My wife will be the first to tell you that I am pretty darn lazy. While I do not have much downtime in my day, she knows that while I’m working, I’m doing it as efficiently as I can. I call it… being efficiently lazy.
While you may think that I am trying to put a positive spin on a negative trait, I see it much different. My ... Read more
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Common sense dictates that if you are poor and start living like a rich person, you will eventually become rich. By the same token, if you are rich and start living like a rich person, you will eventually become poor.
So what are the things that Rich People Do? Dr. Thom Stanley takes a look at the lifestyles of the wealthy over a long period of time in "The Millionaire Next Door", and offers much insight into what the rest of America can do if we want the best chance possible of becoming wealthy. One thing Dr. Stanley points out is that the average millionaire doesn't care what you think about his car. On average, he drives a 2 year old or older, paid for car, and hasn't made payments on any car in a few decades. It just doesn't make sense to make payments on something that is losing so much value with every passing day. Sam Walton, the founder of Wal-Mart, drove a beat up pickup truck until the day he died, and at one point was the richest man in America. Most millionaires also live in modest homes, and may be living next door to you and I. They do not overextend themselves by making outrageous mortgage payments, nor live in huge homes. Believe me, most of the huge homes you see have huge mortgages and expensive car payments parked out front to match. I often hear, "But if I was rich, I wouldn't have a car payment either." The fact is, it's not having a car payment that leads a person to a debt-free lifestyle and the accumulation of wealth. In a recent survey of the Forbes 400 (very rich people), the majority of them stated that the most important thing they have done on their way to millionaire status is to become and stay debt-free.
There was a long term study of graduate school students completed between 1960 and 1980 by Srully Blotnick, an American author. In that 20 year period, he studied 1,500 people and grouped them into two categories.
Category A ... If you're like me, then you may continually be looking for ways to teach your children valuable life lessons. I only know of a handful of topics that are as important as money.
If you love your kids enough to arm them with th... People often apply for a loan without properly considering what difference the rate of interest makes, they will often take the first loan offered to them, without a thought as to, if they could have saved mo... College students often find themselves paying only the monthly minimum payment on each of their credit cards due to limited funds. It is not uncommon however, paying only the minimum payment can lead to outrageous interest accum... If you have ever struggled with your own money management issues, you probably know how difficult it can be to deal with personal finance issues. If you have made it to the light at the end of the tunnel, and have been able to o... Retirement is the point where a person stops employment completely. A person may also semi-retire and keep some sort of retirement job, out of choice rather than necessity.
To some, this is the end of the road of years of he...
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