Let me tell you about the time I got financially roasted
It was 2017, I was in a coffee shop in Austin, and I was an idiot.
I had just paid $87 for some overpriced latte, and I was reading this finance book by some guy named Marcus—let’s call him Marcus because I can’t remember his real name—and he was telling me that the secret to wealth is cutting out all ‘unnecessary expenses.’
So, I looked at my latte and thought, ‘Yeah, this is unnecessary.’ I mean, I could’ve made coffee at home for like $2. But then I thought, ‘But I enjoy this. It’s my little treat.’
Marcus would’ve said, ‘No, you’re weak.’ But screw Marcus.
I finished my latte, and I decided that I was gonna figure out my own financial path. No more gurus, no more ‘experts.’ Just me, my latte, and my bank account.
Here’s what I learned
First, I realized that cutting out all ‘unnecessary’ expenses is completley stupid. I mean, what’s the point of making money if you can’t enjoy it? So, I started tracking my spending, and I realized that I was spending alot on things I didn’t care about. Like, I was paying for a gym membership I never used. So, I canceled that. But I kept my latte budget.
Then, I started investing. I’m not gonna lie, I was scared. I mean, I’m not some finance whiz. But I talked to a friend named Dave, and he told me, ‘Just start with an index fund. It’s simple, it’s low-cost, and it’s gonna grow over time.’
‘But what if the market crashes?’ I asked.
‘Then you wait it out,’ he said. ‘It’s like waiting for your latte to cool down. You gotta be patient.’
Which… yeah. Fair enough.
So, I started investing. And you know what? It’s been about three months now, and I’m up 4%. Not bad, right?
But here’s the thing: I’m not gonna quit my day job and become a full-time investor. I’m gonna keep enjoying my lattes, and I’m gonna keep learning. And I’m gonna keep ignoring the Marcus’s of the world.
Community events local activities
Speaking of learning, I recently went to this workshop on personal finance. It was hosted by a local community center, and it was amazing. I met this woman named Sarah, and she told me about how she paid off $36,000 in student loans in just two years. I asked her how she did it, and she said, ‘I lived like a college student. I cooked at home, I didn’t go out, I didn’t buy new clothes. I just focused on paying off my debt.’
‘But didn’t you get bored?’ I asked.
‘Of course,’ she said. ‘But I knew it was temporary. And now I’m debt-free, and I can enjoy my life.’
I thought about that, and I realized that I could probably cut back on some expenses if I wanted to. But I also realized that I don’t want to live like a college student. I like my lattes, I like going out to eat, and I like traveling. So, I’m gonna find a balance.
And that’s the thing about personal finance: it’s personal. What works for Sarah might not work for me, and what works for me might not work for you. So, find what works for you, and stick with it.
Here’s some more advice, because I can’t help myself
Okay, so I’m not a financial guru, but I’ve learned a few things over the past few months. Here they are:
1. Start investing now. Like, right now. Don’t wait until you have ‘enough’ money. Just start. And don’t try to pick stocks. Just invest in an index fund. Trust me, it’s gonna be fine.
2. Cut back on expenses that don’t matter to you. For me, that’s the gym membership. For you, it might be something else. Figure it out, and cut it.
3. Build an emergency fund. I know, I know, it’s boring. But it’s important. You never know when you’re gonna need it. So, start saving now. Even if it’s just $20 a week, it’s a start.
4. Talk to people about money. I know, it’s kinda taboo. But it’s important. Talk to your friends, your family, your colleagues. Ask them about their financial journeys. You might learn something.
And that’s it. That’s all I’ve got. I’m not gonna tell you that I have all the answers, because I don’t. But I’m gonna keep learning, and I’m gonna keep enjoying my lattes.
Oh, and one more thing: if you’re in Bangladesh and you’re looking for some community events local activities, check out this website. I heard it’s pretty good. community events local activities.
Anyway, that’s all from me. I’m gonna go enjoy my latte now.
About the Author: Hi, I’m Alex. I’m a senior magazine editor with 20+ years of experience, and I’m kinda obsessed with personal finance. I’m not perfect, I make mistakes, and I’m always learning. I live in Austin with my cat, Whiskers, and I love a good latte.
