Financial Independence

I have been working for 8 years now and make decent amount enough for saving and yet, I feel I like I live on pay check to pay check basis. So where does all my earnings go? I am too afraid to take a stock at where my pay goes. Where do I spend most? why am I not able to save at least half-my-check towards investments. Just last year I opened a 401k to maximize my savings, that is at least the good thing.

I had wished, if only I started 401k right after I started working I would have saved quite an amount..It bothers me now as I enter my 30’s for being so ignorant and not very responsible for my savings. I spent money for other’s benefits for all wrong reasons and what a mistake I did. Spending money on others meant to display how much I love them and feel responsible for them.. NOT TRUE. I spent recklessly on impulses and at the end of the day – if I question my self – is it all worth it? I cannot ever tell. May be or may not be.

I have determined 3 days ago that I will not buy anything for at least a month. And then I go help shopping with a friend and I end up spending. Then other day I had to give a farewell to my colleague – oh well, I thought this was unavoidable so it is an acceptable spending. Then I was not in a mood to cook, so I spend money on dinner. I will try one week at a time to begin with and let all my close friends, family and colleagues know about it so they would not ask me to attend events where I had to spend money. But in the process I will miss lot of fun but I really want to see what it feels like.

Ever since this minimalism came into picture, I started looking at my finances and ways to save more and spend less, do something more meaningful than just do what other’s think of me doing something is right. This week has been bit roller coaster and very disturbing to look back at my life from a neutral perspective. It is still an ongoing process.

Ever since I started consuming less, These blogs really stand out where I am regular reader

1. Becoming Minimalist ( I have even purchased an kindle version of this author’s book and I like it.. it very short and sweet.. yes and I must say for the content provided.. i think it is over priced)

2. Miss Minimalist

The reason for this post is because of this link I came across – Money Mustache (from becoming minimalist blog)- A guy who did the similar job as mine but retired by 30 and does what he likes to do and still makes money. The more I read about him, the more I feel like being ignorant about my own needs and necessities and goals. But I also understand that every one’s path is different.

Question for you all – how do you deal with your finances?

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2 thoughts on “Financial Independence

  1. MMM is a very good place to be in, and mingle with other like minded Mustachians. If you are really serious about wanting to learn more about investing, you should make it a point to read all the posts under this http://jlcollinsnh.com/stock-series/. Then go back and read them again. Then read all the other posts that this guy has ever written.

    I might be totally off base here, but it seems like you are an immigrant to the US (maybe even Indian). Most of the ideas that Mr. Collins propounds, especially with respect to the US stock markets and the investment vehicles, might not be applicable to other international markets. This is of importance if you plan to go back to your native country some day. [Again, this point doesn’t hold good if you are in for the long haul in the US, or a US citizen].

    Like

    • Thank you Krishanu for sharing the information. I am not sure yet that I would relocate back to my home country now or later but will do some day in the future. I would definitely go through Mr.Collins insights.. 🙂

      Like

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