Money anxiety: tips for saving money.
Last updated: 28/6/2020
Money anxiety. Money and mental health always impact one another.
As of June 2020, I still have and blog on the side. I decided to write this article because our financial situation greatly impacts our lives and mental health.
I am going to share my knowledge, which is based on 5 financial books I have read and tested.
I hope you enjoy it and find this article helpful.
Table of Contents:
Mental health can be affected by various factors, such as medical (my wife’s endometriosis) or financial (this post). In the long-term, the lack of money can lead to anxiety and even depression.
Look around you – people live in a rush. We constantly want to get from A to B as quickly as possible. Especially in the morning on our way to work. But what does it do to us?
Living in a rush is stressful. Constant anxiety in a prolonged period of time can lead to depression as human nature is to have feelings and we all have a breaking point.
Many people are trapped in a constant cycle of going to work and paying bills. It is an endless, self-defeating, pointless pursuit.
We buy things we don’t need, with money we don’t have, to impress people we don’t like. It is a rat race and to play this game, whilst growing up, we have been programmed by society:
- Go to school.
- Get good grades.
- Find a safe and “secure job”.
- Work +40 years.
- Retire and live the final part of your life.
Unfortunately, the reality is a little bit different. It’s full of misery, anxiety, and sadness. People fight with each other. It is not their fault. We just want to survive in this unfair world. So, what’s really going on here? Let’s take a look:
- The school does not teach you financial education.
- Good grades won’t buy you dinner, hard work will.
- There’s no such thing as a “secure job”.
- You kill yourself for +40 years of your life.
- When retired, you have little time when you’re ill.
When you wanted to get a new toy, a new bike or clothes, what did your family tell you?
Your mum or dad told you to get good grades at school which would allow you to get a good, “secure” job.
You have been told that the only way to make money is through a job. It is not your parent’s fault, they have been programmed too.
The government wants you to just pay taxes and die. Allow me to repeat – pay taxes, get grumpy, fed up, and die!
Maybe some of these will sound familiar?
- Frustration with the 9 to 5 job that feels like a trap.
- Feeling sick of waking up to alarm clocks and fighting morning rush hour traffic.
- Being unable to travel like the world you want and always chasing the weekends.
- Drowning in coffee (We live) just to survive the boredom.
- Wondering if this is going to last forever.
Everyone is tired of chasing the weekends and vacations that never last long enough and the frustration with the illusions of the “life of your dream”. Because the reality of life usually includes things such as:
- One vacation per year. Really?
- A life that is dictated by a job.
- Not having enough time to do the things that really make you happy.
But what if that’s not your goal? Let’s face it – it never was.
So what can you do?
Well, you can do far more than you think, you can actually do quite a lot to make long-lasting improvements.
Allow me to list the basics but then we’ll expand on it later. For now, here are five ways to stop living paycheck to paycheck. In a nutshell:
Tip 1. Job security is an illusion.
So-called “job security” may have existed many years ago, in the Industrial Age. But in today’s Information Age and fast-changing world, it is just an illusion.
Maybe you know or have heard of someone who worked very hard in a big company for years? I did.
I worked my ass off for two separate companies in London, for years. They were both different and unrelated. What makes them similar is the fact, that they both went bankrupt!
All the benefits I’ve accumulated over time were gone. All that hard work for nothing. The ladder I climbed fell apart.
And now as artificial intelligence and technology evolve and more businesses and industries are disrupted, millions of hard-working people lose their jobs. So yes – job security is an illusion.
Tip 2. Work to learn, don’t just work to earn.
Before we get to the next point, do not just choose jobs that pay you the most. Pick an industry that excites you, that you can see yourself in for many years. Work required knowledge and development of your skill-set. No matter what happens to your job or the economy, you can always find a new way to get income.
Tip 3. Think of your job as temporary, not permanent.
Now that you know that job security is an illusion, be careful not to fall into the trap of thinking, that your job is the way to financial freedom. Don’t think of it as a permanent solution. I believe that while you’re working in a job, you should think out of the box and do something else on the side. But more on that later.
Tip 4. Put money aside and invest, invest, invest…
No matter how much money people earn, they tend to spend the entire amount at once and even a little more. Otherwise, they wouldn’t be in debt. When most people get a pay raise or find a way to earn extra, they increase their lifestyle and their expenses go up. Logic loses to emotions and greed.
