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Money – Make, Spend, Save and Invest

Few things are as simple and as complicated as money. There are thousands of expressions, catchphrases and one line magic pills that we hear multiple times in our day to day lives with respect to having and making money. So far today I’ve heard: the rich get richer, make money while you sleep, that’s the latte effect, make more to spend more, financial freedom on $5 a day and I’m richer than I think. 

All this advice bombardment is an attempt at answering the one consistent question we hear from clients; how do I get ahead in the world of finances. We don’t have the definitive answer but over the years we have realised that people do two things really well: Make money and spend money. 

Some people do a third thing which helps, that is they save some money. 

Fewer people do a fourth thing which is invest money. The people we see that do all 4, far and away, do the best and have the best quality of life. It doesn’t have to be much in real dollars. It adds up and makes a difference regardless. The sense of accomplishment and forward progress is as big of a component as the dollars themselves in our experiences. 

Our answer to getting ahead is simply to do four things: make money, spend money, save some money and invest some money. 

Make money: Incoming money from any source is good income. Part time, full time, pension, etc. It doesn’t have to be your dream job or as much as you used to make. It only has to be income. 

Spend money: Beyond paying your bills enjoy yourself. Regardless of whether you have lots or a little disposable income spend some on yourself and your loved ones. 

Save money: Whatever works for you. A coffee can you put $10 in on payday. Auto transfers to your savings account. Top up transaction accounts. For every type of person there is a type of savings. Try a bunch and see what works for you. 

Invest money: Once you have a little saved start investing a little. If it’s a $100 you have saved start automatically putting aside $25 to a tax free savings account that your bank can open for you and have it debited from your savings. This way you always have it covered and only have to worry about the savings part from pay to pay with a built in buffer. Keep it simple and learn as much or as little as you want. Experts can help you with how to invest. You don’t need much to get started to begin seeing what your nest egg can become. 

Nothing here is glamourous but we have seen it work from working with thousands of people. It’s simple and that is what makes it work. If you’d like a referral to get help with savings or investing please ask. We are here to help.

Written by Dave Chen

Founded Blue Copper Capital in the spring of 2008 after spending the previous 10 years working in the transport industry in many capacities. Spending considerable time with apprentices and tradespeople showed a market for good people, starting out or restarting, that needed loans who the banking industry overlooked. The first loan written was done on the tailgate of a pick up truck in an Olive Garden parking lot. More than 10 years and thousands of loans later the idea of loans for a better life is still the backbone of Dave’s and BCC’s vision.

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