Hi Hiver friends,
I've been thinking a lot about personal finance and early retirement lately. I've made an investment plan, but I realized that I don't even have an emergency fund for myself and my family. This was a wake-up call for me, so I started learning more about personal finance management.
I recently watched a YouTube video that talked about the four steps of the money circle in your life
- Earn your money
- Keep your money
- Grow your money
- And enjoy your money.
The video mentioned how important it is to enjoy his money by taking a trip to Europe after 14 years of non-stop working. The speaker emphasized that enjoying your money is a time to refresh yourself, recharge your energy, and come back to work with a renewed sense of purpose.
However, what really struck me about the video was the three words "keep your money." It was like a slap in the face, because I realized that I don't have an emergency fund because I don't know how to keep my money.
I started taking a closer look at my finances and took some actions:
- Analyze my money. I've been tracking my expenses and incomes for three years, but I've never analyzed the data to see where my money is going. I was shocked to see how much I was spending on unnecessary things.
- Reduce my expenses where possible. After analyzing my spending, I identified areas where I could cut back. I'm not going to sacrifice my living standard, but I can still reduce my expenses by using vouchers and discounts, and DIY (do it yourself). I still go to cinema 🎦 to watch "Mission Impossible - Dead Reckoning Part 1" with my wife with half of price when I watched it on the weekday instead of weekend.
- The more money I can keep, the more I can grow my Emergency funds
I'm still on my journey to financial freedom, but I'm making progress. I'm excited to see where my journey takes me.
Thanks for reading!
Posted Using LeoFinance Alpha