Tip 5. Create your own security.
There is a way for you to create your own security. So again, we just give you the beginner’s information as we don’t want to overwhelm you with all of it at once. Besides, the subject is so vast! We talk about it in our other posts as it cannot be covered in one article.
You need to feel financially confident. Meaning that you have a valuable skill that you can always use to create income on demand no matter where you are. It’s what we’re doing here for instance by blogging. Yes, that’s right.
But this is just an example. One of the many ways you can make money online. We cover that in yet another post.
You can’t depend on the government, the economy, and the jobs. Now, I am not saying you should quit your job tomorrow and start your own business. You should do it like us, on the side of your daily job.
Contrary to people’s mindset savers are losers! I don’t mean it in a bad way but logically. Logic usually loses to emotions.
Let’s think about it for a moment…
Inflation. Inflation depends on what happens around the world. It is affected by many situations that happen on a daily basis – a war, political events, and such as election or Brexit.
If you have a saving account, you gain anything too little.
Allow me to explain why that is. If your interest is 2,20% banks make you believe you gain 2,2%.
But let’s put inflation into the equation. Inflation is 3%. Banks make you believe that you have an interest in your savings when in reality, if you do simple math, you lose 0,8% of it!
2,2% – 3% = -0,8%
So, as the example shows, you gain nothing but dust. Furthermore, you might even lose!
But not everyone has the same mindset. Of course, having family and all the expenses, it seems impossible to invest. But it doesn’t mean you have to throw the towel and give up. You still want to improve your finances to help your family.
Those people who cannot invest, due to personal circumstances can still do something to improve their financial situation.
Think about it for a moment. There are things in life we don’t need. We buy things we don’t need, with money we don’t have, to impress people we don’t like. So what if I told you, you skip these “necessities”?
Be honest about your spendings. You don’t need 5 cups of coffee, you don’t actually need to buy it.
Of course, we all like a nice cuppa at the café but you can cut out on that to a minimum, let’s say, have it over the weekend. In the week, going to work, make your own.
But there’s more you can do at home…
Clear out clutter and sell it online, switch energy suppliers. You may also ask yourself if you really need your TV license? There are enough channels without it. Compare supermarket prices before shopping or get cashback for shopping online.
These are just a few examples of many. You know your own spendings. Just make a list and “save” on unnecessary stuff.
Don’t listen to your emotions, focus on the logic. Be realistic. It can be done!
By setting yourself a realistic goal of £50/$60 a month, you will feel motivated, as a larger goal might seem too far out of reach.
Once you do achieve your goal, you’re going to get a better understanding of what works for you. Depending on the month, you can always increase your savings, when the situation allows that.
Mind your own business!
Let’s begin with a sentence…
“Most people spend more time planning a one-week vacation than they spend planning their life.” – Michael Hyatt
Start minding your own business. Keep your daytime job, put money aside, even if a small sum, and by the end of the month invest it. The safest idea is an investment in precious metals.
It’s easy. Allow me to guide you through the process:
Depending on where you live, the United Kingdom(like myself), the US, or any other country. The process is the same. I will explain it by giving my own example.
Firstly, you have to sign up for a billion investment company such as gold.co.uk, then simply follow the registration process. In case of any issues (which I doubt you gonna have), you can always call them between 8 am and 10 pm – 7 days a week on (UK) 0121 369 3000.
I am going to explain gold and silver investments in another, detailed article. Until then I give you the basics to start you off. You can learn a lot from Mark Maloney in “Guide To Investing in Gold & Silver: Protect Your Financial Future”. This amazing book is available through the link provided.
After accomplishing your registration with gold.co.uk you are ready to go!
The best advice I can give you is to focus on buying silver coins. It is the cheapest and safest, available to any one type of investment.
Why coins? Because unlike silver bars, silver Britannia coins are not taxed. They are available at low margins and popular due to their status as British legal tender making them exempt from Capital Gains Tax (CGT).
The silver Britannia is one of the cheapest was to buy an ounce of silver, making them a great choice for investors.
You can read more on the website. If you live in the US, you should go to goldsilver.com and follow their registration process. The investment’s principle is exactly the same.
Keep expenses low, reduce liabilities, and build a base of solid silver assets.
