Wealth Today

The fifth lesson in The Wealthy Barber by David Chilton covers “Saving Savvy.” This chapter is mostly about common sense. It’s diverse and briefly covers some down-to-earth concepts that I’ll list here for a quick overview.

• For obvious reasons, avoiding credit cards is to our advantage. After monthly fees and the high interest rate, as well as buying things we wouldn’t have bought if we had no credit card, we tend to lose a lot of money through using them.
• Instead, pay yourself first and plan for the purchase.
• By investing a little time shopping around, you can save a lot of money.
• It may be helpful to try to establish a budget.
• You should also consider a ‘household financial summary’ to discover what kind of hidden expenses you may not be aware of that are holding you back.

While my step-dad hs been recovering from his heart transplant, my reading time has been shortened. He came off the respirorator yesterday and is now breathing on his own with the new heart. He’s still kind of groggy because of the morphine, but he’s coming through. It’s also been reduced as this is finals week. I still get to do a little browsing at work, so I’ll share what I have found today and continue with the Wealthy Barber series as soon as I can.

As I was browsing my del.icio.us inbox and I discovered an interesting site, Money : What is it, How does it work. While the site isn’t pretty, the author’s articles cover a broad range of topics related to money and they are very easy to read and VERY informative. The author has also compiled the articles into a book that’s available online. It’s not littered with ads which does make the site appealing.