I don’t know when I first heard “Pay me now or pay me later”, but it seems like something that’s been stashed away in my memory since childhood. Unfortunately, I never gave it much attention until recently… and I’ve had to painfully pay a lot of people “later” over the years. Maybe because I was raised to be frugal and didn’t embrace an attitude of abundance until my mid-thirties; maybe it’s because I have some disposable income now; or maybe it’s because last year my sister paid the ultimate price “later” … when it was too late. I don’t know why, but lately I’ve really bought into the concept of investing now to reap rewards later, and it feels so overwhelmingly right that I wanted to share my newest philosophy of living. Below are several examples of what I’ve done recently, and the logical justification to doing so.
- I invest in a concierge doctor. It costs $2,700 per year and I hardly ever use the 24-7 accessibility. So, why do I do it? Once a year, I receive an intense health assessment with a deep analysis of my blood work that helps predict numerous types of potential health issues. My logical justification? Over the next forty years, I’ll save a whole lot more than $108k because of this proactive program. Out-of-pocket expenses, lost income, and other opportunity costs associated with health will be minimized because I’ll be as ahead of the game as possible. Pay me now or pay me later.
- We pay $100 for oil changes at the dealer. I know, I know … it’s like $19 at the local lube shop. So, why do I do it? Emotionally, I feel much better about bringing one of our largest investments to the dealership every six months. My logical justification? If I get just a couple months more out of my vehicle, then the extra oil-change expenses pay for themselves. Pay me now or pay me later.
- I invest three hours per week to writing. Wow, what I could do with those three hours! If I took my hourly value to my company and multiplied it by three, I’m paying a lot to write down my thoughts. Why do I do it? I buy into our core philosophy that we must be known as subject matter experts to succeed today. My logical justification? Much of Vector Firm’s monetary success sits atop a reputation of being the subject matter experts in modern-day sales and marketing for system integration companies. If I stop, our reputation will fade away and so will the dollars. Pay me now or pay me later.
- I’m extremely diligent about maintaining a normal life. If I traveled more, didn’t spend Friday afternoons with my six-year-old daughter, took my wife for granted, didn’t wake up before 5:00 am to work out, or skipped the fun hobbies that I enjoy, I’d easily be making triple my current income. So, why don’t I focus solely on my business and bring in the really big bucks? Because I’m 49 years-old – I’ve been around the block once or twice and know how this story ends. My logical justification? If I get out of balance, my production will suffer, and my business would crash. Pay me now or pay me later.
I have more examples, but I think you get the idea. Think about the things in your life and your work. What can you do that seems expensive or time-consuming today, but may help you avoid future problems and capture opportunities? Is there a training class that’ll stretch your budget? Think about the extra satisfaction from your work and the increase in income that would ultimately pay for that class. How about the time and effort it takes to perform outbound calls? How much more could you earn by winning five new customers this year?
When you know you’re onto something, but you feel hesitant to act because of the cost, simply repeat this simple phrase in your head: “Pay me now or pay me later”. Paying now is usually the better choice!
