Make the most of the income you want
Optional income is the rest of you after paying your fixed expenses. It is up to you to spend on everything you choose.
How you spend this money can change your financial situation, but before that we need to determine what a reasonable income is.
Rent / rates
Car operating costs
Grocery and so on.
People with some form of addiction will prioritize their expenses so that the addiction is included in their fixed costs.
Everyone who has reached the age of majority has the freedom to choose if their debts are eroded in relation to their level of debt.
The old proverb, “The lender is the slave who lends,” embodies this.
We have some control over all of our fixed costs, such as groceries and energy; we can reduce them, but items like rates / rent are determined, but we can choose to live in a more modest apartment or cut back.
The excess of your expenses is called reasonable income.
Another way to increase your one-time (voluntary) income is to get a part-time job, get a higher-paying job, or increase your income by selling things online.
Instead of trying to cover all the expenses you want, saving for a bigger purpose gives your life meaning. Instead of just letting things happen, you make things happen. For 10-20 years, many people wondered what it was.
There is a big difference between saving your money and investing. Sensitive investors use their discretion to increase their wealth by investing in higher-risk stocks and stocks, gold and cryptocurrency. If you are climbing the investment ladder, there are enough online platforms where you can spend your bait money on these things.
But then you can choose to save money for a holiday and mark one or two products on your bucket list. Closing borders will limit your choice of location, but there are so many fantastic places to visit in New Zealand, this is an opportunity to discover your own backyard.
The most popular activities in New Zealand include descending the Franz and Fox Glaciers, diving in the hot pools of Hanmer Springs, visiting Marlborough’s wine region, or attending one of the country’s sporting events. One thing I should mention here is the Tranz Alpine Express train journey between Christchurch and Greymouth. It is considered one of the best train travels in the world and I do not agree with my experience. It should be on everyone’s bucket list.