One important point in TMF for me is: if you can't handle money, earning more money won't solve that problem.
So I thought it would be cool to have a thread where everyone who wants can put his/her insights of that topic into. I'm honest with you, I absolutely can't handle my finances. I never did, but I need to fix that part in my life.
In order to understand my lavish behaviour when it comes to money, I first needed to understand where it comes from. Actually I never learned how to handle money, the main reason I think is, that compared to other kids in my age, I didn't receive pocket money. My parents took care of paying for the things my brother and me needed (clothes, food, etc). So I never got the chance to handle my financial situation on my own as a child. Sure I bought my Playstation Games and music CDs from the money I got for my birthday or on christmas, but all the other everyday things were paid by my parents.
I am not complaining, nor am I blaming my parents for my behaviour. I know they meant it good with me and my brother, and even if my family wasn't rich or upper middle class, my parents tried to give my brother and me an awesome childhood, and they did.
But it was important for me to understand why I spend every dime I got since I started earning my own money. I was 17 when I started working at my first job, and until that day I never had to handle my own finances. So when I received my first monthly salary (about $500), you guessed it, I spent it until nothing was left. This behaviour went on since that day, no matter how much I earned ($650, $800, $1300, $1500) I always spend all my money until nothing was left. In the beginning it wasn't too bad, because I spent my money over the month, until nothing was left right before I received the next salary. But with increasing monthly costs (car, phone, rent) I slowly got into the red numbers every month, until the point that I am in the red numbers the whole month, being afraid of not being able to pay the rent every month.
I tell myself, that it is just a temporary situation, while I'm working on a my Fastlane business. But I realized that if I can't handle $1500 a month, I will probably also have problems handling $150000 a month. That's why I want to fix it now.
I am not even spending big amounts on stupid stuff, I'm not driving an expensive car (an old 1997 BMW), I only pay $350 for my rent (sharing the flat with my brother) and I'm not partying a lot. I think the biggest amount I spent in the last months was $250 and that was for our business logo design.
So the majority of my money is spent for everyday expenses, like buying food, going out for dinner, going to the cinema, and stuff like that.
The reason I made this thread is that I would like to get some insights into the belief systems of someone who CAN handle his/her money situation. I know the importance of handling that area in my life while creating my Fastlane business in order to really live a life free off financial pressure one day.
So I thought it would be cool to have a thread where everyone who wants can put his/her insights of that topic into. I'm honest with you, I absolutely can't handle my finances. I never did, but I need to fix that part in my life.
In order to understand my lavish behaviour when it comes to money, I first needed to understand where it comes from. Actually I never learned how to handle money, the main reason I think is, that compared to other kids in my age, I didn't receive pocket money. My parents took care of paying for the things my brother and me needed (clothes, food, etc). So I never got the chance to handle my financial situation on my own as a child. Sure I bought my Playstation Games and music CDs from the money I got for my birthday or on christmas, but all the other everyday things were paid by my parents.
I am not complaining, nor am I blaming my parents for my behaviour. I know they meant it good with me and my brother, and even if my family wasn't rich or upper middle class, my parents tried to give my brother and me an awesome childhood, and they did.
But it was important for me to understand why I spend every dime I got since I started earning my own money. I was 17 when I started working at my first job, and until that day I never had to handle my own finances. So when I received my first monthly salary (about $500), you guessed it, I spent it until nothing was left. This behaviour went on since that day, no matter how much I earned ($650, $800, $1300, $1500) I always spend all my money until nothing was left. In the beginning it wasn't too bad, because I spent my money over the month, until nothing was left right before I received the next salary. But with increasing monthly costs (car, phone, rent) I slowly got into the red numbers every month, until the point that I am in the red numbers the whole month, being afraid of not being able to pay the rent every month.
I tell myself, that it is just a temporary situation, while I'm working on a my Fastlane business. But I realized that if I can't handle $1500 a month, I will probably also have problems handling $150000 a month. That's why I want to fix it now.
I am not even spending big amounts on stupid stuff, I'm not driving an expensive car (an old 1997 BMW), I only pay $350 for my rent (sharing the flat with my brother) and I'm not partying a lot. I think the biggest amount I spent in the last months was $250 and that was for our business logo design.
So the majority of my money is spent for everyday expenses, like buying food, going out for dinner, going to the cinema, and stuff like that.
The reason I made this thread is that I would like to get some insights into the belief systems of someone who CAN handle his/her money situation. I know the importance of handling that area in my life while creating my Fastlane business in order to really live a life free off financial pressure one day.
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