The new federal budget for 2011 is now released, and with the proposed deficit of $1.267 trillion dollars, seeing the actual breakdown was actually pretty eye opening.
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Today’s is my birthday, and there are no gifts allowed.
I used to love January, because that’s when many people ask me about gift ideas. But this is changing. Starting this year, thank you so much for the offer but no more gifts. If you insist, let’s go out and celebrate together.
Experience and friendship is much more valuable than stuff.
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You know that investing is necessary if you want to efficiently grow your wealth, but the recent stock market volatility caused you to be wary of investing. However, it is folly to avoid investing altogether, and even though you might be concerned about it. Look. There is no way to completely protect yourself from the risk of loss, but there are things you can do to reduce losses. Here are five investment mistakes to avoid:
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This Make No Sense, But It Does Make Cents.
At the heart of our financial issues are the numbers. Whether it’s investing or savings or retirement accounts, there are usually mathematical formulas that we should understand. I consider myself a logical person, and many of these principles come natural to me. However, I’m finally starting to see the psychological benefits of going against logic.
It might make sense to borrow as much money as possible on your mortgage and invest in long term appreciating assets, but it’s not for me. It may make sense at some level, but I bet I will keep more of my money by not following this advice, and I know I will be happier in the process too.
Here are a few more examples:
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Do you lie?
I was taught that lying can be appropriate in certain situations. These “white lies”, as we call them, often keep the zen flowing in relationships, while other times, they can help encourage others and give them the much needed confidence to improve themselves.
But we go too far. We really do, especially when it comes to money matters.
Did I Tell You Your Savings Rate SUCK?
I’m careless, but it was worth all the marks I lost in those Math tests during my school years.
Many of us come up with brilliant ideas all the time, but we stop ourselves from acting on them because we think it’s just not good enough. We want to perfect the blueprint first, but it often ends up failing because our master plan is forever gathering dust within our brain.
I hate to break it to you, because your idea probably isn’t perfect, and it’s probably not good enough. But so what? Start anyway. It’s not good enough… yet.
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