Hamster wheel

Jim Rohn was an American entrepreneur, author and motivational speaker. I never

followed him, but appreciate the powerful quote attributed to him about how we build

true independence. Most of us in this country are on a financial hamster wheel. Though

the rotational speed differs based on our debt to income, wealth and life style—the truth

is we are on a path to achieve below our financial goals. The vast majority of us are

struggling financially in a chronic way.

Take for example those living in the US, most of us…more than 70% percent don’t have

savings of $1,000. I have seen different research that places the range between 40 and

70%. It really doesn’t matter, what the percent is…this is a terrible place for any of us to

be in. Hamsters differ from us in this way—they are hoarders, they store food in their

burrows (save) and because of their poor eyesight invest in creating entrepreneurial

pathways by connecting to their environment —is this not enterprising and profitable?

I’m not exempt from this. I have experienced my fair share of hamstering. We all feel the

pressure to match the consumption of others and far too many of us just don’t make an

income that is conducive to thriving.

Why do I use the overused metaphor of a hamster wheel? A hamster wheel involves lots

of motion, but never achieves anything important or the end of a task, in this case

financial freedom. Hamsters are also nocturnal meaning they sleep during the day when

most people are “working, investing, turning income into capital”.

To stop hamstering here are a few tips:

1. No matter your income, create a personal balance sheet. If you have little by way of

finances, it is still a great discipline because you are poised to grow financially.

2. Budgets are misunderstood as tools that are designed to constrain us; the truth is they

are design to train us. We should condition ourselves to spend less than we make.

3. That’s it, let’s start here.

From struggle ensues significance and success