How We Use Money

There is a natural tendency to spend the money we earn, instead of saving or investing. If we watch how rich people utilize wealth, we can learn a lot from them and change our financial mindset.

One has to invest money no matter how less the income is, choosing something that is secure and gives decent returns, like an index fund.

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We need to adopt healthy financial habits, taking care of our money and trusting the process that builds wealth through saving and investment.

Keep content with your current life and enjoy what you can, while saving big. As you grow into your thirties and forties, save and invest as much as you can.

The more we learn, the more we can apply that to create value for other people. The more value we create for others, the more we would earn.

Like knowledge, one has to be generous with money, trying not to cling to it. Even if we lose some money in some get-rich-quick scheme or dumb investment, we can easily earn it back, provided we don’t lose our character or soul.

Remember that money is freedom.

Whenever we buy something, we are giving up our time and freedom, because if we save that amount, and become extremely rich, we would have a lot more freedom to do whatever we want.

Don’t be scared of what will happen to you when you retire. If you have followed the basic principles of saving, investing and learning(self-improvement), you will do fine.

Have a year’s worth of financial buffer and work on your skills to keep improving and seeing more money added to your account as you progress.

  • Renault Zoe - 394km (245 miles)
  • Hyundai IONIQ - 310km (193 miles)
  • Nissan Leaf e+ - 384km (239 miles)
  • Kia e Niro - 453km (281 miles)
  • BMW i3 120Ah - 293km (182 miles)
  • Tesla Model 3 SR+ - 409km (254 miles)
  • Tesla Model 3 LR - 560km (348 miles)
  • Jaguar I-Pace - 470km (292 miles)
  • Honda e - 201km (125 miles)
  • Vauxhall Corsa e- 336km (209 miles)
The Lifespan of an Electric Car Battery

Most electric car batteries are lithium-based and just like any other battery, they will degrade over time, which means that they won't be holding charge as long as they used to do and the range of it will reduce.

If you overcharge the battery or try to charge it at the wrong voltage then it will degrade even quicker. Always make sure to check whether the manufacturer offers a warranty on the batteries because most of them do and these last from 8-10 years.

It is significantly cheaper to charge an electrical car than to fill up a tank. The cost depends on the electricity tariff you're covered by, but most manufacturers will suggest that you switch to an Economy 7 tariff to pay less for electricity during the night.

The estimated average cost of each driver will use between £450 to £750 a year for additional charging for the electric car.

More and more places are putting in street charging points and lots of electric cars have apps installed in them that will direct you to the nearest charging point. If not, there are a host of websites and apps that will do the job.

Some public charging points are easy to use but there are also some that charge a flat fee for monthly access.

Charging an Electric Car

If you have a driveway and can park your car beside your house then you can just plug it straight into your domestic main electric supply. However, if you don't, then find a parking space on the street outside your home so you can run a cable out, but make sure to cover the wires to avoid tripping passers-by.

The charging time takes time and it depends on the size of your car's battery which can range from 8-14 hours or a full 24 hours.

Assign your money into a savings category in order to be prepared for both expected and unexpected expenses.

Some saving category ideas:

  • Emergency funds
  • Retirement savings
  • Fun money.

Managing your finances should be a daily habit. Make it a part of your daily routine to log into your bank account, check your balances, and look over your purchases.

This will not only help you keep track of your money but you'll also be able to keep yourself updated as to what your money is doing and be ahead of any possible issues in the near future.

Remove the daily, weekly, or monthly purchases that are not important to you or that you simply will not miss such as that extra charge in your phone plan or your gym membership subscription.

Identify what matters to you

Managing your finances and budgeting is all about removing the unnecessary so that only the essentials remain, similar to minimalism.

Other than financial necessities, in order to easily manage our finances, we must identify the purchases that matter to us because it's easier to let go of the things that don't.

You should never force yourself into a tracking system for your spending habits without examining your purchases and purging those that aren't working for you.

Even if you track your spending but you spend more than what you can afford, you're only giving yourself a false sense of progress and never getting to the root of whatever financial stressors you have.

Both minimalism and budgetary wellbeing require standard upkeeps.

Neither process is easy to work and it is something that requires constant attention.

The power of jewels has been exploited by diplomats, traders, and lovers. The famous marketing slogan of De Beers is 'a diamond is forever' and creates the idea that all engagement rings must have a diamond.

However, a big sparkly diamond is not what makes jewellery so unique. People desire to have something more individual and affordable.

Special powers attributed to gems

Many legends from different cultures share the idea that jewels are of divine or superhuman origin.

  • The Amythyst was said to have been created from the tears of the Greek god Dionysus.
  • The onyx from Venus's fingernails.
  • Opals are said to be created when the Aboriginals' ancestral God came to Earth in a rainbow.
  • Moonstone was believed to be a way of communicating with the gods.
  • Jade still is used to attract good fortune,
  • Rubies are said to help in warfare.
  • Emeralds to protect travellers,
  • Diamonds to have powers over love and health.
  • Pearls were a symbol of power for kings, queens, Maharajas, and Chinese Emperors.

Iced-coffee is enjoyed by 38 percent of people in the U.S. between the ages of 18 and 24.

One explanation for iced coffee's popularity is that young people, who have been raised on iced-cold and sugary sodas want to integrate it into their coffee-drinking experience. Another reason is that ice-cold coffee can keep you alert. It offers similar benefits as a Red Bull.

The First Iced Coffees
  • In the 17th century Vienna, the Turkish army left behind a massive surplus in coffee beans causing citizens to experiment with new brewing methods.
  • Another tale proposes that iced coffee comes from Mazagran - a French beverage consisting of espresso, lemon, and ice.
  • In Europe, iced coffee is more like a Frappuccino - a coffee milkshake with whipped cream, chocolate syrup, and crushed ice.
  • The Japanese method involves brewing hot coffee and pouring it over ice, drawing out its fruity tastes.
  • Cold brewing consists of mixing coffee grounds and water and letting it sit in the fridge for at least 12 hours. It is more caffeinated and has a nutty, chocolatey, and less acidic flavour.

A cup of coffee costs more cold than hot. This is because iced coffee requires more materials to serve.

It requires a plastic cup that costs more than paper cups. Customers use more napkins because of condensation. Iced coffee requires an ice machine for the ice. Cold brewing coffee also requires more time.

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