Where To Begin – Personal Finance

Personal Finance is a tough topic to handle, mostly because people don’t like talking about money. Why? Because it’s embarrassing. According to a 2017 GOBankingRates survey, more than half of Americans (57 percent) have less than $1,000 in their savings accounts. Virtually half, or 49 percent, of all Americans are still living paycheck-to-paycheck, according to the same survey. So the majority of Americans have a f_ _ _ _ _  economy. It’s normal to be poor


So chances are, the ones reading this are in the same situation. If you’re not from the US, then this still applies to you though.

Most people spend money they shouldn’t be spending instead of saving and investing. I could end it here, but I won’t. We have to go a little more in-depth.

There’s a psychological aspect to overspending and spending money we don’t have. Money gives us power, being wealthy is fun and it’s something we’ve been told to look for ever since we were in pre-school. Money is the goal. So when someone gives you your first credit card at the age of 18, it’s hard to fall in the trap of overspending. You have the opportunity to spend money you don’t have, and you’re too young & dumb to realise it.

Don’t get me wrong, I think most of us have spent a little too much on our credit card, me included, but here’s the thing. DON’T USE IT!

Most people start their unending debt-cycle the day they get their first credit card. There’s nothing telling you “you don’t have the funds to make this purchase!”. You start spending and spending and in the end you hit the limit, the minimum is too much for you now that you’ve grown accustomed to an expensive lifestyle and so you get another card to pay the premium on the first one. You see where I’m going with this? It’s never going to end unless you get a grip.

Credit cards are loans. We don’t like to think about it like that, but it is. Studies show that you’re overspending by a lot when you use your plastic cards rather than cash. I don’t care whether you’re paying it off at the end of the month. Credit cards is the most advertised thing in the history of humanity, you think you getting a few points mean you’re “winning” over a billion dollar corporation? Grow up. 

You’re loaning money, money you don’t have, to buy stuff you don’t need. It’s time you realise that you shouldn’t be using your credit cards. Pay them off, start with the one you owe the least on and work your way up.

Now we have to face the next financial catastrophe you might be facing, consumer loans. Refinancing these is the only way to get out of the worst interest-cycles at this point. You don’t want to be killed by the interest here, pay your minimum and wait for it’s time to be paid off.

Here’s the deal. We love money. We love money so much that we’re willing to jeopardize your future so that you can buy a $50 dollar pair of shoes. You’re sacrificing future wealth to buy stuff that is killing you slowly, cigarettes, snus, even alcohol consumption. All these credit cards, consumer loans combined with overspending means that it’s normal to be poor. Wake up. 

Pay your loans. Get a grip. Start seeing reality

Be taken seriously as a young entrepreneur

“It’s not about how many years of experience you have. It’s about the quality of your years of experience.”

– Jacob Cass, Logo of the Day

Being taken seriously is always difficult when you’re starting out. I remember some customers telling me that I need to find “a real job” or that “when you get older and get a real job …”. That sucked. It didn’t really budge me all that much though and I think that’s one of the big things to aim for. Don’t let someone older man or woman try to influence what you do. When someone told me stuff like that, I tried to act nicely and I’d curse at them in my head. I’d get my killer-instinct going and I would make sure I get where I want, just to prove them wrong and you should to.

One of the most difficult things is when you meet older people. It doesn’t matter the age difference, as long as they’re older, they can be difficult to deal with. Why you ask? It’s because they think they know more and chances are.. They do. So how do get around this? The answer is simple; show them they’re wrong.

This is easier said than done don’t get me wrong, but if you want to get somewhere, you’re going to have to show them what you’re all about. What you can accomplish and what you have already accomplished! 

We’re now in the process of starting our second business. The estimate is for it to close up on $5.000 just to get the plans ready, both the business and the tech side of things. We’re looking at a million dollar project. You think it’s easy going in to meetings as a 21 year old with no education and start “asking” for money from a bunch of old bankers? It’s not like I’m asking for small sums either. Hell no it ain’t easy. You know how I can actually get the funding though? I show them what I am capable off and what we’re capable of.

If you want to get somewhere as a young entrepreneur you have to work your ass off, fight the tough battles and create something that will make people have faith in you. Don’t let all the time you spend working or “working” leave you with nothing to show for your time invested. In our time time is limited, money isn’t though. You could go do anything and get money, you just need to be strategic.