The beginning of a new year is a great time to set goals for the coming year. In this article, Rick Kahler describes a way to manage your money that is a little different that standard budgeting. I think that he hits some really key points here and thank that everyone could benefit from reading this article.
Happy New Year!!!
Here’s a new twist on an old New Year’s Resolution: If you want to give yourself the security of financial independence, try budgeting the way many wealth accumulators do.
The secret? They don’t budget.
Your first reaction might be, “Of course these people don’t budget! They have so much money, they don’t need to.”
That may be true for some of those who have money today, but I’m referring to people who want to remain wealthy or those who are “wealth accumulators.” These are people who don’t start out with money, but who build up significant wealth over time.
Many successful wealth accumulators don’t follow a detailed budget in the traditional sense. Instead, they develop the habit of living on less than they make. They do this by setting clear priorities. Here is how it works:
see the full article here: Rick Kahler: Build Wealth With a No-Budget Spending Plan | Financial Awakenings.
Companies are experiencing a crisis in employee engagement. One of the problems is all the pressure companies are putting on employees to produce. Workers are trying to get more done in less time-and are burning out. But while time is finite, energy is not; people can increase their reserves of personal energy. The key is to establish rituals-such as shutting down your e-mail for a couple of hours a day so you can focus on priorities, or taking a daily 3 p.m. walk to get a breather-that renew yo… Read More »
via The Productivity Paradox: How Sony Pictures Gets More Out of People by Demanding Less – Harvard Business Review.
With Christmas time here NOW, here are some great ideas for giving.
Enjoy the article. And have a joyous Christmas.
Salvation Army bell ringers. Angel trees. Appeals in the mail from charities, churches, and community organizations. Office and club gift exchanges. The family Christmas list that expands year by year.This time of year, the spirit of giving gets a serious workout. For some of us, it can quickly turn into a spirit of frustration as we feel overwhelmed by requests and obligations.Maybe one answer to make the season more manageable is to become more conscious about your giving by creating a “giving portfolio.”
via Rick Kahler: Ease Holiday Stress With a Giving Portfolio | Financial Awakenings.
Rick has a great way of explaining diversification by likening it to dancing. I think you’ll enjoy this article – and get a few chuckles.
It’s been years since I took dance lessons, but as I remember it, an evening of dancing has an overall rhythm that’s separate from each individual song. A good band will vary the tempo of the dance by playing a variety of music. Too many slow songs, and dancers get bored doing one foxtrot or two-step after another.
Too many polkas or fast jitterbugs, and half the crowd might end up a bit too literally “on the floor.”A dance band might play mostly country-western music, have a big band sound, or focus on oldies rock and roll. But no matter what type of music it plays, in order to be successful it needs to have a diversified repertoire.And no band would be invited back if it played nothing but novelty dances like the hokey pokey or the chicken dance. These might be fun for a few minutes, but nobody—except possibly a three-year-old on a sugar high—wants to do …..
Read the complete article here:
via Rick Kahler: Diversify Investments To Enjoy Dance | Financial Awakenings.