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Started by bf312, November 05, 2018, 10:52:49 AM
Quote from: piarluozno on November 13, 2018, 12:35:22 AMI used to be super focused on being frugal thinking of it as the best (and possibly the only) way to reach financial independence. Being an immigrant from a developing country, I was dumbfounded by how easy North Americans spend hard earned money on things that didn't make sense (to me at the time) or last During a lunch chat with one of my colleagues, who tends to spend liberally, I asked him why he is not saving more. After all, we were working in a startup and making very little money. He said something along the lines of "there is only so much you can save but there are hundreds of billions of dollars out there up for grasp and that he rather spends energy on the latter". It kind of made sense but I could not see a way to increase my share in those billions. I thought he was just making excuse for living a fun life style. Over the years, as I moved up in my career I slowly realized he was right. If you have the energy, the will, and the skill to make more $, you should focus on that and stop obsessing about saving a few bucks here and there. If commuting with uber will save you time and increase your productivity, skip on the stressful long bus ride, and think of the uber cost as an investment. Spend 300-400 more on uber, deliver more, get promoted, and make multiple of what you spent on Uber...Another example - as hiring manager in startups and large tech companies, I saw many times that simple tricks such as having multiple competing offers, or simply negotiating better can bring you an offer that can literally double your overall compensation package compared to what your (possibly better skilled) peers make. I could not believe how often smart folks, especially folks with PhD, leave huge chunks of money on the table simply because they don't know how to negotiate. Having realized these, I have been worrying more on how to increase my value proposition (= my technical, negotiation, and management skills) and worrying less on saving 10$ on my next grocery adventure... Don't take me wrong, I think you should save, but it should not be an obsession that drains your time, physical and/or mental energy . So far it worked for me quite well
QuoteOne piece of advice that my grandma didn't give me, but did mention was the concept of your salary or income for the year (excluding extra income or side income you weren't expecting). She always said something like: "It's fine if you spend money on travel, or some new clothes, but you have to realize that means you will have to spend less on something else later. Choose what is important to you and understand that trade off!"
Quote from: Sam on November 05, 2018, 06:17:59 PMNever fail due to a lack of effort because effort requires no skill.