Knowing These 5 Truths Changed the Way How I Viewed Life and Money

Do not wait for your old man to slap you in the face

I (was) going over the money that came into my bank account and did many wire transfers today.

Immediately set aside money for my insurance premiums, household expenses, health care, utilities, and association dues. Good thing I have completed paying for that car my wife and I bought five years ago, (lightened) my load.

While I have two home loans outstanding, I am keen to pay off one soon — which leaves me to settle for only one remaining, and that is enough, I said to myself.

The rising prices (of oil and gas) did not do any good as I witnessed shooting prices for food and other goods — and it made me ponder again about life and money during this hot Thursday afternoon.

Financial commitment occupying your head can rob joy and happiness.

One size does not fit all.

Yes, it is okay to loan money from the bank if you do not have the money yet to fund a house.

Last year I thought of letting go of the latest real estate purchase we did because I did not want to think of any obligations when I hit fifty (I am now forty years old).

We have (been) settling equity payments on this property for almost three years now. To sum it up, it is around $16 thousand.

When I inquired about a possible cancellation, the developer told me the money to be returned to me would only be around $1.5 thousand. Upon knowing it, I wanted to respond (in anger) to that person behind the email.

As I cooled down, I told myself that it was a good investment — but if it keeps me (thinking) what if I have completed all my obligations at this point. It could have been a better life. I suppose flying around the world.

My wife and I decided to continue getting it since we can rent the first purchased property — and the rental money can serve as amortization of our latest acquisition.

It is something we can pass on to our kids when they reach legal age,

The lesson here — is whether you get a car or a house that involves long-term monetary commitment. Have a deep thought around it. You must have heavy reasons why you are getting it.

Life is short — and things change. Do not waste your remaining years working to pay the thoughtless debt.

Nobody cares about how much your stuff is

Of course, it is A-Okay to look good.

But acting as if you have the money to pay for a $2000 bag that equates to your net monthly salary is stupid — not cool.

Managing your money is common sense. You do not spend money beyond what you are getting. I have let go of my craving to buy that Rolex watch.

It is still in my head. I am not a hypocrite. If the cost of buying a luxury meant downgrading the needs and letting go of little wants such as eating great food and going out once in a while to the beach with the entire family — it is not worth it.

We are stewards, not owners.

Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.

Matthew 6:19–21 (NIC)

I recall this Bible verse — and it reminds me that we do not own anything. No matter how much we accumulate earthly wealth — we will leave it behind after physical death.

It is okay to invest in stuff but if you get addicted to it, be mindful that you would not bring it to your grave.

Owning material things will be left behind, so do not make it your god.

Otherwise, you will be a slave to it. It means wasting your time and effort to reach the numbers (that) does not mean anything.

The true meaning of rich is more time.

Our monthly routine is to stay the first three weeks of the month in the central business district — and then travel to the province to get some fresh air.

I recall my wife saying earlier I have so much time here when we are staying here in the province — I am enjoying it.

Because she does not do the laundry, My wife does not cook, and then because there is somebody doing it for us when we are in the province — she is able to get some rest.

Notice why big companies outsource their work to people — to buy more time to do things they need to focus on

And that is what we need to do with our money. Spend it to get more time and focus on things that matter most.

You do not stop working even in old age.

Young people (are) fans of retiring early — most of us do.

And that is a great concept — I love the goal of seeking financial independence and retiring early.

I have a lot of churchmates in our community in their senior years that feel sickly if they do not do anything. They want to be active — and they want to engage –for them working is a gift.

All say they will die immediately if they merely stay in one place. We are all made to work.

When you retire, you still do something.

You still work — but the difference this time is what kind of work you prefer to put your energies into — that is the concept of retiring early.

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