Money principles

 1. Income is only for a limited time. Expenses are forever.

2. Real financial freedom is not in what we are able to buy, It is in what control we have over our time.
3. Investment is more about duration than timing.
4. Save more, minimize or avoid debt.
5. People who achieve financial freedom save more and live below their means.
6. Taking loans and living flashy is a hindrance to financial freedom.
7. FI allows you to do more of what you love and less of what you hate.
8. buy quality companies, hold for 10+ years, don't over pay, keep track, sell rarely.
9. People: Sanjay Bakshi, Terry Smith, Nick Train
10. One up on wall street. beating the street, the little book that builds wealth.
11. Investing in India

I took an economics course on masterclass and one of the key concepts I learnt was this quote

"You are not getting your next meal because you want those ingredients, you are getting your next meal because the person selling those ingredients needs money to do something else"

That's why economy is important - it's the best model to exchange things we can't all own or produce.

Morally speaking , the economy may not be working fairly. We all start at different places. 

We all grow at different rates depending on the society we are at.

All things considered, whether it is fair or not there are two sides to the coin.

You can judge money or you can observe the world, learn about it and do good for yourself and hopefully others.You can work towards a more fair society. 

Money is not the only currency in the world. There are other ways to get what you want in the world. But usually there's an overlap with money when you expand how much you want to do. If you want more peace, more power, more good you usually need more money along with other mores.

Companionship, you may get though, with no money. 

I love money. It has helped me not depend on a parent or a husband since 2012 for a single penny. I split every cost with who I share it with. I did take a loan from my brother for my Masters in 2012 and paid it back in 3 years. It was a very pressurizing time but also taught me what I'm capable of. I was angry with him at first, and am thankful in hindsight that I have a tough brother who trusted me enough to fund me and ALSO did not trust me enough to push me to pay back. 

I used to be that naive person that thought money was evil. Money has actually kept me away from most evil. Money has kept me less lazy. Money has kept me financially independent which means the power to never have to compromise with anyone. Money has allowed me to help others in their education and accelerate their careers, it has helped me get people out of hard situations, it has helped me to contribute to organizations and causes. It is the fuel to all the dreams I have for myself and the world. It helps me indulge in food and education. Money gives me an identity - an identity that I may have some privilege but I've been responsible to build my own life and use my privilege well. It has also allowed me to be out of my husband's way - his commitments and indulgences. 

I've saved money by being cautious and sometimes even stingy and it only makes me happy when I know it will be put to something not-so-transient, and towards something I really want in life.

I'll always be proud about these things cuz I don't see the point in hiding what is the truth.

Where I don't indulge : 

- No offense to friends who enjoy these, but we don't smoke, don't drink and don't do weed. 

- We don't go to pubs and bars

- We don't go explore michelin restaurants.

- Our travel plans are usually road trips to a nearby city.

- Living in LA, everything touristy is nearby.

- I've lived with 4-5 people in a 1bedroom apartment perfectly fine, as a student, 7 years back.

- Even after I started earning, I found the best deals to stay - a loft, a shared room.

- Not a fashionista , don't need em racks of shoes, cosmetics and clothes. 

Where I indulge :

- Physical Training.

- We spend way more than we want to on take out food.

- Buying sustainable / organic

- Occasionally AJ buys gear for video gaming.

- An occasional function / game nights

- Rat's lack of accounting 

- Charity , in hard times, without budgeting enough.

- Pet - we love him and he's the best thing that's happened to us - he comes with a pet license, heart medicine, vet visits, insurance, dog food, treats and toys.

The sad side of money:

- It fuels an economy that produces and consumes a lot unsustainably.

- It proxies real human communication

- It can preoccupy you to the extent that you may forget to do things outside of money - like living.

- you may always want to have a sense of control and may never find a chance to see what happens when you give away control and let go.

- rich get richer, poor get poorer.

Other kinds of money:

- health

- time

- opportunity

- love

- community

- power 

- fun

- respect

- hope

- peace

Equity Vs cash flow:

- Would you rather be locked into a big beautiful asset like a house in California OR buy place in a smaller state, possibly generate passive income/cash flow, rent wherever you want to live and pocket some profits. Then you can live your life by spending that money rather than getting locked in.

- Assets always values more than cash. Cash can inflate. Assets appreciate.

I want to save more to improve my down payment, for my daughter's future, travel (hopefully sustainably), I have some projects in mind that I want money to invest in - furthering education, farm, foster home, furniture making, meeting people.