Comments on: Interview With A Millionaire: Stay Away From Consumption http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/ Personal Economic Development Tue, 06 Jan 2009 01:34:07 +0000 http://wordpress.org/?v=2.5.1 By: FinancialGuruOnline.com » Carnival of Financial Planning - June 28 2008 Edition http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/#comment-425 FinancialGuruOnline.com » Carnival of Financial Planning - June 28 2008 Edition Tue, 15 Jul 2008 05:15:08 +0000 http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/#comment-425 [...] Butler presents Interview With A Millionaire: Stay Away From Consumption posted at The Butler Project, saying, “Most of us think that once you’re a millionaire [...] [...] Butler presents Interview With A Millionaire: Stay Away From Consumption posted at The Butler Project, saying, “Most of us think that once you’re a millionaire [...]

]]> By: Carnival of Financial Learning #5 | Financial Learn http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/#comment-380 Carnival of Financial Learning #5 | Financial Learn Sun, 29 Jun 2008 17:40:24 +0000 http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/#comment-380 [...] Butler presents Interview With A Millionaire: Stay Away From Consumption posted at The Butler [...] [...] Butler presents Interview With A Millionaire: Stay Away From Consumption posted at The Butler [...]

]]> By: Emily http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/#comment-364 Emily Tue, 17 Jun 2008 03:38:31 +0000 http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/#comment-364 You are right on Mel, thanks for the comment. You are right on Mel, thanks for the comment.

]]> By: Mel Marten http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/#comment-362 Mel Marten Tue, 17 Jun 2008 00:29:47 +0000 http://butlerproject.com/2008/06/16/interview-with-a-millionaire-stay-away-from-consumption/#comment-362 As far as cars go, they are a depreciating asset, not an APPRECIATING asset. So, there are 3 financial rules for cars, 1. Buy outright and new (if you can), 2. Buy good quality (so it lasts and you spend less on repairs) and 3. Drive it forever. I personally drive a 12 year old BMW 3 series and love it. It is only worth $7,000 now, but looks and drives better than most new cars (and gets better gas mileage!) Anyway, the point of the article is to spend less. It's all about the balance sheet! If you make $75,000 and only spend $65,000, you are far ahead in reaching your financial goals of the person who makes $200,000 and spends $200,000. Another issue is how you control your emotions after starting to save. This is why many people choose to find a financial advisor: <a href="http://www.claroconnect.com/Financial_Library/amateur_pro_investing.htm/" rel="nofollow">Find Professional Investment Advice</a> Some people simply need a coach, just like they need a diet book or personal trainer. It's not rocket science, but you need someone to give you a plan and encouragement! As far as cars go, they are a depreciating asset, not an APPRECIATING asset. So, there are 3 financial rules for cars, 1. Buy outright and new (if you can), 2. Buy good quality (so it lasts and you spend less on repairs) and 3. Drive it forever. I personally drive a 12 year old BMW 3 series and love it. It is only worth $7,000 now, but looks and drives better than most new cars (and gets better gas mileage!)

Anyway, the point of the article is to spend less. It’s all about the balance sheet! If you make $75,000 and only spend $65,000, you are far ahead in reaching your financial goals of the person who makes $200,000 and spends $200,000.

Another issue is how you control your emotions after starting to save. This is why many people choose to find a financial advisor: Find Professional Investment Advice

Some people simply need a coach, just like they need a diet book or personal trainer. It’s not rocket science, but you need someone to give you a plan and encouragement!

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