Wednesday, June 27, 2012

You need to read this book.

This is what I'm reading right now. I've wanted to read it for a long time but didn't want to cough up the $10 for the book. Ironic no?

A few random thoughts that this book has provoked...

Owing is not owning.
It's not how much you make... Its how much you spend. 
Man, This book makes me feel really poor... {Like as in money, not in spirit} These can't be real numbers can they?!
I feel really dumb for not starting to care about money and saving sooner.
Where was this book when I was 18? I wish I'd found it then. 
It also made me wonder where the balance was? Is there a point where you have enough in the bank that you can loosen up the reigns a bit? If so, what's that number? When you are to that point is it so ingrained into who you are that it becomes hard to spend money? 
How do you get to that point? How do you turn yourself from a spender into a saver? If I had the money is it okay to splurge on a few things? Do millionaires next door splurge on nice things ever? Or do they put every last penny into savings and sit on cardboard boxes and drive corollas? Okay, basically I'm wondering if I can still be a millionaire next door {Sometime down the road obviously not tomorrow} and buy a tiny bit of Pottery Barn for the new house ;) Like a vase or something:) Where's the balance? Can one of you millionaires next door please tell me the answer to that question?

A few random stories...
One of Mikes mission presidents was extremely wealthy. And yet, he always wore shoes from payless. He's one of Mike's role models for several reasons. Payless shoes and old man Toyota Avalon are two reasons that are on the list. {And several others that aren't related to this subject, That's another post}

We were in the grocery store the other day and Lala asked if she could have something out of the dollar bins. Before I could say anything Blake said "Lala that costs money. Do you have any dollars to pay for that? Mom doesn't have any dollars." Awesome, I'm sure everyone around us heard. And you know what, I don't care one lick. Now don't think that I am involving my kids in my finances, {not that they would understand all that at 5 years old anyways} But I do teach them that they can't buy everything they want. And I intend to teach them from a young age about being frugal. And no, My children are not deprived. Far from it. 

When did this stupid idea of "wealth" begin? The big houses, flashy cars, name brands, and all that crap? Most people that are actually wealthy don't have any of those things. That's why they are wealthy! Most people that really are wealthy don't even "look" like it. And most people that do "look" like it, really aren't, they've bought those things on credit, even if they didn't buy it on credit, and they can "afford" it, that money isn't in the bank anymore! So technically they aren't wealthy, They spend what they make! {If that doesn't make sense you need to read the book and read their definition of wealthy. It's really good}
Any how, the bottom line is, We get wealthy by saving. It can be done on the most modest of incomes. Just as going bankrupt can come even if you make a million dollars a year. It depends on us, and what we want. Do we want financial peace and security, Or do we want to buy the latest and greatest and the biggest and the nicest? I want peace and stability. Do my spending and saving habits reflect that? I don't know. I need to stew on those thoughts for a while and revisit the budget and the savings.

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