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Life Habits & Tips: Part 2 - How to use money

They say money can't buy love or happiness, but using money wisely can really improve your quality of life.

Here are some of my personal best practices:

1. Just saving it
Putting away money in a savings account wasn't just good for my financial health, it was good for my mental and physical wellbeing as well.

By tracking and taking action to eliminate or substitute wasteful expenses I was able to save an additional 10% of my monthly salary, which added up quickly.

Lea & I have a little money in property and financial investments, but it wasn't until my personal savings account started growing that I felt more at peace and less stressed.

Having some investments are in themselves pretty positive and important, but it's not as liquid as cash, so mentally the feeling of security does not translate as well.

Growing a cash account until it can sustain you for at least a year in case you lose your job or have an emergency should not be looked upon lightly. Oftentimes I'll log into my online account just to take a look and see how I'm doing and try to figure out how much more I can save each month.  It feels like a warm comfortable safety blanket ;)

2. Spending on others
Science has proven that we feel happiest when we spend small amounts of money on people that we care about.

Here are some examples:
- Buying your friends & family tea/coffee/wine/a nice meal/ all of the above
- Buying your dog or cat (or pets belonging to family & friends) some nice treats
- Donating a small amount each month to a charity you care about
- Insurance plan for kids/spouse/loved ones

3. Using money as a time multiplier
Money can be spent in such a way that helps us automate tasks or free up large amounts of time for other things.

Certain ways that spending some money can help to save time in the long run:
- Getting a robotic vacuum cleaner ( I haven't bought one yet but probably soon)
- Some basic fitness equipment for home workouts
- Those fancy elastic shoelaces that come with a pull tab so that I don't have to ever tie my shoelaces again
- Drip coffee device and two Thermos bottles (I brew us each a large flask of coffee in the morning and we take it to work. Saves us the trouble of buying coffee plus we don't need to eat breakfast)

Note: I try not to spend any money on stuff that will end up taking up more of my time instead of freeing it up in the long-term. In 2016 I cancelled our satellite TV.  We currently don't have a broadband subscription and we don't use Netflix, iFlix, Spotify etc.

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