100 dollars and happy
100 dollars and happy might not be entirely accurate. Currently I might have a little more in my bank account but it’s not far off. A few days ago I counted it to $112.89. So I was broke, by my own standards, not having much money left over since it was the middle of January and I get paid monthly.
Broke but okay
We recently made a big move, by skipping out on buying a home that we have been saving up for. Instead, we found an opportunity to rent a new apartment, closer to where we work. It basically depleted our savings including the sinking fund we had made for a house down payment. But we’re totally okay with it, because on a month to month basis, we earn more than we spend. So we’re quite calm about our finances moving up to a more comfortable level again within a few months. Both of us are employed fulltime and unlikely to lose our jobs in the near future.
I feel broke, because since taking control of my finances and budget, I haven’t experienced having less than $1000 on my bank accounts altogether. But this time I feel okay about it, because I know I have safety in my investments.
Broke is (also) a mindset
Hear me out here – if you’re poor/broke, I’m not going to argue that. I can only speak from my own experience and perspective and I’ve come to certain realizations. That “feeling broke” for me, is a mindset game. I could just tell myself that I have plenty of money, because my investment portfolio currently sits at around $8,750. So technically yes, I still have money.
We also have everything we need for food and other recurring expenses taken care of, as these are a fixed amount deducted from my account at the beginning of each month. We then have one shared account for bills, food and housekeep expenses. The rest of my money are then distributed to sinking funds, spending, investing etc.
But even though I have these money invested, I would like for them to *stay* invested. I don’t want to have to pull money out just yet, as one of my goals financially, is to be able to live off my dividend income and have them cover my fixed expenses.
Therefor, I tell myself that I am broke. I promised myself that I would invest, and that the money would stay invested. So that means I have around $100 left for miscellaneous expenses for the rest of the month, and really, that’s enough.
Doing what’s right for us
Knowing that we are in fact spending our money where we get the highest return on investment right now, is great. We are investing in our current situation, our longterm happiness and getting more time together as a family – and we don’t have to wait too long either!
However, I will say that having those extra money in my brokerage account, made the move even easier, because I knew that if all else fails, I could sell a few stocks. Investing is one of the best things I ever did for myself and my mental health.
And now? Now I’m just excited about moving in a few months time, and perhaps living a little more frugally until I’ve saved up a new emergency fund haha.