Here’s a simple breakdown of the financial advice shared by TikTok creator and finance expert Pattie Ehsaei, as reported by Parade:
Many people feel overwhelmed by bills and daily expenses, which can make financial planning seem pointless. This often leads to impulsive spending and the “Treat yourself!” mindset. However, Pattie Ehsaei suggests a better approach.
Ehsaei, who has over 22 years in financial services, recommends a six-word phrase: “Money isn’t a voucher to spend.” (“Money isn’t a voucher to spend” means that money should not be seen as something just to be spent right away. Instead, it’s better to think of it as something to save or invest for the future. This mindset helps you make more thoughtful decisions about how you use your money.)
This mindset can greatly benefit your finances in the long run. Instead of spending impulsively, she advises investing early.
For example, if you invest $200 a month for 30 years, you could have about $400,000. But if you start investing 10 years earlier, you could end up with over $1,000,000, potentially gaining an extra $600,000.
Ehsaei emphasizes that financial literacy helps achieve financial independence and reduces stress. Understanding how to manage and invest your money can lead to greater happiness and security.
Credit: Parade
https://parade.com/living/best-phrase-for-financial-planning-according-to-a-money-expert