I’m all right jack, keep your hands off of my stack. Money, it’s a hit. Don’t give me that do goody good bs.
I’m in the high-fidelity, first-class traveling set and I think I need a lear jet”.
(Note – If you haven’t read the first post in this mini-series, you should. It will make this post more understandable).
Okay, so where were we. Oh yeah, we were extrapolating what was going on in 1973 vs 2007.
Some people yearn for the “good ole days” – Remember the theme song from “All In The Family”?
“Boy, the way Glen Miller played, songs that made the hit parade, guys like us we had it made, those were the days. Didn’t need no welfare state, everybody pulled his weight, Gee, our old LaSalle ran great, those were the days……”
As you know we can’t go back. Who wants to – just imagine – no cell phones, no computers, no internet, no blackberries, no ipods, no instant messaging, no blogs! Yikes! You know what’s worse of all – No Tinu! Arrgh.
Okay, so I’m rambling. Let me get off the shoulder and get back on the freeway – expressway for you easterners.
The theme – as if you don’t know – is – - – -money. Getting money, making money, saving money, investing money.
Even though America has the lowest savings rate when compared to other industrialized countries, that doesn’t mean you have to join that crowd. Be fiscally responsible. Don’t fall into the “I gotta have it now” crowd, wherein you spend more money than you have. The average American saves less than 5% of their income and carries $8,000 in credit card debt. Some people think that if they make the minimum payment on their credit cards, that they’re doing okay. Bullcrap.
If money is stressing you out, try something new. Here’s an old financial planning tip.
Pay yourself first!
When you sit down to pay your bills, pay yourself first. Try to put a minimum of 10% a month into a savings account or other vehicle of your choice. Then pay your other bills. If you find that your a bit short at the end of the month, then change your habits. Maybe one less dinner out. One less double mocha-latte-soy milk-frapachino-iced coffee. One less round of golf, one less of this or that. Make your own lunch at home and take it to work. Cancel your Ti-Vo subscription, heck, throw your TV out the window. You can’t imagine the extra time you’ll have if you don’t have cable. You can then spend time working on other things, your blog, your relationships, your exercise program that before you couldn’t find the time to fit it in. Make a promise to yourself – do this for 6 months. They (who ever “they” are) say that it takes around 40 days to break a habit. I challenge you to do this for yourself. Let me know by Thanksgiving how you’re doing.
I don’t want you to think that I am lecturing you, talking down to you, or slapping you upside the head. Not my intent. I don’t know most of you or where you’re at in life. I just wanted to give you some good advice – something that I’ve been doing for the past 25 years. You can’t imagine how unstressed I am and will remain so.
Good luck – and remember, I will always have your bests interests at heart.
“Let the young man/woman make the money the old man/woman will live on”!
Morgan Lighter
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