My journey of being bad with money to now being probably unhealthily addicted to saving and investing at 21y/o
I apologize for the long read but I feel like maybe younger people or even people my age will see my large fuck ups and maybe not make the same mistakes, but im also asking for advice from the older people on balancing life at this stage.
Always been fortunate enough to have a little bit of savings since I can remember, I've never had to worry about money but Im not a silver spoon baby, just the product of parents who are smart with money, so they've always pushed me to spend a little save a little. When I turned 16 I got my first job and basically threw everything I learnt out the window in what I can only assume was some kind of subconscious rebellion, and spent every pay check on csgo items and general shite. Parents found out and basically confiscated my money and gave me an allowance. Shit though it was I don't blame them looking back.
After proving myself as sensible with money again I got access to my account again and went to uni. Again, threw all my savings knowledge out the window and spent my entire loan and spent most of my savings in the first year (about 14k all together) still disgusting to think of tbh. A backpacking trip was part of that so I suppose that part was worth it.
At that point I realised I was terrible with money and I had been convincing myself I was ok because I managed to save X amount of money so I'll just do it again. But that was much harder that I realised
I ended up getting back on track by getting a part time job at uni which basically sorted my living costs so I was able to save my entire student loan. So now I'm in a better position but still no real financial knowledge, I was just savings for the sake of it and was always battling with . "You've done really well saving this amount you deserve to spend it, after all what are you even saving for?".
Cut to March last year I started learning about finance and that brought me to crypto. I started DCA'ing into various coins and that has turned out really well, I have more savings than I've ever had. And I'm really proud of myself for being disciplined enough to get where I am now, crypto has completely flipped my attitude towards money and I now actually enjoy saving more than spending. I like to think I'm being smart with it, I don't chase gains, I pick strong coins and play the long game, I haven't sold a single penny of my portfolio since March last year and don't plan on selling anything until I need a house deposit which will probably be in 5+ years. So until then I'm dca'ing and practicing the art of hodling.
However it's gotten to a point now where I'm just addicted to growing my savings and I always tally up my various accounts and investments for my own satisfaction. I see all these posts about people sayings how sad and boring it is to see people in their young 20's planning for retirement and it's a difficult thing to balance. On one hand I want that new game console , the fancy tv, a nice car because I'm young and being some what reckless with money is to be expected. However I'm just so worried about fucking it later in life that I think the more money I build now the easier things will be if I do fuck it.
So at this stage I'm in a decent position (for me) with my crypto portfolio and my savings account, I try to set aside fun money every month but I just don't spent it so it ends up going into savings or crypto. Don't get me wrong I've definitely fallen victim to social pressure and I do want expensive things but not enough to actually buy them, so I'm in this constant cycle of I want that thing really bad but I just can't part with the money because my networth will go down.
Its difficult to critique yourself and I feel like I am missing opportunities to do crazy stuff but at what price? Spending 4k on a backpacking trip sounds amazing but that 4k could be 10's of thousands Inna few years if I invest it smartly.
Everyone has their idea of what a balanced life is in terms of finance but I feel it's important to get an outside view and work on identifying and working on bad habits.
I hope this resonated with some people and any comments or advice on my attitude toward finance are more than welcome.
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