You noticed, that I didn’t mention investments such as:
- Real estate
- Notes (IOUs)
The reason is, all of the above depends on the unsteady market. Precious metals however are safe due to the fact, they have real value, unlike paper money.
Gold and silver were naturally selected as money even during the Old Testament in biblical times. God created gold and silver to be money.
Man created F.I.A.T. currencies. It was not God’s plan for humanity to corrupt a monetary system controlled by central banks, that are really controlled just by the “Elite Oligarchs”.
Precious metals are God’s money because they belong to Earth. Other things such as F.I.A.T., cards, or cryptocurrency were invented by people, therefore, they always fail.
Got the idea of precious metals? Let’s continue then…
Once a dollar goes into your precious metals asset column, it becomes your employee. You just chip in, top it up, buy a coin, or a few each month. You build your investment.
Having such an approach allows you to build your assets without making any changes to your lifestyle. Well, maybe a few coffees per month.
Start small and grow.
With money comes great power that requires the right knowledge to keep it and make it multiply. Without that knowledge, the world pushes you around.
It is best for you to do what I did and start reading books instead of sitting in front of the television. There’s nothing better than an informative book, that is not just science fiction but will improve your financial situation.
I would greatly recommend Robert Kiyosaki’s “Rich dad poor dad” to begin with. I promise it will change your view on “the money” and you will get a step ahead of 90% of the population, making better decisions and improving your lifestyle.
Each dollar in your asset column will be a great employee of yours. Each of them works hard to make more “employees” and so on.
This philosophy is to show you how to start small and grow. It is not gambling if you know what you’re doing. It is gambling, however, if you’re just throwing money into a deal and praying.
This is why investing in stocks or other markets is risky because you’re not in control, those who you give money are!
Of course, there is always a risk. It is financial intelligence that improves the odds. What is risky for one person is less risky to someone else. It is just a question of knowledge. You learn you know.
That is the primary reason you should invest in your financial education. The smarter you are, the better chance you have of beating the odds of losing money.
“It is not gambling if you know what you’re doing.” – Robert Kiyosaki
For the average individual, a passive income of more than $1,000 a year is nice and not hard to achieve. I said passive, meaning it’s on automation. You work for something first but gain passive income later (even whilst asleep).
The best advice I can give you is to do so by blogging. It takes time and a bit of dedication, but it’s a very low cost and totally double. I give advice on blogging and its benefits for mental health and wallet in this exact post.
So without any questions, I totally recommend you writing a blog. You can start your blog with Hostgator for as little as £2.75 a month!
Depending on your time, how smart you are, and your dedication, passive income through blogging can be done in three to five years.
If you keep your living expenses modest and spend saved money on the promotion of your blog, it can speed up the process. Especially if you use Pinterest for your promotion of your blog. Yes, you heard me right – Pinterest! Here’s an example of my profile.
Additional income is always pleasant, regardless of whether you work or not. But yes, you can make a living from blogging. Some people make even $200.000 (wait for it…) per month! But that’s a subject for another article we are going to post, when ready.
Meanwhile, you can work if you like or take time off if you choose and use the government tax system in your favor, rather than against you, and work on something you believe in.
People spend more time planning one vacation than their life and financial future. People who follow the crowd stay the same as the rest. If you want to achieve something in your life do the opposite direction. Don’t blend in with the crowd. Success comes from standing out!
Words such as “I can’t afford it” shut down your brain. “How can I afford it?” on the other hand opens up possibilities, excitement, and dreams.
The earlier you can train yourself to master your financial education, the better. Money is a powerful force, but people use their power in the wrong way.
If your financial intelligence is low, the money will run all over you and you are going to work your whole life. Think of finding a way to passive income.
Find someone who has already done what you want to do. E-mail them or take them to lunch and ask them for tips and tricks of the trade. You will be surprised by how many successful people are helpful.
They succeeded and want to pass their knowledge. You just need to ask. What do you have to lose?
The key to becoming wealthy is the ability to convert earned income into passive income as quickly as possible. Taxes are the highest on earned income. The least-taxed income is passive income.
That is another reason why you want your money to work hard for you. There is a difference between controlling your own destiny and giving up that control to someone else. Don’t invest in someone else’s stocks or bonds. Invest in yourself!
“If you don’t find a way to make money while you sleep, you will work until you die” – Lucjan B.
