“Um, Anya, while I completely trust you to take care of the inventory and the money, um, dealing with people requires a certain… finesse.” – Giles, Buffy the Vampire Slayer
Yes, indeed. Say it with me, finesse. PEOPLE. REQUIRE. FINESSE.
I cannot tell you how many times I have done business with people and their attitude caused me to cancel my transaction. All I ask for is a little kindness. Being nice can go a long way.
If you are passionate about what you do, then you are generally more pleasurable as well.
People will forget the things you say or do, but they never forget the way you make them feel. I learned that from Maya Angelou. And it is so true.
Today, I want to share with you some advice from my peers. Money Bloggers.
I won’t talk your head off. Let’s dig right in.
1. MONEY IS POWER
https://twitter.com/ApathyEnds/status/1060532542523215872
You better believe it. I read every contract. Cross every T. And dot every I. The reason I have an Emergency Fund is for my peace of mind. It means no matter how much the government changes the laws, your job sucks, the lack of integrity around you, or people’s scruples, you are protected.
Here are some of my posts on the importance of emergency funds and having money in the bank.
How I went from $5k to a six figure 401(k) in 6 years
How not to be house rich, cash poor
3 Money Lessons from Til Debt Do Us Part
How to get access to a $250,000 emergency fund with $0 of your own money
How to build an emergency fund
2. LOOKS GOOD ON PAPER, BUT YOU NEED SIMPLICITY
“Complicated ideas look good on paper … Simple, powerful, well-executed ideas move mountains (and build wealth).” https://t.co/z6Mp8Bj5hE
— Chad "Coach" Carson (@CoachChadCarson) April 5, 2016
I say to people all the time to keep it simple. I use the KISS method. Keep it simple stupid.
In my experience, complexity leads to disaster. You need something you can understand and do without always needing the help of a professional.
I used advice from Warren Buffet and kept it simple.
How I used the Buffet 25 strategy to walk the talk
You don’t need money in 8 banks, 20 credit cards, and 3 homes if you can’t find a way to manage it. Simplify it. Hire a financial advisor and property manager. Or just decrease the amount of banks and credit cards you use, homes you own, and stuff you have.
No matter what, simple is best. KEEP IT SIMPLE!
3. YOU DON’T HAVE TO SPLURGE ON EVERYTHING
Things Worth Spending MAX Money On For A Better Life – https://t.co/IXRyboM4Cm – You don't have to splurge on everything. Just the most important things. What's missing from the list? pic.twitter.com/3aM4LU7KGX
— Sam ⚔️ Financial Samurai (@financialsamura) November 24, 2017
Absolutely, you don’t. I read a book years ago on health and fitness called Beyond Diet. She stated instead of buying all organic just get a few main items such as milk to keep your budget in check.
I have always spent my money on the things that mattered most. Namely, my health, education, a good pair of shoes, a good coat, and reliable transportation.
See more on saving and buying what really matters.
Money Lessons I Learned from Jay Leno
Health really does equal wealth
4. GET RID OF UNNECESSARY BULL$*IT
Because I'm a money nerd and a comics nerd, one of my favorite things is when these two obsessions come together in the form of (drum roll, please): financial graphic novels!
You might think that's a niche I just invented, but you'd be wrong. https://t.co/ea0q30ojwl pic.twitter.com/e13jgOoPrs— Get Rich Slowly (@getrichslowly) November 22, 2018
Growing up, my father always said get rid of anything you don’t need.
To this day, I trash, donate, or sell anything I don’t need.
I try to live a minimalist life because I don’t want to have to buy a bigger home or storage locker just to house more STUFF!
Have you ever noticed its easier to buy stuff than it is to sell it?
Less stuff, more wealth. People matter more than things.
Money and Relationships…3, 2, 1
5. TEACH THE KIDS ABOUT MONEY AND THEY MAY BE ALRIGHT
my son – "Who wants money when you can have candy and toys??"
Guess I still have more teaching to do haha…— J. Money (@BudgetsAreSexy) November 29, 2017
I take every chance I get to educate someone about money. I bought the Automatic Millionaire for my best friend years ago, so she could get better acquainted with Mr. Benjamin, cause it’s all about those Benjamin’s.
