Copyright 1989-2005 Harold Melnick
My Dear Children...
Quite a few years ago I promised myself (and you) that I would not give you unasked-for advice. But, because I care very much about you, I am going to break that rule now. I am going to talk about money and the future -- your money, your future.
Though mothers and fathers give us life, it is money alone which preserves it. ...Ihara Saikaku.
But I fear there was also not much in the way of money management for you to observe, either. Your Mother and I didn't really know much about managing our personal finances. She tended to be conservative -- don't buy what you don't need, put what you have in a safe place. I tended to spend, sometimes almost as fast as I made it, feeling that I could always make more.
But we didn't "manage" our money. We usually made enough to take care of what we needed and have some left over. But there was no idea of a budget, no disciplined savings, no plan for the future. Managing Your Money
O money, money, I'm not necessarily one of those who think thee holy, But I often stop to wonder how thou canst go out so fast when thou comest in so slowly. ...Ogden Nash.
So I hope you'll forgive me for intruding into your lives now to try to tell you about some things I wish I had known when I was younger. If you listen, then chose to disregard what I say, my feelings won't be hurt -- I probably wouldn't have listened either. And, anyway, free advice is usually worth only what you pay for it.
I'm going to tell you, in simple, general terms, how to evaluate where you are financially, and how to do better in the future. If you decide you want to know more or ask questions, I'll be glad to tell you what I can, and direct you to where you can get additional information. How Much Are You Worth?
Money won't buy happiness; but it makes being unhappy more comfortable.
But what if you're worth less now? Wait -- I know there were reasons. I don't plan to chide you about it. I just want to tell you how to get control of things and reverse the trend.
When you have money in your pocket you are handsome, you are wise -- and you sing well, too. ...Jewish proverb.
Joan:
You said, "...I have to turn that ad off on the TV because it makes me sick."
I feel the same way. I am appalled at all the marketing that goes behind getting people to use credit. I am not opposed to credit cards per se ... I use them all the time. But i pay them in full each month. This allows me to automatically download my spending each month into my computer where I can keep track of my spending habits.
In 2005 I was able to eliminate ALL my debt. No mortgage, no car payments, everything I own has been paid for in full. the amazing thing about this is that now we are able to live comfortably on social security without touching our savings. We had, in the past, reached the point where we were spending more on interest, than on anything else. It is appalling how much interest costs you each month when you begin living your life on credit. If I had my life to live over again, I would have never used one penny of credit. Yes, this means I would have had to wait longer to get a car or a house, but then I would have ended up with a much bigger house and a fancier car. <g>
I believe it is the youthful impatience to "own things right away" that the credit card companies feed upon. As I grew older and wiser I reached the point where I could not wait to get rid of all my expensive and troublesome "things" and lead an uncluttered life where I began to really enjoy my surroundings and other people.
Smoky
>>As I grew older and wiser I reached the point where I could not wait to get rid of all my expensive and troublesome "things" and lead an uncluttered life where I began to really enjoy my surroundings and other people.<<
Hiya Smokes. I have already reached that stage of my life. As the years go by, I feel the need for less things. Granted, we have a mortgage, but it's likely miniscule compared to most.
btw, I got this way from hiking, mostly. When you carry every need on your back, you realise quickly just how much you actually need. ^_^
A
Sparky .. er Angela!
I sort of noticed that about you over the years. Your messages became more and more oriented to cooking a good meal, enjoying a nice wine, taking a pleasant hike... the good and simple things in life.
My wife finds it a little bit harder to be this way than I do. Her clothes take up 80% of the closet and drawers, yet she only wears 5 % of them. She has about 20 pairs of shoes that travel compared to my 2 pairs plus a pair of "crocs". I would do fine with 2 pairs of shorts, 2 long pants, 5 tee shirts, 2 golf shirts, and small supply of underwear. I have more because she buys me more. Sometimes I think I am her "dress up doll". <g>
She misses having a stick house, but still gets very excited about the magic carpet of a house on wheels. Initially she hated the idea of a campfire, but now she will spend hours by the fire, having learned what a great way it is to meet other people and strengthen existing friendships. Watching a sunset by the campfire over a good wine (or in my case a single malt) beats almost anything money can buy. Yeah wines and single malts cost money ... but a few luxuries are in the budget.
