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It's Not the Size of Your Bank Account
You might think that if you win the lottery or get a huge raise, all your problems will be solved. Sounds logical, right? Well, it might sound logical, but it isn't. Having a bigger bank account will not make all of your problems disappear. Why? Because money is nothing more than a giant magnifying glass. Any problems you have with money only get bigger when you have more of it. There are people who earn $150,000 a year who have huge money problems because they have never learned how money works. So, if you are want to implement another top wealth creating habit in your life, learn how money works while your bank account is still modest. Deal with any out-of-control spending habits, plus any fear of loss, fear of risk and fear of money issues you might have. If you start small, you'll be able to make a lot of mistakes without it costing a bundle. You see, if your bank account is large, chances are that you will want to play big with your money-buy large things, invest large sums and take huge risks. If you're not well-educated about money, though, or don't have a lot of experience yet, huge risks can equal huge loss. But if your bank account is small, you'll be more inclined to learn how to handle your money carefully and frugally, which minimizes your down-side. Sam Walton, founder of Wal-Mart and Sam's Club stores, always proclaimed that if he controlled his expenses (i.e. kept it small), he could afford to make a lot of different mistakes. So if you think that you have to wait until you win the lottery to start learning about money, think again. Now is the time to start, while it's all very small. You can't hurt yourself too badly when your bank account is small, and you can learn a whole lot. It's never the size of your bank account that matters-it's how you deal with money, no matter the size of your bank account. And in this case, the size does matter and smaller is better. Good luck on implementing this top wealth creating habit! About The Author
Latest News:Site: Yahoo! News Search Results for news 2002's News, Yesterday's Sell-Off (Washington Post) A six-year-old article mistakenly seen by Bloomberg financial news users yesterday reported the bankruptcy of United Airlines and triggered a massive sell-off that nearly obliterated the company's stock in a matter of minutes. Lesson 6: Broadcasting news (BBC News) Students practise reading the news and produce a news programme adhering to a strict deadline. ABC News campaigning in all 50 states (Reuters via Yahoo! News) ABC News will be hitting the road -- and the rails -- for a whirlwind tour of all 50 states before the November election. Lesson 5: Ordering news (BBC News) Students order several reports to make a news programme which appeals to a specific audience. Lesson 3: Writing News (BBC News) Students write a news script which is clear, concise and correct - the three Cs of journalism. UAL shares walloped by new posting of old news (Reuters via Yahoo! News) A nearly 6-year-old news story on the 2002 bankruptcy filing of UAL Corp resurfaced on the Internet on Monday, clobbering the airline's shares as some traders mistook the report as current and plausible news. ABC News hammering out Palin interview plans (Reuters via Yahoo! News) ABC News is spending more time trying to assemble the logistics of its exclusive interview with Republican vice presidential candidate Sarah Palin than it did negotiating with the McCain campaign itself. Game news: 'GTA IV' hits 10 million, EA meets ESPN (AP via Yahoo! News) Real news from the virtual world: Column: 'Daily Show' Is One Of Few Fair And Balanced TV News Shows (CBS News) I have this silly little habit of watching the Fox News Channel when I'm bored or in some weird self-loathing state of mind. So for the Republican National Convention, I thought it appropriate to bathe in their conservative credibility instead of the CNN/Barack Obama PDA I witnessed the week before. Google News snafu leads to airline stock plunge (CNET) After an investor news wire service mistakenly highlights a 6-year-old news story (allegedly sans time stamp) about United Airlines filing for bankruptcy, shares of the carrier tank. Warning: MagpieRSS: Failed to parse RSS file. (> required at line 14, column 29) in /home/.hellodolly/jsteiner64/scholarlyarticles.org/investing/magpierss/rss_fetch.inc on line 238 Site: Warning: Invalid argument supplied for foreach() in /home/.hellodolly/jsteiner64/scholarlyarticles.org/investing/inc/ads-body.inc on line 52 MORE RESOURCES: Site: Yahoo! News Search Results for investing Investing for your kids' and your future (CNN Money) Talk about investing in uncertain times. At the beginning of last year, Susanne Elliott was downsized from her management position at a record label. Then, just two months after she found a similar job at a competing firm in August, the bear market struck. Virtual investing platform UpDown.com gets $1m investment (Finextra) UpDown.com, the leading social platform for virtual investing, today announced a $1 million investment from Switzerland-based angel investor Joachim ... Virtual Investing Platform UpDown.com Receives $1M Funding From Swiss Angel (CBS News) The virtual investing social gaming platform UpDown.com secured a $1 million investment from Switzerland-based angel investor Joachim Schoss, bringing its total funding to over $2.2 million. Started by three Harvard entrepreneurs in September of last year, the Cambridge, MA-based UpDown also offers a stock market game that gives members $1 million in virtual money to invest and capabilities to ... BRIC Investing: China (AskMen) Like this list? Buzz Up on Yahoo! BRIC Investing: China Goldman Sachs coined the acronym BRIC in 2003, in a global economics presentation designed to introduce their clients to the countries they believed to be the four dominant emerging markets of the future. Puget Sound Energy Investing Heavily in Electric and Natural Gas System Infrastructure to Meet Customer Needs Now and ... (wallstreet:online AG) Puget Sound Energy (utility subsidiary of Puget Energy (NYSE:PSD)) is investing approximately $421 Puget Sound Energy Investing Heavily in Electric and Natural Gas System Infrastructure to Meet Customer Needs Now and ... (Business Wire via Yahoo! Finance) BELLEVUE, Wash.----Puget Sound Energy (utility subsidiary of Puget Energy ) is investing approximately $421 million in service-area infrastructure improvements in 2008, of which about $247 million is earmarked for capacity and reliability upgrades, and about $174 million is allocated to meet growing customer needs. Chasing Blockbuster Drugs, Using Chinese Help (BusinessWeek Online via Yahoo! News) When Curis (NasdaqGM:CRIS - News) went public eight years ago, it symbolized the unbound optimism of biotechnology. Its stock rose fast, to 25, and it possessed promising technologies. Ever since, Curis has illustrated the risks of investing in biotech startups. There have been heartbreaking setbacks in clinical testing, failed partnerships with Wyeth and Procter & Gamble , and collaboration ... Prospects of investing in emerging markets brighten (MENAFN) Prospects of investing in emerging markets brighten Questions About Online Brokerage? Reverse Mortgages? 401(k) Investing? FINRA Launches New Podcast Series to Give ... (Centre Daily Times) The Financial Industry Regulatory Authority (FINRA) today launched a new series of Investor Podcasts that provides clear, unbiased information on a variety of financial issues in an easily accessible format. How to Start Investing in Miami Real Estate Market (Turks.US) Want to invest properties in Miami real estate market? But, do you have any idea on how it works, on how to get the right properties and gain great deals? Warning: MagpieRSS: Failed to parse RSS file. (> required at line 14, column 29) in /home/.hellodolly/jsteiner64/scholarlyarticles.org/investing/magpierss/rss_fetch.inc on line 238 Site: Warning: Invalid argument supplied for foreach() in /home/.hellodolly/jsteiner64/scholarlyarticles.org/investing/inc/rss.php on line 26 |
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