Financial freedom starts by changing your schemata of thinking. However, our mental health, past experiences, and personality tends to impact how we react to financial situations. Therefore, we must change our financial posture in every situation without becoming content. Having been there, I know that maximizing your last dollar is parlous when you have to choose between keeping the light on or paying the rent. However, it can get better with discipline, patience, and guidance. The first step is to develop a simple investment strategy to work for you in the next 5-10 years and prioritize.
It is time for you to change your mindset and start thinking big! Open a money market account and start saving as soon as you get hired. There is no need to spend more in a week than you can make in a month. Why do you need a $1200 phone when you only make $600 monthly? Is it necessary to pay extra to sit at the front of a plane when the back of the cabin arrives simultaneously? What is the opportunity cost in this instance? Prioritizing your long-term goals versus satisfying your immediate wants or keeping up with appearances will go a long way. Instead of treating yourself with your tax return or bonus, invest it wisely. Put it towards a down payment on a house or something that will generate equity.
Growing pains are not just physical; money can shift the power dynamics among families in many ways. Therefore, when you start adulting, nobody cares about the brand of shoes or clothes you wear anymore. You can own a house, and nobody cares except the mortgage company. You can own 2-3 cars, and nobody cares except the insurance company, the car dealership, and the financial institution that holds the title. These companies must care because they need to collect what is owed. For that reason, as you embrace the abstruse art of adulting, be mindful that not everyone can adapt to the weight of your change. So rather than spending money you do not have, try to decrease the debts that you do have. May the information and quotes in this book motivate and inspire you to keep going, as they helped me find my way to financial freedom during early adulthood.
