Mustachian Financial Lifestyle
I thought I was pretty much on top of my financial situation. I was saving a bit, giving some, tithing is a given and I was getting by, paycheck to paycheck. The last is pretty much a bad thing. Two other things also served as my wake up call. I started truly having a budget book last month where I painstakingly listed all my expenses in different areas like Daily (Food, Laundry, Other Stuff), Car, School, Card Payments, Travel, etc. Due to some recent happenings at work, the other thing was getting in the dirt: outlining ALL my debts including the salary deductible (salary eating monsters I might say). It was some scary stuff.
I had to get over my denial and see the real picture. Needless to say that it was a revelation. I might share it someday if I had the courage to. And after some modifications in my lifestyle and my spending. Haha.
I just find it appalling though that a lot of wage earners regardless of age are living this way. And I do believe that it is not limited to the sector where I'm working in right now. Nah uh. Credit card companies are knocking on the door. (It's easier for them right now because of the summary proceedings in Small Claims). Salary loans stretching to a decade. Even if mine doesn't , and praying that it never will, the thought that I had to work for at least two years to even taste freedom scares me. For me, that's a form of (almost) involuntary servitude. The inflexibility is stifling. It's no wonder then that a small but gaining percentage of my generation is breaking free from the employee mold and going freelance. Or full time in whatever calling they have, mission included.
In my online financial journey, I read Mr. Money Mustache and while I find some of his ideas hard to swallow and not very applicable locally, the kind of lifestyle* he lives (the abstemious yet still fulfilling part) is pretty much what I'm trying to achieve. It sounded simple on theory but in practice. Aargh. A lot of trimmings have to be done. Some of his tips are:
1. Save half of your salary.
2. Pump up your sources of passive income.
3. Live near your workplace. Cut commute time.
4. Pay off ALL debts starting from the one with the highest interest.
5. Minimize fixed expenses.
6. Exercise. Bike. Don't watch TV. Stop the consumerism trap.
His bit in fact sounds quite elementary and maybe even rehashed. But it is valid in all points. On the biblical perspective, we don't own our time, our resources, our energy, so wasting it wouldn't only make us miserable but even accountable to our Maker.
The wisest man who lived on earth has a lot to say about money too:
It is well with the man who deals generously and lends, who conducts his affairs with justice.
He who is faithful in a very little thing is faithful also in much; and he who is unrighteous in a very little thing is unrighteous also in much.
I'll be sharing more verses and more updates on this aspect next time. God is the giver of everything and we are to be good stewards of what He has given us. Feel free to share your thoughts and tips on financial management!
*his finance tips are the only stuff I like to read. I do not advocate any other questionable habits he has. And should I find anything that is against my beliefs and principles, I would get off reading his blog.
I had to get over my denial and see the real picture. Needless to say that it was a revelation. I might share it someday if I had the courage to. And after some modifications in my lifestyle and my spending. Haha.
I just find it appalling though that a lot of wage earners regardless of age are living this way. And I do believe that it is not limited to the sector where I'm working in right now. Nah uh. Credit card companies are knocking on the door. (It's easier for them right now because of the summary proceedings in Small Claims). Salary loans stretching to a decade. Even if mine doesn't , and praying that it never will, the thought that I had to work for at least two years to even taste freedom scares me. For me, that's a form of (almost) involuntary servitude. The inflexibility is stifling. It's no wonder then that a small but gaining percentage of my generation is breaking free from the employee mold and going freelance. Or full time in whatever calling they have, mission included.
In my online financial journey, I read Mr. Money Mustache and while I find some of his ideas hard to swallow and not very applicable locally, the kind of lifestyle* he lives (the abstemious yet still fulfilling part) is pretty much what I'm trying to achieve. It sounded simple on theory but in practice. Aargh. A lot of trimmings have to be done. Some of his tips are:
1. Save half of your salary.
2. Pump up your sources of passive income.
3. Live near your workplace. Cut commute time.
4. Pay off ALL debts starting from the one with the highest interest.
5. Minimize fixed expenses.
6. Exercise. Bike. Don't watch TV. Stop the consumerism trap.
His bit in fact sounds quite elementary and maybe even rehashed. But it is valid in all points. On the biblical perspective, we don't own our time, our resources, our energy, so wasting it wouldn't only make us miserable but even accountable to our Maker.
The wisest man who lived on earth has a lot to say about money too:
1. Be like the ant. You won't go hungry.
Proverbs 6:6-8
Go to the ant, sluggard; consider her ways and be wise; who having no guide, overseer, or ruler, provides her food in the summer and gathers her food in the harvest.2. Be honest in all your dealings.
Psalm 112:5It is well with the man who deals generously and lends, who conducts his affairs with justice.
3. Use your money wisely.
Luke 16:10He who is faithful in a very little thing is faithful also in much; and he who is unrighteous in a very little thing is unrighteous also in much.
4. And don't panic! He will supply your needs.
Philippians 4:19.I'll be sharing more verses and more updates on this aspect next time. God is the giver of everything and we are to be good stewards of what He has given us. Feel free to share your thoughts and tips on financial management!
*his finance tips are the only stuff I like to read. I do not advocate any other questionable habits he has. And should I find anything that is against my beliefs and principles, I would get off reading his blog.
Comments
Post a Comment