How do we accumulate wealth? Not just money.
With money, we can create more money. That's what your bank does, they earn interest with your money. Having money invested and automated, we create wealth. So we can sit back a bit in the future.
I want to focus this year on:
Understand investing, bonds, assets, index funds, etc.
- So I can earn money with the money invested
Automate my money
- Create a financial reserve of 3-6 months to live on
- Automatically pay off debts
- Money on the bank does not generate money any more. Interest rates are at it's lowest.
- Because I never think of manually paying off debts (and neither do you)
- Have less stress about money.
Learn to sell by value instead of an hourly wage.
- I want to increase my earnings this way, even though I earn quite well hourly, it's always limited
Spending less is another wise option.
And I'm quite proud of how I cut most of my costs:
- I rent out my expensive apartment in the Netherlands
- I live in cheaper countries - accumulating experiences while being able to work
- I never eat out (except in Asia)
- I workout by myself, no expensive gym subscriptions
- My clothes and other possessions are bought with minimalism in my mind. Not Fashion or short-term, but long-lasting possessions.
This way I've been able to cover costs of 2 people, travelling and living together for about 15k per year, the last 2 years. This includes travelling to over 10 countries (see my Nomadlist profile for proof), writing a book, satiating my creative lusts