Finance & Accounts
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Activity:
21 views;
last activity : 07 27 2011 03:50:54 +0000
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Treat money like it is a TOOL
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Fast fooding
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Long tem investments.
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Planning and dont be greedy...
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Pllan monthly budget
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For every TOOL there is a User Manual. Whereas for money there is no sure shot User Manual. It is what and how our parents, relatives and elders teach and behave (with regards to money and wealth) that sinks deep into our mind and we follow them. Some of the common mistakes that people make - Mistake 1. This is "Good Money" and "Bad Money" - Money is the same. It is the way people use it or earn it that make it good or bad - and that too in the minds of people only. The note does not carry any emotions or goodness or badness. So, if you get money treat it like money and don't label it as good or bad. Use it for purpose that is "BENEFICIAL" to you (Please note that one mans "Amruth" (benefit) might be another mans Poison). Mistake 2. Hoard Money :- This is another Mistake. Save money, create wealth with money, but do not Hoard money. Anything stagnant brings a stink and also STOPS further IN-FLOW. Hence spend wisely, save wisely and do give charity - this keeps the flow going on and on. Mistake 3. Not creating wealth earning opportunities :- As in previous point, do not let money be idle. Invest it in something that would be useful to others at the same time increase wealth for you. You can create a small business where others can work or even invest in some form where someone else re-invests in business where they give opportunities for others to earn (shares or mutual funds or even fixed deposits in a bank). Mistake 4. Getting addicted to something or someone where you spend money without thinking. Mistake 5. Not learning from your past mistakes. These are only some points. There are many more such points. Read articles about some rich and famous people like Warren Buffett (Walmart) to know more. Just try and follow them to create wealth and minimize the mistakes that one makes. |
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Yes eating fast food is cheaper. I remember a friend who was happy that there was McDonalds near our house. Her idea was to have a happy meal instead of spending on anything else because it was comparatively chaeper and made her feel fuller. But this habit in long run led to many health related issues and she ended up spending a lot on medical bills. Far more than she had saved by eating fast food.
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Some people think that by having long term investment plan like insurance that money is blocked and it is less productive, but in actual long term plan gives better and secured income. In many of the short term plans one losses money more quickly and some time one come to know of the loss after some time only.
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All it requires is planning for a steady spending and to know when to say enough. Being greedy for the better things in life will make you go on in search of material wealth. You should know when to say enough and put your foot down on further quest and spend of material wealth.
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Thanks,Rashmi for referral.i will not address it as stupid but irresistible desire to have newly advertised item or consumable.One should have strong sense of saving and plan the budget accordingly and allocate the expenditure.Once this is done,irresistible desires will turn into resistible.
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- Create a confidential Career Profile and Resume/C.V. online
- Get advice for planning their career and for marketing of experience and skills
- Maximize awareness of and access to the best career opportunities
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When we are watching news channels or any other channel or reading news papers you bump upon... |
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we all know the perils of talking on cell phones while driving. besides being hazourdous to... |
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Sometimes our moeny saving thought process is narrow and we do some stupid mistakes which actually makes us spend more than we save. Such mistakes should better be avoided. To avoid first we need to know what all mistakes can we make. So let us... |
Integration of goods and services taxation would give India a world class tax system and improve tax collections. It would end the long standing distortions of differential treatments of manufacturing and service sector. The introduction of goods and... |
Ego comes naturally ..as you rise you either need to protect yourself from it or it will show its colour. Ego clashes come out of four walls in no time. |