Status Updates From First to a Million: A Teena...

Finally, it talked on the basis of investing, and on how one should never invest in something they aren’t knowledgeable on. Overall, I have started doing most of these. The only thing holding me back, is finding an income stream. I hope I can find one soon so these ideas can start to flourish.

I just learned a little on saving and investing. For starters, the book talked about the things holding baxk people from saving, like comparison and the culture of consumption. Next, it talked about how to save, like through multiple bank accounts, namely the emergency fund, future investment fund, and fun fun. It also talked about savings rates, and how to calculate them, as well as how you must pay urself first

starting to move into an apartment, as you have the freedom to choose one close by. I think for me I definitely need to start looking at my monthly expenses and see how much I spend on eating out, just so I can get an idea of what I need to cut out. Great stuff though.

Just finished reading on the Big 3 expenses and tracking. Its actually different from what I usually hear. People usually talk about trying to minimize the small expenses like the morning coffee, but the book emphasizes the bigger expenses: housing, transportation, and food. House hacking is honestly pretty smart, especially for someone just buying a house. The no-car thing can definitely work when you’re just s

It allows you to get the most out of the things you have and do, whilst also saving some money. The latter would be you being miserable just to save money.

I just finished reading on income opportunities and frugality. Theres honestly lots of good ideas. I’ll need to look into working at a library or even hopefully getting an assistant job at a hospital or other healthcare related institution. Vending machines might also work too. I also think frugality being defined as prioritizing your money on things you value, rather than just “spend the least money” is smart

Why you’re interested in the topic, but also what things you might need to improve on. Overall, I love the book, and cant wait to read more.

I LOVE THIS BOOK. Chapters 6 and 7 were ones that really resonated with me. I love how the book emphasizes people’s “Why”, and to not just do things for surface level reasons. Its exactly the same as the 7 Habits of Highly Effective People, and will help people in every aspect of their lives. I also love how chapter 7 clearly lists out the habits and characteristics of entrepreneurs; you can really understand

our happy list are cost free. The big moral: FI isnt to buy more stuff; its to have more time to do the things you love.

marked: it goes back to its base level after a certain period. This further informs us how more money wont necessarily make us happy for long. Similar was seen with the happiness curve: after a certain point of spending on basic needs, comforts, and luxuries, more money did not bring more happiness. Often, more stuff only makes us more unhappy. Still, we try and get more stuff to make us happy, whereas the things on

I’m loving this book. Chapters 4 and 5 talked almost completely about happiness rather than money. It explained to us how most of things that make us happy are cost-free, aswell as that we often sacrifice our dreams simply to do something already planned for us or that makes us money. FI tells us we can still have our dreams, and be financially independent, and young. It also taught us that our happiness is bench

ant asset of all.

I just finished Chapter 3 and learned about the FI equation: Passive Income + Asset Withdrawals > Lifestyle Cost. Its pretty simple, but also so very hard; kind of like being fit. To get FI early also means doing things that others don’t usually do, which makes it a sacrifice, though its one very worth living. Early FI isn’t for everyone, but its definitely a path worth considering. It saves time, the most import

A genuine interest for some. Getting FI early gives almost all the same benefits, but more.

I just learned about some of the realities of going about the usual path to the American Dream. 40-hour week? Wrong - Usually 60. Get payed well? Not really. Only around 15 dollars an hour. Free time? Non-existent till your 65. Your family is definitely on the backburner. Now obviously its not a wrong path, but people can get stuck doing it even though they hate it. It shows why not working the usual route should be

By reaching FI, many quit working, do a job they love, etc. But overall, they get decades worth of time to do anything they want, contrasting heavily with what the everyday 9-5 entails. Many try to criticize FI movements like FIRE, but they mostly do so because they weren’t passionate enough, went to the extreme, or simply didn’t try in general. FI, however, allows individuals to get loads of time, and CAN work.