Reaching a net worth of 100K by age 30 is a realistic and achievable goal for everyone, and I've been working towards it with discipline, smart financial planning, and dedication. Here are some tips I've been applying since I was 23 years old, which have set me on the path to success:
Creating a Budget: I started by diligently tracking my income and expenses, creating a budget that gives me a clear picture of where my money is going and where I can cut back to save more.
Living Within My Means: I've consciously avoided unnecessary expenses and adopted a frugal lifestyle, focusing on what I truly need rather than what I want.
Saving and Investing: Since my first job, I set up a savings account and have consistently contributed to it. Additionally, I started investing my savings to potentially grow my money faster over time, learning about different investment options and risk levels along the way.
Increasing My Income: Recognizing the importance of boosting my income, I actively pursued opportunities to raise my earnings. Whether through negotiating a higher salary, engaging in side gigs, freelancing, invest in stocks, or starting a small business, I've worked to increase my earning potential significantly.
Avoiding Debt: I've been cautious about the use of credit cards (actually, I don’t have one) and have diligently paid off any existing debts. This proactive approach to managing debt has prevented it from becoming a significant obstacle to building wealth.
Building an Emergency Fund: Understanding the importance of having a safety net, I created an emergency fund to cover unexpected expenses or financial setbacks, protecting my savings and investments during challenging times.
Avoiding Lifestyle Inflation: I've consciously resisted lifestyle inflation as my income increased. Instead, I maintained my frugal habits and continued to save and invest the additional income, accelerating my journey to financial independence.
Seeking Financial Advice: Whenever I was unsure about investing or managing my finances, I sought advice from financial advisors. Their guidance has helped me create a personalized plan based on my goals and risk tolerance.
Staying Disciplined: Throughout this financial journey, I've demonstrated remarkable discipline and focus on my goal. My unwavering commitment and patience are paying off, and I'm well on my way to reaching my 100K goal by age 30.
By applying these strategies from an early age, I've given myself a head start on building wealth and securing a strong financial future. My consistent efforts and dedication are commendable, and they will undoubtedly lead me to achieve my financial goals. I'll keep up the excellent work, and best of luck as I continue my journey towards financial freedom!
Updates
Brand New Website
I've been working for almost 2 months now on a new cleaner, more responsive and minimalist design for my personal website and today I'm pleased to release the first stable version of it.
I worked hard on this project, being responsible for the design and code using Figma and Nextjs.
Take a look: https://nublson.com
Hey Google, Lets Play
I just added Google's Nest Hub to automate my home and I've been having a lot of fun with this virtual assistant. Soon I will do a review on my Youtube channel.
Link Lowdown
A collection of links to stuff I think are worth sharing.
Money, Explained - Still about the main content of this newsletter, a series that helps you see money differently. One of the best productions on Netflix.
My Gears - New page available on my website showing all the products I use in my daily life, including software.
Arc - Again, THE BEST browser in the world!