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lifestyle

Wealth

Persistence Is Key For Financial Success

When I was a child I used to have the picture (seen on the left) up on my wall that said, “Never Ever Give Up”. I really liked it because it is the true picture of what it means to persevere. Although it is silly, it gets the point across. Whether you are a frog that is being eaten by a bird or not is beside the point.

You will find that most things in life that are worthwhile involve a lot of persistence. This is especially true for achieving financial success. Persistent people make more money, save more money, and have a higher net worth than those who lack persistence. They are so successful because they never give up.

November 1, 2010

General

Could You Live Without Money?

Do you ever get tired of worrying about money and wish that you could just live without it? Well, a man by the name of Mark Boyle has done just that. Since 2008 he has managed to live what he calls a moneyless lifestyle. He grows his own food, lives in a small trailer, and bathes in a nearby stream. He claims he has never been happier and more content in his life. He also says he is much healthier and more fit now.

Wow! Who would have thought that anyone could survive these days without even attempting to earn money? Although Mark’s lifestyle is definitely not for everyone, I can definitely see the appeal of living like him, at least for a short period of time. But for many people this lifestyle is not feasible due to their existing responsibilities and ambitions. That being said, it doesn’t mean we can’t still be carefree to a certain extent.

August 31, 2010

General

How Much Is A Dollar Worth To You?

I recently read an interesting article on globeinvestor.com that talks about how the value of a dollar changes depending on what life stage you are in. For example, as a child, you would have cherished one dollar as if it was an entire fortune, but at different times in your life, you will likely value it differently. The main point of the article is to set up a strategy so that you are making the best use of your money throughout your life.

For people who struggle all their lives to make ends meet, the value of the dollar will likely be fairly consistent through all life stages, however, for those who have enough money to cover all the bills without a lot of stress, it appears that the value of a dollar becomes less meaningful especially when one is older. According to the article, “… it often becomes clear that the precious dollar of today is better spent than saved for the future, when it will be of much less personal value”.

August 25, 2010

General

Live For Today But Still Plan For Tomorrow

Life seems to be a bit of a balancing act. We need to make sure that we are enjoying the here and now, without neglecting to save for our future. Although none of us are guaranteed another day, we live in anticipation of waking up every morning and carrying on as usual. So although we need to plan ahead, it is just as important that we make sure to live a little in the present, too.

This is something I really struggle with sometimes. I get so carried away with saving for future goals like travel, our next vacation, and retirement, that I do not often let myself spend money on the things I enjoy right now. I make a lot of sacrifices, which I anticipate will pay off in the long run, but again, who is to say that I will still be here tomorrow? That being said, I do not expect my personality will change that much. I will likely be just as frugal as before, most of the time, but I am going to make myself enjoy my money a bit more while I have it.

August 23, 2010

Wealth

What Do Billionaires Have In Common?

Did you know that there are currently 937 billionaires in the world? Compared to the 6 billion people that live on our planet, that’s an extremely small number. So what do these folks seem to have in common? According to an article on globeinvestor.com, most billionaires share 5 common traits: entrepreneurism, frugality, vision, risk-taking, and patience.

So billionaires are entrepreneurs with a vision who are not afraid to take risks, but are patient enough to know when it’s the right time to make their move, and even though they may be rolling in the dough, they don’t spend their money foolishly. That doesn’t sound so hard, so why do so few of us end up to be billionaires, or even millionaires for that matter?

August 17, 2010

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