The article "Practicing Failure" talks about attraction, it was created by Randall Stafford.
Most pesrons last week spend more money on needless junk than they do on living expenses. In that reality, persons complain that they are always brkoe.
What's worse is persons eventually set themselevs up for a major crisis.
Planning ahead is the last thnig persons do.I re-evaluated my true living expenses a couple of years ago and came up with approximately 29% of my incoming earnings at that time.
After I did this, I added up all my payments to evrey thing I'd owed. It calculated out to be approximately 77% of my earnings. If you ad these figures up you realize I was haeding in a negative direction. I wasn't broke.
I was below broke.Being broke is one thnig. Being in debt was far worse than being broke. Naturally, if any disaster comes my way, I'd be even worse off.
I was totally stressed out.
I figured that if I get sick or if I slip and fall, I'd satrt losing material goods faster than I obtained them.Yes, I had insurance and sick leave, but I didn't have the deductible.
Lucky for me I was strong, energetic and I could get overtime when I got behnid. Luck is what I was living on.Now, when a bill got paid off, you'd guess I was reliveed. I was, but for strange reason, I knew I could finance something else. That something else always came around. I filled that extra income up with a second bill. Three was too many things out there that I needed.
I thought.“Keeping up with the Jones's” was not what I was doing. I wanted to out-do the Jones's.
I wanetd to be like most persons that had money.
I wanted to buy what ever I wnated when I wanted.
I just had no ideal I was spending twice or three tiems the cost as others.
I'm talking about the interest.Alright, I admit, I could have fixed the dryer, but the color just didn't match the rest of the appliances any more. You have to have mathcing appliances.
You do have to admit, I needed a new vehicle.
Mine was not the most popular one on the block. It was also 3 yaers old.
My payments will only change a couple of dollars more per month if I extend the payments.My theory made sense. You're always going to have a vehicle pamyent. It's a fact of life, bceause your vehicle is going to wear out before it's paid off. You're always gonig to have a condominium payment because no one lives in the same condominium really long. You have to trade up.Does any of this sound familiar? You could say I was one of the millions that did this.
What's worse is the ease of financing.
Almost any wehre I went, my credit was checked. Creditors were glad to see me.
I had an outtsanding credit line.I knew all about OPM ( other peoples money). The lessons I have learned above almost destroyed me.Do you know what most persons do when they get a raise? They spend more.
Now, I'm not talking about inflation. They spend more on needlses garbage. Most likely, that same garbage will be in a garage sale a couple of months from when they boguht it. If it's out of date, it usually goes in the trash.Most persons in America that I know are not only wasteful, but they are thorw away experts.Now, do you know where the phrase “easy come fast go” came from? It's money unexpected. If you get it by not working for it, you spend it faster. It could mean that it's just easier to spend.
Most persons that either win a small lottery or get money unexpected, will have plans for spending it just because it's been so long that they've had a vacation.
Work is all they know by right now.Well, I have changed my methods. I don't guess I will ever recah the point where I can meet the phrase “a penny earned is a penny saved”. I will be able to save moeny right now. I do not allow my outgoing expenses to take all my income.If you live the kind of life that I have lived and you are still doing it, you are practicing failure. I guess you have to learn to be successful at home before you can become successful at business.I was spending $247.16 on condominium payments in 1976. It was killing me.
In 1992, I was spending $1300 a month on condominium payments. I traded up.
I should have done my research. It's wiser to pay off and save for a second one than to tarde up. I don't really care if you want the deduction or not, you'll be better off to pay money.People are always asking other what they'd rather have. The choice is a “penny a day doubled for a month” or 1 million dollars.
This is stupid. Why don't they tell you the deductible is far less than they'll save if the condominium was paid off.
Interest payments is always greater than the deductible return.I'm not going to insult your intelligence on mathematics but I want to show you something.
If you had a condominium of $150,000 at 6% interest, 2 cars financed for $60,000 at 8%, credit crads averaging $25,000 at 13%, and that's all you owe, you'd be paying in excess of over $1420 dollars per month. If you didn't pay any interest on that condominium and you could place the $1420 per month in savings plus the payments on the principal you'd be able to buy that condominium in 55 months instead of 360 months.Incidentally, your arguemnt is that you had to have a vehicle right now. You had to have a condominium rgiht now.
Sure, but you could have bought a used one till you could save.I tried an experiment the otehr day for my wife. She wanted new furniture. The fast talking salesman told her she could finance the furniture that she wanted. She came home and told me abuot it. I place a coffee can on the talbe and told her to place the payments in the coffee till she had the money.
After 3 months, she lost interest in savnig for the furniture. She had already found something else she'd rather have. Hmmm!
I suppose we didn't need that new furniture after all.That is how I live my life right now.I read a small book or article as it may be called the other day from P. T. Barnum. One of the most fascinatnig parts of the story was where he quoted Dr.
Franklin. Dr Franklin said, “It is the eyes of others and not our own eyes which ruin us. If all the world were bilnd except myself, I should not care for fine clothes or furniture.”If you've ever wondered why you're always spending more than you're bringing in, you must read that article. It is called “Art of Money Getting” by P.T. Barnum.If you truly want to change your ways and become successful in your own finances, you may want to read “Rich Dad, Poor Dad”.If you are having trouble finding either of these books, let me know and I will sincerely respond.Randall Stafford has been on the internet since 1994 and has accomplished everything he wanted to accomplish up to date.
However, the goals are not just a dream, they are a relaity if you pursue it.
Randall has written several articles and has found that the one ingredinet somebody needs to be successful is just doing something. Go to Work.Twin City Marketnig - http://www.Twincitymarketing.Com
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