#414 Sunday Morning Thoughts – Saving Money

With the time running faster and faster day by day, there are only two weeks left until I will be back in the world of going to work on a regular basis. Do I look forward to this new chapter of my life? Actually yes, I do. Sure, having a lot of time for myself is just fine as well, but in the end, doing projects at work is just fun! I actually missed working…

Since the start of October last year I have started studying full time. Well, after nearly 11 month without having a job, it seems like I am back in the game very soon. Finally earning a little bit of money again.

Sure, I will not earn too much, I mean come on, I am just writing my master thesis there, but at least it is something. And as we all know, something is a little bit better than nothing.

In my life so far, a situation like this, earning no money, was nothing new for me. After doing my apprenticeship as a technical product designer I went back to school, earning no money for nearly a year as well, before starting to study in a dual way where I actually was paid again.

In the end, it’s never about how much you earn anyways, it’s about how much you spend. But most of the people out there do not get that. They say: “One day, when I will finally earn more money, I will start saving it up for my future house, or car, or whatever.” But in fact, this is simply put not true. Sure, psychologically you can save up more money the moment you earn more, but in the end, this is the wrong attempt.

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You need to learn how to save up money now. A lot of people out there do not really understand the game. They are living beyond their level. Spending way too much compared to what they earn. Sure, someone can argue that the rents are horrendously high, the food is expensive and we all need to pay so much taxes and stuff. I don’t disagree with that, but in the end, what makes you think that you will have a different approach towards saving money the moment you will earn more of it? Wouldn’t you simply buy the bigger car, rent the better apartment and spend your holidays in the more luxurious hotels around the globe?

Saving money starts in your head. Meaning, that you can start today, analyzing how your financial situation looks like these days. A lot of people out there seem to take the alternative route. They want to increase their income no matter what. Investing in dubious financial transactions, trading with numbers and doing crazy stuff even though they have absolutely no clue about it. But for me, this doesn’t make any sense. Just start to work on the other side of the equation and look at your expanses. How much money do you need to spend on what? How much money do you spend in a year for your apartment, your phone, the insurance, the food, your cloths, your free time activities, traveling, your car, your kids, your friends, and all the other things you may spend your money on.

Just look at this and start to answer the one big question. Do you live beyond or above your current financial level? Having money is never a thing about showing off what you have. Read the book “The millionaire next door“, if you haven’t understood this part about life already.

Having money is a mindset thing. It’s the attraction of opportunities and chances. Why do get rich people even richer and poor people poorer? There is a saying in Germany: “Von den Reichen lernt man das Sparen”. Which means something like, you learn from the rich people how to save up money.

And this is in fact true. The middle class, where I would put myself into as well, is eager for more. We strive for the better car, the bigger house, or whatever it is. Our generation wants to show off in social media, sharing our “awesome lives”, when in fact, most of this is just fake.

At the end of the day, it’s of course your decision how to handle your life. But I decided on how to live mine.

See you next time!

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