It Doesn’t Take Money to Make Money, it takes financial intelligence.
Why does it yourself when you can hire someone to do it for you, and they can do it better?
Think about it – you save time and even though you pay someone a little sum, you gain in the long run.
OPT and OPM. What is it? Most of us have heard that the secrets to great riches and wealth are:
- OPT — Other People’s Time
- OPM — Other People’s Money
OPT and OPM are used by successful people. For the most part, people who work or are self-employed (still work) are the “other people”, whose time and money are being used.
The obvious advantage of knowing how to make money is not having to get up and go to work, there are also many tax advantages that aren’t available to people who have to work for their money.
One of the reasons the rich get richer is because they can make millions and pay, legally, little or no tax on that money.
That’s because they make money in the asset column, not in the income column. They make money as investors, not workers.
Why Aren’t More People Investors? The reason is the same reason many people don’t start their own businesses. It can be summed up in one word – risk.
Many people don’t like the idea of handing over their hard-earned money and, possibly, not having it come back. Many people are so afraid of losing that they choose not to invest, no matter how much money they could make in return.
Your goal is to own a system and have people work that system for you or have a system that runs on automation.
Millions will not have enough money to retire, because during their lifetime of turning their money over to strangers it will never be enough.
A typical American 401(k) plan takes 80 percent of the profits. The investor may receive 20 percent if they are lucky.
So the investor (you) put up 100 percent of the money and takes 100 percent of the risk, but the 401(k) plan puts up 0 percent of the money and takes 0 percent of the risk.
The company makes money, even if you lose money.
The reality is that real investors do not park their money into savings. They move their money! It is a strategy known as the “velocity of money”.
A true investor’s money is always moving, acquiring new assets, and then moving on to acquire even more assets. Only amateurs park their money and unfortunately, the majority of people lack this knowledge.
If you are a saver, please be very careful! Especially if you are saving money in a bank or in a retirement plan. Watch inflation!
In general, savers are losers. If your savings are wiped out, either by market decline or devaluation of the money supply, you end up without money and remember that the U.S. dollar has lost 95 percent of its value since 1971. It will not take long to lose the rest of its value.
Chronic illness and money anxiety!
On a side note – if your money struggles give you anxiety, I’ll have you know that my wife went through a rough path filled with stress and panic attacks.
Due to her chronic illness, she couldn’t work for a while. Naturally, money was one of the reasons for her anxiety.
She tried to grasp as much support as she could, all in search of a solution, to help herself and to answer questions she had because M had to wait for her CBT for 9 long months!
What did she do in the meantime? M began by reading a lot of books. I have to agree, these books are very helpful in helping you understand your anxiety and depression, and helping you get out of the cycle. You can access them by clicking on each one below. Allow me to list them for you:
You may access these books by clicking either on the links above or the book covers below…
My wife have read this book in a jiffy! It helped her during her dark times to find compassion and love for herself. For somebody like M, who suffered from severe depression, I noticed that the harshest critic of her was herself. It is never helpful to be told to pull ourselves together by others but saying it to ourselves leads us in only one direction – into a terrible despair.
I listed this book because M also suffered from anxiety at that time, it helped her mindset and depression. AN obsessing, ruminating and dwelling on things may or may not happen, but this book makes it simple to understand, how to manage your fear. Your brain is a very powerful tool, and the more you work to change your mindset, the better you’re going to feel.
This is another book which my wife reached for during her depression, because it offered my wife a self-help programme, written by one of the leading authorities in CBT. M also suffered at the time with OCD. A whole range of anxieties and fears are explained, from panic attacks and phobias to obsessive compulsive disorder (OCD) and generalised anxiety. That really helped her!
Few basic terms...
Now, let’s get back to the core of this article…
Do you know the difference between an asset and a liability? The main difference is that assets provide benefits for the future, liabilities provide present “value” for the future obligation.
Do you know the definition of the word mortgage? It is simply an “agreement until death”. No need for an explanation.
The word “finance” in reality means “penalty”.
So, learn my friend. Read, read, and then read even more. Financial education is the greatest education of all because if you were to succeed and by chance go bankrupt, you’d know how to put all the pieces together and get back to the point of your success.
It will be only possible if you learn financial education. Even knowing the basics of the trade, you’d know more than 90% of people due to the fact, no one teaches it at school.
