Happiness

“The more dollars adult children receive, the fewer dollars they accumulate, while those who are given fewer dollars accumulate more.” - The Millionaire Next Door Whilst reading through The Millionaire Next Door , this quote is what stood out the most. People have been toting the phrase “the generational wealth gap” for decades. They say that wealth begets wealth and that the poor cannot compete. Why then does this book that was written over 30 years ago say that the opposite is true? And why does it resonate so much with me? ...

Consolidating your expenses has long been a tradition in British culture. It stems back to the days where a father had to barter with other families to trade off his daughter as a bride in place of cattle or arable land. The daughter would then become the property of her new husband. Their finances then become one, “What’s mine is yours.” It was the wife’s duty to raise children; it was unimaginable for them to earn money, so the joining of the household finances had to happen. Of course - in the modern world, things happen a little differently. Women are now in high paying careers all over the world, their wages have almost leveled out , or in some cases surpassed males in the workplace. Couples are on an equal playing field, so why should this age-old tradition of consolidating your finances continue when each person is as able as the other? Here are the 3 main reasons why you should be splitting your finances equally and why doing so should be the go-to de-facto for FIRE pursuers. ...

I grew up happy. I went on lots of holidays… ate at restaurants on special occasions. My parents spent much more money on me than they ever did on themselves. They bought me up happy… but they’ve never earnt much. They’re both very hard working and have worked all of their lives, but they’ve never earnt more than minimum wage. A lot of people would say that this put me at a disadvantage in life, but that’s not true. In fact, I believe that my parent’s earnings put me at a greater advantage than most. I know how to live with less, and I know that spending less leads to a happier, more fulfilled life. Let’s explore this notion together. ...

People think that earning a high salary means that they can afford to buy more things. They behave like rich people; going on multiple holidays, buying fancy cars, taking out huge mortgages. The truth is; if you have nothing invested… You’re poor. You should be eating beans and saving like hell as you’re losing tens of thousands every year and setting yourself up for an unhappy life. To put this into perspective, let’s imagine we have two guys: ...