We focus so much on making money that we stop to think about all the things we do to lose money. The equation of having a lot of money is simple, income minus expenses equal what’s left. If we increase the income we should have more money left, right? That is not always the case. With more money we are able to give in on the temptations to spend, simply because now we can compared to before when it wasn’t financially possible. The more we keep spending the stronger the habit becomes and habits are not easy to break.

I talk a lot about investing money in what adds value to your life. This quote very clearly emphasize that there is a difference between what you pay and what you get, and the difference can be quiet big. However, we cannot calculate a difference for each product that would apply for everyone because it is a very personal estimation. The value you get from what you buy is determined by what you value in life (makes sense, right?), and therefore the value will be different for each individual.

There is this thing about us human beings that we know exactly what we should’ve done once it’s too late to do anything about it. This means that we have known about it all along but for some reason we chose to ignore it or to take no action. Why? Most likely because by ignoring, it led to a more pleasant situation in the moment when we had to make the decision. We simply lack discipline. If we reverse the scenario and look at those who actually make the “right” decision in the moment, these people are often defined as people with discipline. But many of us don’t have that discipline in every aspect of our lives. Those many are also us who have to work out the consequences in the after math.

We keep thinking “if I only earned more money I could save more”, but we could keep chasing this thought forever. It doesn’t matter how much money we earn if we don’t do anything about our spending habits and actively focus on our personal finances.

Walking home from work I use to call my mum and a few weeks ago we had a conversation about how some people are never satisfied no matter how they live or what they own. Our conclusion were that you cannot become rich until you’re happy with what you already have.

The beautiful part about personal finances is that you have complete control over it, the scary part about personal finances is that you are 100% responsible for it. The financial situation you are in today is the situation you put yourself in. Everyone has different starting points in life, some are born into a family with more money and some with less. It is the financial journey you take in life that is up to you and you are the one who determines where the financial finish line will be.

Katherine Whitehorn, a British journalist born in 1928, once said this quote that came to be one of my favorites. Understanding how to manage money is based on respecting money. When money is limited you not only have to manage it but you also learn to respect it.

Nathan is a personal finance expert and he spreads his knowledge through writing, speaking and coaching finance. He is an advocate for debt-free living which we can tell from this quote.

Let’s think about what a loan is.

Andy Williams, a musician who started his music career in the 50’s, said these words. Unfortunately, today this is still true.

As we use to say here in Sweden, a beloved child has many names, or in this case, a wise quote is said by many.Robert Quillen, an American journalist, wrote this in a column in 1928 and he is one of many who has made a version of the quote.