Manage Your Money

December 13, 2010

Times are tough and the holidays are hectic. But I would like you to take the time this busy holiday season to consider something that I think is essential to your well-being, financial and otherwise. Giving.

Giving doesn’t have to be limited to money. A wonderful gift can be just to give a little of your time and attention. Maybe it’s just driving an old neighbor to the store to go shopping, or helping a kid with a school project.

When you do, you’ll find an amazing thing happens. When you give, you get back all that you gave and more. Try it, and see for yourself. Many very wise people have learned this truth down through the ages and written about it. There are many popular books on this subject that you can read, or you can just try it for yourself and see the result.

Do, however, be cautious when donating to insure you really are making a difference. Don’t give money in response to a telephone solicitation. You are probably talking to a solicitation company employee and not someone who works for the charity. It is quite common for over 50% of your donation to go to the solicitation company as their fee.

Most importantly, don’t limit yourself to third parties. Help someone you know directly. Start with a couple of hours of your time or maybe just twenty bucks. See for yourself how great that feels and how you are rewarded many times over. Make it a regular occurrence and watch how the world gives back to you.

Whatever the option, put giving high on the holiday must-do list. Giving is better than receiving. Find out that wonderful truth this holiday season. You won’t regret it.

by Ted Hunter

December 9, 2010

These have been hard economic times and people are asking, “How did this happen and why weren’t we warned?”

We are all looking at our money differently and, perhaps, more carefully. But the myth that “I need an expert to help me understand and manage my money” still exists.

I wrote Money Smart to dispel that myth and show you how to manage your money yourself, because you can do it better than the experts.

For the most part, financial services experts are trained in and excel at sales, asset gathering, and commission generation—but not a lot else. From the mid-’80s to the end of the ’90s, they tended to attribute the success of their investment decisions to their own good judgment, not recognizing the larger forces at play on the market. Over the last forty years, as the new financial services industry expanded its superficial analysis of the stock market, its advice became accepted as genuine investment expertise when, in truth, it was anything but.

The vast majority of these experts truly believed that market growth just goes on forever. It doesn’t. But to keep you believing that it will, the experts in the financial services industry and the financial media have built a system founded on the following three myths:

Myth #1: “Money Management Is Very Complicated”
Myth #2: “Let Financial Experts Handle Your Finances Because They Do It Better Than You Can”
Myth #3: “Always Invest for the Long Term”

In my book, Money Smart: How to Spend, Save, Eliminate Debt, and Achieve Financial Freedom, I show you the truth behind these myths and offer ways you can avoid getting trapped by following the advice from the so-called financial experts.

The answer to the question, who should manage my money? You.

Give That Donation, Even When You Think You Can

Who Should Manage Your Money?