This post is Frugal PhD’s first-ever guest post, brought to us by fellow blogger and conquerer of consumption—Mystery Money Man. Here, the Mystery Money Man outlines three valuable lessons he has learned about money—to avoid lifestyle inflation, choose like-minded friends, and just say “no”. By sharing some of the financial wisdom he has accumulated, Mystery Money Man equips younger readers with the knowledge they need to avoid pitfalls and to stay strong on the path to financial success.
Recently, I’ve given a lot of thought to the concept of hindsight. Hindsight is something we all possess, but it’s one of those things where the older we get, the more we have. Think of it like a savings account that accumulates over time. I’m not sure if it’s interest bearing, but I know mine’s got an impressive balance!
You see, I recently turned 40…er, make that 41. I’ve never been one to give much thought to getting older, but since I hit the big FOUR-OH, I seem to be slightly less accepting of the fact. I do realize that it’s all relative, that to my parent’s I’m still their kid, and to my sixteen year old son, well…I’m slightly older :). Regardless, my age has become a source of increasing, wary reflection.
Now, where were we? Let’s look at a definition for hindsight:
“The ability to understand, after something has happened, what should have been done or what caused an event.”
I love this definition, of hindsight because it frames it as an ability. It’s a kind of wisdom that only comes from life experience.
With that in mind, allow me to share 3 money-related lessons that I’ve learned over the years. This is the stuff I would share with my younger self, if given the opportunity…