The best financial decisions I’ve ever made
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Dear Reader, Today, I am going to share some great financial decisions I’ve made, some intentional, some by accident, in the hope that it can help you improve your finances, too! When you look online about making good financial decisions, people always talk about:
And yes… those things matter, but the reality is… All that stuff can be quite boring and unrelatable, especially if you have no knowledge, confidence, or even the extra money to save or invest? So instead of sharing what sounds smart… I want to share the financial decisions that actually made a difference in my life. These are real human decisions that impacted my finances for the better Because, unlike what most people think, finances and money are an emotional topic. You could have all the budgeting spreadsheets in the world, but if you end up blowing all your money on expensive chocolate cake every day….. What’s the point in using one? (Can you tell I am craving chocolate cake? O_O) So, here are some decisions that improved my finances for the betterBefore we delve into them, here is a quick note from today’s sponsor!
1. Marrying/Dating Someone With The Same Money ValuesThis is a big one that people don’t talk about enough. We spend more time reviewing starters on a food menu than we do reviewing the financial values of our potential partners. O_O You don’t realize how important it is until you date/marry someone who has clashing financial values with you I know someone who budgeted, saved hard, counted every penny, used to avoid going out and meeting friends, just so she could save more…. having to CONSTANTLY bail out her partner financially Every 10 steps she took forward, he would drag her back 20 steps. He was up to his eyeballs in credit card debt, but REFUSED to take public transport. Taxis all the way, babe… No cooking, takeout most days, and designer clothes… but needing to be bailed out every few months. My husband and I are aligned when it comes to money. I asked him what he was saving for on our second date and, discreetly (and not so discreetly), asked money-related questions soon after. It’s hugely important to me for my partner to have similar money values, We think similarly about:
That removes so much friction. Money decisions feel easier when you’re moving in the same direction. By the way, if you want to pay off your credit card and mortgage debt in half the time, these two guides will help!
2. Not spending a fortune on my weddingWe had our wedding in my auntie’s back garden in Cornwall. It was simple. Intimate. Meaningful, and SO MUCH FUN! We invited 30 people max, and focused on delicious food. I bought it online for USD70, loved every inch of it 🙂 And most importantly…we didn’t start our marriage in debt. I know many people say this is a once-in-a-lifetime opportunity! But I personally think there are plenty of opportunities for joy, family, and fun in a marriage, which can be facilitated with more money and less debt. If you are feeling the pressure to conform and sink lots of money into a wedding, just know you don’t have to! You do what is best for you.
3. Shared accommodation, even when I earned wellI assumed everyone did this until I spoke to a Get-Out-Of-Debt student who had over 50k of credit card debt, was about to get her car repossessed, but point-blank REFUSED to give up her 3-bedroom apartment. Didn’t want to rent or Airbnb it, or downgrade to a smaller apartment because … it just wasn’t an option. The ironic thing is, she would lose the apartment in a few months if she carried on with her current situation anyway I know our home is our sanctuary and all that, but you need to live according to what you can afford And maybe, temporarily, you can only afford house sharing. Even when I was on a higher salary…I didn’t rush to upgrade my lifestyle. I shared accommodation and kept my expenses low, which increased my savings and cash buffer That decision gave me breathing room Now? We live in a mortgage-free home in a beautiful, expensive neighborhood 20 minutes from the city, nestled in greenery with a beautiful garden. The early temporary sacrifices helped me buy long-term pleasure
4. Not buying a luxury carPlease repeat after me: a car is not an asset. It depreciates and likely costs you huge, unnecessary monthly repayments And when they break down, the parts and cost to repair them are so expensive that it makes your nose bleed and eyes water NO THANKS I’ve never owned a luxury car, I’ve always chosen:
Low maintenance. Low stress. Cars lose value quickly. I’d rather put my money elsewhere. Like an income-generating asset that can pay for my retirement 5. Focusing on increasing my incomeThis was a major mindset shift. I remember taking pride in cutting out meat and lattes and whittling down my expenses so much that I was surviving on very little The issue is, there is a limit to how much you can cut. But no limit to how much you can earn! (I also really like eating meat, and being generous and treating people to food and gifts, which means I need to earn more) Instead of micro-focusing on cutting every small expense… I focused on increasing my income. Because:
