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How to spend your money for a better quality of life
My Power 5 Spending Principles
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#finlit
My Power 5 Spending Principles
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#finlit
1) Pay yourself first, spend the rest second
Ex: You earned $100, send $10 or $20 to a mattress, envelope, savings account. Just move it.
Creates immediate positive cash-flow
Spend the rest, but do this every time any Income is earned
It& #39;s a sinple path to wealth LT
Ex: You earned $100, send $10 or $20 to a mattress, envelope, savings account. Just move it.
Creates immediate positive cash-flow
Spend the rest, but do this every time any Income is earned
It& #39;s a sinple path to wealth LT
2) Choose Experiences over "Things"
Great memories are priceless
Day trips don& #39;t have to be expensive
But get out, go somewhere
Opens your mind, enhances self discovery too
Explore nature, go to a museum, a concert or a game (hopefully soon)
Trips > TV
Great memories are priceless
Day trips don& #39;t have to be expensive
But get out, go somewhere
Opens your mind, enhances self discovery too
Explore nature, go to a museum, a concert or a game (hopefully soon)
Trips > TV
3) Spend like an educated Consumer
Research the products you want to buy
Look at reviews & price points
Know your emotional triggers
Sleep on it, be patient about bigger purchases..get comfortable before buying
Do these things to avoid any buyers remorse whatsoever
Research the products you want to buy
Look at reviews & price points
Know your emotional triggers
Sleep on it, be patient about bigger purchases..get comfortable before buying
Do these things to avoid any buyers remorse whatsoever
4) Cash over Cards
Use cash or debit cards (tied to checking) primarily
If you can& #39;t afford it with cash, then it hasn& #39;t been "earned" or "deserved"
Only use credit cards only for small purchases to build FICO
Credit Card debt is just too expensive 15% to 30% apr
Use cash or debit cards (tied to checking) primarily
If you can& #39;t afford it with cash, then it hasn& #39;t been "earned" or "deserved"
Only use credit cards only for small purchases to build FICO
Credit Card debt is just too expensive 15% to 30% apr
5) Prioritize Personal Values
Spend more towards your happiness areas (hobbies, likes, projects, new interests)
Whatever you are into, it makes sense to spend on that
Ex: I don& #39;t regret spending any money on my koi pond. Wasn& #39;t big numbers but great return on happiness for me
Spend more towards your happiness areas (hobbies, likes, projects, new interests)
Whatever you are into, it makes sense to spend on that
Ex: I don& #39;t regret spending any money on my koi pond. Wasn& #39;t big numbers but great return on happiness for me
Hope this thread helps add some clarity to your spending approach
Just try to be efficient whenever you can
Make sure you are getting some value from your spending
If you liked this thread then pls kick it around the twitter-verse with likes & retweets
Just try to be efficient whenever you can
Make sure you are getting some value from your spending
If you liked this thread then pls kick it around the twitter-verse with likes & retweets
