As a kid I always thought I'd have unlimited money when I started working. I imagined the unlimited candies I would buy. That turned out to be a huge lie. I spent my first years working living paycheck to paycheck. Living like a DogeKing on the first week after payday and then proceed to beg on the streets until the next.
It took a lot of experience and a lot of $$$ lost before I finally learned my lesson. If only financial literacy was thought in school.
To prevent the rest of you shibas to go through the same painful road, here are a few tips to improve your cash flow:
One of my mentor always says "You can't manage what you can't measure." You cannot improve your finances unless you know exactly why its vanishing. When you list it down categorize them into the following:
a) Fixed Necessary Expense - Expenses you incur on a regular basis, has a definite value and is absolutely necessary for you to live on this earth. Examples are rent, transportation to work, insurance payment, internet bill(this is very important don't argue with the DogeKing), etc.
b) Fixed Luxury Expense - Same as above but is merely luxury. These refer to credit card payments, monthly subscription to Playboy, etc. You can manage these expenses by not incurring them in the first play. Cancel your subscription to Playboy and pay of your credit card.
c) Variable Necessary Expense - Similar to (a) but varies in value. This includes groceries and utilities.
d) Variable Luxury Expense - Similar to (b) but caries in value. This includes purchasing steam cards, buying shoes, buying luxury socks etc.
This can be done in several ways:
Pros: A higher paying job
Cons: With the current job market it would be very hard to get hired at a higher paying job without tons of experience.
Pros: More cash to spend on Playboy
Cons: Takes too much time and energy. Not to mention it takes a toll on you mentally and emotionally.
Pros: Side income, you can work and have a business at the same time.
Cons: There is a risk your business could go bankrupt. And although you can start some business with little to no money, it generally costs a lot to start your own.
Pros: You make your money work for you. Imagine waking up and see $500 in your account thanks to your investments
Cons: Imagine waking up and see -$500 in your account
This is the best investment you will ever make. Learn new skills to increase your market value or read books to increase your financial literacy to better manage your business or make wiser business decisions.
Here are financial books I highly recommend:
This book teaches you the proper mindset to have regarding money
Written by Benjamin Graham, the father of value investing. Warren Buffet calls this book the greatest book ever written about investing. It teaches you how to properly assess an investment before entering it.
Teaches you how to assess a company or startups value
I hope this post will help you eventually live off your paycheck and drive lambos on your private island. No seriously, take this lessons to heart and start being smarter about your finances. Work, Hustle, Repeat. DogeKing Out.
