My new eBook is now available. It contains several of the best blog posts from the first year. Feel free to share.
Posts categorized "Education"
01/07/2013
12/12/2012
When less is more
A few (5-6) key frugal indicators offer more return on effort than several (perhaps 50-100) indicators combined. In other words the sum of fifty financial wisdom gems equal the impact of the top five key indicators combined.
An example: Pay as you go vs. use credit cards to get points/cash back/freebies. Pay as you go insures no debt. Pay as you go curtails lust for more goods.
Another example: Get as much education as possible vs. real world experience is the most important/Bill Gates never went to college. Lifelong learning is always a good way to make more money whether working for someone else or in your own business.
And a third example: Pay off debt as fast as possible vs. use debt to leverage your lifestyle/debt is a tool/get debt, get a tax deduction. Debt is a tool, but not nearly as effective as cash. Why? Cash instills confidence, lower prices and hope in the future. You barter better with cash. Cash facilitates a simple, Zen-like approach to life.
Although there are many ways to get financially free, its best to focus on a few key truths to get to your destination quickly and smoothly.
(Photo courtesy freedigitalphotos.net)
11/01/2012
7 Deadly Financial Sins
- Rarely review your bank account
- Make unilateral decisions for your family
- Don't look around for good deals, buy the first thing you see
- Give handouts to your children (especially when they get older)
- Blame spouse for any monetary problem
- Cease looking for better income opportunities
- Never study a book on frugality or abundance
(Photo credit: freedigitalphoto.net)
10/30/2012
The missing ingredient for lasting change
Sound financial intelligence is often stymied by an attitude of indifference.
"I know, I know, I know" is what my 6 year old often tells me. But then he often doesn't act on his professed knowledge. His poor attitude prevents him from applying his knowledge.
How do we grow from knowing to doing?
Improve attitude.
Knowing but not doing is a sure sign that you- not anyone/anything else- need to change.
The good news is that people change daily.
(Photo courtesy freedigitalphotos.net)
10/25/2012
People who know
Meteorologists give lousy landscaping advice.
Lawyers advice on dental work tends to be less than desirable.
Photographers don't make good mechanics.
Everyone knows this, but yet many people still get money advice from...
- news anchors
- advertisers
- broke parents
- reporters
- poor friends
- neighbors who spend more than they earn
People who know financial success are the ones with the fruit on the tree. They pay off debt rapidly, live within their means, save for a rainy day, and constantly increase income potential.
Next time you want advice on improving your finances, make sure you ask people who know finances.
(Image courtesy freedigitalphotos.net)
10/11/2012
10/08/2012
It is what it is
This maxim, depending on the situation, is either completely true or utterly false. I have heard no less than six people repeat this refrain from Hawaii to Utah during the last week.
It is what it is-true (External, unchangeable events)
- The weather
- The economy
- Your forebears
- Your height
It is what it is-false (Internal, changeable events)
- Your weight
- Your posterity
- Your personal finance
- Your job
- Your vehicles
- Where you live
- Your attitude
- Your knowledge/education
- Your ambition
- Happiness in your marriage
We can change much more than we realize. Before accepting facts as unchangeable, make sure it truly is what it is. Most external events are unalterable whereas most internal events are alterable. And remember being unwilling to change is not the same as an unchangeable event.
(Photo courtesy freedigitalphotos.net)
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