People who rely on luck and win a lottery, lose all the money and don’t know how to build it again.
“If you want to be rich, just find out what everyone else is doing and do exactly the opposite.” – Robert Kiyosaki
I have read 5 financial books, and can openly tell you, they gave my a lot of valuable tips, like the ones I mention in this very article.
The best thing you can do is GRAB THEM, and read them on your way to and from work, whenever you find free time. You will NOT regret my friend!
I listed 3 of them them below, you can access them within once click on the book cover…
“Rich Dad Poor Dad” is Robert’s story of growing up with two dads his real father and the father of his best friend, his rich dad and the ways in which both men shaped his thoughts about money and investing.
The book explodes the myth that you need to earn a high income to be rich and explains the difference between working for money and having your money work for you.
The book urges parents not to be obsessed with their kids’ “letter grades” (“good grades” might only mean they or the student themselves were successful in jamming a square peg into a round hole…) and focus, instead, on concepts, ideas, and helping their child find their true genius, their special gift. The path they can pursue with a love and true passion.
In “Rich Dad’s Conspiracy of the Rich”, Robert Kiyosaki explores why many people are waiting for the political and financial systems of the world to change. He shares his opinion that it’s easier to change yourself than to wait for our leaders and systems to change.
It is time for you to take control of your money and your financial future!
Mind your business!
So again, start minding your own business. Keep your daytime job, but start buying real assets like silver or/and gold. Keep expenses low, reduce liabilities (a car or a loan), and build a base of solid assets (like precious metals or build a blog).
The question you need to ask yourself is – where is my daily activity taking me? Am I just like this little hamster, wondering where my hard work is taking me? What does the future hold?
There is a difference between controlling your own destiny and giving up that control to someone else.
So if you haven’t thought of build a blog yet, remember that anyone can! Consider joining affiliate programs via your blog and earn money whilst helping people solve their problems.
This is in my humble opinion the best way to passive income, financial freedom, and the life of your dreams!
Besides, writing and sharing our knowledge through blogging is the best way to distract yourself from any negativity. It makes you focus on something else than worries. It’s just the best medicine for your mental state.
By blogging you reach to more people, not only to help them, they can give you advice, if they experience similar issues but know the solution to a problem.
The job of a blog is simple – it helps its customer solve a problem. You have a need or a problem and our business is to offer you the solution. Sometimes the solution is a tool, a product you can buy. Other times it’s a methodology that we teach or a service we can direct you to. Either way, our goal is clear – we need to help you solve your problem.
So, after reading this article you should power up your laptop and blog! Help other people, your own mental well-being, and even your wallet.
As you are learning, there’s a lot of ground to cover and I can’t wait to dive in with you.
But you need to know first, that generating passive income is NOT easy and it takes a lot of hard work.
Nothing in life comes easy and that goes for making money online. Many conventional internet marketers and online entrepreneurs will try to persuade you to think otherwise. Why?
Because they’re trying to make money from false hopes. I’m here to tell you the truth – online business is hard. Don’t get me wrong, I don’t mean to discourage you.
I’ll do my best to guide you and give you the information you need, but I can’t force you to take action. That’s only up to you my friend.
Everyone knows that money is important these days. People complain about work and their life. They all want things to change, but not many actually do anything about it! Life is not easy.
But thinking and moaning about life nothing will ever change. Action does!
You can sit and worry about it but if you don’t take action your financial situation will never change.
One of the biggest misconceptions people have is thinking that they need money in order to make money. It is a myth, it is actually the lack of financial education. And it is not your fault or mine. They don’t teach that at school. I wasn’t thought about it either. So how can you make “money”?
Well, since you read this article you must have access to the internet. Right then, if you do have access, that is all you really need.
The Internet is vast and you can get a lot of vital information. Plus, I’m a financial nerd and “money” is my hobby.
There’s also an issue of money being in a different form than paper or a card. Let’s take a car or your tv. People believe it has some value, right?
No! Wrong again. The lack of financial education leads people to this misconception. People believe that their own assets. Even your house doesn’t have a value.
Your house is your liability because you pay the bills, council tax, and all these things that the building required.
But I’ll expand more about it later. Money makes the world go round. Without it we get anxious, we worry, we argue, we suffer but it also makes us feel relaxed, smile, be happier.
