Saturday, January 21, 2012

Think Yourself Richer

When it comes to improving our finances we could all learn a few lessons from the world’s wealthy, says Iwona Tokc-Wilde

Financial independence can mean many things: being able to buy exactly what you want; living debt-free; being able to take a sabbatical from work. But, at its core, it means pretty much the same to all of us: complete freedom from financial worry.

So why do so few people attain it? It’s time to find out which of these psychological barriers is stopping you…

You don’t know the real value of money

A recent study shows that although 50 per cent of us have a savings account, more than a third don’t know what interest rate they’re currently earning. But it pays to pay attention to these details, says Kelley Keehn, personal finance expert and author of The Money Book For Everyone Else:

“The wealthy enjoy spending their money but they also respect it and know how to keep it – they read their credit card and bank statements, negotiate rates, ask for discounts and read their restaurant bill before paying. Billionaire Warren Buffet still drives his old Ford pick-up truck.”

Read the full article here:

From Sense Magazine in the UK

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