Spend money on the things you truly love.

Hi all,

what do you spend most of your money on?

For a lot of us it is not what we love doing the most, for most of us it is all those constant bills and obligations we have to obey with!

Now, I have managed to eliminate a large chunk of my "obligations". Be it the monthly internet bill or simply the dinners out and about. By streamlining my expenses I have managed to save pretty much half of what I earn. Yes 50% of all the money I earn I save.

How did I do that you may ask?

I got rid of my television and my internet bill. I bought my phone outright and no it's not a $1500 Iphone!

I got rid of my phone plan and I saved about $35 per month just by doing that!

Most of us subscribe to a bunch of things that we don't even know we've subscribed for in the first place, but we still pay for some of them!

So I streamlined all my subscriptions and culled them!

I have changed banks and eliminated banking fees altogether.

All of those things were a little time consuming and a bit of a change but more than worth it.

You tend to get creative once you've built up some saving momentum and it is actually a lot of fun.

Start with some simple things like your morning coffee. I'm not saying don't have your morning coffee from your favorite cafe, but maybe limit it to once or twice a week.

Once you have mastered your expenses you will soon have freed up a fair bit of "spending" or "fun-money" you can out towards your favorite hobby or save up for an amazing holiday trip.

Put that money in a separate account so you a) don't go overboard with your spending and b) don't feel bad for actually spending the money, since that's what it's there for.

Let me know if you've got thoughts or questions on any of the above, I'd love to hear from you.

Also share my stuff with everyone you think could benefit from it!

Thanks

Until next time - be bloody awesome!

How to protect your downside.

Hello people,

welcome to today's post on how to protect your downside.

I can almost hear you say: "What do you mean by that?"

Well, what I mean is how to protect yourself from either paying too much for something, say a car or a TV or that guitar amp you like.

But it also means that when you buy something, you will always be able to sell it for at least the same amount.

For instance: Say you want a new car and you go to the next dealership to look at a brand new car. While it's probably an amazing feeling to drive off in your brand new vehicle it is also true that as soon as you drive off the yard, you've lost somewhere between 10-20% of the buyprice!
To keep things simple, let's say you buy a $50.000 car.
You're happy as Larry and drive off the yard. On your way home you change your mind and turn around to drive back to the dealer who now offers to pay you only $40.000 because it's a used vehicle now.
Instant loss of 20% that is! In other words you haven't protected your downside!

Next example:

Let's assume there was a demo vehicle parked next to the new one you were going to buy, same model same features for only $40.000 instead of the $50.000. Why not buy the cheaper one  and protect your downside?

In fact, you could even sell it to a private buyer and make a gain on it...

This is how you protect your downside.

I often call myself 'the second hand guy' because I buy the majority of the things I would  like to buy second hand, be it clothes to computers, music instrument and equipment, cars and other things.

Matter of fact I even pick up stuff off the side of the road, fix it up and sell it or keep it myself.

As the saying goes "one man trash is another man's treasure"

How to effectively protect your downside in three easy steps:


1: Do your Homework:

When you decide you want to buy something like a car, do you research and don't rush it. Thorough research will pay it value in gold! Before just buying any car find out what the weaknesses and potential faults of the car are. Find out how much fuel it consumes and how much it costs to run it.
Talk to people who know what their talking about. In other words, do your homework.

2: Be flexible:

Don't get caught up with little things. When buying anything really, there are always details that are 'nice to have' but rarely a make or break. Think about the thing most crucial to you and be prepared to make a compromise. After all, you don't always get all the bells and whistles for cheap.

3: Make sure you don't buy overpriced:

When you buy anything you want to make sure that you don't pay more than what it's worth.
Sure that sounds pretty obvious but we often do exactly that. Sticking with my example car purchase, you must know exactly what it is worth and do not pay any more than that. You want to be able to sell the car, guitar, (fill in the gap) for more than what you've paid for it.
That is important as it is the mentality of WINNING.

4: Resist your emotion:

Do not let your emotions get the better of you. You must crunch the numbers and know exactly what you can afford and what is too much.
You know you've paid too much when you can't sell the XXX at least for what you've paid for it.

5: Be patient:

I have found patience to be the ultimate winning strategy. If you are bound by a deadline you tend to overstretch your financial ability or budget. If have found that the ability to postpone gratification does wonders. It's almost like putting your desires into the universe and the universe somehow receives it and eventually delivers on your wishes. I know it sounds cheesy but it works for me. Bargain pop up as if they are there just for you.

