1. How to spend less than you earn. Lots of people desire “financial freedom”, meaning they can spend what they want when they want it. Solving this via revenue leads to the hedonic treadmill, and you’ll never out earn your growing wants. Instead solve this by controlling your wants, and you’ve achieved financial freedom immediately. 2. How to take risks. Finding the balance between recklessness and absolute risk avo…
1. Spoken like someone who has been lucky. Before I was a dev, I worked less profitable jobs. I was no where near the poverty line, but life is expensive and you can only reduce expenses to a point. Sure, you can probably ease the burden by spending less, but at a certain point spending less means living an ascetic life, free from any frivolous pleasures. The term financial freedom doesn't just mean "making more than…
I managed to save money without much issue, and I moved out of that place with $12k cash.
It was a very good time in my life, probably the best time. I think you maybe have a different idea about what makes you happy--those "frivolous pleasures." Simpler living is not the same as asceticism.
I am in a position in my life now, having bought a rural property ($60k for 40 acres and a home), where I could live for much less than I did at that time. Some things I find rewarding there are raising a few animals, gardening, hunting, camping on my own property, woodworking in my small woodshop (hand tools are cheaper and I find them particularly rewarding), repairing/restoring things, servicing my own vehicles, and relying more on myself and my own talents. Some of the best times are spent sitting in a chair on my shop porch--a type of meditation perhaps. I don't feel like an ascetic, and I realize that it's not a life for everyone, but surely it's a good life, and preferable to being a drone with no free time and no money to spend in any free time.
2: I think they were speaking less about financial risk, like risking your savings, and more about other kinds of risks. Later in my life I moved to Costa Rica for a time (on an aside, I lived there about as cheaply as I did in my YMCA days). I was scared to do it, by myself, etc, but I looked at worst case scenarios, and it was like...I squandered my savings (10-15k, I don't remember), I was alive, bruised ego, and I went back to the US and got a low-paying job. I held out an amount of money equal to a plane ticket in case that scenario presented itself, and I had a great time in Costa Rica. I moved back with more money than I left with.