FOMO – Fear of Missing Out. YOLO – You only live once. These are the catchphrases that encapsulate our relentless demand for instant gratification. We want what we want when we want it…ideally sooner. And let’s face facts – it feels really great to have our desires satisfied. Who doesn’t like immediate gratification?

This week, I read something rather thought-provoking, an article about lifespans. The article focused on how our relationships with those most important to us are finite, no matter what we do. Every minutes you’re alive is leading towards the end, whether yours or that of someone you hold near and dear. The article challenges the reader to strive to allocate their time to those relationships and activities that are the priorities. This led me to think about how I spend my own time and whether my time is spent on my priorities.

I understand the twin phenomena of FOMO and YOLO – I really and truly do! No one wants to be left out of fantastic experiences – time with friends, exploring a new place, trying a new restaurant, being one of the Cool Kids Who Do Cool Things. These can be the stuff from which great memories are made. I totally get it.

Yet, I want you to ask yourself if all of those fantastic experiences reflect the priorities that are most important to you. Did you do them because you really wanted to or because you were experiencing FOMO and/or YOLO?

Looking back now, do your past choices still make you happy? Do you wish that you’d put your energy and efforts into something else?

What’s Done is Done!

No one can undo the past. Once spent, time is gone forever. This is why time is way, way, way more precious than money. Money is replaceable but time is finite.

I’m not trying to get you to regret anything that you’ve done up until this point. What I am trying to do is make you think about what it is that you want for your future. Once you’ve nailed that down, you can marshal your resources, focus your attention, and take the necessary steps to get what you want.

Are you trying to save for a house? Maybe you want to finish your degree one day? Is a self-funded sabbatical something that you really, really want? Do you want to start your own business?

Sometimes, priorities cannot be satisfied immediately. Long-term goals, by their very definition, are going to take some time. They will be no less pleasurable due to the time it takes to acquire them. From what I’ve observed, people who achieve what their hearts truly desire rarely ever regret saying no to early options for their time and money.

Hear me now! I am not suggesting that you say no to every invitation. That’s not a good way to live, nor will it improve or sustain the relationships that are most important to you. What I am proposing is that you clearly identify the priorities for your life and that you learn to balance them with all of the other options that are presented to you.

From this moment forward, strive to spend your time and money in ways that move you closer to the life you truly want.

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Weekly Tip: Pay your taxes on time. There’s no sense in borrowing trouble.