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If You’re In Your 20s, Having Savings Shouldn’t Be Your Only Concern

If You’re In Your 20s, Having Savings Shouldn’t Be Your Only Concern

The consumerist world we live in seems to have turned us into money making robots with ever-increasing desire to earn more only to spend more. A growing number of twenty-somethings have fallen victim to this vicious circle of making earning their top priority.

What happened to the fun-seeking, experience-hunting, and self-realization twenties? People in their twenties seem much more concerned about their savings, pressuring themselves to act more grown-up than they actually are. Therefore they seem to settle for mediocre jobs and relationships in order to play by the rules and strictly follow pre-made life paths. True – bills, rent and college debt won’t pay itself, but what you do with the rest of your paycheck, is what makes all the difference.

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People who spend money on experiences are happier

Whenever you are facing the latest version of a smartphone or a trip with your friends dilemma, make sure to pick the experience purchase, suggests Dr. Thomas Gilovich, a psychologist, in the study “A Wonderful Life: Experiential Consumption and the Pursuit of Happiness,” published in the Journal of Consumer Psychology. He presents his findings from a research where he compared the effects of products to experience purchase on human happiness. The results show that people who collect experiences instead of things, show much bigger and longer-lasting signs of contentedness.

When you spend time and money doing things or going places with other people in your life, you get a chance to enjoy sharing your experiences with others. This way you enrich your life, and apart from learning new skills and discovering new places, you learn a lot about yourself and others, and get valuable life lessons no gadget in the world, no matter how advanced, can teach you.

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Growing older, the excitement of buying the latest smartphone, TV or a car will be long forgotten, but moments you shared on your trips or events with your friends and family will be vivid in your memory, even the bad ones, Gilovich finds out,  “Even those concerts, theatrical performances, or vacations that do not turn out as planned are quickly rationalized (“It brought us closer to together,” “You only find out what someone is really like when things go awry”) and made peace with.”

The hype around the must haves of the season can turn you into a mindless consumer, if you don’t pay attention. Material things can help you feel good in a short run, while the skills you learn, experiences you share with your closest friends, and places you visit make you an altogether happier, smarter, more mindful and open-minded person. As Gilovich concludes “it is the experience that lives on and the possession that fades away.”

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We are our greatest assets

In an effort to always earn more and spend more, young people seem to have adopted a certain consumerist mindset when it doesn’t matter how you feel, as long as it can help feed the consumer beast, so to speak. Hence, the prevailing dissatisfaction with and feeling of being trapped in unfulfilling job positions, which creates the need to spend more in order to feel better – a vicious cycle hard to get away from. Sure, you want to escape the mediocre job, yet the material security it provides, makes it seem impossible. So, most people decide to settle for the security of a regular paycheck, never really utilizing their true potential, with their skills and values gradually declining.

However, if they dare to take one small step towards a different direction, circumstances can change dramatically in the long run. By investing a little bit of their time, at first, in cultivating their talents and skills, they are investing in their future of doing the work they are truly passionate about. Gradually, the transition to a much more desired position can happen, providing them with more time, money and more-purposeful work. Their whole outlook on life changes once they discover the best outlet for their talents. Realizing that you don’t need to settle in your twenties, but to find the time and funds to discover your passion, is a great way to prioritize and to invest in your future.

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Building the right foundations

Another reason to not obsess about savings in your twenties is to create the right mindset that will make your life much more enjoyable. Our twenties seem so challenging simply because it is the time when we make the most mistakes trying to reach maturity and self-realization. The lessons we learn now, influence our future belief system to a great extent. By discovering early in life not to compromise your time and happiness for material rewards, you avoid spending a lifetime blindly chasing the wrong values.

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Ana Erkic

Social Media Consultant, Online Marketing Strategist, Copywriter, CEO and Co-Founder of Growato

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Last Updated on June 19, 2019

6 Ways to Be a Successful Risk Taker and Take More Chances

6 Ways to Be a Successful Risk Taker and Take More Chances

I’ve stood on the edge of my own personal cliffs many times. Each time I jumped, something different happened. There were risks that started off great, but eventually faded. There were risks that left me falling until I hit the ground. There were risks that started slow, but built into massive successes.

Every risk is different, but every risk is the same. You need to have some fundamentals ready before you jump, but not too many.

It wouldn’t be a risk if you knew everything that was about to happen, would it? Here’re 6 ways to be a successful risk taker.

1. Understand That Failure Is Going to Happen a Lot

It’s part of life. Everything we do has failure attached to it. All successful people have stories of massive failure attached to them. Thinking that your risk is going to be pain free and run as smooth as silk is insane.