So there you have it.

I hope you get a ton of value out of this post and would love to read your feedback.

Until then - stay awesome!

How do you spend your time?

Hi all,

today is another fairly busy day and it's late evening now.
So since I haven't got a TV the question often arises:

"What the hell are you doing if you don't have a telly?"

The answer is I sit here and write a blog-post. Also I read books, mostly on personal development and finance.
Or I exercise (since one of my goal is it to be at least 100 years old and still up and running) and then I spend a fair chunk of time with my significant other, enjoying the time we have together.

Whatever I do I try to spend my time wisely. I hate wasting time.

Time is the recourse that can help change the course of my life for the better.

By studying and exercising and learning and practicing I have the chance of constantly improving, slow and steady.

One day I may even be an overnight success.

Like yourself!

Use your time efficiently and make it useful. Don't waste it concerning yourself with what other people are doing (many of which are fake anyway #jones's), instead find something you love doing, get really good at it and make it work for you!

You've got the power to change your future! It is your responsibility to the world to work on yourself and fulfill your potential!

As always, be awesome!

The Importance of eating together!

Hi all,

I've been asked the following question the other day:

"Do you and Alex always eat together?"

I looked at my coworker with what must've been a very funny face and said:

"Yes, of course!"

To my surprise she didn't think that is really normal and said it was really cool that we do that...

Look! It's really important that you and your partner/family sit down and eat together.

"Why is that?" you say?

Because it makes a family bond together, it breaks up the day from the business and craziness we all have to deal with!

Oh, and by the way - no phones on the dinner table!

You've got to use that time to enjoy the presence of the other person(s). It has historically been an important part of family cohesion. Just think about tribes somewhere in Africa. They do lots of things different to how we'd do them, but one thing is for sure - they eat together!

If you value the people you spend most of your time with, you may want to make dinnertime a priority and take the time to breathe and 'life that moment'.

We often life like there's no tomorrow, and one day that's true.

Until next time - be awesome!

I've got 400 ounces of pure gold!!!

Me holding a 400oz bar of pure gold!

Hello people,

I've been on the 2019 Gold and Alternative Investments Conference at the Sofitel Hotel in Sydney this weekend and I must say it was an impressive experience to see and talk to so many high level individuals (in an Investing and monetary sense) and also learn so much during the back to back presentations.
Basically the entire event was all about precious metals like Gold, Silver, and others and what role they all play within the global economy, now and in the future!
Another big topic has been of course, crypto currencies like  Bitcoin and others and what their good and bad at.

I have had the utter pleasure to hold a huge 400oz Gold bar worth around AU$890000!!!

Boom! Mind blown!

Me before the conference in front of the Sofitel Hotel Sydney.

Also have I learned of an entirely new precious metal, namely Osmium!

This stuff is so bloody beautiful that I would've liked to write out a check immediately.

Other big companies were the Perth Mint (they do all official government Silver and Gold coins and bars) and ABC Bullion who hosted the event.

In my own personal opinion I think that precious metals like Gold, Silver and others have a significant potential upside in the years to come. As a rule of thumb you can say that Silver and Gold create a pretty decent safeguard in times of economic upheaval which is precisely what were in at the moment.

Expert Q&A at the close of the conference.

As far as Bitcoin and other digital currencies go, I think they are definitely here to stay, but I am personally not confident enough to make a move and put any money towards them as the volatility at the moment is just too unpredictable for me.
But again that's just me. If you are comfortable with the potentially huge losses of your investment money, go for your life!

Just remember, those who spent their money on 'investments' they don't understand are not investors but gamblers.

It was a great experience and a great place to pick the brains of very intelligent people.

The best way to get better at what you do is to actually do it. This was probably one of the main reasons for me to attend this conference.

If you'd like to discuss some of my points of view regarding investing in precious metals and why I think it's a good idea, please get in touch as I'd love to answer questions and shed some light on how and why to do it.

Until next time - be awesome!

Mario

What do you life by? Feelings or Principles?

Hello lovely people,

do you life by feelings or do you life by principles?

What a weird question, right?

It's an important one though, here's the thing:

Those who life by feelings will never get anywhere financially.

These people are always buying stuff to satisfy their desires and give them pleasure, but pleasure is not beneficial at all.

