Welcome to our another article on finance and freedom. In this financial article ,you will be going to read about advice for 20 year old’s, what I wish I knew or what I did really well in my twenties or what I would do differently in my twenties. Hindsight is always a great teacher. So I’ll be sharing my mistakes and my triumphs that I experienced in my twenties, so let’s go. . But with that all being said, let’s get onto these lessons, shall well.
1. Credit card no no
Okay, so this might sound crazy. I’m 32 years old and I just started using a credit card for the very first time yesterday. And I have to say the power that I felt in my hands having a credit card was addictive. I totally understand where people come from now when they use credit cards and they are in debt. It is scary how easy it is to spend money that you actually don’t have. Now, in my instance I have the money. It’s a business credit card and we’re doing it to accumulate points. But I don’t know if I really wanna do this moving forward, because it is just too enticing to be like, spend this, and then at the end of the month I don’t know what the bill is gonna look like, and that’s petrifying to me. The only reason I would ever use a credit card and if I have to, if businesswise, I still have to continue using credit cards for security and points and all that kind a jazz.
The only way that I’m gonna go doing this forward is to pay off the credit card debt immediately. Pull out my credit card, I go to my phone, paid off immediately right there and then. Because otherwise I am losing track of my finances because there is my savings account obviously, all the money that I have that is actually mine. And then I have a credit card that I have no idea what’s being spent on. So it separates the two, and when you are not in control of your finances. If you’re the type of person that is capable of controlling your urges, I apparently just found out that maybe I’m not that person. Then you cannot have a credit card, it is a road to disaster. Only spend the money that you have.
2. buying too much stuff.
Let me show you what happens when you buy too much stuff. Now I think this isn’t exactly news to a lot of you that if you buy too much stuff a lot of it you’re never gonna use and you just buy it on impulse. And I’m experiencing this for one of the first times in my life because A, I have now some wealth behind me so I was like, oh, let me buy some stuff, let me buy more stuff, let me buy more stuff. I have a huge house, fill the space, fill the space. And secondly, I’m not traveling as much as I used to. I was a minimalist for most of my life because I’ve traveled so much, I prioritize travel. So I didn’t have a lot of stuff. And now that the world’s shut down and I haven’t been traveling very much, I substituted the desire fortravel with buying things. And guess what? I feel very empty. I feel so empty.
There is no real joy from it. There’s aspects joy, obviously from the piece of clothing, for example, that I love that I wear on repeat. But I’ve bought so many things on impulse that I didn’t need to buy. It sits there and it clutters my space and clutters my mind space worst of all. I think that’s the worst thing about everything is that you’re cluttering your mind space. You only have the capacity to fit a little bit in and that’s what minimalism really helps you with is clearing all that junk. See here is the deal here, it is very easy to buy a lot of things and spend a lot of things ,but you have to prioritize where your cash goes. Cash is energy. So what do you wanna manifest more in your life? Is it just clothes that you’re gonna literally forget about most likely ’cause you’re going to where only 20% of what you buy. That’s how it works.
Don’t fall for this consumeristic trap. They just want you to have a lot of things and then you’re gonna feel really empty inside. But what I did, and I’m really proud of this step that I definitely did in my twenties was I was at tied . ‘Cause I knew what I wanted in my life. I knew that I wanted to spend my energy focusing on becoming a digital nomad and traveling the world and working online.
You are not going to tell me that working in an office, being stuck in one space was worth the trade-off with a pair of sneakers, new sneakers. No, I wear the sneakers I bought last year, like it’s fine. I don’t need the latest and greatest things ’cause my vision was so much stronger, I was getting my dream of being financially independent, full stop. If I look like shit for a few years because I don’t look trendy, so be it. But also secondhand clothing by the way is awesome. Except it’s still a trap, ’cause a lot of that stuff is secondhand clothing, and I still feel like it’s weighing me down. So I am going to be, believe it or not, calling back down. I think I really like minimalist life.
