do you know which 4mpd credit card elon musk uses

did you know

elon musk got to where he is by optimizing his spending on 4mpd credit cards and maximizing interest rates on bank accounts, brokerage and credit card sign up promotions?

saw a finfluenza talk about tracking expenses and credit card spending

thought to myself, how do i track my expenses?

do i use a budget tracking app?

do i use excel or google sheets?

do i use my own custom notes app?

actually, i dont even track my expenses

i only do 2 things

1. skim through my credit card statement for any weird charges

(99% of the time it is because the parent company name is different from the "store" name)

2. make sure that the linked bank account has enough balance to auto deduct

i used to religiously track my expenses. i later realized it is MEANINGLESS

if you are a proper functioning adult it just gives yourself wayang pointless work

you FEEL like you are improving your situation since you are doing something

but actually, this is just digging holes and filling it back up

your monthly breakdown of starbucks expenses goes from $123.45 to $234.56 between months

okay, now you know, then what?

no starbucks?

cai png only?

congratulations, welcome to my blog

the extreme case it helps is to discover stupid spending habits

you track your monthly expenses and suddenly discover you spent $10k last month at siam diu

but the solution is not tracking your expenses better

the solution is fixing your stupidity

i want to bring this up cos this is a widespread mental illness in asia

you can "save" to prevent yourself from being broke

but you cannot "save" and become rich

you can save and become comfortably poor

but you will never be truly financially rich

(you can always be rich in other things, like happiness and relationships etc etc etc)

after doing very basic common sense things regarding expense management

the real solution to money problems is to make more money

who do you know that has "save" themselves into being financially rich?

the answer is nobody

if you think you know somebody, you are wrong. they are just comfortably poor, not rich

every financially rich person has an abundance mindset and works on domain expansion

they are not afraid to invest and spend money on things that will bring them greater utility

yes, they can scrub the toilet themselves and save money

or they can spend money and outsource this menial labor and do better things with their time

so yes, elon musk got to where he is by optimizing his spending on 4mpd credit cards and maximizing interest rates on bank accounts, brokerage and credit card sign up promotions

he spends using his UOB lady card (first $2000), DBS womans world (first $1500), HSBC revolution ($1000) and of course the amaze + Citi rewards combo ($1000)

of course, he checks the MCC before spending and since he tracks everything, he puts excess spending on his general spending card

if you want to be rich like him, i strongly suggest you to do the same