Renting is a waste of money, is the general trend. But for Linda (30), buying a house feels like a block on her leg. ‘I want to be flexible in where I live. Wealth I build in a different way.’
- 30 years
- Single
- Lives in a temporary rental facility
- Member since April 2024
‘I was earning enough to build up some wealth, but I had no idea what I wanted to do with it. Google didn’t provide any answers either, with the overload of information I couldn’t see the forest for the trees. I ended up with Elfin, where we worked step by step with my money journey. I was ready to start: what stocks should I invest in?
I spend money on nonsense
‘But we were so far from that, haha. First I had to map out what goes in and what goes out. That turned out to be more confronting than I thought. I found out that I spend a ridiculous amount of money on nonsense. They are nice things, but is it really necessary? When I start investing, I will probably think with every expense: I could have invested this money. I’ve invested in crypto before, but that’s so risky. It worked out well for me, fortunately, I have about 30,000 euros, but it can also fall the other way. I realize that money is a serious business. You shouldn’t play with money.
‘It gives enormous self-confidence when you know what happens to your money and how it works. It’s just like going to school: you build up your knowledge and expertise and that is eventually rewarded with a nice job. It’s the same with finance: the more I know about money, the more peace of mind I experience. And the more my wealth grows, hopefully.’
Keeping options open
‘I am currently renting a temporary rental. It’s a house that will be demolished in a certain amount of time, but it’s fine living for now. I would like to be able to be flexible in where I live, which is why I don’t want to buy a house. I would like to live abroad, or on a sailboat. I want to keep my options open. When I invest in bricks and mortar, I literally commit myself. But I also realize that buying a house is a good way to build your wealth. That’s why I would also like to start investing. I know since I’ve been with Elfin that when you save, you always suffer from inflation. I currently have about 25,000 euros in my savings account. I consciously want to do something with that money. Through the Elfin podcast, I ended up with asset manager Van Eck. I want to start selling my crypto money and then invest that.’
No longer working full-time
‘I don’t necessarily have to stop working earlier in the future, but eventually not having to work full-time anymore, without stress or feeling guilty, that would be nice. I would find it very annoying, though, if I work full-time for years and then don’t get my finances right, making all that hard work feel like nothing. Or that when I want to work less or get divorced someday, that I’ll run into financial problems as a result. I am single and I think it is important that I am and remain financially independent, even if I find a partner at some point. I think it’s also fair to my partner: that way I’m not unintentionally dependent on him. I think you can expect each other to have your finances well organised.
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