This is where things really changed for me. I started by revamping my resume and applying for higher-paying jobs. Slowly with each job, my income imcreased! One of the easiest ways to increase your income is to get a better job — this will help: 6. Investing in income-producing skillsThis goes hand in hand with the point above. I focused on learning how to earn more. Things like:
Skills that continue to pay you back over time. These skills also helped me build more passive income, which wasn’t tied to my time You can learn these skills in a weekend here: Blogging: Digital Products: Affiliate Marketing:
7. Investing in my mindsetBooks. Learning. Growth. Not just “how to make money”… But believing that I could make more. My mindset improved during COVID after I read so many self-improvement books, and my income suddenly skyrocketed! Reading mindset books helped me
Here are some books I read that helped my brain and confidence
8. Moving to a lower-cost countryThis decision still pains me because NZ and Ireland are so FRIGGING BEAUTIFUL And they are perfect for outdoor enthusiasts like me BUT- both countries have an extremely high cost of living Moving from a high-cost country to Malaysia changed everything for me. My expenses dropped, my cash flow and flexibility increased. (Malaysia is also beautiful with a tropical climate and excellent fruit) And suddenly, the same income went much further. I am not saying I won’t move back to either of those countries, I just want to put as much as I can away during my best earning years, so compound interest can do its thing! Note: People often move to higher-cost countries for higher salaries; however, that’s not always the case. Do the math before moving to a higher-cost/higher salary country. My husband is a school teacher, and he gets paid WAYYYY more in Asia, where costs are also less. Lots of expat jobs also pay more here. Look into getting a transfer if you can, even if it’s only a couple of years 🙂
9. Learning to enjoy free hobbiesLook, pickleball enthusiasts don’t shoot me, I know it’s all the rage now! I got caught up in the pickleball storm for a bit until I realized I was paying a shit ton for every hour, and it all adds up, especially if you want to play a few times a week! This made a bigger difference than I expected. Instead, I’ve learned to enjoy simple, low-cost things like:
Not everything that brings joy needs to cost money, and when your lifestyle isn’t built around spending… You need less money to feel happy. My question to you is: what hobby can you do that is low-cost?
10. Learning how to meal plan and cookThis sounds small…but it adds up a lot over time. I actually learned this from my friend when I visited her house and spotted a meal plan on her fridge. ‘We buy groceries once a week and reuse the ingredients in the week, so we don’t waste. It also saves you time and money as you aren’t popping into the grocery store a few times a week. And also stops the dreaded daily question: what’s for dinner? We plan it all on Sunday!’ Cooking at home helped me:
Meal planning also reduced waste and made daily life simpler. Now I have a baby, my time and energy are even more limited than ever, so planning ahead prevents decision fatigue and burnt out! 11. Working in a call center collecting debtThis was my first real job and also one of the most unexpected financial lessons. (Actually, my first job was working in an African American hair salon. I learned how to dreadlock hair and cut hair too! That’s a story for another day….) Working in a debt collection call centre, I saw first-hand:
It also taught me:
All incredibly valuable skills. I also say, if I lost everything, Im not too proud to do any job! Call centre, cleaner, waitress, whatever! Take pride in any job you do 🙂
12. Learning to find joy in the ordinaryThis sounds cheesy, I KNOW! But it might be the most underrated one. I used to run away CONSTANTLY. Book a flight to somewhere random and exotic to escape from problems and boredom. Escape first, look at the cost later And I am ALL FOR new experiences and travel and not getting stuck, but there comes a point when you need to find ways to experience joy in the NOW, the here, and the normal. I stopped needing constant upgrades, new things, or big experiences to feel happy. I found joy in:
And when you don’t constantly chase “more,” you spend less. You feel more content. And your life becomes lighter. (while your wallet becomes heavier :)) In simple terms, here’s what actually helped my finances
What it all comes down toMost of these decisions aren’t complicated. They’re just intentional. Before you go… What’s one financial decision that changed your life? Just hit reply and tell me I read every response. Thanks for reading Aisha Preece from Outandbeyond.com PS: I share my bare minimum low effort strategy to grow my blogs on my Instagram stories — if you want more behind-the-scenes like this, come hang out: @aishapreece
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