How I manage my savings, earnings and salary
The perpetual money-saving trick and my relationship with it (not textbook but EVERYDAY LIFE)
When you become an adult, start managing your time, your space and your money. You know that you will have to make a life of your own and you prepare to “fight” with the whole world.
Over the years I have stumbled a few times on some negative events that serve to LEARN and NOT repeat the same mistake in the future.
It is no coincidence that those who “do nothing in their day will never have problems”… in fact, I think it is the first ingredient in the recipe for happiness.
I always try to give a utility to a purchase. It shouldn’t only serve me at that moment, but the use must be spread over the long term, if it will be used to create extra income and revenue even better.
For example, a drill can be used to do extra handyman work and charge $25 an hour. And monetize your working time.
A contradictory “financial rule” of mine is: the higher the gain, the lower the expense to have as much as possible for future eventualities
In a precisely contradictory way, I am the first to say that money is meant to be spent, but in smart way.
No gambling, alcohol, tobacco, bank mortgages (death trap) or debit or credit cards (only if I cover 35% of the maximum monthly spending).
For extra expenses I set myself leisure a monthly limit of 20% and 40% for food and mobility (gasoline for cars) the remaining 60–40% remains in wallet.
Investment funds and insurance are welcome, especially medical insurance to be covered outside the country on my travels in case of illness or health problems.
The important thing is not to panic and not fall into the psychological trap “Now the money is there I can buy those shoes. But those bluetooth headphones are beautiful. Even that accessory for my car. Tomorrow the money always comes back.”
NO IT DOES NOT.
As children we used to say “how good this sandwich” … Now I say “this sandwich is worth half an hour of my work and my day.”
It is always better to keep the money for a trip where you enrich your soul and increase your cultural baggage, a good book that deals with the subject of economics, finance and savings, a language or cooking course or a last minute adventure out of town …
Invest your earnings in yourself and not in useless objects that fill your garage and not your soul and mind.
Be smart : )
Article 17 May 2023 LDD