Of course our house on wheels did cost a small fortune (about the same value as our stick house) but we paid cash for it and paid off the old house mortgage. The wheel house will depreciate faster than a stick house ... that is the downside ... but we bought quality and it should last our lifetime with modest repairs and updates.
I have a signature I use on some of my favorite RVing forums:
Smoky SThe magic of a campfirewhere the fish get biggerthe mountains get higherthe hike was uphill both waysand new friends become old friends2005 KSDP3910 Newmar Kountry StarToad - Taurus wagon w/ axle lockCurrently at Phoenix AZ
I've got Crocs, too! <g> If it were up to me, those would be the only shoes necessary. And some hiking boots, too. I've even ordered a pair without the holes for the winter.
There is an expression I've heard about what happens when "you stop owning your possessions and your possessions begin to own you". We've got a friend who has a lot of "toys", and he is constantly fixing them, buying new parts for them, maintaining them, getting new toys. Makes me tired just hearing about it!
I like your little RV quote. Sounds just right and very true. We always hike uphill, both ways. <g>
Sparks
Smoky,
It's truly a wonderful feeling to realize how rich you are when you realize how much you don't need!
Cheers . . .
Bruce
If it were up to me, those would be the only shoes necessary.
Amen to that Angela!
Do you wear your straps over the foot or behind the heel. I have tried both ways and like behind the heel best for me.
Smoke
the problem is that the credit card provides something people cannot get any other way... instant gratification of having it RIGHT NOW. Most people would rather have a few things right now than many many things later on.
Behind the heel. I, too, have tried both ways and it's just more comfortable that way. Don't have to worry about keeping your shoes on.
What color do you have? I've got Molto Mario orange, red, and the winter ones (arrived Wed.) are sea blue.
Sammy's got a pair of the flip-flop style for shower shoes. He loves them, too. We just have to keep spreading the word--think how much more pleasant the world would be if not only did no one's feet hurt, they were a riot of color. :-p
Sparks:
I have two pairs. One is standard "male" black and are my every day pair. 3 years old. The strap finally broke on the right hand one, so aI reattached it with black cable tie. <g>
My dress pair is Psychedelic Orange! You should see me when I am dressed to go to the pool! I wear my orange Cabella baseball cap, my orange dragon Hawaiian style shirt, my bright orange swimming trunks, and, of course, my Psycho orange crocs. I try to ignore the "Quack, quack, quack" duck calls as I flop around in the pool with my orange crocks. <g> If The Admiral gets back here in time, I will break out the camera, dress for the pool, and upload my "dress outfit".
Wow, my Baltimore Ravens are killing the Darlings of the NFK, the New Orleans Saints. 35 to 14 at the moment with 12 minutes to go in the final quarter.
I have to admit, if it were any other team playing the Saints than my Ravens, I would be rooting like the devil for New Orleans. I really admire the effort that city is making and admire the great effort of their football team, the Cinderella team of 2006 with a 5 and 1 record. Soon to be 5 and 2 after the Ravens I hope. <g> I think Billick did the right thing firing his offense coach, Jim Fossil. Billick is calling the plays himself now and the Raven office looks like a crisp new team. Of course their defense is as usual, quite awesome. I was so mad at the pregame show... not a single sportscaster favored the Ravens.
Cincinnati is losing to the Falcons (sorry Chip) and that makes me happy because it will put the Ravens in first place by themselves after today. <g>
One thing you might consider is doing some free-lance accouning for small businesses.
The way you find those jobs is to call or write every non-CPA tax person in the phone book (wait until after April 17, please) and announce that you are available to help their clients who need bookkeeping. Tell them what program you use (Quickbooks is th emost popular, even though it doesn't leave an audit trail) and about your experience.
CPAs often have staff to do accounting for their clients, but other tax professionals -- enrolled agents and those licensed by the state -- are often sole proprietors with no employees and know how to use a referral list!
Good luck.
I could have called someone like you about 3 or 4 clients this year, since February 1st.
