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How I manage to invest 52% of my salary every month
The 5th reason is the most important
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The 5th reason is the most important
/THREAD/
1. High-paying job
Skills pay the bills, but high-paying skills pay the freedom ticket
I always try to acquire skills that are in high demand in the job market
Find something you like and you are good at and leverage it
Skills pay the bills, but high-paying skills pay the freedom ticket
I always try to acquire skills that are in high demand in the job market
Find something you like and you are good at and leverage it
2. Paying myself first
Once my 9-5 salary hits my bank account, my first expense is myself
I contribute a specific amount every month for my investments
Then, I spend what's left after investing and not the other way around
Once my 9-5 salary hits my bank account, my first expense is myself
I contribute a specific amount every month for my investments
Then, I spend what's left after investing and not the other way around
3. Budgeting
I know where every dollar goes every month
I make sure each dollar has been assigned a job
It helps me stay on track and have an overview of my financial situation
I prefer knowing where my money goes rather than wondering where it went
I know where every dollar goes every month
I make sure each dollar has been assigned a job
It helps me stay on track and have an overview of my financial situation
I prefer knowing where my money goes rather than wondering where it went
4. Frugality
Many confuse frugality with being cheap
I spend lavishly on things of high value
• Education
• Networking
• Investing in myself
I avoid spending on low-value items
• Designer clothes
• Fancy gadgets
• Home decor
Many confuse frugality with being cheap
I spend lavishly on things of high value
• Education
• Networking
• Investing in myself
I avoid spending on low-value items
• Designer clothes
• Fancy gadgets
• Home decor
5. Mindset
The most important factor was shifting my mindset
• I value financial education
• I prefer to sacrifice short-pleasure for long-term success
• I don't try to keep up with social trends or impress others
The most important factor was shifting my mindset
• I value financial education
• I prefer to sacrifice short-pleasure for long-term success
• I don't try to keep up with social trends or impress others
6. No lifestyle creep
Despite getting raises over the years I have never increased my cost of living
Each salary raise or extra income is going back to my
• Investment portfolio
• Side projects
• Education
Despite getting raises over the years I have never increased my cost of living
Each salary raise or extra income is going back to my
• Investment portfolio
• Side projects
• Education
7. Found my why
I laid out the reasons for living frugally and investing consistently each month
I want to
• Have freedom
• Control my time
• Become financially free
• Work on passion projects
I laid out the reasons for living frugally and investing consistently each month
I want to
• Have freedom
• Control my time
• Become financially free
• Work on passion projects
To summarize:
1. High-paying job
2. Paying myself first
3. Budgeting
4. Frugality
5. Mindset
6. No lifestyle creep
7. Found my why
These factors help me invest more than half of my monthly income and be on track to become financially free
What would you add?
/END/
1. High-paying job
2. Paying myself first
3. Budgeting
4. Frugality
5. Mindset
6. No lifestyle creep
7. Found my why
These factors help me invest more than half of my monthly income and be on track to become financially free
What would you add?
/END/
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• Finance
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