Your impulses are largely focused around getting gratification in the moment. If you want to experience the best life has to offer, you can’t be focused on short-term impulses.
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.
Spending all your money today because you might die tomorrow is reckless, selfish and not sustainable.
The purpose of money is not to buy things. It’s there so that we can buy ourselves some freedom, so we can do the things that make us happy.
If you are thinking of getting out of debt, my advice is simple. Get Started.
#46. Dad, do you think that it is important to maintain an image, even if you cannot afford to do so?
“Be authentic!” Maintain an image that your income cannot support goes against being authentic. You cannot pay your bills based on how you appear to be.
It is important to balance preparing for the future and enjoy the present as long as you do not spend more than you earn.
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!
When it comes to understanding money, ignorance is not bliss.
I’m glad that you bought the shoe on sale, but, you should consider whether you saved $100 or spent $300 on something you did not need.