Thought For Today - 9/4/08

Lets’ talk about money in brief (excerpt of a book I wrote about financial freedom a few years back).

Many people spend a whole lot of time worrying about the small things, a little extra yield on their savings, a few dollars less in mortgage payments, slightly higher returns. They study IRS publications and fat tax guides searching for ways to save a few hundred bucks on taxes. They read personal finance magazines, buy books and search the Internet looking for tips. Does managing your money really have to be this complicated? The truth is that if you make the right choices early in life on a handful of major decisions, you'll never have to fear about financial security.

Your Lifestyle

Most people in today’s society are conditioned to overbuy. Shopping has gone from being a chore to a hobby. Even when it comes to buying a home, people calculate what they can afford to pay for a house and use that as the floor price for their house search. They don't even consider less expensive homes.

How You Manage Debt

Credit is the privilege of spending money you don't have. I believe people should avoid it if at all possible. Everyone in government is; understandably, shocked and appalled to discover how deeply in debt the typical American is today. Banks make a lot of money lending to people who can't wait to buy things.

Much love,
Joseph