I don’t believe the adage “What you don’t know can’t hurt you?” Whoever said that was a complete and total moron.
Most people who overspend their income in one of three ways:
- Too much house.
- Too much car.
- Too much entertainment.
Delayed gratification means learning to give up temptation for long-term benefit. There are a multitude of hidden benefits associated with practicing delayed gratification and if you take the time to realize the huge significance it can have on your life, you’ll soon begin to practice it with ease and reap the immense benefits that come with it.
Financial independence is the point at which you have enough money in savings and investments to support yourself for the rest of your life. You can get there in your 60s. You can get there in your 30s. Age is irrelevant.
The ‘What-the-hell-effect’ is when you have spent more than you have earned and then decide that you might as well fail spectacularly. In short, you don’t care!
Personal finance is learning to budget, spend mindfully, and find a balance between seizing the day and saving for the future..
Financial stress is not measured by how much you earn, rather by how much you save and spend..