YOUR HOME IS NOT A PIGGY BANK!
People today are using their homes as piggy banks. Taking the equity out and re-financing their ever increasing personal debt.
The sad part of this, is that unless these people get control of their debt – their debt will take control over them and never allow them to get ahead financially.
These people will forever be in financial stress and that really saddens me!
Poverty consciousness is very real. Some of us were raised by the worst financial planners in the world – our parents. I’m sorry if I offend some people, it’s not my intention and I am not finger pointing – it’s just not their fault.
Financial education is not taught to any magnitude at school. What we are taught is the fundamentals on how to work for money and how to get a good job. We are not taught what to do with our first pay check once we receive this and how money can work to our advantage.
With every person that earns an income they should be paying themselves first!
What do I mean by this?? Well some of you may have learned this concept from a very old book “The Richest Man in Babylon”. Or some of you may have heard it from wise Grandparents or Parents. I was fortunate to learn this lesson in life from my parents. When I earned my first dollar many years ago, I was “strongly encouraged” to put 1/3 of this into a savings account.
The book “The Richest Man in Babylon” talks about paying yourself, or putting away 10% of your salary and letting it grow until it can be used to buy investment opportunities. Now that’s making money work for you!
You see it’s hard to help the poor if you are one of them.
MONEY IS UP THERE WITH OXYGEN!
They say, money doesn’t make the world go round, well I have to disagree with whoever said this. Whether we like this statement or not, without money life is extremely challenging and not as much fun!
Understanding money, how to keep it and how to grow it is essential to our life, relationships, happiness and future.
Your hard earned money should work for you and not you working for it!
The wealthy and comfortably abundant people have figured this out.
Embark on the journey with us at Financial Management 101 and acquire a greater understanding of how money working to your advantage will be life changing in all areas of your health, wealth and wisdom.