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Refocusing my motivation to become wealthy

Erik Folgate

It has only been a few years that I have been so passionate about personal finance and becoming independently wealthy.  I never had the drive or motivation in my teenage years to start my own business.  I now feel like I focus too much on new ideas, budgeting, and where to invest my money. Balancing greed with fiscal responsibility has proven to be harder than I thought it would be. 

I think it is healthy for all of us to evaluate our motivations.  Why do I want to start my own business?  Is it because the income potential is limitless, or is it because I really like the idea of being creative and having a flexible schedule.  I can honestly say that it is the non-monetary aspect of it that motivates me.  I told my wife the other day that I want to have the feeling of knowing that I can go and visit my best friends in another state whenever I feel like it.  I don’t want to have to think about how many paid time off days I have left at work.  I hate knowing that if I show up to work 5 minutes late that someone is whispering behind my back and questioning my work ethic.  I hate the fact that I have to report to someone first if I have a new idea about how to do something.  I understand that entrepreneurship is not for everyone, but I truly believe it is for me. 

Another one of my motivations is the act of giving.  My heart is always in the right place when I am in a place to give and give generously.  It is hard to give generously when you are on a fixed income with a ton of bills.  Giving is like medicine to the soul.  Put yourself in a position where you WANT to give and I believe you’ll live a longer, happier life. 

Erik Folgate
Erik and his wife, Lindzee, live in Orlando, Florida with a baby boy on the way. Erik works as an account manager for a marketing company, and considers counseling friends, family and the readers of Money Crashers his personal ministry to others. Erik became passionate about personal finance and helping others make wise financial decisions after racking up over $20k in credit card and student loan debt within the first two years of college. Another one of Erik's projects is the site, Stuff We Google.

Learn more - including co-founders Andrew Schrage and Gyutae Park.

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