What We Want vs What We Buy
Posted by James Kahn on December 14, 2007 in life
There is an excellent blog post over at The Simple Dollar on what we actually want vs how we spend our money.
I’ve been thinking along these lines a lot recently. Go read it.
3 Comments on What We Want vs What We Buy
By Brendon Davis » Blog Archive » Do you Live to Work or Work to Live? on December 16, 2007 at 4:14 pm
[…] to James for pointing out this excellent article. When you have a few min spare, have a read and think about why you go to […]
By Cameron on December 30, 2007 at 6:33 am
Dude I think that the core underlying principle within this article is set financial goals. For some this may be to buy a house, pay off the mortgage, buy a business or make 10 million, if you have the goal then you can work toward it achievement.
Set goals and simple achievable milestones and you will not want to spend on meaningless crap.
Timing is a key element in these goals, Robert Kiosaki teaches the principle of asset building. His defination of an asset is something that puts money into my pocket. A house is not an asset by this defination. So the timing aspect is important because if you have a goal to work a 30 hour week so that you can spend more time with your wife or children you need to have an ‘asset’ that will replace your 10 hours of lost income, and if you have the goal of being financially free then you will need to replace your 40 hours of income with asset generated cash.
I personally belive that for people our age we are at the prime asset building time of our life. If we make a mistake we can recover from it and we dont have dependants. If you are 50 and starting this journey then it is alot harder!
By Cameron on December 30, 2007 at 6:36 am
I forgot to mention in my last comment that your financial goals should be based around your happiness!. Happiness will be the result of achieving the goal.
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