Money - some key ideas - Deepstash

Money - some key ideas

Be wise about money and let God alone drive you for who you are supposed to be and to do.

Don't let money define you. They are only a tool and they have only four jobs:

  • spend
  • save
  • invest
  • donate

Here is an example on how to divide money to fill those categories:

  • 60% necessities
  • 10% emergencies
  • 10% investment & learning
  • 10% donating
  • 10% fun

You are free to withdraw from any category and add up to another. But this is a good starter for most of us. 

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First manage the money you do have, then use your money to generate more money. You don't need to think about investing until you're out of debt and have multiple ways of generating income.

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Stoic investors make smart, balanced bets. Most of us invest in secure funds with low returns. Investors looking at bigger returns opt for index funds. If you are okay with losing money, that does not mean that you should.

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