Don't believe me? Ask a drug addict how beneficial pleasure is to his overall life goals!

If you feel the constant urge to buy stuff and spend most of your money on things you do not really need and end up saving little to nothing of your income then this may be you!

This was definitely my way of life for a long time. And my finances were evidence.

Those who life by principles are financially often a lot better off than those who don't.
This is in part because of their ability to delay gratification (this is to postpone spending money) and also because of the habits and methods they have developed when it comes to money management.

Those people more often than not have a certain saving amount deducted from their wages and have their investment strategy in place and most importantly - they stick to it.

They realize that the pleasure of having plenty of cash which ultimately enables them to life the live they really want to life far outweighs the short term pleasure of the latest gadget they may feel tempted to buy.
So they won't buy it.

If you have a certain goal for retirement like I do (retire by the age of 40) you have to realize that this is anything but impossible. There is a road that leads to where you want to go, but you have to take the necessary steps to get there.

You are the only person to blame for your shitty bank balance, realize that and take 100% ownership of it!

Hope that helps.

Leave your questions and comments below. Also, make sure to subscribe to get regular updates.

Until next time - be awesome!

Why can't you do it?

Hi you awesome people,

In this post I'd like to expand a little bit on my last post. Click here to read it now.

In the last post I talked about others telling us we can't do this or that which unfortunately over time embosses this idea into our minds, like scar tissue that you can't get rid of.

Why do all these people tell us we can't do the thing we got in our minds?

Well, I believe there are a few reasons for this and my thought may even surprise you a little.

Basically there are two categories of people that tell you this.

1.Work mates, loose friends, some family members and possible competitors .
2.Close friends and family 

Why do work colleagues and occasional mates tell us we can't do 'that'?

I think it is not very uncommon that people play our ideas down and redicule them. It is often for the reason that they themselves are not capable and or willing to pursue your idea, although they like it. Some people would rather not see you flourish and have success with your idea. Everyone has the need to be significant. Oddly enough I believe that a lot of folks out there try to keep their workmates and loose friends within their limitations and would hate to see them prosper and growing better and more successful and in a sense "out of their league".
You know by telling people they can't do 'it' whatever 'it' may be, they themselves don't have to stretch as much and they keep their mates within their vicinity as well. Nothing to worry or feel insignificant about, right.
If their mate prosper on the other hand, and they themselves staying where they are, they are not expanding with them...
Basically what I'm saying is this:
I think a lot of people have a problem with Jealousy.

People are limited only by what they believe in. The naysayers will never get anywhere because of the limitations he has put up for himself, like a thick brick wall.

I also believe that people tend to measure your ability to achieve something by what they think they themselves are able to achieve. It's not the right yardstick to measure YOUR potential with!

Why do our closest friends and family tell us we can't do 'that'?

I believe that the people closest to us generally have good intentions regarding our well-being and success which brings us to this burning question.

Why the hell are they telling me I can't do it then???

Being the people like our parents, siblings and best friends they would absolutely hate to see us getting hurt or burnt by an idea they thought you wouldn't be able to pull off.

Generally speaking I think their most important goal is to protect us from harm. To protect us from the grim world out there.
By trying to protect us from that and almost forcing us to go to school, get good grades, get a job and work up that corporate ladder, or if not up the corporate ladder at least get a job in a large company with good benefits that will get you through life safely.

You see, if you stay in that soul-crushing office or factory job, you'll be safe. And if that's all you want and need - great!

The day I started my apprenticeship back in 2005 I knew it wasn't for me! But what do you do right?

Today 15 years on, nothing much has changed, but my consciousness has evolved (very very slowly, I know) and I now realize that I was not born to go to work, ask my master (boss) if I can use some of MY time to do what I want to do (aka holiday).

It's a weird way of looking at it, but is our sole purpose of life to work, pay bills and die?

How about at least trying to fulfill our potential?

Look, I'm no Einstein by a long shot, but I do believe that no matter what anyone thinks about your potential, you owe it to the world to give it your best shot and keep trying.

Imagine this guy by the name of Thomas Edison would've given up when his teacher told his mother that he was mentally retarded. This apparently retarded kid has invented the lightbulb. It only took him 1000 unsuccessful attempt to make that happen! He later founded one of the largest Companies  in the world General Electric.

You've got more to give than a lot of people think possible.

Go and make it happen, because you can!


Until next time - be awesome!