Frankly, money is considered to be the root of all evil. Anyone who has a lot of money is capable of taking over the world – and ultimate destruction. This must be right. Or at least this is the perception of many. Without proper education and habit forming, money can leave your pockets faster than it’s created. How can you differentiate money as a useful tool, or a curse? Or will you get lost in the ever-flowing pursuit of money?
If you weren’t aware, we had a world-shattering pandemic break out in the unsuspecting year of 2020. Because of this, I looked around to many people losing their jobs, their income, and thus their livelihoods. Over the course of the last year, I have made it my mission to educate myself with every bit of financial knowledge I can uncover. Why you may ask? So that I can share this knowledge to as many people that are willing to listen to an insane person such as myself. Let me give you a quick run down of money and its infinite possibilities.
One of the golden rules of money is that you have to be intentional when utilizing it. The reality is that the moment most of us receive a paycheck, we have the urges to run out and spend it. We get this overwhelming dopamine rush from newly found money in our pocket – and instantly forget that bills and responsibilities are a thing. “I’ll pay those later,” you think as you quickly run out to the mall to grab the new Apple AirPod Pros (not a sponsor, although I will for some free earbuds) that just came out. I know we all work hard for our money, and you’re allowed to buy whatever you want. But let’s be real; you’ve already got wired earbuds and another cheap Bluetooth set of earbuds. Why do you need a third pair of audio listening devices?! You don’t. They’re just brand new – and heavily marketed to you in every way that you can possibly consume media. Blame the corporations. Marketing slammed in your face the entire day, until you can’t stop thinking about them. Oh, and every cool kid has them and you have to fit in.
Now, I know you think I’m just a grumpy old man sitting behind his computer complaining that you shouldn’t be spending your hard-earned money. Well no, not completely true. I’m only 25, and only considered old by the TikTok generation of kids. I’m arguing that you need to understand money. You’re working hard at your job for a paycheck, that you then want to turn around and put into the pockets of already-rich corporate jackpots. You need to educate yourself in the ways of money, so that you can start paying yourself back. Life Hack Logic here, ready to educate and inform – nice to meet you!
Next time you go to make a purchase on a consumer item (that you probably don’t need) consider something else. Why not put that $100 back into your savings account for the next time that you might have an emergency? Check your bank account – I bet you have monthly subscriptions that you don’t really use on a consistent basis. We all do, admit it that you can’t possibly keep up with Netflix, Disney, Hulu, and Amazon Prime all at once. Cancel a few of them – add this money together and now you have a nice contribution to your 401k or retirement account. Instead of handing your hard-earned paycheck away to greedy corporations, meet with an investing professional and educate yourself on the stock market, retirement, and finances. You work extremely hard for your money, so it’s finally time to pay yourself back! You deserve to have money on the side in the case of an emergency. You ought to be able to retire when you get into your elderly years. Also PSA, if you’re one of those people who thinks “Oh, I won’t make it to retirement age anyway… why invest?” Well, I’d ask you to make some healthier life decisions, and go read my other blog “Let’s Compound Some Interest (ASAP)” found here:
https://lifehacklogic.com/2021/11/22/lets-compound-some-interest-asap/
You’d be surprised how much money you can end up with when you put your money to work and let the immense power of compound interest takes effect. Right now, the banks and credit card companies are earning consistent income from your interest payments every month. Why not flip the script and let yourself use this money in the terms of the stock market, or 401k? The future can be determined by what’s in your pocket.
No Place Like Gone 