This blog post relates to Level 1 of the Stoic Paddy Game.
So you have already put a lot of hard work into getting a job and then actually working. You should treasure that hard earned cash.
Pay Yourself First is a common expression that is well intentioned to invest/save portion of wage first. However, I think it is misunderstood as “reward yourself first”. You see, most people will go and celebrate that first wage with pints of booze/shopping or some vice as a reward for completing the first week/month of a job. This is a terrible idea as it immediately creates a habit that can easily get out of control. You will get to reward yourself but just hold your horses for a minute.
Stoic Paddy says “Pay Your Future Self First!” If you are currently still at the start of the Stoic Paddy Game and working through level 1 you need to build up sufficient cash to afford to live independently. This should be your primary goal and you need to look after your future self in order to achieve that goal.
Your money should be divided into 4 areas:
- Future You i.e. Savings Account to achieve independent accommodation.
- Obligatory contributions to accommodation (if any required to maintain)
- Maintaining the minimum standards to keep your job (grooming, transport)
Example: Single person 40 hours @ €9.55 minimum wage – Please adjust these to your local figures/currency/tax
- Savings €200
- Accommodation Contribution €100
- Transport €27 (weekly travel cap)
- Food/grooming €30
Let us assume that you will require €400 towards clothes and some minimal entertainment – You will have €10,000 savings.
In order to maintain this frugal level of minimal spending you will have to undertake some Fuck Poverty hacks.
You can also save an additional €324 if you can walk or cycle to work because Fuck Commuting.
You will also not be participating in gambling, charity, travel holidays and accepting any non best friend/immediate family weddings/events.
People might say this is extreme. But then, they probably haven’t experienced the risk of being homeless. You are in the process of avoiding poverty and you don’t give a shit what other people think.
In one year you have put yourself in good standing in your job and maybe even got a promotion and you will have a €10,000 in the bank.
You Future Self will love you.