What is one personal finance habit that has changed your life?
I’ve noticed different people have different ways to approach their financial planning. Hoping to learn from each other and perhaps help others who read as well.
Isaiah Nadeen
Stealth
6 months ago
If you 'want' to buy something, wait day or two (I wait a week) to know if my heart is still stuck at it. Generally (mostly) it is fleeting craving and I end up not buying.
This has kept my expenses very minimum
What if the thought comes back after a few weeks again. And you feel it in your stomach all day.
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The thought process was simple: if the same amount of calories can't be lost with a tap on the screen, or the money can't be earned with a similar effort immediately, it shouldn't be so accessible to me.
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Kendall Dean
Stealth
6 months ago
Following income - savings = expenses rather than income - expenses = savings
Monthly Fixed expenses are known before hand so that is already factored to arrive at the savings and what needs to kept aside for expenses
SIPs
Just made sure it was at least 30% of my salary from the first month when I started earning. 6-7 years later, this has paid off too well.
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And also, spend on things when you want to. I don't make money to be a miser.
In my 20s I'm not gonna save for my 30s. Because I know I'm not making even 20% of what I'll make in my 30s and 40s, no point overthinking rn
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