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Financial Perseverance: Lacking Nearly Everywhere

3 September 2010 One Comment

Perseverance.  What is it?  One definition is steady persistence in a course of action, a purpose, a state, especially in spite of difficulties, obstacles or discouragement.


I think we can all agree that many, many people are facing difficult circumstances due to a variety of situations such as the economy.  Unemployment is terribly high, people are facing foreclosures and bankruptcies, young people are facing a void of good jobs while being crushed by high debt levels.

So, are we persevering through this hard time?  No.  We’re really not.

The reality is that we’ve all been conditioned to not persevere.  We’re constantly told that things aren’t our fault.  I love the line “through no fault of their own.” Politicians always tell stories of someone who got laid off through no fault of his own.  And while this might be true in many cases, does being told this really help anything?  Does it help Joe Blow get another job?  No it doesn’t.

We’re told we’re losing our homes because some mortgage broker tricked us into a predatory loan.  We’re told we’re unemployed because of the previous administration.  We’re low on cash because that darn high-end sushi restaurant is charging me too much for my three times a week sushi!

Perseverance is Hard

Don’t get me wrong, persevering through tough situations isn’t easy.  Sometimes, it’s easier to just buckle and give in.  It’s time to do the hard thing.  There’s a great website out there that is encouraging young men and women to “do hard things”.  The website is The Rebelution.  A great cause!

What hard things are you avoiding in your life?

Maybe you’re putting off building up your hobby into a side income because it’s, well, hard.  Maybe you’re putting off getting control of your finances because it’s easier to just mail in that minimum payment to a credit card company every month.

It’s tough to get out of a mountain of debt.  It requires hard work and sacrifice.  It requires perseverance.

Another Example

One thing I’ve been studying recently is the Biblical concept of perseverance – if you’re curious, research the ‘P’ in TULIP.  Often called “perseverance of the saints” – it’s not something that is talked about much in churches or in Christianity.  It essentially refers to the fact that Christians will persevere (not fall away) until the end and that God will keep one of his own until the end – that person will not be lost.

Interestingly, the teaching of perseverance is pretty much dead in most churches as well.  Why?  Well, again, I think it gets back to our culture.  We don’t like the idea of having to persevere.  We want to be told that our ticket is punched, that we’re good to go, that we have nothing to worry about, nothing to be concerned about.  It allows us to be indifferent, flippant, easy-going.

Financial Perseverance

Perseverance is hard.  To improve your financial situation, you must stay consistent and determined through tough times – like the times we’re all facing now.  It’s not easy to increase your income.  There really isn’t much opportunity in the work place for most people meaning it’s tough to get a raise and tough to increase our income.

How can you persevere with your income?  Keep searching for opportunity.  Keep talking with your boss how you might expand your responsibility.  Obviously, I love to talk about side income streams.  Quit putting it off and get back to it.  Start working on the side and building up other income streams.

If you’re frustrated with debt, get determined and get out of it.  Then, don’t go back.  Get out of debt forever.

What areas do you need to be encouraged to persevere in?

One Comment »

  • Debt Helper said:

    I'm currently tracking all of my families spending for the month to see where all of my money is being spent.