More money facts I wish I knew sooner
Oct 8, 2013 / 5:00 am
6. Be the best at what you do no matter what you do.
Younger me went through a lot of crappy jobs. I washed cars for living, cooked burgers, delivered Yellow Pages, and cleaned houses. Not exactly dream jobs – and keeping this in mind, I didn’t try to be anything above average. ” – Why bother?”, I thought. “- When I get that cowboy-astronaut-millionaire job, I’ll be an absolute rockstar! But this job is just for getting by at the moment, no need to show off.”
Now I see how wrong I was. If you work like a lazy sloth (and sloths are pretty lazy since they sleep up to 18 hours a day), nobody will ever offer you that dream job. Be awesome at what you do – even if it’s flipping burgers or waiting tables. The next customer you wait on might end up leaving his business card asking to call him for an exciting position – after you blow him/her away with your people skills. Only the best people get noticed – because they stand out.
7. Rainy day is coming.
Ever heard of the infamous “rainy day”? It’s coming. Be prepared for it – have insurance in place, have an emergency fund set aside, have wiggle room with your money. While some people might say, “You have to stay positive!” I can positively say the rainy day will come.
8. Spending leads to more spending.
There’s nothing wrong with owning nice things! But you have to look at how they affect your money beyond just one purchase. Big houses usually come with higher property tax bills, higher utilities, and more time wasted on cleaning it (or money spent on cleaners). Luxury cars feel great, but most require premium gas (expensive!) and higher insurance premiums (expensive!). Your new TV will require gold-plated audio cables – or at least that’s what the sales guy will suggest. Even a cute puppy comes with an array of expenses – no matter how cute it is.
9. Humans are creatures of habit.
Habits will play a huge role in your life. Most of the things you do are very habitual – from food you eat to the way you dress. For example, I’ve had the same thing for breakfast for the last few years – oatmeal with raisins or fresh fruit. I can almost make it blindfolded – but don’t do it fearing my wife will make me clean the kitchen!
While some habits are harmless and won’t affect your life, some habits can be absolutely devastating to your finances or life in general. Habitual smoking or gambling comes to mind right away. At the same time, you can pick up some good habits that will benefit you along the way – preparing a monthly budget or making your own morning coffee will make it feel like you’ve had a raise.
10. Be aware of small expenses and fees.
Small expenses add up over time. An occasional late payment on your Visa card translates into few hundred dollars paid to the bank over a year. Satellite radio – which you haven’t used since you bought your new car – only costs few dollars a month, but once again adds up to a substantial amount of money. ATM fees, morning coffees, iTunes purchases, online games, etc. all cost very little and something along, “Oh well, it’s just 99 cents!” passes through your mind when you buy them. But feel free to add them all together and look at how much money is leaving your wallet. Death by a thousand cuts, eh?
I hope you enjoy my column. If you would like to comment on this or tell me how wrong I am, please visit http://moneyramblings.com/ten-facts-about-money/. Also, let’s chat on twitter: https://twitter.com/MoneyRamblings
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- Living long enough Oct 29
- Canadian banknotes are fascinating! Oct 22
- What happens if mortgage rates double? Oct 15
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