3. You will mess up, so start again.
Financial education is complicated, learning about business is complicated. There are lots of things that are gonna work for you, they’re not gonna work for you. You are gonna lose some money, you’re gonna gain some money. It is an up and down ride. I already know people that have been burned by different opportunities that came up with finances. You do hear of these things happening of scumbags coming along and selling something that isn’t real and then taking your money and running with it.
These things can absolutely happen and they can burn and it can hurt a lot, you’re gonna make mistakes. But the thing is you have to have your end goal in place. And even if there’s huge setbacks, you have to remember that this is just a learning path and if you keep going, keep persevering, most likely you’re gonna reach your goal. But by having this attitude of like, I screwed up I’m just gonna hide now, you’re never gonna progress. So mistakes absolutely happen, but they’re just paddling the learning curve.
4. Pay with cash and not card.
If you wanna get even more hardcore with tracking your expenses and everything that you’re paying for, you might wanna consider paying with cash and taking the cash out first and seeing what it feels like when you’re spending that money because there’s a very different experience to just going like me. Now I know right now, cash is illegal in a lot of places to be used, and there is a potential that cash will no longer exist in the future and we’re just gonna be going into digital currency. Most likely this is the future. However, if you are still able to, just for a short period of time, just try spending money, actual physical money ’cause it’s going to change your perspective on what $1 means, $2mean, ’cause you see it and you feel it and handing it over is not as easy.
5. Start saving now.
I can tell you that having money in your bank account is one of the most beautiful things that you’ll ever experience because it takes the weight off your shoulders thinking that next week you will not be able to pay your rent, you won’t be able to buy yourself food. So you wanna learn how to control your urges of spending too much money where you are not meant to be spending money and making sure that you have a cushion behind you at least three to six months emergency funds behind you that if any thing goes like life or death wrong then you can lean on that money. But otherwise you do not touch that whatsoever, life or death. Once you have that cushion behind you, it gives you that wealth beginning mindset that you feel safer and you will not make as many mistakes and stumble as much as if you didn’t have that cushion behind you. So start saving now. Become in love with the habit of saving money, instead of spending.
6. Buying a house.
This one I have very mixed feelings about it. I’m just gonna tell you my experience and see what you think for yourself. Firstly, I’m very glad that I was in my thirties when I purchased my first house. I don’t feel like it was necessary to do it earlier unless I would have found an amazing bargain that I would have purchased for investment purposes. My very first house, if I was to buy in my twenties and I had the cash to do so would be to buy just for investment purposes. So it’s not a house I would live in, it would be a house that I would rent out so that the tenants will be paying off the mortgage. If you do this kind of a strategy obviously you need to make sure that you are seeking professional advice on this because you don’t know which areas to buy in, what price you should be paying. But I would say that it would be a lower cost that you would put into this house. It wouldn’t be a very expensive house.
You shouldn’t be a very expensive house because it is your first property investment. However, if your dream is to own a house and just live in it my advice would be to buy the least expensive house in the most expensive area that you can afford with some caveats. It doesn’t mean that you should be living in Venice Beach, for example ’cause the lowest price house on that area is like what? $5 million.
That’s not what I’m saying. I’m trying to say wherever you can afford, what’s the most expensive suburb you can afford. Not by taking out a $1.5 million mortgage, but really truly look at your expenses, what do they look like? Look at your income, what is actually reasonable? Do not listen to banks ’cause banks are always gonna wanna put you indebt as much as possible. Maybe the sweet spot is to go to a bank, find out how much they would lend you and then go half of that, like 50%, and then buy a house according to that 50%. Because banks, you guys are evil trying to keep people in debt. Oh darling. Ooh, no, no, no, no, no, no. And then over time, yeah, you’re living in this crappy shack for a while, but you’re gonna make it up and you gonna make it pretty and the value, obviously of that house is gonna go up as well, most likely, which is exactly what you want.
