Quote:
Originally Posted by Ragnor
 Lol. Sorry, but really LOL. The first part about size of paypacket is crap as the world is an expensive palce, but the second part about what you do with it is not. Here's my advice. 
Create an ABC List.
Make a list of everything you need to spend money on. Assign an 'A', 'B', or 'C' to each expense.
A= Essential
B= Important, but not essential
C= Everything else.
Spend your money on 'A' & 'B' list first. A % of your income should be saved and hence in the A list.
Now here your grandparent's were right and wise so h ere's a free tip. The difference between a poor person and a rich person
is that poor people spend their money and then save what's left, if any at all. Rich people save their money, and then spend what's left.
NB. Learn the principle of Compound Interest. I won't write it here, Google it. If you follow the above principles, you will make your money make more money and slowly (or quickly depending on how big your pay packet or accumalative wealth already is), you'll never be short of excess money to spend on pure entertainment in whatever form that is for you.
Here' some advice as well. Las Vegas was built on those who lost at gambling not those who won at it. EU is totally dependant upon the majority of people depositing more than a minority take from it. Think about it.  |
I see now, OK.
Let us test your theory about paycheck size not mattering as much as what you do with it, being crap.
Person 1: Makes 50K a year, spends every penny he makes on expensive cars, a large McMansion (big poorly constructed house in the burbs) and all manner of bling and geegaws. Never saves a dime and is in debt many times over on Credit Cards and such.
Person 2: Makes 14K a year, Walks to work, lives cheap in a low rent apartment. Has a detailed monthly budget he sticks to like glue, looks for bargains when shopping, clips coupons, and invests 20% or more of every paycheck in wealth building investments like stocks, bonds, money markets, etc.
Who is the rich one and who is the poor one?
Dex
