Can you believe it’s already December?! I don’t want a lot for Christmas. There’s just one thing I need. I need to know how I’ve done this year! It’s the season for celebrating with family, drinking a little eggnog, and for going over how I did financially. I’ve been working at my job for 5 months now, longer than any employer I’ve ever worked for (full-time, at least). With the 40 hours a week that I invest in my employer, I want to see some returns and have something to show for it. I want it to contribute to the thousand mile journey of becoming a millionaire. .
The United States has a wealth inequality problem. It’s not a secret. Wealth inequality exists because of the way capitalism is designed to be. In economic theory, employers will never hire if the employee costs more than he or she benefits the company. If the person generates 5 units of value (arbitrary number) then the employer will only pay at most 4 units of wages. When there’s a huge disconnect between those values, an employee either has leverage to negotiate a higher pay or will get fired. The bottom line is that the employer HAS to benefit.
Thanksgiving has come and gone (at least, if you’re living in the United States). After every Thanksgiving holiday, we seem to have less money than when the holiday started. Spending time with family and friends is a wonderful time. Now it’s time to see how you did financially and whether you’ve done better than the average family in the U.S.
Everybody has an invisible employee. Some seem to have more invisible employees than others, but the great thing is, everyone has them. This particular employee doesn’t have any feelings to consider for, will never complain, and you legally control it like a slave. What employee am I talking about? Time.
As I mentioned in my last post, I’ve traveled from Alabama back to my home state of Texas. With that travel came with 10 hours driving on the highway. I’ve noticed a few peculiarities during my road trip that is very transferable to personal finance and getting ahead in life.
First, I want to apologize. I haven’t had enough free time to devote to blogging this past week because I moved from Alabama back to the good old state of Texas. I’m almost settled in to the new city so I will have time to up my time to blogging more. I will never quit or stop blogging so do not worry about that! A lot of things happened in the past week (ahem, Trump) and I have a few opinions about Trump’s rise to presidency.
Back when I was living the student life, I wondered if having no cars, eating the cheapest meal, or occasionally refraining from the nightlife would ever pay off. Long story short, it did. I’m so glad that I went through it all because it’s set me up to not live like a student currently. Building a good enough nest egg during college took money stress out of my life. I don’t have to worry about repaying student loans, car loans, or credit card loans. If someone hasn’t gone through living like a true student yet, I highly recommend it, because it just might set you up for life, financially.
Money mistakes are everywhere. What’s worse is that avoidable ones exist. I’ve made countless avoidable money mistakes in the past and will continue to make mistakes in the future. However, I’ve been able to fix some of the habits after going back and analyzing my spending behavior. I’ve found some common ones that I used to make and some that I’ve seen people do. I’ve highlighted some of them below that can be fixed just by doing something differently. One avoidable money mistake snowballs into bigger ones down the road so it’s better to fix them right away!