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  • Writer's pictureNikolay Dobrev

The 3 Rules for Financial Comfort

I spent 4 years in university with just one single purpose - to understand how money works.

I don't come from a wealthy family.

My mother has a regular 9-5 job. And my father has worked 2 jobs ever since I was a peanut. So when I was growing up, I had to settle down with the average. While my peers wore the freshest sneakers, I had a regular pair. While they were having summer vacations abroad, I was in my neighborhood. And when my peers had their first smartphones, I was using a flip-phone. Now I know that those items have no weight on my happiness. But as a kid growing up, not being able to fit in sucked. So at the age of 13-ish, I had one goal only: to be rich.

I would save any lev from my pocket money. I would sell copper from old tools my grandfather had. I would work with my mom or dad to earn some extra cash. However, what I was missing was financial literacy.

Fast forward a couple of years, a dozen of books and a handful of meetings with financial advisors, I have a new goal. To become financially comfortable. I've got 3 steps to take to achieve this.

1) Savings. Every month I spare between 10% and 30% of my income. This sum goes both to my 'emergency' fund and to medium-term investments. Plus it builds the habit of putting money aside.

2) Accounting. You must know where your money is going. I use an app for that called Wallet. I record every single transaction and at the end of the month, I know what I need to cut down.

3) Evolving. If you also have a 9-5 job, chances are your income is limited. This is why I look for ways to improve my skills and bring more value to The Marketing Family. Solving more difficult problems = a bigger paycheck from Stapho.

And since you're still reading, I will give you an extra tip.

Be patient.

Playing the long-game is essential when you start from ground zero. To accumulate capital on your own takes time and effort. So keep your focus and don't lose sight of the end goal.

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