On October 17, 2005 a new bankruptcy law went into effect. It makes
discharging unsecured debts almost impossible. Immediately after the
new laws went into effect, BK's dropped to 30%. But today, over a year
after the new law, they are still back on an ever increasing track.
People have to have what they want. They can not wait to get the
necessary money. We call this "consumerism". Don't you be so foolish.
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"In the absence of clearly defined goals, we are forced to concentrate on activity, and ultimately become enslaved by it." By Charles Coonradt
This quote should spur each of us on to the importance of clearly seeing where we are going. If we do not have a spending plan, we have not way to see how well we are doing. If you were a captain of a ship, you need two stars to guide yourself by, one as to where you have been and one for where you are going. Just a thought.
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If you’re like most Americans, you’ve probably had the following conversation with yourself, “I’ll begin putting some serious money away just as soon as I get my debt paid off and I have some extra cash on hand.” Sound familiar? Sure it does, especially if you’re struggling to pay the bills.
But isn’t it funny how the debt never seems to go away and the “extra cash” is never on hand?
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Anyone can spend money, even a 4 year old. It takes a lot of wisdom,
courage and discipline to put some surplus money away for something
more important in the future. Soon, as the reserve balance grows to
exceed your monthly spending amount, you can now be one month ahead
instead of living paycheck to paycheck.
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A scientist came up with a rating for earthquakes. If one registers 1.2 on the Richter scale, this is a small earthquake. You may not even feel it. But when one hits the 7.4 mark, this means buildings come down and people get hurt and even killed.
At Money Mastery, we suggest you meet with your spouse once a week and practice "instant forgiveness". If you are single, do the same. Single people treat themselves the same as a spouse so don’t think you are any different. Registering small adjustments is much better than waiting for a build up and hitting the 7.4 mark.
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Most people get a sick feeling when they hear the word “budgeting.” That’s because most money budgeting programs make people feel restricted and tied down. But “budgeting” your money doesn’t have to be a drudgery. Now is the time to change the way you think about keeping track of your money.
Did You Know...
National statistics reveal that 83 percent of the millionaires in the United States are self-made.
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Why the Majority of Americans are Sick and What You Can Do If You’re Ailing
Martine Osterhoff* is on her way to the mall for the fourth time this week. She’s going back to get shoes she saw earlier while shopping with her daughter. Martine admits she’ll have to use a credit card to buy the shoes, a card she’s already pushed to its limit, but as she tells her husband with a laugh, “I can’t help myself, it’s like a sickness with me.”
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The answer to the math equation below is simple, everyone knows it:
1 + 1 = 2
Now suppose we represent that same equation using oranges instead. If we add one orange to another, how many oranges will we have? Again the answer seems simple — it should be two. But let’s suppose for a moment that we don’t add the second orange for a while.
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Any successful person in history has had their share of failures and set-backs. Abraham Lincoln ran for office 14 times. He won only two of them, first as a congressman and then as President of the
United States.
Thomas Edison recorded in his journal over 10,000 failures before he invented the light bulb.
Just know that you may only be 999 more failures before you reach dynamic success. Don’t give up.
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With the Super Bowl, comes instant replay. It is nice to see a
fantastic play over and over. And do you notice from several angles?
Contrast the view from the real player, the right tackle. He gets to
see ten square feet of grass. Of course the quarter back sees more of
the field, but he is also concerned about the opposition coming to
massacre him.
The
same exists with our finances. We need to deal with them on a personal
basis, but it is important to have a master plan that extends over all
your finances much like the blimp in the air.
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