Do For Two Years...



Adam Carroll
Author, Financial Educator,
Business Owner


One of the pieces of advice I’m fond of giving is do for two years what most people won’t do, and you’ll be able to do for the rest of your life what most people can’t do. 

It sort of begs two questions:

        1.  What won’t most people do?

        2.  What can’t most people do?

Answering the first question takes a little more explanation than the second, so I’m going to take them out of order.  It doesn’t take much brainstorming to make a detailed list of the things that most people can’t do.

They can’t --

take extended vacations, take lots of time off, spend serious quality time without being distracted by money, work, the to-do list, etc., do everything they want in life while they’re still young enough to enjoy it, drive their dream vehicle, invest for the future, own their home outright, own vacation homes, get to visit vacation homes, start a business, financially help their neighbors, church, or family.  The list could go on and on...

The bottom line is that the majority of things that people can’t do are almost entirely related to their ability to pay for these “luxuries” without it seriously affecting their lifestyle.  However, by answering the first question -- “what won’t most people do?” we can uncover what it takes to make nearly all of the items on the above list possible.

So, what won’t most people do?

To put it simply, they won’t live on less.  Parkinsons Law states that our expenses will generally rise to meet income.  For most Americans, this is true.  If we made $50,000 last year and will make $60,000 this year, our expenses will somehow work their way up to the $60,000 mark (if not higher). 

Living on less requires working with a spending plan and sticking to it.  It requires one of those things that everyone struggles with -- delayed gratification.  I often tell people in my programs -- “you can have everything you want in life, you just can’t have it right now.”

People won’t drive a less-than brand new car when it makes little financial sense to finance a vehicle for 7 years that depreciates 30% when you drive it off the lot.

People won’t save first and spend last.  They do the exact opposite and then wonder why they have no money in the bank when they need it.

Listen, I’m a huge fan of living the lifestyle you were meant to live.  I believe it wholeheartedly.  That being said, I’m not a fan of living that lifestyle for a year and then being so completely upside down with your finances that everyday is a struggle.

Just think about what you’re willing to do for two years, and then knock it out.  You’ll be amazed what most people can’t do, all the while you’re doing it.

Other things you can do for two years:

1.  Live with a roommate (or multiple roommates) to save money on expenses to pay down debt. 

2.  Drive the same car you’ve been driving for the past several years.  Trust me, the new car smell smells all the sweeter when there’s no payments.

3.  Work a second job somewhere that’s fun and rewarding.  Use that money to payoff/paydown debt faster. 

4.  Make taking your lunch a habit and going out for lunch a treat.  OR, eat lunch at home everyday and spend your lunch hour imagining what it will be like to be completely debt free.

5.  No movie buying -- only renting from redbox or netflix.

6.  See if you can buy almost everything you need (outside of food and clothing) from Craigslist.  Slightly used!

7.  When you eat out, eat with a coupon -- You’ll easily save $15 with buy one get one offers.  Put that money towards your debt load.

The reason most recent graduates are broke from go is they are over leveraged on the debt side.  They borrow money at a break-neck speed for four years (or more) and then sit back and accept the fact that they have 10-15 years to pay them back.  Instead, be the person that “does for two years what no one else will do” and live the life you’ve imagined!