Over the last couple of weeks, we have been looking at lies that “THEY” tell us. Today, we are going to look at lies that we tell ourselves. These can be just as dangerous, just as insidious and just as derailing to your financial future.

I was recently asked to speak to a group of entrepreneurs and asked them, “How many are committed to changing their financial futures?” Of course all of them raised their hands. I then asked, “How many have a weekly, monthly, or yearly savings commitment?” The answer was less than 20%. I believe the big reason for this discrepancy is that people lie to themselves. I believe that walking into that room they truly believed that they were committed. Obviously, it is difficult (if not impossible) to improve your financial situation if you don’t have a daily, weekly or monthly discipline.

Another lie is “I’m doing the best that I can.” To me, this is a bigger and more insidious one. I see and talk to people every day that have convinced themselves of this “truth.” Fast-forward one year or one decade and these people will be the statistics that we read about. The “median retirement savings of families between 56 and 61 is $17,000,” according to EPI analysis of Survey of Consumer Finance data, 2013. I would venture a guess that these families all believed that they were “doing the best that they could.”

There are no do-overs or mulligans in life. You need a real plan. If you want some help, please let us know.

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