I'm not much of a planner, but I play the tape through before making any decisions - especially financial decisions. I take nearly every opportunity to increase my net worth. I'm debt averse. I don't like debt, and I never have. Unless it's an asset, I buy things with cash, and I don't pay interest on what little consumer debt I accrue.
I don't think I have given much consideration as to why I behave in this way. I can definitely say that I saw my parents struggle through an ample amount of financial turmoil, and I never want to be faced with that.
I guess I should really consider how much these choices were made with an eye toward the future. I would say that I am always planning my next move - and that is what drives my decision making in the present. Over the past few years, that move was paying my tuition without borrowing (okay, okay, and also buying a cool car). That's now over, and I am focusing on saving in hopes of making some investments in property. In the past summers and even during the semester, you can find me working and employing friends to ensure that my business is profitable. All of these decisions I now think were made in pursuit of my current goal: investing in revenue streams that are a little more "hands-off."
As usual, I hope this is, in some way, salient.
I think your current actions really speak to looking toward the future. Saving for property and other necessities is a good practice.
ReplyDeleteHas your choice in major or involvement in other activities been base on the future as well?
I am also debt averse and can be a bit miserly on the spending side. I found things changed somewhat when I got married. The joint saving decision has to make the couple happy - so I caved in on that a bit. The marriage, too, is an asset that needs to be tended.
ReplyDeleteYou didn't comment on the study of economics versus possibly majoring in something else as investment decisions. Since you seem thoughtful about your business choices, I wonder if you are equally so about your school choices.
As both other comments mentioned, I wonder if choosing to major in economics was partially because of your awareness of money, debt, and investing, or if it was because you thought it would give you skills for the future that would help you to eliminate uncertainty. I agree with the idea of avoiding debt because of the future risk debt can cause. The fact that you are wanting "hands-off" revenue streams in the future also show that you are looking to avoid uncertainty.
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