How to Waste Your Money?

Actually, there are lot of factors which led me to this state, BROKE. 

I was born poor. My father is a minimum-wage earner while my mother was a housewife. I was 2^nd to the last of six siblings. As you can imagine, life growing up is quite a struggle and was quite deprived of too many opportunities. My family barely had enough money to keep up with the expenses daily. But with perseverance and discipline, my parents managed to get all of us finish school with degrees.

After my studies, just like most young professionals, I have big dreams of amassing wealth after graduation. I was telling myself that once I get to work and earn, I’ll save and start my own business. And yes, I did get the job. I managed to save a little but as time went by as my earning went up a little so did my lifestyle.

1. TRAVEL

I am a firm believer that travel is good for the soul. It opens you to a whole new perspective about the world we live in. But because of my poor choice and lack of outright goals, I played the norms that you can see in social media. The typical millennial you see under the scorching sun in Boracay, Maldives or Palawan. I was happy with friends but every time, I went home crying myself to sleep after realizing how would I pay my travel debts?

You see, to keep up with this lifestyle, I took out loan after loans from my salary, savings and pay high interest rates on those debts. I was running the circle of debt and end up withdrawing all my savings to pay them all. I never regret traveling but I regret not goal setting, planning and saving.

Plan and save before you travel. This is the best way to reward yourself. Peace of mind is the best gift you can offer yourself. Don't feel oblige to join the norms of social media. Run on your own pace.

2. GADGETS

I was not only referring to cellular phones. You see, since I love too travel a lot, I also buy things a lot like tents, walking sticks, sleeping bags, traveling bags, cook sets, sports gadgets and the likes whatever find cool and handy at online stores. These add to reasons why traveling is expensive despite the cheap air tickets.

You can’t totally zero out this category in life but when buying things, think of its added value before any purchase. Will it help with your goals to be rich? If no then buy only the essentials. Smart buys are expensive but is quality-guaranteed. It will last you for a long time. Say you buy a new phone this year because it’s a good tool that will help you but it’s not smart to buy two phones just because the other phone is outdated. As long as it’s usable, make use of your money’s worth.

But if you looking ways how to get rid of your other gadgets, sell it if you no longer need it. It does not necessarily help to just shove it unto your closet. Try minimalist approach.

3. UNNECESSARY RTWs

Early twenties is a stage for lots of insecurities and uncertainties that were too huge for someone to digest. I was looking for too many answers and I end up reading articles to on things you need to do by this age and that without realizing I was feeding myself with wrong information. Lot of blogs would tell you to invest on these material things. You'll be lured to believe we need to buy branded and expensive clothes, shoes, accessories and the likes to be in the circle. Stuffs you accumulate just add to your clutter that keep on organizing. Try de-cluttering and let's see which is way better.

Things I mentioned are just some of the reasons I went broke. I buy and hoard too much experience and things that really don't give me value. See the young millionaires of our time how they live frugal and simple lives. Clothes or branded things does not define you as a person but self-confidence and attitude will.