Page 42 - DIY Investor Magazine | Issue 33
P. 42

But with debt so easily available, most people nowadays don’t own their assets, and having fancy things has become the norm rather than the exception.
In “Frugality is the New Fanciness”, Pete argues that real strength of character is displayed by people who lead a non- fancylifestyle.
Finding alternatives to spending money takes courage, creativity, and a certain amount of intelligence.
I immediately identified with this concept and took it on board. In my early 20s, I’d bought a lot of unnecessary luxuries, but by the time I found out about FI at age 24, I had realised that none of them brought me lasting happiness.
The struggle involved in working hard and creating something new is much more satisfying than just going out to the store and buying the item.
For example, I often “inherit” other people’s clothes. My Swiss family members have countless tops they have almost never worn and are thrilled to “declutter”. Since I am handy at sewing, I can easily alter the clothes to look stylish and fit my needs. Similarly, going to the gym is the easy way to exercise, but I have found several alternatives. I now cycle everywhere on my electric bike, which also cut my transportation cost to almost zero.
Additionally, I go for walks and do workout videos at home on the terrace.
Fortunately, some of the best online FIRE resources were already available when I became interested in the concept in 2018. I think it would have been much more challenging to get started without the blog posts mentioned above.
But looking back, reading some books could have simplified my journey and sped up my learning process; online resources aren’t compiled as concisely as a book, so they can be more challenging to navigate.
If I could go back in time, I would give 2018 Me The Millionaire Next Door and The Psychology of Money as a gift. “
   “How big is your circle of control?” was another excellent article that changed the way I viewed the world. Most people worry about a lot of things that are within their control and even more things that aren’t.
For example, they closely follow politics and complain about celebrities whom they have no influence over. This wastes a lot of energy and doesn’t accomplish anything.
MMM teaches his readers to focus on increasing their circle of control instead. Instead of spending all your time thinking about things you can’t influence, learn new skills that allow you to change the local or global environment.
This shift in mindset has prompted me to start pursuing many activities I might otherwise have put off.
Instead of worrying about poverty and the environment, I have started making regular donations to effective organisations and volunteering as a gardener in my local park. What’s more, I have spent time upgrading my writing skills and have been able to start a second business as a writer.
In the past, a person’s status was displayed by the clothes they wore, the food they ate, and the house they had.
DIY Investor Magazine · Apr 2022 42

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