Beans before Steak

The New Year is upon us and 'tis the season for resolutions that we have no chance of keeping!

While I won't bore you this year with my resolutions and goals, what I will say is that our entire nation...and most other nations need a hard dose of reality....maybe we can tie this into a New Year's resolution?

With consumer debts at an all time high, the "fiscal cliff" issues and entire nations hopelessly in debt...here is a quote written by Kevin O'Leary in his recent book "Men, Woman and Money".....

"Beans before steak"

Simple as that.  He speaks of an older gentleman in Winnipeg who immigrated in Canada in the 50s with nothing to his name.  Slowly, but surely he amassed a huge real estate portfolio of income properties by paying down the mortgages as fast as possible by saving as much money as possible.  In his own words he "ate nothing but beans for years".

How much truth is there to this story?  I don't know.  Can someone really survive on beans alone?  I don't know that either.

What I do know is that this quote can relate to everything in life.  Do you NEED that new car?  Do you NEED that new pair of shoes?  Do you NEED that new coat?....or do you WANT them?  If you save the money that you would have spent and invested it...will you be better off in the future?  The answer is probably yes.

Eat beans now so you can have your steak later.  Not only will you have much more steak to eat in the future, you will appreciate it that much more because of all the beans that got you to that point!