"FINANCIAL ADVICE FOR DUMMIES"
The problem is our society does not operate in this fashion, now you know why we are in this economic disaster.
Starting life, we get a check book in one hand and credit cards in another.
Early in life, I was talking with a man, retired professional basketball player, bank president and entrepreneur and he taught me about “Pay Stations”.
He said everything has to pay for it’s self. How much more simple can that be? He did not say anything about budgets or investments, but he did say, "Do not live above your means". What better financial advice can one receive?
He demonstrated his “pay station principle” by taking me around his restaurant. The kitchen, the formal dining area, the bars, the pool, the catfish pond, the bridal shop, the gardens, the vehicles, the officec, the storage areas, even the trash. Everything has value or you wouldn't have it. How thrifty are you? We throw good trash away, just like it is going to magically disappear. How would just that one incident effect the environment in which we live? What about personal hygiene? This man was a self-made multi-millionaire and he attributed the pay station principle to his financial success. What more do you want? Do you want this man to throw his wallet on the ground and run away?
People with the pay station mentality, by how many are you surrounded? How will you learn? Who can better account for your money than you? What kind of doors are you opening by giving your hard earned cash to somebody else to manage, all because they label themselves as financial wizards? We do a lot of things without thinking, including going to the bank. If you can not manage your money, then why even attempt to learn to read and write. I mean how hard could that be? Remember, don't live above your means--greed and intimidation!
I meet a lot of head of house wholes with fabulous homes. They take you around and show you all their luxuries, but they cannot tell you how to do the same, so your check book and credit cards starts whispering to you. You start banking on your high paying job, rather than Good Old Fashion Common Sense.
Common sense is how illiterates become financial successes. If they can do it, then, why not you? Now, you are a successful store manager, a parent who can read and write, yet a financial disaster at home. You couldn't manage your way out of a wet paper bag, if the house was on fire. Okay, here we go!
It is not how well you do with money, because that money will not last…It’s how well you do without, then that money will last.
How many pay stations do you have in your home? Are you monitoring them? How much have you managed to put aside for a rainy day? Is everything on your property paying for itself or do you just pay for them? Or do you just make bad investments? How much money does your computer make, your internet, your telephone? All these are investments, whether or not you take full advantage of them is upto YOU, Mr. Manager.
Pay stations are the best way to make and manage anything, team together and trade. Running a home is the same as running a business. Who’s keeping your books?
Heah, as you can see, I really appreciate that multi-millionaire, from Blachshear, Ga, for sharing with me about those pay stations.
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