People say that money is the root of all evil but it’s not true. It depends on the fact who has it and of the point of view.
I say that money can be a root of all good, because how can you help the environment without funds or how can you help someone homeless on the street? Exactly.
The main reason you have no money!
Let me put aside health reasons or being born in a war zone area. There are situations that are out of our control so I want to be clear on that.
In this post, I am talking about common Joe and ordinary Jane. I am going to be brutally honest because someone has to say it…
Here’s the thing, the one thing standing in the way of you getting stronger financially. Please don’t take it the wrong way, because I don’t intend on making anyone upset but it needs to be said. The reason is you.
For those people who think they know it all and don’t need any advice, they will never change and improve.
But yes, you might not like what’s being said but you and only you can change your financial situation. Your mum won’t do it for you, your boss (haha!) never will, and there’s your job…
Yes, your job. I mentioned that earlier – unfortunately, your job is not enough! Look around you and tell me what you see?
People work 9 to 5. Some work their butts off doing 12-hour shifts daily. I was guilty of that but I woke up. It’s madness, it is a rat race! And all of this just to be taken away by others.
The majority of people don’t realize what’s really going on. What I mean is that you don’t have just one employer. You might believe you do but you don’t.
There’s more to it. Have you ever stopped to think about it? You work for more people than you think. Let’s break things down:
- A job – your boss.
- Taxes – government.
- Health insurance – government or private.
- Retirement – government or private.
- Your car, loan, vet, bills, children, shall we go on..?
So as you can see, there are many things that can give you a headache and if not sorted, they may evolve into anxiety and even depression due to debt, health problems, and even the risk of being homeless.
Depending on the country you live in (I’m lucky to live in London) some countries have benefits in the form of “free” national health service (NHS).
These are being provided as long as you pay taxes, so in reality, they are not “free”. We pay for them upfront. You see – the government takes your money on any occasion but still, I can’t complain. It’s a great idea.
Those who have NHS like the United Kingdom are lucky. It provides a sense of security if something was to go wrong and we got ill or lost our job.
The majority of the problems originate from lack of money but don’t panic my worry heads, as we’ve got you covered!
Why don't you have money?
Two words – bad habits. Have you ever thought of your life? What do you actually do when you wake up? Are you happy or anxious?
It is such an important question but no one ever asks that themselves. Why? Most people do the same, old and repetitive things every morning, and the pattern of the rest of their day doesn’t change either.
We are creatures of habit but at the same time, we don’t like changes. We like the comfort of our couch and TV.
Who does not?
But there’s so much more to life and little changes can go a long way and be good to you! Why?
Because however, we like comfort and habits, no one wants monotony.
People get bored. But you don’t want to be one of the 90% of the population that wakes up at the age of 40 thinking “I wish I…”, do you? There is no reason you can’t start thinking of your life at the age of 50 and I’m not saying that it is too late either.
It’s just what usually happens, it is what most people do and that’s a fact. I am not saying it’s not worth changing your financial situation later in life, because it’s never too late for anything but the sooner you start, the earlier you achieve. It’s that simple.
I was in my late-thirties when it hit me but it did. I decided to implement changes in my life, so if common Joe like me managed, anyone can. Regardless of sex or age, anyone can achieve something in life.
The only thing you need is to be willing, consistent, and realize that it takes time.
“I don’t have time,” people say. But don’t they? What about those countless hours spent on the couch on the front of the television, long mornings in bed every weekend. And what about people who travel to work and back, do they really have to play candy crush saga?? No!
Yes, you can stay on the couch, sleep till 2 pm every weekend and waste your life away. You can play games or drink and moan but I said “no” to it.
I told myself that it’s time to wake up! To do something about my life before it’s too late. The last thing you want is to ask yourself before dying – I wish I…
Yes, I won’t lie – it might take time but so will watching TV. And what does it do for you apart from programming your mind (hence its name – TV program).
Does it benefit you in any way? No. So, it’s going to take time. Maybe a few months, a year, or a few before you reach your goal. It’s up to you.
This article is not about getting stinky rich, although if you’re willing to work hard, the level of your commitment can go a long way. It’s vital to spend time with family but there is always time for a book.
There is a time for education. I used to be terrible at this. I couldn’t wait to get home and play computer games. And what a silly woos I was!
