The final solution to all "I have some money what do I do?" threads.

[knz]

Great thread! Always good to be actively reminded about consuming and costs vs producing and gains. Implementing this in your lifestyle, making this way of thinking a habit, will save you a lot of money, and gain you even more.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[shanprit]

Reminders like this really help me to get back on track and stay focused on my Fastlane journey. Full steam ahead!

 

[MJ DeMarco]

Bump.

 

[Trephy]

If you trade time for money, your money shouldn't be for consumable frivolities.

Well said,

Your time should be used to create value - not for the new iPhone or the trendy clothes.

I always ask myself this question:

"Would I rather have this phone or provide value to people and be one step closer to freedom"

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[KojoBarfour]

It was definitely the most potent idea of Rich Dad poor dad, but it really didn't sink in until I read TMF because it was explored outside real estate in such a comprehensive way. It all boiled down to the answer to this one question...

We see it on here all the time: "I have a thousand dollars, I have five hundred dollars, I have ten thousand dollars..." and the inevitable conclusions: "Should I go to school? Should I buy a car? Should I buy a boat? Should I blow it on a vacation?"

Reach into your pocket and grab whatever money you have. A dollar. A dime. Doesn't matter. Hold it and look at it. The difference between freedom and wage slavery, between working till you're old or retiring when you're young, is that you look at that, and stop seeing an opportunity to consume. When you have a little windfall and you're not in the fastlane, if you spend it on frivolities like a sports car or a cruise, you look as stupid as a fisherman who goes out to hook some blue fin tuna, but right as the school is swimming beneath his boat, he opens up the little tub of bait he brought along and starts shoveling the dirt and worms in his own mouth, greedily slurping down the little squirming maggots and telling everyone how awesome it tastes.

Meanwhile, 400lbs of prime seafood is getting away. Where are you? Choking down your little bit of dirt and tricking yourself into believing that it was worth it.

If you trade time for money, your money shouldn't be for consumable frivolities. It's not for designer clothes, or iPhones, or Sunday Ticket, or a Mustang GT. Shop at Wal-Mart or Marshalls, drive a $1200 Geo Metro, get a Republic phone, cancel your Netflix, and spend your money to get free. Even if you're really, really hungry, take that bait, hook it up, and get it the hell overboard. Let your stomach gurgle, you'll be eating good tonight.

Money is your best bet to earn more money. Until you're meeting needs at such a high volume that money is available in excess, the little bit you do have, whether it comes from a job or a lucky break from somewhere, should only be spent one way. There's only one fastlane answer to the question "I am in the slow lane and have X amount. What should I buy?"

Buy something to meet the needs of others.

Spend your money in a way that causes it to be multiplied rather than consumed.

Very inspiring, man