Financial freedom

Lets start at the beginning, I am not a prodigal son. I have always had issues in relation to managing money and will most likely have them for some time to come. That’s what makes these words so valuable, it’s coming from a man who is himself in the trenches. You may think that a reformed spendthrift who has changed his ways for the better would be the preferred source of such life changing affirmations, but take my word; only someone who lives with the pitfalls each day can really speak to them.

If I could be granted one wish from the gods of financing it would not be for more money, but rather for keener skills in money management. I long ago ceased to gripe about salary and it has indeed been many years since I’ve last uttered any word about a raise of pay. I don’t live within my means by any stretch of the term but I’ve at least recognized that as the key to being wealthy.

The number one truth when is comes to building wealth is this: Wealth comes from the proper management of money, not the excess of it.

The facts are these: I make significantly more than I used to at my last job, and many times my salary of just a few years ago. In my attainment of what some would consider “decent” compensation, I have only managed to plunge myself further and further into debt. I’m not about to file for bankruptcy anytime soon, but the point is only to show that the increase in monetary intake doesn’t equate to a proportional increase in wealth and can in fact have the opposite effect.

Over the years I’ve made great strides in my quest to achieve financial freedom and then some. My aim is to live a life that grants me all the time in the world to sleep and eat Ox Tail (my absolute favorite dish next to ripe bananas). Again, due to my frivolous lifestyle and uninspiring work ethic, I’ve not been able to quite get there. Notwithstanding, I was clear on where and what I was trying to accomplish. Something I call Perpetual Income. In essence it is income that, from it’s mere existence, generates more income. This is something that most of us enjoy through the passive investments made in commercial banks and the like, however the generated income tends to come from a fluctuating rate which almost never goes beyond single digits percentiles. While this is the essence of the principle, for persons with less than stellar investments it may prove to be an insignificant endeavour; certainly not one that could solely maintain a lifestyle of eating and sleeping without an exchange of sweat equity. Given this, more proactive investments mechanisms are needed of which there are many. This isn’t an investment tutorial so I wont go on any elaborate analysis of the pros and cons of the different scheme. You need only understand that the right combination of investments, leveraged with a frugal, budgeted lifestyle can give you the sleepy eyed, meat devouring days and nights that I so long for.

I say again that the (somewhat obvious) advice given above is not followed by yours truly. This is a “do as I say, not as I do” moment. Had I the willpower to dispel this penchant for impulse buying and fine liquor I could very well be talking to you from the other side of the fence, but I wont let my dire situation prevent me from spreading the good word.

I’ll probably revisit this topic in the future. There’s much more to tell and I just wont sleep well at night unless I know that someone out there is doing the right thing even though I can’t. I’m off to find some Ox Tail.