I am one of those guys who live on the quote, “we usually save money to waste it.” This quote is the root cause of all the poor financial decisions in my life. Actually, poor financial decisions are just the tip of the iceberg, I have entered into unnecessary debts and threats because of this quote. I am glad I am changing my ways bit by bit. We all have a money story, well stay put; this is one for the books.
It’s funny how I always have stories to give after messing up, being penniless, and full of regrets. Don’t be fooled, I am usually different on my payday; morals are out of the window, and all lessons are forgotten and ready to spend on my fantasies. This kind of lifestyle will have you being broke barely 10 days into the month and then surviving on loans for the next twenty days. When you are paid you start by paying your creditors then live life large on what’s remaining on your plate.
Seems awkward but this is normal, 40% of those reading this, lead such a life. I call it Living Dangerously. Well, I am experienced and used to it; I even reached a point in my life that I took nothing seriously, life was all easy peasy, a day at a time, no pressure in Kenya they refer to this as Vibes and Inshallah, meaning you just live in the moment today, full of vibes and hope for the best outcomes tomorrow.
Let me just narrate what a typical month in my life looks like: As soon as I get paid, my mind, body, and morals sync with my wallet. It’s as if they all decide, and come up with a plan; BAD DECISIONS written all over it. If my basic spending is 30$ — 50$ a day, this shoots to 100$ — 150$. I even start carrying myself as a young tycoon, getting into certain moods that even despise the disciplined me because, with money in hand, I just realize how much I have been missing.
I am the type of guy who will get paid today and come back to my crib a week later. Why is this? I have been partying and keeping in touch with my supposedly rich pals, trying to prove to women that we are filthy rich. This is stupid because I don’t think the rich frequent clubs and bars as much as the middle class. This is all a poor man’s mentality because we try to fit into a certain class.
I will not think of saving my money, won’t think of making any investment, won’t even think of upgrading my tools of work, or even buying an asset. All these ideas find their way to my brain after my pockets run dry. This is my past life; don’t be like me.
One thing that makes me make such poor decisions is the nature of my work; I am in the freelancing sector. This means that my earnings are determined by the level of input so there are times I earn good and other times I earn almost nothing. This gives me the thought that I have handled lots of money and more is coming so I can waste this chunk that I have right now since I will make more, and the cycle continues. This is not the way to live. What I realized, is that I can joke all my life and die feeling miserable, the same way we procrastinate success in our lives.
I began changing my ways bit by bit and all I can say is I am better now. I have managed to cut down my monthly expenses, quit alcohol; 7 weeks of sobriety. I found out that I even have more time to focus on my craft and build wealth since I invest all my time in bettering my skill. I even plan on joining the gym.
Do you think you are living beyond your means? Or wasting money on unnecessary thrills and adventures? Here is a simple checklist.
- You frequently touch your savings after using up all your funds.
- You frequently waste money on pleasure.
- Your saving habit has deteriorated and can’t even save a thing.
- You tend to use your credit cards more than debit cards.
All in all, be disciplined and make sober financial decisions because in the current era we live in, anything might happen and you either lose your job or the world is hit by a pandemic like Covid-19 and we are all forced to live off our savings. But above all never fear starting a business and investing in your skill and tools of work; it’s better to be called stingy instead of having the chrematophobia condition.
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This post was previously published on medium.com.
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Photo credit:Pepi Stojanovski on Unsplash
