The Young Professionals Guide to Financial Adulting

Ugh, adulting. /ādülting/ [Urban dictionary] to do grown up things and hold responsibilities such as, a 9-5 job, a mortgage/rent, a car payment, or anything else that makes one think of grown ups.
Adulting is that one thing we are all starting to do but no one really likes it or talks about much about it. Well guess who’s here to address the elephant in the room?
 

How To: Make Your Income Last Longer

Have you ever gotten to the 10th or 15th day of the month and wondered where all your income you just got went to? We’ve all been there. It’s the last day or last Friday of the month and it’s payday #woohoo! The bad news is by Sunday you’ve spent a good proportion of that money and by the following Sunday you’re stuck. You should have more money, but you don’t. And you still have bills to pay mid month. You also need to travel to go see your parents. Or maybe not? So what do you do? How do you make your money go further?

Here are two things you can try to make your income last longer. Choose what works for you and stick to it as far as you can.

Saving VS Investing

Staying put is easy and safe, going into uncharted territory is risky.

At some point or the other, either we were told to, or we sort of figured it out on our own, or maybe even your friends told you – someway, somehow, you started saving.

It wasn’t too hard – you just take some money and put it somewhere that your everyday cash is not. It was really that simple.

Do this for a few weeks, months and years and you may think that’s all there is to succeed in your financial life. What you would soon come to know, is that, on it’s own saving is never enough.

Or as I say, you cannot save your way to financial freedom.

Life Goals

In life, there will be many wins, and likewise many L’s. The journey to financial freedom, will cause you to laugh, cry, and be thankful about your many blessings. Most of all, you will watch yourself grow and blossom and start to see that, really money was never the goal. You made the sacrifices for your kids, for the health of your parents, so you could see your loved ones smile again.
You kept pushing to hit those goals, not because it was easy or because life dealt with you nicer, but because you saw life beyond the money.

If you had all the money you’ve ever wanted, what would you do differently? How would you live your life?

Setting SMART Goals

It’s time to make SMART goals. Where do you want to be in 5 years? How about in 2? This year maybe?

We all have goals and dreams. We have things we want to do, places we want to visit and things we’d like to accomplish. However sweet our plans seem, they are nothing without actions. We all want to wake up in 5 years in our dream homes with our dream cars etc. That’s all well and good. Except from the part where we’re not changing our actions to reflect that lifestyle. We are acutely aware that our choices today determine our tomorrow. Why then do we stay doing wishful thinking instead of actively working on those goals? Nothing ever came to those who slept and dreamt sweet dreams.

 ‘Start doing and stop ‘dreaming’.

Cryptocurrency: Who, Where and How?

Cryptocurrency is the hot topic at the moment and what everyone wants to know is “should it be in my portfolio and how can I get my hands on them?”. I had a Q&A with one of my good friends and a young investor I admire, Olamide. I asked the questions and he gave me his very honest answers.

[PS, If you haven’t read my Introduction to Cryptocurrency Part 1, you can do so here.]

It was quite enlightening and I hope you enjoy!

1. What is your knowledge of cryptocurrency – how did you first hear about it and why did you think/ are you thinking to invest in it?

I would say I have a more than basic but less than expert knowledge of cryptocurrency. I first heard about it in June of 2017 through an American mentor I was speaking with about markets at the time.Back then I had very limited knowledge and invested quite a bit of money into Ripple, only to withdraw it all only the next day because of anxiety and constantly looking at the chart.


2. You’ve seen all that happened towards the end of last year to Bitcoin and the sudden interest in it, does that scare or overwhelm you as an investor? If so why, if not, why not?

New Year, New Money? All your cryptocurrency Q’s answered!

HAPPY NEW YEAR #SaveSpendInvestors! I hope everyone had the best break and is ready to take on 2018 in full financial force.
So, it’s 2018 and the question on everyone’s mind is ‘what is cryptocurrency / bitcoin, and is it worth investing in?’
Well, I’m no expert and cannot answer all the questions but I will share what I have learnt so far from doing some research. This is my objective analysis and so have comments for and against cryptocurrency.

First of all, what is Cryptocurrency?

2017 In Review & A Special Thank You

As my last post of the year 2017, I thought I’d use the opportunity to say a massive thank you to you.

For all your love and support, thank you

For the feedback and constructive criticisms, thank you

For the likes, comments, shares and subscriptions, thank you

For being patient and kind with your words, thank you

 

I appreciate every single email, comment, like and share and I do not take it for granted. So, to end the year, I thought I’d share some of the top 3 lessons I learnt during the year:

Your SALARY vs Your INCOME

Do you know the difference between your salary and your income?

I didn’t.
Some people equate how much they ‘earn’  i.e their salary,  to how much they get ‘paid’. I used to think that too when I started university. You get income from your salary when you get a job. So the plan was work hard to get a good job so you get a good salary and therefore a good income. Right? Hm, maybe. But as I got to my second year and I started making ‘income’ even though it was not my ‘salary’, I started to think a little different.
You see, your salary and income aren’t the same thing. Your salary can be your primary source of income, and indeed is a good chunk of a lot of people’s income. But it is not necessarily your only income. So many people have made it to the their financial goals without being on a ‘salary’. The idea is that they created multiple streams of income.
Your job holds the keys to your salary. They give you a figure and tell you that’s what you get paid for working for them. That’s fair enough – they’re in control. YOUR job, is to be in control of your income. Note the difference. Your income is not limited to your salary.

3 Money Tips for Christmas Shopping

Ah Christmas, everyone’s favourite time of the year. Lots of family around, watching Home Alone and singing all our favourite Bublé songs.

We all love Christmas and look forward to spending time with family, friends and loved ones. But whilst it’s one of the highlights of the year to look forward to, for some, it can really put a dent in our pockets.

We don’t really think about it, it just ‘happens’, and let’s not talk about how January then tends to drag on. We need to be mindful of the fact that ’tis the season to be jolly, also means ’tis the season for money to leave your wallets. Some people call it a financial hangover, yikes!

There are so many Christmas jumpers I have bought and received over the years, most of which are somewhere, somewhere, deep into my closet. Or a suitcase. Or in storage. This year, I’m making a conscious effort to say No to the things that only make me feel good in the moment. Instead I’m saying Yes to things that will leave me happy come this time next year.