How to get your money to work for you.
Many in the Western world, although having large incomes (compared with the rest of the world) and working many hours, still find ourselves living paycheck to paycheck or, worse yet, living on debt. In this state of being, I believe, no man can truly be free and experience life fully. So I have a list of the top five effortless things you can do to build up wealth and become financially independent.
First and foremost, you can assess your spending habits on a daily basis. I use this in my own life to open up margin.
Several times, I found myself shelling out $50–60 on a preorder for a new game title whose quality I did not even know; a month or two later, I would see the same game for $20–25.
If you are a coffee-drinker, you can save up to $1,000 a year: I’ll show you how. The average price of a drink at Starbucks is $3.75. If you go to Starbucks 350 days a year, or go multiple times a day amounting to 350 purchases a year – not including bakery items – you will spend $1,400 a year. You can have similar-tasting coffee at home for $400 a year, and to boot you can gain the skill of making very good coffee.
You can also cut your TV subscription. The channels that you do watch, you can sign up to watch online on much less money. The average American spends $104 a month on his cable bill and has 189 channels on average, but only ever watches 17.
The best habits to quit are unhealthy ones, such as smoking, alcohol, and junk food. These habits are extremely wasteful and moreover can harm your body, potentially costing you much more. On fast food, an average person in America spends about $1,200 per year; he consumes fast food twice a week, spending, on average, $12.50 per meal. On alcohol, an average person in America spends $500 per year, and this number jumps drastically if you include only men or exclude teetotalers. On cigarettes alone, the average person in America who smokes one pack per day will spend $2,011 per year. If you take part in all three of these habits, you may cut $2,250 per year if you just reduce your spending by half on these items – not to mention the health benefits down the road.
The second area is new vehicles. I do not mean that you should buy old cars: I do mean that you should buy cars that have been used. To show you what I mean, let us look at a new Volkswagen Jetta versus a 2015 Volkswagen Jetta. Kelley Blue Book says https://www.kbb.com/compare-cars/overview/2017-volkswagen-jetta-420254-vs-2015-volkswagen-jetta-406397/ that a new 2017 middle-of-the-road automatic Volkswagen Jetta is $19,800–21,500; its equivalent from 2015, with 25,000 miles, goes for $11,100–13,000. For one fifth of the car’s life, you get the car for little more than half of the original price.
The third area is home rent. The average American homeowner spends about one third of his income on housing. With the median home price at $188,900, the homeowner spends $1,126 per month, whereas the average renter spends $934 per month. But the average homeowner builds roughly roughly $425 a month in home equity.
Still it is not always the wisest decision to buy a condo, house, or apartment. If the market prices are higher than they are normally, if you expect not to live in the area for more than 2 years, or if you haven’t already built up savings in case you get fired, buying a home may not be a wise decision for you. Even so, you can also consider buying houses as investments to potentially make large amounts of money over time.
Fourth is debt. This may seem obvious, but the average household in the United States is greatly indebted. It has a credit card debt of $16,000, at a compound interest rate of 17.5%, and on that debt pays up to $3,100 a year in interest; in addition, it owes $28,000 in auto loans and $49,000 in student loans, whose combined interest is $3,000–5,250 per year. These debts, along with bad interest rates on houses, are quite a burden for American workers.
The last way you may be losing money is that you are not investing your money. Thanks to inflation, if your money is not invested, its value is decreasing; on the other hand, if you invest your money in the stock market, or in other investments such as houses, you can have your money grow at a steady rate and potentially even have dividends.
You may say, “How do I invest? I have no clue what companies will do well in the stock market.” If you are afraid of investing yourself there are things called “mutual funds”, in which Jews shuffle your money about and steal from you; or you can chose to buy “composite index stocks”, by which you invest in a diverse range of companies with low risk and almost certain returns. For example, had you bought one share of the Standard & Poor’s 500 (S&P 500) almost exactly 40 years ago, on April 1, 1977, when it was worth $99.21, you could have sold it today for about $2,367.34: almost 42 times the 1977 value. Whereas if you had $1 dollar in 1977 its worth would be equal to $4.50 today, and only being worth 1/4 its original amount.
Many of us in the alt right are under the age of 30, and we have the time to make 40-year investments. Opportunity knocks at the door: will you answer it?
I hope that this information has been helpful to you, and that you can use some of the tips to improve your financial state; for he who is not free financially is not free at all.