How I’ve Changed

Can we all have a simple strategy for our money?

Finance could be the only field where simplicity almost always trumps technicality. The moment l started on my own personal finance quest, I did everything everyone does when they become obsessed with something. I started diving into all of these blogs and books and articles on the topic. Thinking the more technical the better. Thinking this is how l can gain the skills to build wealth.

I was wrong…

It’s like l ended up doing a full circle. The realisation that it doesn’t need to be hard. The realisation that it’s how l thought, not what I did. The fact that mindset is more important than knowledge for building wealth over time. I discovered a few key principles and a long time horizon and have patiently watched the magic happen ever since.

My guiding principles in no particular order.

• Spend less than you earn
• Avoid debt
• Invest the difference

Learning investing ideas and topics beyond these basic principles is noteworthy, yes, but not really the areas we should be focusing on. They won’t move the needle as much as these three principles will over time.

I often wonder why I was once a careless spender with no ability to save money. I’m still the same person with the same personality traits. Now, however, l save money well and invest regularly and am patient in making purchases.

Whats changed?

I think it comes down to finding a purpose in life. I feel l’ve found my answer to a better, healthier and freeing life. Realising financial independence is my answer. Understanding this relationship with money and how we can get back our time with it has had a profound impact on me and my lifestyle. I’m hopeful one day it can do the same for others as it has for me.

By starting with these three simple ideas l feel anyone has a chance to change their lot in life.

Be patient, Stay curious.

J.H.Repetto