Lets talk about money

 Everyone wants to have a great life. You dont need to earn a million dollars to do that but you need a little extra to enjoy some perks. There are many things I learned about money that I wished I had known earlier. A lot of us who are not business or finance majors, have not invested time getting to know the fundamentals. Education prepares us to be good workers but fails to teach us how to keep and multiply what we earned. It is paramount that we all find time to educate ourselves about how to make money work for us.  Many companies no longer pay pensions and even social security is at the brink of collapse. There are suggestions to increase the retirement age and that means people may have to work longer. I don't want to keep working all my life if I have the option of my money doing that. I was watching a program on ESPN2 about  many athletes who had earned millions in their careers became bankrupt after retirement. Mik Tyson earned over $400 million during his career and yet filled for bankruptcy. Michael Jackson did not die a wealthy man after making a fortune in his life time. You may be thinking you don't have that amount of money, and you don't have to worry. The truth is a future that is not prepared for is short lived. You may be having a hard time financially now, but the lessons you learn about money can make a difference in your future.   It is time to start showing some interest in some financial education.

 I started by reading the Richest man in Babylon and Rich Dad Poor Dad.  Some simple tips are I follow are - I buy only what I can afford.  Do you really need a credit card? My credit card is used mainly to acquire points and is always payed off every month. Have a monthly budget, make your own meals and reduce the amount of dining outside. Save a percentage of whatever you earn. It is important you separate needs from wants.

I remember reading "The Millionaire Next Door", Thomas Stanley measured wealth as how long you can maintain your life style after you stop working. Robert Kiyosaki, the author of Rich Dad Poor Dad, said the difference between the rich and the middle class is based on how they think. The rich mind  sees an item that is expensive and asks, "How can I afford this". The poor mind says, "It is too expensive" and looks for an alternative.  You may want to look at yourself other than the degree you got in college, and use your hobbies/talents to increase your income. What  are hobbies that can translate into a potential income for you?

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