Expect some pain and failure. Actually, expect a lot of it. Expect the sleepless nights with crazy thoughts of insecurity that leave you trembling under the covers. It’s going to happen, no matter how positive you are about the risk you are about to take.

When failure hits, the only options are to keep going or quit. If you expect falling into a meadow of flowers and frolicking unicorns, then you’re going to immediately quit once you realize that getting to that meadow requires you to go through a rock filled cave filled with hungry bats.

2. Trust the Muse

Writing a story isn’t a big risk. It’s really just a risk on my time. So when I start writing a story, I’m scared it will be time wasted. Of course, it never really is. Even if the story doesn’t turn out fabulous, I still practiced.

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When I’ve taken risks in my life, the successful ones always seemed to happen when I followed the muse. Steven Pressfield describes the muse,

“The Muse demands depth. Shallow does not work for her. If we’re seeking her help, we can’t stay in the kiddie end. When we work, we have to go hard and go deep.”

The muse is a goddess who wants our attention and wants us to work on our passion.

If you’re taking a risk in anything, it’s assumed that there is some passion built up behind that risk. That passion, deep inside you, is the muse. Trust it, focus on it, listen to it.

The most successful articles and stories I write are the ones I’ve focused all my attention on. There were no interruptions during their creative development. I didn’t check my phone or go watch my Twitter feed. I was fully engaged in my work.

Trust the muse, focus your attention on your risk, let the ideas and path develop themselves, and leave the distractions at the side of the road.

3. Remember to Be Authentic

Taking a risk and then turning into something you’re not, is only going to lead to disaster. Whether you are risking a new relationship or new opportunity, you must be yourself throughout the entire process.

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How many times have you acted like you loved something just because the men or woman you just started going out with loved it?

For example, I’m not an office worker. I have an incredibly hard time working in a confined timeline (ie. 9-5). That’s why I write. I can do it whenever the mood strikes, I don’t have somebody breathing down my neck, telling me that I’m five minutes late, or missed a comma somewhere. I don’t have to walk on eggshells wondering if what I’m writing will get me fired or make me lose a promotion. I can just be myself, period.

One girlfriend didn’t understand that. She believed solely in the 9-5 motto, specifically something in human resources because that was a very stable job. I was scared for my future, but I stuck with the relationship because of my own insecurities and acted like I would do it to make her happy.

Here’s a tip: NEVER take away from your happiness to make somebody else satisfied (note I didn’t say happy).

Making somebody else happy will make you happy. Doing something to satisfy somebody is murder on your soul.

4. Don’t Take Any Risks While You’re Not Clearheaded

I’d been considering the risk for a couple weeks. It all sounded good. I was 22 and I could be rich in a couple of years. That’s what they were selling me, anyways.

One night, while at a house party with some friends, I found myself at a computer. A couple of my friends were standing nearby and asked me what I was doing. I told them I was considering starting my own business and it was only going to cost me $1,500.

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Of course, when a bunch of drunk people are surrounded by more drunk people, things get enthusiastic. It sounded like the best business venture in the world to everybody, including me. So I signed up and gave them my credit card number.

A few painful months and close to $4,000 dollars lost later, I quit the business. I was young and fell into the pyramid scheme trap. It was an expensive drunk decision.

Drinking heavily and making decisions has a proven track record of failure. So when you have something important to decide, don’t let your emotions take over your brain.

5. Fully Understand What You’re Risking

It was the start of my baseball comeback. I got a tryout with a professional scout and killed it. After the tryout, he talked to my girlfriend and myself, making sure we understood I would be gone for up to 6 months at a time. That strain on the relationship could be tough.

We understood. I left to play ball, chose to stay in the city I played in, and a year later we broke up. Not because of baseball, see point 3 above. Taking big risks can have massive impacts on everything in your life from relationships to money. Know what you’re risking before you take the risk.

If you believe the risk will be worth it or you have the support you need from your family, then go ahead and make the leap.

You can get more guidance on how to take calculated risks from this article: How to Take Calculated Risk to Achieve More and Become Successful

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6. Remember This Is Your One Shot Only

As far as we know officially, this is our one shot at life, so why not take some risks?

The top thing people are saddened by on their deathbeds are these regrets. They wish they did more, asked that girl in the coffee shop out, spoke out when they should have, or did what they were passionate about.

Don’t regret. Learn and experience. Live. Take the risks you believe in. Be yourself and make the world a better place.

Now go ahead, take that risk and be successful at it!

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Featured photo credit: Unsplash via unsplash.com

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