Below are some thoughts about why I run nomoney.com.au.
How much do you understand about money (and debt, saving, borrowing, tax and business)?
So many people I speak to either:
- Think they understand money (but have a lot of half-true information); or,
- Have some idea but decide learning the full story about money is too complicated.
I want to:
- Help you not to worry so much about money.
I want you to be able to live your life and do what you want to do, without worrying (too much) about money.
- Help you to think differently to your parents.
A lot of the advice you get may be out-dated and particularly with the internet, the rules are changing. When a YouTube video can earn more money than someone gets paid for one year of work, it is time to re-think everything you have learned about money.
More importantly – if you consider jobs being outsourced or sent overseas now and think ahead 20 years; if you follow everything that worked for your parent’s, it is possible that anyone could end up redundant and out of work for a substantial period of time.
- Help you apply the traits that made baby boomers successful
Though your parents may not fully comprehend the new rules about making money, traits like working hard, spending less than you earn, studying to be able to earn more, saving – these remain the basic building blocks for getting ahead.
- Provide financial tips to help you DO IT
You probably know how to lose weight and get fit, just like you know how to spend less. The hard thing is actually doing it. NoMoney aims to provide tips and systems so that you can get into good financial habits, without too much hard work.
- Provide information for young people
In every newspaper there are heaps of articles for those about to retire or with children. But there isn’t much information in the media for young people.
I started reading books about saving and money when I was 16. I couldn’t believe there was so much Shakespeare at school but nothing about money (I have nothing against Shakespeare, but teaching people to spend less than they earn is more important in my opinion).
- Find good advice that works for you
I read a lot of blogs or newspaper articles and think that they don’t tell the whole story. Either the article is too complicated so that it takes an accountant to understand it, or it is too simple so you only get half the truth and you the reader may need to do further research. Also – you need usable ideas that help you reach your goals.
- Give money its rightful importance – life is a lot more important
Money can seem important when we spend 40+ hours in a job, out of the total 168 hours in a week. But when you actually think about life, money is pretty unimportant.
Sure money can buy you an expensive night out, but the next day all you have is a memory (or perhaps a hangover!). Money can buy an expensive house, but is it worth it if you have no friends or family to share it with? Even forgetting friends and family for the moment (hopefully you have those!) – what is money without physical health, mental health and enjoyment (I’m sure you can think of other things).