Tuesday, January 18, 2022

Put half of your surplus after every month into a separate savings account

 Recently, I wrote a blog post about how we really don't need to be knee deep in a 9-5 job if we don't want to be. We do it because society says we have to. 

My first step was "Step 1 - Put half of your surplus after every month into a separate savings account.

So, when your first 18, this might entail you getting a job but remember, the goal eventually is to find a side hustle that can make you money when you don't have your money.

Two possible worst case secnario's that might come up.

1. Parents insist that you head to University and that might delay the side hustle

2. Your parents don't have the money to keep you at home and your forced to move out and fend for yourself.

For the first point: This option isn't all bad. However, if they are paying for college, that means they can tell you to not drop out. It's also hard to feel financially free if they are helping you out.

This will pass eventually. It does suck at the time especially when you see classmates get to do fun things like drop out and get jobs elsewhere. Remember though that the parents are doing this because they care.

Option two. No one wants this option but this might end up being a sling shot if you are able to set yourself up successfully.

If you turned 18 and were kicked out with only $20 in your pocket, I believe that there are organisations that can help. This is why most foster children can't get kicked out until 19.

The point is, put your your money aside. Even if it's just $100 in 20 years it will add up.

If your in a deficit than ask yourself why. Some reasons are worth it like having a kid.

I would say the key part to getting yourself set up yourself is being as flexible as possible. I'll touch on this in other steps.

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