Many marketers work overtime to confuse us about money. They take advantage of our misunderstanding of the time value of money, of our aversion to reading the fine print, of our childish need for instant gratification and most of all, our conflicted emotional connection to money.
Confusing customers about money can be quite profitable if that's the sort of work you're willing to do.
A few things to keep in mind:
- The amount of money you have has nothing to do with whether or not you're a good person. Being good with money is a little like being good with cards. People who are good at playing cards aren't better or worse than anyone else, they're just better at playing crazy eights.
- Money spent on one thing is still the same as money spent on something else. A $500 needless fee on a million-dollar mortgage closing is just as much money as a $500 tip at McDonalds.
- If you borrow money to make money, you've done something magical. On the other hand, if you go into debt to pay your bills or buy something you want but don't need, you've done something stupid. Stupid and short-sighted and ultimately life-changing for the worse.
- To go along with #3: getting out of debt as fast as you possibly can is the smartest thing you can do with your money. If you need proof to confirm this, ask anyone with money to show you the math. Hint: credit card companies...
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