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Hey there, hope you are well!

I’ve learned that with money, if you can get just a few small things right: you’ll easily be ahead of 99% of everyone else. 🙋‍♂️

So let’s dive into the signs you are doing better than you realise with money - if you score 3/5, you are in a GREAT overall position…

1. You are focusing on building skills over making money

Lots of people feel the main aim once they leave school or uni is to earn as much money as they can in the shortest time possible.

This was how I honestly my mindset when I left college.

But now I’ve realised if I want to become wealthy in the long run, it might be worth sacrificing short-term earnings today - so that I can instead build skills that will stay with me for life.

You might look at others around you earning significantly more, but who cares?

Don’t concern yourself too much with making money quickly. Worry about gaining skills quickly.

Skills will always pay more in the long run! 🏃

 What could this look like?

• Not getting a ‘regular’ job and offering to work for a startup for free

• Choosing a lower-paid job that allows you to learn more skills

• Taking a gap year to go all in on your side hustle / dream project

  anything that will mean a short-term sacrifice for a long-term reward!

2. You have access to more than one stream of income

You may have heard the saying:

“The average millionaire has seven streams of income”

I used to think this meant I should also have seven income streams.

Now I’ve grown and learned more, I’ve realised it’s stupid trying to build seven streams of income at once. Especially when you are just starting out.

Instead it’s better to focus your energy on building one thing super well at one time.

However, I do think it is sensible to have at least two ways you’re able to reliably make money.

This could look like having your main income stream (i.e your job or business) and then just a side hustle you dabble with at the weekend (like reselling sneakers).

Why do I think this? Nowadays, with the world’s shaky economy, no job or business is guaranteed.

You’ll thank yourself so much for having a side income you can lean into if one sh*t really does hit the fan, you lose your job, and need to find other money quickly.

3. You have a car that is fully paid off

According to Nerdwallet, the average amount someone owes on a car is over £7,000! 😖

As an 18-year-old, I was fortunate to have an income that is higher than the average person my age.

At times it did feel tempting to get a decent car on a loan or lease I won’t lie 🤫

Truth is, a car is literally just something that gets you from A to B. I

£3K - £4K can easily get you something (despite likely being boring) that will work and operate just fine.

Nearly a year ago I bought a 2011 Ford Focus for £5K. It was low mileage and has never put a foot wrong, or been any trouble.

Sure, it’s not the most flashy car, but I’d rather live within my means, than stress myself out by driving a car I can hardly afford.

It’s practical, has good boot space, is economical and has all the features I need: despite being made in 2011!

4. You understand how much money comes in and out each month

According to WTW, 36% of UK workers live paycheque to paycheque.

This means their monthly income completely runs out by the time the next payday comes around.

An easy way to ensure you don’t get caught up in this cycle is by having a basic concept of your monthly spending.

Understanding roughly what goes in and out each month. 🗓️

Things like Food, Rent, Bills, Subscriptions etc. etc.

If you don’t have an idea of what goes in and out, don’t worry!

There are tons of awesome apps that can connect to your bank account and use AI to summarise all of these things. My favourite is Snoop.

5. You consume content about money

Most people never end up getting any sort of financial education.

It’s not exactly the sort of thing that School touches on nearly as much as it should. ❌

This is why if you are one of the few people who actually consumes financial education content in their spare time, you are ahead of most.

This could take the form of listening to podcasts, watching YouTube Videos, reading books - whatever excites you!

But chances are if you signed up for this newsletter, you already do it!

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Disclaimer: None of the above is financial advice. This newsletter is strictly education and should not be taken as investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and always do your own research.