The Art of the New Money Level Up

Where Dem Dollas At?

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I think I’ve got this money stuff worked out. Big shouts to everyone else that does too.

I’m by no means in the position I’d like to be in, but I learned a long time ago that the only way to get anywhere is to keep building. Financially, building requires an increase in two things: cashflow and investments. The other side is to make sure there are no leaks – saving as much as possible, and sticking to a budget. It sounds hard to do (and it probably is at first) but if your mind is in the right place and your environment is healthy, everyone’s got it in them.  

What motivates me most is levelling up. What I mean by this is the act finessing myself into increasingly better financial positions. (As I’m sure most other people do).

An example level 1:

  • My current account will not go into its overdraft
  • I will only dip into my savings for emergencies and Christmas
  • By 20XX, I want to have £X,XXX in my ISA

Advancing to level 2:

  • By payday, I want to have £XXX left in my current account every month
  • I will only dip into my savings for big emergencies
  • My side project will make me £XX each month
  • By 20XX, I will have £XX,XXX in my ISA

Going on to level 3:

  • By payday, I want to have £X,XXX left in my current account every month
  • I will only dip into my savings for big emergencies
  • My side projects will make me £XXX each month
  • By 20XX, I will have £XX,XXX in my ISA, and a £X,XXX investment

And so on.

This obviously began when I was in a full-time job, and has continued on since I left that life last year. Most people would look at new money as increases in pay, with a promotion or job move. To me, that would have been a hinderance. Stability is what I need, not increased responsibility or new things to learn. More money is nice, but not when it’s eating into my brainpower and time when I’m away from the office. 

When new money comes my way, I know exactly what I’m doing with it. I’ve got a stable income that comes into my current account each month. If any other significant sums come along, my first instinct isn’t to treat myself. I can treat myself by being better off.

So I might:

  • Pay something off
  • Boost my savings
  • Invest into resellable stock
  • Kickstart a new idea

Every time I’ve received a windfall of any kind, it’s triggered another level up. Competition cash win – banked it. Overly big redundancy payout – cleared a credit card early. Solid freelance contract – started a company. If I splurged those thousands on clothes and extra takeaways, I’d still be at level 1.

If people that identify themselves as part of the FIRE world (financial independence, retire early) saw my spending, they’d be disappointed.I’m no role model when it comes to minimal spending and putting as much money as possible into savings, but at least I’m making an effort.

I’ve mastered the art of levelling up. If anyone wants to contribute to my level 8 evolution, spend your propositions this way.

Jacket | Chinos | Trainers

*Listen to Gangsta Boo*