What I’ve Learned About Money (and Life)

• I’m happy to be a tortoise: Slow and steady sure does win the race. Sure, I could’ve graduated with a finance degree and started a career as an investment banker on Wall Street. But, I did not. Therefore, Mr. MMM and I are building our wealth one step at a time, with a much more colorful past I might add (read all about that here and here!)
• No, I don’t need fries with that: I LOVE fries, but I have realized over the last decade or so, that I don’t need to have everything. I don’t even need to go out to eat. This kills me, but at least it’s a money-saving move in the right direction.

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  Tattered boots are stylish: Gone are the days I aimlessly buy new boots just because the weather turns cool. These days, I wear the same boots year after year. If they need a repair, I either do it myself or take them to a cobbler. Yes, cobblers still exist. And, I’ve accepted the very real fact that tattered boots have a history and are much cooler than new ones.

• Clothes can last a really, really long time: Oh man, had you asked me a decade ago how long clothes last, I would’ve blindly told you about a year or two. I can honestly say that I have clothes in my closet as I type this that have celebrated their 10-year anniversary. And, they’re still in great condition! Yeah, clothes really do last a VERY long time. PROOF: Check our my clothes-buying ban here!
• Investing and wealth management is fun: What better way to make sure you’re doing everything right for your family than to research wealth-building strategies and actually employ them? Yes, I’ve come to love this practice. I love everything from writing this blog for our ever-growing community to listening to podcasts to and from my W-2 every day.
• Down with debt: Debt downright stinks. There really is no way around it. I’ve been there more times than I’d like to admit. So has Mr. MMM. We’ve had credit card debt, student loan debt, and mortgage debt. We still have mortgage debt! But thankfully, that’s the last debt we have. Over the years, we have learned to WAIT to purchase something until we have the money up front. We have also learned to evaluate each purchase before shelling out our bucks. And sometimes we decide the cost just ain’t worth it. Moving on.
• Small houses are awesome: This is probably one of the best things I learned over the last decade. I used to think I had to buy a big house to impress people and validate my success. A couple years ago I was able to toss that mindset aside and realize that housing size really doesn’t matter. It’s such a liberating feeling. Nowadays, we’re super excited to be rocking our small, updated home.
• More expensive doesn’t always mean better: This is so true. Many times we

  

  are taught to believe that a higher price tag automatically means better quality. This is, of course, sometimes true. But it is definitely not always the case. Due diligence must be employed for every financial decision. Case in point, my Mazda sedan gets me all around town just as comfortably as a BMW 5 series. And, my Mazda was a fraction of the cost.

• Time is money: I’ve learned to stop wasting time on things, TV, and even people who don’t bring value to my life. My free time is quite limited (as I’m sure yours is) and I can’t afford to waste it. For example, researching investments or rental properties over my lunch break is a much better use of my time than going out to eat with someone I barely know and won’t see ever again after they quit next month. #foodforthought
• My child doesn’t need EVERYTHING: Obviously, we want to give our child the best of everything. But realizing the best of everything means NOT giving her everything is a powerful thought to have in your mental arsenal. We truly feel that not giving our daughter everything is teaching her valuable lessons about life and the acquisition of goods and services. It’s also teaching her what WE have to do to provide her with a nice home, nutritious foods, and occasional entertainment.
• I don’t need to stay up late: Staying up late curbs my productivity and makes me grumpy. Trust me, no one wants to be around me when I’m grumpy. Not even me. And, there’s no way I’m researching investments or coming up with new financial strategies when I’m tired and grumpy. It truly is a waste of my time.
• Ice cream makes a great meal: Last but certainly not least, ice cream makes a great meal. Who cares if you’re ruining your appetite. In the words of Jerry Seinfeld, there’s another one coming right behind it. Yep. The absolute best part about #adulting is ice cream for dinner! ***And the crowd goes wild!***