Things we shouldn't spend a lot of money on
Electronics
Electronics is what attracts us the most today: we usually spend a lot of money on mobiles, tablets, computers ... the problem is that they will become obsolete in a very short time. Maybe it would be worth spending less on electronics and more money on other more useful things.
Clothing fashion
Fashions are fleeting, capricious ... and, above all, very expensive. Wanting to go "in the latest fashion" is expensive. The problem is that this investment may become obsolete in a very short time.
Video: «Children in the Fashion Industry»
Decoration of the house
There will always be a new fashion: once we have adapted it to our home, another new trend will appear. It is true that you have to have the house as you like it, but let's not spend money on something that will not last long.
cars
Cars, like technology, have a limited lifespan. At the height of the technological boom, new cars with all kinds of technology appear every time. Buy one that really has what you and your family need.
Jewelry
We are only going to use the jewels on very special occasions. It is true that it is a way that the money is not devalued but they can be in continuous danger because they can be stolen. The best idea is to have only a few jewelry but not to invest too much in it.
Things we should invest in
Education
Education should never be cut back. Whenever you can, try to study a course in order to acquire a greater amount of knowledge. They may or may not serve you, but the human mind needs to acquire new concepts throughout its existence.
In addition, you never know what it can serve you for ... so go ahead and do it.
Trips
Take advantage of your money and your time to discover new experiences in dream trips. It will be useless to store material goods; Once you've grown old, memories are going to be the only thing you have left, so you should try to travel as much as possible.
Music
Music is one of the great pleasures of our life. It helps us to relax when we live in a very stressful situation and to be able to express our feelings. It improves our memory and, for example, concerts are a type of leisure activity that we love. Spend more time listening to quality music.
Books
As in music, books are another of the patrimonies of humanity. Sadly, less and less is read. Try to start a book each week and try to be constant in your reading. You will begin to acquire a very special taste for reading and you will not stop devouring them one by one.
Meal
I'm sure you've heard that saying "you can cut your budget on anything but food"; it's a good advice. Choose healthy food even if you have to spend a little more on it, your health and your family will thank you.
Pay attention to these tips and you will live much better.
I very much agree with the ideas you share. I would add to the point of the things in which you should invest dedicating 10% of your income to undertake / invest to GET ASSETS that generate income and you can "live on income" in the future (10-20-30 years? ?). These assets can be a business that you are passionate about (and that does not depend on your physical presence in the medium term. The key is to build systems that sell for you), invest in real estate for rent (you leverage the money of others!) or invest in shares for the dividend they give you by selling put options (you leverage the put options on shares that you have PREVIOUSly decided to buy). A hug, Pablo
I AGREE COMPLETELY!
If we are going to talk about investments that are something economically useful, because anyone obviously thinks that investing in oneself is satisfactory, but it has nothing to do with economics, because if you do not invest your time first in your economy, you do not have how to do those things or invest in yourself. To whom it is useful to be told to read books, buy food, go on vacation, etc. It seems absolutely obvious to me.