Again and again I realize how different people can be. In the last few years of my job, I've always noticed that when it comes to money, there are three different types of money. Which type of money are you?
The money types, who are you?
The interesting thing is that no matter what type of money you are. Every type of money will always say "I have too little money". I have not experienced anyone in my more than ten years of employment who seriously meant "I have enough". The statement was always "when I reach that, then I have enough". Most of the time the problem with this "if" was that the typical features had come out again.
The hamster
If you think of a hamster, then you think of the classic hamster cheeks. Bounced and stored for later use. The hamster among the money types is similar. Mostly driven by fear, he always wants to get on the side to have something for "later".
This "later" is rarely a fixed amount or a fixed event. It's just about building some "security" and feeling "I could if I had to".
This "I could" leads to a hamster having high liquidity. The daily allowance is filled and can be tapped quickly in any situation. The sensible reserve of classic six-month salaries has long been exceeded.
Furthermore, the hamster is also usually very economical. His expenses are clocked and payment deadlines are either up to the last day or immediately after opening the bill. The difference is that some do not want to have debts. As a result, each open represents a liability to one. The other uses it because something could happen.
The hamster could therefore be described as a classic philistine. And although this name is usually wrong. Anyone can be a hamster and in a way that makes sense, but as with everything in life, you should not overdo it.
Hamsters suffer from the big problem that their money is not working. Daily money and savings account provide no income. In addition, hamsters shy away from the risk. Any volatility leads to sweats. Therefore, hamsters are indeed well positioned, but in the long-term asset accumulation, they are behind.
The consumer
The classic consumer does not have much of his money. There are two different subspecies here. One comes out with his money and knows the limit of his account. For the other, the limit is only reached when the credit card no longer wants.
But what are their similarities. Both have little to no assets. The highest of emotions is a savings account from grandma's times. However, nothing has happened there for years, there are no deposits, but no interest.
At the beginning of the month, both like to treat themselves to a decent portion of consumption. After all, you have to reward yourself for having worked for a whole month. Even if this thinking is harmful in the long term, you have to be able to handle it. Especially salaried employees are subject to the misconception of a secure job.
Especially if it belongs to the second category. It is true of these persons that "at the end of the money there is still so much month left". At the beginning of the month there are caviar and at the end ravioli from the tin. It gets bad but then, if that goes so far, that the salary is only charged for the credit card bill or you have already agreed a installment, so you can exhaust the limit.
If you want to become a saver or an investor, you should take a look at the savings tips
The investor
You do not want to believe it, but you are more in debt than the consumer is just the investor. Especially real estate investors have a very high debt level. On the other hand, there are also apartments and other assets.
For the investor life consists of getting as many assets as possible. Be it ETF, stocks, P2P, real estate or a new idea the acquaintance had. His goal is to build wealth, only then comes the life. As mentioned above, the investor often has a liquidity problem. His cash flow is used up for other investments.
Investors live outweighed by a fixed income, at least in the beginning. But once the whole thing gets rolling, it's Pay-Day. Be it a hard-hitting dividend strategy or the leasing of real estate.
An investor will end up accumulating more assets than any other person. This is because this person has understood compound interest. This powerful weapon makes it possible that theoretically everyone can become rich.