Good morning! ☕️

Either you control your finances or

Your finances control you.

Better if you rule.

Usual financial mistakes:

1️⃣ Having no financial plan or goal.

2️⃣ Having no savings

3️⃣ Increasing your lifestyle when your salary increases

4️⃣ Thinking if you can pay it, you can afford it.

5️⃣ Buying new car, new phone, etc frequently

6️⃣ Not knowing how much and on what you spend each month

7️⃣ Thinking if you invest 10%, you are set for life.

8️⃣ Having unnecessary perpetual payments

9️⃣ Understanding the real impact of inflation, and hedging against it

#frugaltip #frugalism #frugal #minimalism #minimal #minimalistic #grownostr #nostr #coffee #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving #hardwork

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Discussion

If 3️⃣ is a mistake than you are controlled by your finances.

Interesting point of view! 🤙

I could argue the other way around as well, that if you increase because of salary increase, you increase because of finances, so finances control.

Although the main idea behind what I wrote is, if you increase your lifestyle then you will depend on a higher paying job to be able to pay your things, so you depend on your "higher" finances.

So if you are sick of your job, you can't really quit to something that you would enjoy but would pay less e.g. Or you can't start a new profession which could pay you less due to the fact, that you are not yet an expert. Or you can't quit without having your next job lined up.

So the main message here, if you keep your cost lower even if you earn more and more, it gives you financial stability and flexibility which can mean you have the ability to decide without your finances controlling you. Still you can consider it though.

I hope it make sense. Also I am a random person on the internet, so might be wrong.

Also interested in your opinion about this.

is it a mistake to understand inflation?

Good point, missed the "Not"