And the quality of living in better suburbs is obviously better because better schools, better food probably, better location, better community ,better friendship group. And these are all things that are gonna help you develop yourself better. Different strategies for buying a house, I only say not buying a house only because it is so expensive to have a house, because you do fall in love with it and you wanna make it prettier. The expenses just like flyout the window really fast. That’s why I say property investments, buying those instead is because you don’t fall in love with it emotionally. You just wanna make sure that the tenants are paying off the mortgage, that’s it. So it becomes this asset instead of a do dad as rich dad calls it.
7. upscaling yourself in valuable, unique ways
One of the things that I’m very proud I did in my twenties was upscaling myself in multiple different weird areas, as well as looking at what is a rising tide. Let me explain. So first of all, up-skilling yourself is one of the most important aspects of becoming financially free and wealthy and independent. A wealthy person isn’t how much money they have because if all the money was stripped from them are they able to rebuild that? And the only way that you’re able to rebuild that is by your skillset. The only reason people are able to make a lot of money is because they’re able to provide a lot of value to a lot of people. So obviously marketing comes into play, like how many people can you reach? And also how big is the problem that you’re tryna solve.
So if you’re just trying to solve a problem of putting gemstones onto a nail. Number one, you’re trading your time for money which is not what you wanna be doing ’cause you can only serve one-on-one customers. But second of all, this isn’t solving a huge problem. The reason why Tesla is growing so fast and why it is so popular is because it’s making the electric car sexy and it’s spreading it worldwide. There was a need for this. There was a need to replace the old model of cars to push forward a new era, and this is exactly what Elon has done. That’s why it is such a valuable company because he’s solving an enormous problem just to caveat from environmental surreal. Not sure if this is the best way because obviously mining for batteries is really really bad fort he environment as well. But I just wanted to put that in really quickly, move on really fast. Okay, bye.
Where my priority lied was ensuring that I accumulate a skillset that I can reach a lot of people with. Sales and marketing isso freaking important to learn in your lifetime, especially if you wanna be an entrepreneur or financially free. To me I just think business is the way to become financially free. It is an amazing opportunity to upscale and be able to trade your product to reach as many people as possible instead of trading just your time one-on-one. Even doctors are doing it these days. We have YouTube channels of doctors sharing their knowledge on YouTube, which is just freaking crazy. So essentially all they’re doing is marketing their skillset to the masses and reaching a lot more people than if they were just working in the clinic. Furthermore, looking at developing skillsets that are unique and valuable to society is something to also look at.
Because everybody is born equal but their degree of how much they are contributing to society will depend on them. If you work at a checkout store, thank you so much fordoing that job by the way. If you do, thank you so much. But unfortunately these jobs are becoming replaced very, very fast with AI. And this is the trajectory for what we’re looking at in the future. You wanna find skillset that are complex, really valuable to society. And the merge of the weird skillsets is exactly what’s gonna get you the big bucks. It might take a while to accumulate these skills, but that’s okay. You have all of your twenties to do that. And then the thirties, you could explode and accumulate as much wealth as possible because you’ve got this beautiful skillset behind you.
Remember I said, wealthy people are not how much money they have. It is their ability to create wealth in their lives. And by having interesting skill sets, this is the way to do so. My interesting skillsets. Holy crap, self portrait photographer, a travel YouTuber, really good in front of the camera. Hey. Editing skills are on point, I can edit really, really fast. So social media marketer ,marketer, product creator, online product creator, sales person, financial educator, speaker. And I think the list might just go on a little bit. So essentially I have a lot of very valuable skills that people like and they want, and they need. I didn’t obviously start in front of the camera like this. I accumulated my skills first behind the camera. So I was actually taking videos for clients, testimonial videos, all that kind of jazz, not very fun corporate work but I accumulated the skill of being able to edit really fast, take photos.
I saw a rising tide. I remember so clearly in my mind thinking, oh my god , video is going to be huge. Why are some of these companies not pursuing video? I know video works. I know that you and I, having a connection is stronger than any brand is gonna speak to you be like, “You should buy by product, “that’s not how it works. We are building trust because I’m giving you so much value, and I hope you can see that. Drop a comment down below or like if you feel like this. All I know even though I was shooting blank a little bit and trying to figure out what was gonna work, I wasn’t certain, there was no certainty about how my skill sets that I was developing, I just knew I really enjoyed those skills. Number one, you really wanna enjoy something.
