Archive for the ‘Managing Money’ Category

I read the following article today and it summarises so well what I have been saying from the time I had my own ‘aha!’ moment.  In essence, work more, save more, take on an extra job, start a side business and the quickest strategy of all…. spend less money! Read the rest of the article  below.

Since When Is Saving Money a Bad Thing?

The recession is turning Americans into penny pinchers. Seven out of 10 of us are cutting expenses, a Gallup poll says. And we spend only 86 percent of what we used to.

Just about every mainstream publication I read — including The Wall Street Journal and The New York Times — says this is a bad thing. But they are wrong.

The point they make is that if Americans cut back on spending and save more, new cars will stay on lots. Contractors will lose jobs. Lawn services will be let go. And stores will go out of business. 

So what’s wrong with that?

The fundamental reason for the financial mess we are in is that we have been spending more money than we have. Consumers have been doing it. Businesses have been doing it. And the banks and institutions that hold our money have been gambling it away.

The press wants us to believe that trillions of dollars have mysteriously disappeared from our economy because of this lack of spending. But that wealth never existed in the first place. It was an accounting fraud. The land, the buildings, the machinery, and our human capital, however, do still exist.

When your business is losing money, you cut expenses and work harder. When families run over their budgets, they do the same thing. So why should it be different with an economy? It’s not.

Spending more now will only make things worse. But if you take care of yourself, you will be doing more for the economy than the government could ever do.

So work more. Save more. Take on an extra job. Start a side business. And spend less money.

Thank you Michael. But tell me this… why do people listen to you and not to me? Maybe it’s because you’re a well known and published author… but as long as people listen to one of us, then we’ve done our job.

Once you’ve read this post – leave a COMMENT! Was this interesting or not? Tell me!

A new 3 week CAP Money Course starts on Tuesday 2nd June 2009 and is held again on Tuesday 9th and 16th June. Since the course is run at the Barkentine Health Centre, Westferry Road, London, E14 (Isle of Dogs) it is probably more accessible to those living in or around the East London area.

The course is FREE (always a great price, FREE!) and will teach you the simple way to manage your money effectively.  The CAP Money Course will either help you get out of debt or stop you sinking further into debt.

The course is run by a Christian organisation (Christians Against Poverty). The advisers on the course are people in the church that have undertaken a course that enables them to coach you through the learning process. There’s no hard work to do, it’s all good humoured and fun and the people that put the event on are very friendly and understanding. They even supply tea, biscuits and, occasionally, home-made cakes! Very nice )

Places are limited and on a first come, first served basis so if you are interested I urge you to ring Joan Turner at the Quaystone Church Office on 020 7093 3146 and reserve your place now.

Remember that only knowledge with ACTION is power. Take the first bold steps to sorting out and managing your money. I did and I paid off my mortgage! (I’m writing a book about how I did that so stay tuned to this blog).