All the things I spend money on in a year. Total 26,477€
The moment of truth.
You know, I thought I won't do this this year. For a while I thought I had saved myself from doing this because I decided not to follow my expenses monthly last year. But then I looked into Tink, and got a little carried away.
By authenticating through Tink to the different banks I have an account with, I can aggregate all the transaction data for the whole year! Tink even categorizes it for me. After a while of scripting I got a result: 30,000€ spent on bars in January 2019. I'm sorry what? I'm sorry, Tink, but I'm pretty sure that didn't happen, or I'd remember it.
The #1 metric that matters when pursuing financial independence
It's not income
You've probably read about Johnny Depp's financial challenges. The guy allegedly has made 650 million dollars over the course of his career and it's all almost gone. Today he is forced to make more movies, work, which he receives an approximate 20 million dollars per movie. Imagine the agony.There are countless of examples like that. Clearly even the highest of incomes isn't enough to guarantee financial independence. It's a component of that, but not the essence.
Hyperbolic discounting will ruin your financial targets
Ok, maybe it isn't. Actually, it most definitely is not.
BUT! It's pretty cool. I promise you'll be entertained.
Others have liked these posts
-
Over the years, I've got a lot of questions about how I track my P2P portfolio. I've set my tracking up with tools that are difficul...
-
Okay readers, let's settle this debate once and for all, right now: which is financially a better option, renting or owning? This debate...
-
Right now, more than one billion people lack access to electricity . Trine , founded by Andreas Lehner and Sam Manaberi, is an investment ...
-
The moment of truth. You know, I thought I won't do this this year. For a while I thought I had saved myself from doing this becaus...
-
I'm sure you've heard many times: "Stocks historically have the highest returns." Since you have decades left in the ta...
-
How do seasoned investors know how to make lightning-quick decisions? What kind of magic tricks do they have up their sleeve? A lot...
-
I seem to have a suspicious amount of favorites, but Crowdestor definitely has a certain special place in my peer lending investment hear...
-
How do you become a millionaire? It's not a complicated matter, if you have time. If you don't want to wait until an old age th...
-
Designed by Rawpixel.com How long will it take for you to reach financial independence and retire early? This smart calculator will te...
-
The basic rule of investing is simple - the greater the potential reward the greater the risk. So it must be clear as day that when crowd...
More blogs you'll love
-
-
Passive Income – Breakdown2 weeks ago
-
-
-
7 Things You Should Know About NFTs1 year ago
-
-
My Passive Income Report – March 20212 years ago