Most high level outcomes are bound by your ability to lay low.
When you start thinking about money in form of “Time Units”, it changes everything:
- You say no to much more stuff than you’re used to
- You track your spendings more relentlessly
- You get your priorities right
- You ace long-term planning
I wish I started thinking in time units earlier. Makes all the difference.
Feels devastating there are just no clear Money Management lessons in schools nor in life. A trend I found among my friends is that those who spend the most on their lifestyles are in fact living like the lowest 20% of the population. The smarter live on controlled budgets no matter how much money they do per month.
If the ceiling to your spending per month is your income, you’re as good as screwed. No cushion, high risk aversion, and high tendency to always want more. Quickest way to ruin.
Also oftentimes monthly spendings do not only come in form of commodities, they could also be for covering credit debts, financing, etc. For example, financing for consumer products -especially- is designed to rip you off if you don’t know what you’re doing. Financing is basically putting more burden on your future self than it would specifically like to handle. But no one tells this stuff.