If you don’t teach your kids about money, they will grow up not knowing how to earn and manage it.
If your not sure where to start, check out my post on Scrooge McDuck. It’s kid friendly.
Money Lessons I Learned from Scrooge McDuck
Introducing the $100,000 bottle of water
6. START A MONEY DIARY
https://twitter.com/TheFrugalGene/status/955032100817825792
You think you know where your money’s going, but you have no idea.
Well, welcome to the club. Most people have no idea where their money went.
I suggest you start tracking it right now. Yes, stop reading this post and go track your net worth right now!
You can only do better when you know better.
7. A CAR IS NOT AN INVESTMENT
A car is not an investment, it's a tool. It's ok to spend more money to buy a nicer tool. Especially if it's a tool that you use often and needs to be relied upon.
There is nothing wrong with owning nice things, just don't lie to yourself by justifying it as an investment.
— Ninja Budgeter (@Ninjabudgeter) July 29, 2018
Don’t even get me started on cars. Like money, it is just a tool.
I paid off my car about a decade ago. Here is a screen shot of my $0 balance. I paid off that car and out that money to work for me. Forget cars! You do not need an expensive car.
It is a huge budget buster.
Just read any one of my gazillion posts on them.
Life is good, without a car payment
8. GET AN EDUCATION
A3: You can also use the money to send yourself back to school or anyone else for that matter, nieces, nephews. #mcchat
— One Frugal Girl (@OneFrugalGirl) February 22, 2013
I don’t care if you simply read books by rocket scientists, or you go to Yale like Rory, I just need you to get a good education.
Read my post on investing in yourself.
Forget casinos, bet on yourself
9. ASK FOR WHAT YOU WANT
Very odd.
So many of you ask me how you can make more money.
And I give you a SOLID suggestion that probably costs the least amount of money, effort, and time to start.
Blogging. And yet you still don’t try!
You don’t have to use my referral link if that bothers you.
— Timothy S. Kim (@timothy_skim) January 14, 2018
Ah yes, they say ask and you shall receive. However, you still have to ask and do the work. Nothing is for free.
The sorted topic of coin is a tricky one. Money is emotional. But side hustles can get you more money, so I say why not try to EARN money by doing something you are good at and do for free already. Just a thought.
You want a million dollars? Ask for it
How being an outlier can make you rich
10. FIRE’D UP, BEING GRATEFUL AND HELPING OTHERS
Can FIRE help you live a longer than normal lifespan? It might just be a real possibility… https://t.co/eMrMHbEHhQ
— Mr. Tako (@MrTakoEscapes) November 8, 2017
If you have been reading any number of personal finance bloggers, then you will inevitable come across FIRE (financial independence, retire early).
Fore more on this topic, you can check out a ton of FIRE bloggers such as Root of Good, Early Retirement Extreme, Go Curry Cracker, just to name a few and there are so many more.
You can even read this post by me, Greenbacks Magnet called How do you play with FIRE?
YOU HAVE MY PERMISSION TO PLAY WITH FIRE
How do you FIRE? Basically, you work your butt off when you’re young, live on like 50% or less of your income and save and invest the rest. You have a better chance of achieving this if you can save and invest 50-70% of your income.
From what I have read, most aspire to FIRE with 25 times their income. Could be anywhere from $500,000 to $2.5 million. Then live off the interest.
However, whether or not you FIRE, you can help others. It can be done with money or time. Either way, with financial independence comes the ability to choose what you do, as you become the master of your time when you no longer have to punch a clock.
When is it time to leave your job and FIRE?
Ask yourself: Would you do this job for free?
You want to be able to do your passion right? Then, you have to make some changes. Leave the grind of the 9-to-5. Get out of the proverbial rat race. It all starts with what you earn and what you spend.
Financial freedom allows you to spend more time doing the things you want. You can spend more time with family, take more vacations, serve in the peace corps, help build homes for habitat for humanity, and the list goes on.
See my post Generosity can go a long way
Well, there you have it.
Hope you enjoyed this post, as much as I enjoyed writing it. It was nice to remember some of the things I’ve learned along the way on my own journey to wealth.
Good luck!