Did you regret spending all your hard-earned money on one weekend?
Did you buy something you regret buying?
Well, I did because I spent my money on alcoholic drinks at the bar. of course, I’m enjoying my early twenties with friends. I remember the day I drank so much that I vomited the alcohol I just drank that night.
So imagine vomiting $300 to 500 dollars in one night; I am sure many of you spend more than I did. But as a college student, I realize I am just throwing away my money, well, vomiting it.
What I did was I invested my money in Stocks, Mutual funds, and a CD account. I cut off all my friends who wanted to hang out every weekend and be miserable with their lives and with their fake fun. In reality, I wasted my savings hanging with them, where I could have saved my money and left the US or the state by the time I graduated.
Let’s calculate on a bi-weekly average on a so-called fun weekend.
$340 x 26 weeks = $9,100.00. That’s much vomiting.
The easiest way to save money is to waste less energy.
I stop buying into the hype just because people are buying them.
People buying new shoes, new cars, new phones, new computers, new tablets, and new houses.
I own a 2009 Toyota Prius and bought it used, and I rent an apartment or a room because I do not want to waste on buying a home or renting it out. I am always busy, and I do not have time to worry about getting a tenant or worry about property tax. Again this is just my opinion.
Creating an excel sheet, list the bills you are paying for such as subscriptions, insurances, groceries, eating out, cellphone, electricity, garbage, water, and many more. Once I finish listing all my negative cash flow, I check how much I make monthly my positive cash flow.
I started doing this when I noticed I was in debt and was dragged down by friends who don't pay my bills or rent, so I stop hanging out with them.
I don't live by that life where I scratch your back. You scratch yours. I save my positive cash flow by investing it in my 401k, stocks, CD, and other positive investment. If I learned this when I was younger, I could have retired early and permanently left the US.
Summing-up, save now, and have fun later.