I started writing Margin Studies because I wanted to share some of the things I was passionate about, but do it in a way where I was comfortable exploring all aspects of my finances and entrepreneurial journey. I decided to start the blog in a semi anonymous way and start publicly tracking both my net worth as well as my journey down the path to financial independence as laid out by Vicki Robin in Your Money or Your Life.
As I looked at ways for me to improve my finances, I imagined a graph that showed both my income and my expenses. Can you tell i’m a numbers guy? (Insert cliche millennial sweat emoji) I realized that improving my finances came down to these three things.
- Increase my monthly take home income
- Decrease my spending.
- Find ways to invest as much of the difference as possible
These three things are essentially the core of Margin Studies. Enter your email address below to be added to the Margin Studies newsletter- this will allow you to be notified when I publish new content!
1. Make More Money
The amount of money you make is ultimately your decision. Nobody else in your life has control over how much money you make, except for you. If you want to make more than a barista, take a new job! If you want to make a million dollars, you can! … You just might have a few skills to learn along the way.
As you look to optimize your monthly cash flow in and out of your accounts, you will likely find a point where it’s very difficult to find additional things to reduce or remove from your budget, but there’s always room for you to increase your earnings potential.
Because I’m self employed, many of the things I write about in regards to making more money pertain to starting new projects, side hustles, and increasing sales.
2. Spend Less
When you first start down the path to Financial Independence, one of the best things you can do to get some quick wins in building up your monthly margin is finding ways to spend less money.
It’s easier to find an additional $100 of margin money every month by finding ways to save money, rather than finding an additional $100 of income. Why is that?
In order to find an extra $100 in your budget, you just simply need to reduce your spending by $100. In order to earn an extra $100, you actually have to earn $130, have donald take 30 of it, and then you have your $100 to invest.
There’s a lot of room for me to still spend less money every month. These posts detail out the ongoing process.
3. Invest as much of the difference as possible.
Once we have money left over every month, we need to put that money to work somehow! These posts will discuss the investment strategies that I’m exploring further.
According to Rich Dad, Poor Dad, the biggest difference between rich and poor people is that rich people spend their money on assets that ultimately pay for their day to day living expenses, where poor people waste their money on things that end up costing them more money (vacation homes, xboxes, car leases, iPads).
4. Bonus Features:
Aside from the three categories of posts listed above, I’m also currently featuring two sets of posts that will track progress over time right now. These two sets are:
- The Margin Studies Investment Study.
I am currently tracking a number of different investment portfolios with the hopes of studying the way each of these portfolios responds to the marketing conditions of the next few years.
- Monthly Wall Chart and Net Worth Reports.
I am diligently tracking my net worth and also publishing my Income / Expense numbers to share my journey down Vicki Robin’s Your Money or Your Life process.
I hope you’ll join me on this journey! Enter your email address below to be added to the Margin Studies newsletter- this will allow you to be notified when I publish new content!