So you have been exploring the ever expanding web of the internet.
|Just exploring the ‘net|
Perhaps completely by random, or perhaps you are actively looking to spruce up your retirement savings, you stumble across the concepts of Financial Independence and Financial Freedom.
Finding the next super investment isn’t easy and not very likely. Every time you start to look into investing the sheer volume of information and underlying complexity can batter your enthusiasm. Far better to start with what you think you know… you. And with what you can start to control.
Chances are you will be spooging money all over the place like some cheap pornstar and uttering phrases like “It’s so hard to save” whilst eating an organic cookie in your SuperDry jumper and playing your Xbox One. Life sure is tough.
Step 2 – Understand your habits and re-wire your tiny brain
We shouldn’t feel constrained by some dictatorial budget every month. But by re-wiring your neurons you can start to make good decisions on auto pilot. Pretty soon you’ll be crying with laughter at super markets pathetic attempt to strip you of your cash as you have become a Thrift Warrior.
Remember. Convenience is over rated and so is following the herd.
But a few months aren’t going to hurt. Jumping into action before you are ready and then rotating through 10 different strategies before you settle on one that works for you will hurt. It’s tempting to do some research one evening and then fire all you money off to some actively managed fund because it has a graph that is trending upwards and Keith from www.SuperSweetStockTips.com says its going to triple in the next 3 hours. Relax. It’s just noise.
Read finance blogs, borrow a few books from a library (or buy books from an affiliate link on a helpful blog that you have read a lot, e.g. Monevator or RIT, to help support them) and listen to podcasts. Don’t take peoples word for things, research them yourself.
Do you want to actively manage you own individual stock holdings or employ a more passive strategy? What’s your risk profile and your expected asset allocation? What’s your expected investment horizon? Sort out the answers to these questions, and more, before you start investing and you will save yourself hassle and dealing fees in the long run.
Oh, and for Christ’s sake, develop yourself a slogan that you can mutter to yourself. Something like “Don’t be shit at life” or…
Spend Less, Save More and Escape the Horde