Why You Should Focus On Your “GAP”

In my last article I challenged you to an exercise that required you to review the total income earned and total taxes paid in the last decade. If you did the exercise, it may have revealed something shocking about the way you’ve managed your finances over the last decade.

I found this exercise shocking after doing it myself going back to as far as I could go to find my tax data. Although what I discovered was not a complete disaster, it was certainly mediocre. And this is totally acceptable given that for many years I lacked financial awareness and made so many costly mistakes along the way. Today, I am certainly more aware. Although I do slip to bad money habits from time to time, I’m able to learn and adjust quickly to get back on track. If you’re like me, you are also on the path to lifelong learning. This is one reason I committed to blogging on this platform daily for the next 365 days.

One of the greatest mistakes I made and one that most people make on the path to financial freedom is the lack of a strong focus on the “GAP”. The math equation below illustrates what the “GAP” is:

For many years, I obsessed about growing my earned income and paid little…