If you want to get really good at something you have to enjoy it otherwise you’re pushing against the grain and it ain’t gonna work. So I enjoy taking photos and videos a lot even though I knew corporate work was boring, I still believed in video so, so, so much. And at the same time I knew it was a rising tide. I wasn’t learning how to create VHS videos or putting my videos on DVDs or anything like that. I knew what the rising tide was, so I turned to YouTube and all that exploration. So look for rising tides and upscale yourself in very unique but valuable areas. This one is one that probably I shouldn’t put onto a financial channel, but I’m going to do it anyway.
8. fame and money actually doesn’t bring happiness
In my twenties I wish I realized that fame and money actually doesn’t bring happiness. But the thing is I still would have pursued it anyway, because I will not find out that lesson unless I experience it for myself. And exactly what happened and you hear these stories of people getting all of this success and abundance and they’re like, “Well that’s a little bit empty, isn’t it?” And then they start pursuing different things. Russell Brand is a really great example. He’s a role model of mine. I adore him because he’s reached the peak of the peak. And then he was like, actually I like spirituality. In hindsight, would I have changed anything? No, because now I’m on this beautiful spiritual journey and you can check out my other channel if you’re interested in that.
However, building up financial freedom is valuable. So it’s not the riches and the fame, those are the extreme versions of it. But learning to control your finances is super fun because you feel like such a rebel, because 99.99999% of people in the world do not understand finances because they’re not willing to put in the time because they’ve bought into this lie that finances are evil and you shouldn’t love money. And money is really bad for people, it makes you corrupt. No it doesn’t, it accentuates who you are in your heart. So even though in my twenties, I really wanted to pursue fame and riches, what I now know and maybe what I would have done slightly differently is understanding that there are two paths to financial freedom. Let me explain.
9 .Be real with yourself about what you want
Number one, it is going down this traditional route that society tells us that we should pursue this dream life, and I fell into this trap as well, of more, bigger, lots of money become a multimillionaire, this is the only way to become financially free. And so you work, work and work and you hustle, hustle, hustle. And for a lot of people this is not the path that’s gonna work for them, it’s just not. It is not gonna work because it takes a certain personality type to become a multimillionaire, that is how it works. Because these people are relentless, like myself, in figuring out every single way of making something work and tweaking it and just becoming so obsessive that the end goal is financial freedom, full stop.
I am gonna make this business succeed, there is no plan B, that is it. But for a lot of people they don’t function this way because they wanna have their nights off. And for most of my twenties ,I had no nights off. I worked 16 hour days, all the time. I had three jobs. One time, bartending just so I could support the businesses that I was growing putting money into products seeing what works, what didn’t. I worked so hard in my twenties, oh my God. I had no social life, I gave up almost everything except for when I was going traveling world, which is really fun. So I would work really ,really, really hard and then I would traveling for a period of time. And when I was still traveling, I was working I will give myself that, but I wasn’t working as hard. And also got ta tell ya, when you’re having that ice cream walking down Venice Canals, and you’re like and you got ta do some work on the side, you’re like, actually
, that’s a lot of funnier than just sitting at home like… So the experience was definitely worth it for me. Now, the second way of becoming financially free and something that is a lot more doable for a lot of people ’cause I think a lot of people watch these financial channels and business channels and they’re like, oh my God, are you serious? I can’t do that. That is not gonna happen. Let me tell you what I would potentially do different if I didn’t have the crazy intense personality trait that I have.
