Tag: money

How to be wise with money

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Have you ever struggled with money? Maybe you didn’t have all the money you needed while growing up or maybe now, you have a decent amount of money, but you keep overspending. Money is just one aspect of your life. The relationship with money starts in your mind.

What you are planning to achieve in your life? Do you want a family? Or do you want to live on your own terms? Having a clear perspective of your goals helps you budget better and stay on your track with your finance. If you are at the point in your life where do you want to travel the world, a house may not be a priority, so your budget may something like this: 50% needs/general expenses, 30% travel budget and 20% savings. In that part of 20% of savings, you can save 10% for a house in the future and 10% for emergencies, this way you are not spending all your have.

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In case you are already married, or you have a child, you may wish to have a house. In that case, many people go to a bank and ask for a credit. They will be in debt for the next 10-30 years for an asset they wish to posses. So, if you are planning to own a house, start searching the best bank credits with small interest rates, but beware of the hidden costs such as commissions. From my personal point of view, you should make a credit only when you are ready , not at the pressure of society to own a house. You don’t have to do what everyone else is doing . If you are comfortable with staying in a rented house, go ahead and do that for a couple of years before figuring things out. For me, personally, going in debt in order to buy a house is not applicable, since I consider that you should have a job that you are passionate about or at still like doing it, or working in a field that you see yourself working in for years. You need to be able to have a job, a steady income for that debt to be re-payed over the years.

Regarding investments, the best investment you can made is into yourself. It seems logical, that you are the only person that you will always have. So, be strong mentally and psychically fit, you can achieve everything you want.

In order to be financial wise, I recommend reading all Robert T. Kiyosaki’s books (https://www.richdad.com/, consulting Investopedia site (https://www.investopedia.com/) and The Financial Diet (https://thefinancialdiet.com/).

I hope that this help in some way or another..

Thank you reading 🙂

Stop buying unnecessary things

Build your wardrobe

Building a wardrobe takes time. The clothes you wear will different through different stages of your life. Take your time finding your style.

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When you are young, you are dressed by your parents, but as time passes, in your adolescence you will find yourself searching your identity, so the old clothes that you already have, it will begin to fade away in your eyes. So, in your teens you will begin to express your opinions and dress accordingly to the idea of you. Your image will continue to evolve, you will begin slowly to take decisions regarding to your future and you will want to dress more professionally. At university, college or after high school, the clothes you had no longer correspond to the next chapter of your life.

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Let’s assume you graduate, and you want to start living as a an adult. STOP, do not begin to buy a full new wardrobe for interviews, you do not need that, you do not need a bunch of new clothes for a job that has not even attained. Have 2 options for interview clothes and that will be enough, you will be interviewing at different companies, so no one will ever know that you wore the same outfit twice. As you GOT a JOB, probably not the one you wanted, but it will something that will pay, start studying people around the workplace/office, and then adapt yourself, maybe everyone is casually dressed and then you saved money by not buying a full wardrobe of elegant clothes that will not fit your new environment. Go, dressed with the clothes you already have and then build slowly your wardrobe by adding a few pieces that easily mix and match. People do not expect you dress on point on your first job, most probably they do not pay attention to you at all, you are not the TOP EXECUTIVE, so dress accordingly to your budget. As you career progresses, your wardrobe will evolve as well, you may add more expensive pieces, but please be careful to check the fabrics so that they can last longer.

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Choose wisely the clothes you wear, after all having a lot of clothes means wasted money that were better used elsewhere. Having a mindful approach towards clothes helps also the environment.