As I have written about in Spend Less Than You Earn, one of the keys to getting rich is to take control of your spending. In The Automatic Millionaire, author David Bach explains how the Latte Factor may be holding you back from getting rich. The big idea behind the Latte Factor is that most people don’t really think about how they spend their money – and if they do, it is usually for expensive items rather than the small daily expenses (eg a Latte!).Small daily expenses can add up to a fortune. Don’t believe me? Consider the following illustration:
Archive | May, 2007
7 Life Changing Ideas
“There is nothing so powerful as an idea whose time has come.” – Victor Hugo
Each of the following 7 ideas has the power to initiate a paradigm shift, that is, a significant change from one view to another. Without further ado, here they are…
Wake Up Calls
Every so often an event occurs that drops-kicks us into consciousness and forces us to reflect on the way we are living our lives. These events may occur on the world stage – September 11, Hurricane Katrina, the Tsunami in Southeast Asia – or they may occur on a more personal level – health problems, the death of a loved one, trouble with the law.
It can be very hard, if not impossible, to look at wake up calls in a positive light. Many people died in the tragedies of September 11, Hurricane Katrina and the Southeast Asian Tsunami leaving behind thousands of distraught loved ones. Personal wake up calls, such as health problems and trouble with the law, typically cause us immense pain and difficulty.
Why You Should Move Away
Well, it has been a week since my last post – an interlude far longer than I normally plan. It has, however, been a big week for me. A week of big decisions that will affect the rest of my life. This past week I committed to moving overseas for a number of years. We leave in 6 weeks time. My fiancee, Kathryn, is from Vancouver and we are moving there so that she can be closer to her family after having lived in Australia for 3 years.
The following are some reasons why you might consider moving overseas:
50 Ways to Change Your Life
This article is based on the idea that one change – whether it be a new idea, decision or habit – can be enough to completely change your life. That’s because small changes, with time, can snowball into something much, much greater.
In this article I have drawn from both my own experience and the many personal development books I have read to give you 50 of the best ways to change your life.
Why You Should Spend Less Than You Earn
One of the most important principles to becoming wealthy is to spend less than you earn. This sounds easy enough, but in practice it can be hard to do. This article looks at the challenges to spending less than you earn and offers some tips to overcome these.
First I want to look at those who spend more than they earn. It stands to reason that if someone is spending more than what they earn they are either being given money or are borrowing it. In this age of worldwide economic growth and prosperity it has never been easier to borrow money. Temptation to borrow is everywhere, whether is be for a new TV, a new car or a new house. In Australia personal debt levels are at record highs. I also read that the US Federal Reserve calculated that more than 40% of US families spend more than they earn.
7 Keys to Reducing Stress in Your Life
Deadlines. Speaking in public. Buying Christmas presents. Peak hour traffic. An unsatisfying job. Financial problems. Relationship woes. These are just a few examples of things that cause stress in our lives.
Before I go any further, it should be pointed out that stress can be a positive. Often, as in the example of a student sitting an exam, it will increase our performance. Also stressful events – a wedding, a new baby, or a new house – can change our lives for the better. Despite these potential positives, stress can harm your health, emotional well-being, and relationships with others.
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