are costing you more on the back end? I’m not only talking about the foods you choose to eat, by the way. I’m saying we need to stop trusting our greatest treasures to fads, snake oils, get-rich-quick schemes, buy-one-get-one free deals, lose-45-pounds-in-10–days promises, etc. Need I say more?

I’m certain that if you added up what you have really paid for some of your decisions, you might find that the results weren’t worth it. Going forward, may you have the courage to look at your bottom line and be honest with yourself about what you can and cannot afford, no matter how “too good to be true” it looks.