What have I achieved doing so? Absolutely nothing!
But I have learned that it’s better to spend that time on something productive rather than nonsense.
Today I am glad I’ve made that decision. I found my financial passion. I don’t need computer games. You have to skip the unnecessary habits that bring you nothing in the long run. I hope you do, you will not regret it. Work now, enjoy later.
We learn about our mistakes, not about our success. I am no alpha and omega of financial education but I want to pass on to you what I’ve learned, and what worked for me. I believe that his post is going to work for anyone who struggles with their anxiety about money.
Do you remember the credit crunch of 2008? The financial crisis happens roughly every decade. It’s 2019 and we’re in the time frame about to hit a big one.
You might not realize but there was a mini-crisis at the end of 2018. You probably haven’t noticed, unless you invest in the market and it was relatively short but scary to those who invested.
At the time many people toyed with bailing out of the stock market. Apart from me. I didn’t. I wasn’t in it. I haven’t lost because I don’t believe in stocks, they are a pure lottery. People don’t think of these things. What’s important these days is how you look and what people think of you.
If I cared about negative comments, that by the way come from those who wish they had what you have, I would be depressed by now. People like to blame others for their own failures. It is none of my business what people think of me. If I cared about that I wouldn’t achieve anything.
I don’t waste time on worry but take action. Success comes from standing out not from fitting in. People always look for something new. Live like there’s no tomorrow because there isn’t one.
You weren’t born to pay taxes and die, were you? Do something about your life! I do.
“The 90/10 rule"
The rule mentioned above is quite simple. 90% of people have financial problems. 10% of people live the life of their dreams.
The reason for the 90% of the population not knowing is simply the lack of financial education. People think they know it all and try to give advice to others. Unfortunately, other people listen to their neighbor or college.
To begin with, I used to spend money as if I had a lot and I kept ending with my account near zero before I got my next paycheck. That led me to be fined quite often, therefore I was losing more. I’m guilty of that. But I’ve learned because we learn about mistakes, not about our success.
Like the majority of people, I used to spend money as soon as I got it. Hmm… How silly of me! After meeting my wife I wanted to be more responsible but bad habits were difficult to break.
If it wasn’t for her being very understanding and patient with me I wouldn’t be where I am now. She helped me break it through my spending habit. I owe my wife a lot!
No, she did not support me financially but kept my mind on track by reminding me of my past mistakes. Yes, I used to be lazy and yes, I used to play silly games instead of focusing on what matters. I wanted to repay her so I began to learn.
In a few months, I have read 5 financial books and was on my way to read another when my brother, who’s an accountant, told me about his metal investments. I never used to trust investments and there is a reason behind it, but precious metals are a different matter.
People are addicted to their screens and cannot live without it. There’s barely any face-to-face conversation and it’s sad. People tweet on a daily basis instead of listening to a real bird’s singing. They ignore nature and the world around them. They’re obsessed.
People care about Facebook and stories of others more than about their own.
Why is that? They take 500 selfies and then amend them with Photoshop so they don’t look themselves anymore or take photos of their food. Does it really matter what your friend ate for dinner? What is going on?
I worry that this generation will be taking care of me. Thank you very much, I’d rather prepare myself so I can pay for private help. Someone who cares. As scary as it’s sounds we’re in the digital era. There’s no way around it. But in these crazy times, we live in is a huge advantage for you.
Since 90% of people lack financial education, they miss great opportunities. And you must remember that every crisis has an opportunity. The only difference between rich and poor is the way they use their time. We all have 24 hours in a day. Use it wisely. That’s all the secret in a nutshell.
I urge you all to reach for the best books about financial education and investments. Mike Maloney and Robert Kiyosaki are leading in this field. Their books helped me a lot. Below I give you books that I based on my knowledge and this post. Again, I’m no alpha and omega but I learn from those who are.
These books reveal 99% more valuable information than this article does. My post is just a little touch but as I mentioned at the beginning, I am going to blog more about the subject of financial education because the lack of it leads so many people to naturally having mental health issues.
Good luck and I wish you all the very best on your journey to financial security.
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Who am I?
Hi, I’m Lucjan! The reason why I decided to create this blog was my beautiful wife, who experienced a lot of pain in life, but also the lack of information for those who support their partners… [read more]
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