Who do you work for? Many of us would love to work for ourselves. The problem with working for ourselves isn’t that we cannot do it, it is that our perspective on what it means to be our […]
Money & Personal Finance
Fear. Doubt. Insecurity. Sleepless nights. A neverending sea of “what ifs”… I’m not alone in saying that the amount of hours I’ve spent worrying about my personal finances is in the triple digits. Can I support a family?
Do you have a spending problem? Chances are you don’t. Whenever I hear people talk about how they are in debt because of a spending problem, I tell them they don’t have a spending problem but rather a
Because you are in control of your life. Don’t ever forget that. You are what you are because of the conscious and subconscious choices you have made. – Barbara Hall “How did I end up here?” I thought
Let me be the first to admit to you that facing personal debt isn’t easy. I remember being worried about debt collectors and being tempted by credit card offers coming in the mail, thinking that if I could use the new card to pay down my old debts just for a little while, everything would turn out alright in the end.
Most of all, I remember being ashamed. I didn’t want anyone to know about my situation, but I didn’t quite know how to help myself out of the situation, either.
Unless you have been living under a rock, you will know there are some major problems in the world’s financial markets at the moment. Working for a global bank, I guess you could say I have a front row seat for this debacle that in recent days has worsened with the stunning collapse of Bear Stearns (Update: and all the other recent collapses! There are too many to mention now….).
Much of what I have read has blamed Wall Street for turning the problems related to subprime lending into a major global problem. But I also recently read this Newsweek article where a former mortgage broker shares his insights into the fraud and greed that has plagued his former industry:
Ok, I have a confession. I went a little crazy on the spending in December. Perhaps it was the new credit card I received early in the month. Or maybe it was the new job conveniently located opposite a mall. I don’t know. What I do know, however, is that a “finance guy” such as myself should know better. That’s why I have called this article “8 Important Money Reminders”. Don’t expect to find some new revolutionary money tip here. I’m going back to basics, if not for you, then definitely for me.
Does debt cripple dreams? Or is it the very thing that makes them come true?
My first real experience with debt was a credit card I got back in 2003. I was traveling overseas for 10 months, and a credit card was both a way to access funds whilst away and a safety net for if I ran out of cash. Since it was predominantly a working holiday, for the first 9 months I had little use for the card, and what I did put on the card was quickly paid off from my savings. My last month overseas, though, I was on the road and anyone who has ever been traveling will realize how expensive this is.
How you spend your money is your business. What you may like to consider, though, is that your spending habits can often affect your level of happiness. And what you initially think may make you happy – the new car, bigger house, and large screen TV – may not give you the most smiles for your dollar. With this in mind, I have come up with what I consider are 10 ways spending your wealth can lead you to a happier, and more satisfying, life.