Every Sunday I like to write about 3 random things that are on my mind.
Sometimes these are about business…
Sometimes they’re about life…
And other times they’re just completely random.
With that said…
Let’s jump into the first thing on my mind this morning.
1. There are a ton of hidden costs when you own a home
When the big ice storm hit Texas last month, my pool wound up with $20k in damage to it.
That’s $20k I had to shell out to fix it.
This is one of the hidden costs that go along with owning a home…maintenence.
Maintenence adds up.
Just yesterday I had someone come out and pressure wash all the pavers and the sides of the house.
The cost?
$2400.
Another maintenence cost.
This is the stuff that adds up that you never think about when buying a home.
It’s just one of the reasons why I’m a big fan of renting, even though I own a home.
If I could have found the home I wanted with renting, I would have done it in a heartbeat.
2. If you make decent money, stop focusing on the costs of small things
One shift I’ve made in my spending lately is to stop worrying about the costs of specific things and just focus on my savings rate.
For example…
Last year I made around $1.2 million after taxes.
If I’m able to save 30-40% of that $1.2 million and put it into investments, then I’m doing well.
Which is pretty easy to do.
Cause my personal expenses for the year are around $300k.
I don’t spend a lot of money in relation to my level of income.
So at my income level, there’s really no reason for me to worry about spending $400 on a nice steak dinner…
Or $600 on a pair of shoes I really want.
Those costs are a drop in the bucket compared to what I’m making.
So it makes no sense to even think about those purchases.
All the really matters is that I hit that 30-40% savings rate.
So if you’re making good money, stop worrying about the small expenses and just focus on hitting the savings rate you want.
Alright let’s do one more…
3. A lack of sleep feels like a hangover as you get older
On Friday I went out with a few buddies, and we wound up staying out til like 2 AM.
The next morning I woke up all groggy eyed and my first thought was “I shoudn’t have drank so much last night”.
I felt out of it.
Like I’d been hit by a bus.
But then reality hit me…
I didn’t even drink.
Seriously.
I was drinking water all night.
Yet I still felt like crap.
This is something I’ve noticed over and over again with my sleep.
If I stay out late, and get 5 hours of sleep, I feel the same as I do when I have a hangover.
My body just feels like death.
I guess this is just part of getting older.
Who knows.
All I know is my body likes it’s 8-9 hours of sleep.
Alright I’m gonna wrap this up.
Hope you got some nuggets out of my 3 random thoughts.
Enjoy your Sunday,
– Justin
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