My name is UTMT and I’m an addict.
Well at least I think I am. I’ve self diagnosed myself as having an addictive personality. But what exactly does this mean, particularly with respect to my finances? Well here is what wikipedia says about addictive personalties:
An addictive personality refers to a particular set of personality traits that make an individual predisposed to addictions. Addictive behaviours are defined by the excessive, repetitive use of pleasurable activities to cope with unmanageable internal conflict, pressure, and stress.
Now before I reveal my addictions to the world what about that unmanageable conflict, pressure and stress? Well I’m incredibly lucky in the sense that I have a great family, wonderful wife, lovely home and I’m in good health. In ‘developing’ world terms I have nothing to stress. However I’m a ‘developed’ world kid so I naturally have beef with my world.
The thing that saps the life out of me, that causes me unmanageable pain is knowing that I am spending the best years of my life in the office, answering to incompetents and bureaucracy. I’m well paid compared to the average person so I shouldn’t complain, but I do. The simple fact is that if I was paid a lot less I would simply quit and go do something enjoyable instead.
The high salary I receive is a doubled edged sword. It is offering me an opportunity to achieve a situation where I answer to nobody ever again in a few short years time. Without the current salary I would most likely already be a yoga instructor, bike mechanic, beach bum or some such other ‘job’ I’d much rather be doing with my time.
However the very same salary will one day free me from the need to work and give me optionality over my life.
I’m not alone, both Ermine and TEA have already done it. I’m a few years younger than them so unless I get fired, I have a risk free trade sitting in front of me:
Give it X1 more years and you free from this forever!
My Addictions
When I start enjoying a new activity I quickly become obsessed. I tend to get obsessed with everything I enjoy. Alcohol, gummi bears, recreational drugs, cycling, photography, running, work, music and money (amongst many other things) have all made the endorphins flow through my brain at some point in the past and gripped me like crack cocaine.
As my long suffering wife will attest, I’ve been addicted to all of the above at some point. I’ve fallen out with some, replaced others and learned to live with many of them. The point is I take things to the extreme.
Addiction: A Force for Good
Over the years I’ve learnt to harness my addictive personality traits for good. As Chinese philosophy will tell you, every yin has it’s yang and I’ve found that by allowing certain addictions to bloom (those on activities that bring positivity to my life) they quickly overwhelm any addictions that bring negativity.
Addicted to Sport
Ensuring I have a sporting addiction running hot means I’m motivated to keep eating healthily and not drink too much. I used to be big into football and then running before injury forced me to seek other thrills. I shortly after discovered long distance cycling which suits an addictive personality perfectly.
I also go through phases of yoga (my wife discovered my secret sessions with my other woman Esther long ago) and swimming when other commitments prevent me from spending hours out on the bike. For a few years now I’ve also harnessed an as yet untapped attraction to martial arts. I can easily see myself obsessing over the subtleties of Thai Chi , Wing Chun or something similar at some stage in the future.
The point is that if I’m not exercising, getting fitter, striving for more performance from my (mainly mediocre) body then I rapidly go the opposite direction and turn to pizza and alcohol to please my soul in the evenings.
While I’m exercising I cook fresh food and avoid binges on sweet fatty junk like the plague. I’ll research the sh$t out of techniques to help me improve. I’ll live like a monk, what ever it takes to satisfy my addiction. For example I’m not a competitive cyclist (i.e. I don’t race) but despite this I am still a little OTT with my cycling behaviour:
- I regularly get up at 5am to cycle to the train station (the very long way) before work
- My bike tool rack looks a little bit like this
- I have a spread sheet that has every run/walk/cycle I’ve done since 2001 (including gym sessions)
Addicted to Money
In much the same way, my journey to financial fitness (and ultimately financial independence) stops me splurging money on endorphin releasing things like shiny fast cars, rolex watches and expensive beach holidays.
Warren Buffet was renowned in his younger years for obsessively collecting things such as bottle tops. Now I don’t claim to be anywhere near as good as him at collecting money but I’ve always collected things and sometimes wonder if this is a common trait amongst financially savvy/motivated people.
As a child I collected beer mats, empty beers cans, milk bottles and badges amongst other things. As a young man in my twenties it soon became shares, savings and investments though I wasn’t necessarily conscious that I was collecting ‘money’ until about 9 years ago.
Like most of the population I have the weak gene that urges me to buy things online as soon as I identify a need or (more usually) want for something.
Addicted to Future Possibilities
Over time I’ve learnt to use my addiction/obsession with achieving financial independence to question every purchase and delay gratification where possible. Over the last few years this behaviour has turned from developing some good habits (save more, spend less) to more of an obsessive compulsion towards FI.
The idea of creating a ‘passive’ income that allows me to retire seriously early (around the age of 40) is one that has gripped my addictive personality hard. The possibilities that this goal will open up to me are merely acting as fuel for this FIRE.
What are you addicted to?
Notes:
1I’m still negotiating with MRs UTMT what our target FI income is!
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