What To Do With The Money You Earn?

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For years I nurtured a belief that whatever I earn, it needs to be spent. In my naivety,
I never thought that I should have invested the surplus, instead of consuming the
moment it arrived in my bank account. I often wondered what I was going to buy
with the extra money that was coming my way. For years I also thought I was
investing by dumping unlimited amounts into projects that were wrong for me and
couldn’t possibly work out.

Photo by Joshua Hoehne on Unsplash

For years I nurtured a belief that whatever I earn, it needs to be spent. In my naivety,
I never thought that I should have invested the surplus, instead of consuming the
moment it arrived in my bank account. I often wondered what I was going to buy
with the extra money that was coming my way. For years I also thought I was
investing by dumping unlimited amounts into projects that were wrong for me and
couldn’t possibly work out.
The people I surrounded myself with didn’t help. Most of them were spenders. I
don’t remember anyone ever talking about investments or early retirement, not to
mention having a stash or paying off your mortgage before your death.
So, in my blissful unawareness, I kept on working and spending. However, now and
then, I had a nagging feeling that this kind of life is pointless. Unfortunately, my
doubts were quickly dismissed by reassuring “friends” that this is the way life is, and
unless you are a multi-millionaire, your faith is doomed.
I got caught up in a circle of earning and spending for years. I couldn’t find direction,
and I’m not going to lie to you it was pretty depressing to work only to consume.
That kind of life didn’t sit well with me, but at the same time, I didn’t see an
alternative.
I often visualized all the spending I would have to do once I finally “made it” in my
creative industry, and each time this visualization filled me with fear. Now I realize
that this anxiety was driven by my desire not to be a consumer only. I always wanted
to add value to the world. Hence I chose to become a storyteller. But my consumer-driven visualization was at odds with my core values and simply could never
manifest, because deep down I didn’t want it to manifest.
In short, I knew how to earn money, but I didn’t know what to do with it once I had
it, without spending every single penny.
You might ask why I didn’t think about investments and investing; well, I knew that
people invested money in companies, read all ”the right” books, and listened to
Warren Buffet, but on the practical level I had no clue what to do. Besides, the idea
of going and buying shares in companies I knew nothing or little about filled me with
fear. I didn’t have enough time to learn everything about all those companies I was
supposed to invest in, and I’m one of those people, who needs to know before
making a decision. So stock investing was out of the question for me. It seemed too
complicated and too unattainable.
Seeing no point in earning just to spend and being incapable to invest in stocks,
mechanism of which is way easier than buying and managing a property, I
sleepwalked my 30’s and only slowly started awakening when I was pregnant with
my daughter. But it wasn’t really until the first national lockdown (March 2020)
when my life-money perception started dramatically shifting.
If I had known all that I do now ten, fifteen years ago, I would have been financially
free by now. Financial freedom is something I’ve always aspired
to when I talked about having freedom. Unfortunately, I’m not financially free. I
made lots of mistakes that pushed me in the opposite direction to financial freedom,
so I have to catch up. I just hope I still have enough time to mend my ways.


Once you start earning money, don’t feel trapped and bullied into spending it. There
are many ways you could enjoy the fruits of your labour, without excessive
consumption and debts piling up.
So, below are just a few ideas on what to do with your money:

  1. Work on your six months’ emergency stash, which will help you get rid of lots
    of stress and pressure that has unknowingly been accumulating in your life.
  2. I have a separate account set up for holidays, and every month I allocate 10%
    of my paycheck to that. If there is something that you value in your life and
    cannot live without, set up a separate account for that activity and allocate
    monthly transfer to that account.
  3. I invest 20% of my monthly paycheck. At the moment, this is as far as I can
    stretch, but hopefully, I’ll be able to increase that amount soon.
  4. Cut down on your expenses, and don’t spend money on stupid stuff you
    don’t need. We all require very little to lead a happy, full life.
  5. Automate your investments and savings and forget about it. Deal with what
    you have left, once those deductions are taken.
  1. 6. If you want to learn and understand financing and financial independence, I
    would suggest you jump over to JL Collins blog, even
    7. Mr School Runs got on board with what JL Collins says, suggests and advises.
    Mr School Runs is very sceptical about financial bloggers.
  1. 8. Be on board with your core beliefs, your understanding of the world and your
    visualizations. If there is a disconnection between any of that, your life may
    be an uphill struggle.

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