Lazy Money
“It’s not slow, it’s controlled. There is a difference.”- Manoj Pun Tilija
Money is the number of paper currencies you have. Wealth is your ability to create money. It can be a skill/job, a business, or money management. Ultimately you want to seek wealth. You want to be wealthy. If you know the laws of wealth creation, you can be wealthy. An excellent timeless book on wealth is called “The richest man in Babylon”. Take your time to immerse yourself in the timeless principles of wealth.
Let us begin our talk on Lazy money.
What is lazy money?
Is it money that is lazy? what does it mean by being lazy?
Let me ask this do you want to spend every waking hour of your precious day and worry about your budget? Do you want to invest money? Do you want to save money? Do you want to have a good night in the most exquisite 5-star and not worry about the credit? Then you want your money to be lazy.
Now “lazy” doesn’t mean your money sits in one place and does nothing.
Lazy means it is automatic and you are not spending your time managing/worrying about your money.
The Book by Ramit Sethi “I will teach you to be Rich” explains many of the steps and strategies to create a rich life.
For me, the key takeaway was making savings automatic. Even though we think we are rational humans we do stupid things when it comes to money. Instead of worrying about 10 different aspects of your personal finance, why don’t we focus on just one of them?
Make savings automatic.
You take a portion of your paycheck before you even receive it and just put it in your retirement account. Simple.
You do not miss the amount taken. Think of it just like any other fixed cost like rent or utilities.
Once you have started this journey. A snowball effect takes place and you will find yourself getting excited about the money. You will find skills and strategies to create the rich life that you wanted.
Why don’t you start with just one step?
