"What is the bare minimum I need to avoid ruining my life?". Well it is typical in human psychology, when something seems a little bit intimidating, or if something might give you answers that you do not like to kind of ignore it, and pretend like it is not there. And money is one of those things that I think some people like, " well if I were really to look at my finances, it may be a little intimidating. But also, it may give me the answer that I don't like. It might say that, I can't afford that." The truth is we all want to be able to afford somethings like that fancy dress, fancy sports car or being able to go out with friends to a certain fancy restaurant. So we end up ignoring our finances and setting up ourselves into a disaster. In short term we are enjoying those but in the long term, if you are not thinking about your finances. You are going to be up all nights as you have financial stress. It is going to make things hard for you to engage with family, friends and work. Therefore short-term gain for long-term pain is not a good trade off. Do a basic back-of-the-envelope calculations like, how much after-tax money are you bringing home each month? Look at your expenditure? And have a general sense of this. Write down what you think you are spending on and compare it with your bank statement. You might be surprised on how much unnecessary things you are spending on.
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