Let's talk money.

It's something we all think about - wanting it, needing it, hating it, loving it, spending it, saving it, arguing about it, investing it, gambling it, you get the point.

I'm not going to give any revolutionary advice on building wealth, but have had a few discussions about the almighty dollar recently and had a few insights that people found valuable.

Here is a nonexhaustive list of ways to spend money conceptually.

1) Pleasure and Entertainment

ex: Restaurants, Travel, Games, Shows etc.

You already know this one as this is the type of spending everyone starts off doing as kids in the candy store. You buy something sweet or you go to some fun event. Most people over spend here because this is what social media spending looks like. It is valuable but comparatively the least valuable. This should be

2) Alleviating Irritants

ex: Hiring a maid or lawncare service, baby sitters, personal shoppers, (heck, even someone to meal prep for you if you're fat.)

I strongly believe in the adage "Money can't buy happiness." However, I simultaneously believe in the idea that money can ward off discomfort.

Alleviating Irritants is a enormously beneficial spending habit to understand. Outsource responsibilities that you dislike more than work. At the end of the day, the Captain's job is to make sure the ship is clean, it doesn't matter how it gets cleaned! If you are chronically anxious or stressed about menial housework and have the income to outsource it, why aren't you?

3) Creating Opportunity

ex: Taking classes or seminars, joining clubs, using cash for as startup, etc.

Fortunately, or unfortunately, college has cornered the theoretical market or Opportunity Self Investment, but it is not the only kind! Education is a vital tool and just as much of a legitimate bucket to fill as a fat savings account. Providing you have the social skills to approach strangers, simply putting yourself in environments where opportunity holders exists and interacting with them is invaluable.

4) Developing Relationships

Arguably the most important way to invest. If your most valuable relationships are not requiring of you financially, then I seriously question their overarching value in your life. Use money with that person to do something #1 - #3.

5) Warding from Emergency

ex: Non-essential vehicle tune-ups, insurance, blood work,

Something I regularly neglect to do, but recognize a huge scale of value in. Spending money this way is essentially reinforcing a smaller amount of what you have. Probably best to have something like 6 months income + $4k for a vehicle saved (at least).

Money is a tool, at the end of the day if you are not using that tool to build, repair, or destroy then you aren't using it properly.