10 . Strive for a simple life with minimal expenses
Strive for a very simple life with very very low monthly recurring expenses and in general, very low expenses. I did do this in my twenties. I kept my expenses quite low, but I was also hustling like a crazy person to try to make a lot of money. And I’ve made a lot of money in my time and it is fun. It’s got its ups and downs, I’m learning a lot. It’s a huge learning streak, and I love that. But I now see that you could easily create a business that makes you four to $5,000 a month, if that, depending wherein the world you are. Obviously some places are a lot more affordable to live in so you could possibly survive with one to $2,000 a month. And I would strive to make that cash and that’s it. And I wouldn’t go above and beyond that and I would keep my expenses really low. I would consider living in a tiny house, consider living in a van or an Airstream and just make that my way of living, making it a really affordable lifestyle.
And I know a lot of people look at these people that have this kind of a lifestyle ,living in vans or tiny homes, and some people legitimately look down on these people thinking, oh my, they don’t even have the money for a proper house. Meanwhile, these people have paid off their house in full. They don’t have rent and running a small tiny home is a lot more affordable than running a huge house like the one that I have right now. Tiny homes they are cute and this all nestled, and you have your living space in this tiny space, and then the nature is your living room essentially. So everything becomes more about experiencing the outdoors, so it is a lifestyle choice. But the beautiful thing about keeping your expenses really low and your monthly expenses really really low is that your priorities in life just change, and you get out of the rat race.
And that’s essentially everybody that wants financial freedom just wants to get out of the rat race. They don’t want to work in an office, they don’t want their life to be about work and that they get one holiday a year potentially where they can do what ever they want for one single week. If you realize that the conditioning around having a lot of stuff is just to keep you trapped you free yourself because it doesn’t matter what someone else’s opinion is about what you’re doing, what kind of lifestyle you have. While they’re going to work with their expensive Gucci shoes and thinking that they’re so much better than you, you literally can wake up and work for a couple or three hours a day and just then spend the rest of your time learning, up-skilling your self, hanging out with community, growing your own food and just being probably a lot happier than 99% of those people.
Is this realistic for everybody? I don’t know, I don’t see a reason why some people couldn’t do this and they couldn’t move away from this giant city that has everything is so stimulating and you never feel like you’re good enough ’cause your surrounded by people that are doing amazing things, and that’s awesome. But there are tiny communities around the world of people doing amazing things that are just not in this mainstream world that we are so conditioned to believe is the only way. So if I was a bit more aware of different options presented to me and realizing that I was hypnotized by the curse of what society says is a successful person, I would have potentially considered going down that route.
The only hindrance was that I was a workaholic and I needed to prove to myself that I’m worthy and valuable and all that stuff, and I wanted to show off to my family like, look, I am so special. And all the people that rejected in me in my past that told me I wasn’t good enough in some way. I was like. So that aspect of it is really nice. It doesn’t mean that one day I won’t go into a tiny home and just live in a tiny home, most likely that it’s gonna happen one day. But for those that know that this hustle life is absolutely not for them.
And I also don’t stand by the hustle life at all anymore but I’m grateful that I did it because I understand that in life, you have to have periods of hustle whether you like it or not. You have a shit situation you wanna get out of, financial situation, toxic relationship that you wanna move out, you wanna get your own house, whatever, you need to do these hustle moments of working crazy, crazy hours. So everybody that’s soagainst the hustle culture that is like, work-life balance. No, sometimes you gotta go for it. Sometimes there is no suchthing as work-life balance. So I also don’t regret that. But I will never return to the hustle life the way that I used to do it. I don’t think, maybe, we’ll see.
11.Make financial education a priority.
Whatever you prioritize in life it is going to manifest in your life. Whatever you focus on you’re gonna get more of that. So if you are going to be educating yourself and finding amazing, beautiful, glorious financial teachers. Okay, I’ll stop. Then you’re telling the universe, this is what I want and I’m gonna put in the time and I’m gonna study, I’m gonna read extra, I’m going to make this my priority. You can of course, if you choose to watch Netflix for two to three hours a day, it’s up to you. It’s up to you. Okay, I guess it’s time for us to part. It has been quite joy ful hanging out with you. So thank you for taking the time. I appreciate you. And I look forward to seeing you in the next post .