by Lazz Laszlo
Monday through Friday, Joe is a disciplined worker. He's on the job bright and early, hits it hard all day, and never in a hurry to dart out the door at quitting time.
Joe is young, energetic; college educated, and enjoys his job and has, for the past 9 years. His health and stamina are excellent
Family life was good growing up, but Joe lives alone now, in a swank apartment in the right part of town and commutes back and forth to work in the latest piece of European speed-machine technology.
Always dressed in the latest Label offerings, Joe has a piece of gold wrapped around his wrist that gives him the time with a glance and catches the eyes of the ladies.
Breakfast is always at a trendy hot spot, lunch is sometimes business related, but always top-notch, and dinner is a nightly affair at the city's best restaurants.
Joe has a great life and he spends his money so that everyone can see that he is doing well, but he's not. Joe is flat broke, in fact, he's past broke. Deep in debt and commitment, Joe is treading water in a lake full of alligators.
Why do people throw their money around? The answer is complicated.
The outcome is embarrassing when money is thrown around to give the illusion of having money. The higher you live, the more it costs to maintain the lifestyle and hold up the façade.
It's even more embarrassing to give up the kind of life that you're use to. If you buy your underwear at a specialty men's boutique, going to the local discount department store just doesn't feel right. More importantly, to you, you don't want anyone to know that you wear underwear from a department store.
Five dollar coffee is more fun to buy than a fifty-cent cup. Face it, its fun to spend money. It's a special feeling. It's a feeling that Joe has become addicted to and like a junkie, he's hooked with no intention of stopping.
Every day thousands and thousands of people are spending money to feel good about themselves. Some are quick to buy the latest and greatest item to hit the shelves or the showrooms, because they work hard and they tell themselves that they deserve it.
Wealth is built slowly, but it's very hard and takes discipline not to give-in to the bombardment of advertisements telling you why you should buy, rent, lease, consume, share, indulge, pack a bag, or experience what they have to offer. You work hard and you owe it to yourself.
Wanting to set yourself apart from the commoner, you bite and bite hard. Not just an apartment, a palace that has a monthly rental higher than the GDP of a piss-poor Asian country. Great suits are, well, great, but you need three dozen of them. Do you really?
All the accessories have a price tag, but they're in your must-have mental column of success.
Day after day, you throw your money away on stuff in order to show people that you have money. Joe isn't alone is he? Of course Joe isn't alone, he's fitting in. He's got the lifestyle to go along with the perception of how he should live.
Most people in the U.S.A. have less than one thousand dollars in the bank. Most people in the U.S.A. have more than one television, more than one vehicle, and more than a handful of credit cards.
The safety net used to be a savings account that you could fall back on, now it's a thin little piece of plastic with a name, number, magnetic strip, and computer chip.
Something happens, don't pay for it; put it on one of your credit accounts. Rationalize in your mind that you are helping the economy by spending, and you are. Two-thirds of the U.S. GDP is from consumers, like Joe and you, spending money for things that in many cases, you don't need.
Throwing money away on expensive food and drink is a sure way to go broke. You can eat well while dining out, but pass on the wine list from time to time, find new spots that have atmosphere, but not over-priced entrées.
Every item in your closet does not have to be dry cleaned, steam press a suit to keep it looking sharp and give it added life. Wear quality, but base your wardrobe around certain colors, not every color and every style. Choose your style and roll with it for a while.
I just read an article about one thousand dollar haircuts; you have got to be kidding. However, there are those who need to spend that kind of money in order to feel good about themselves.
As an Investment Executive, working in the Beverly Hills office of a firm, I had some interesting clients. Although I can't mention them by name, I will tell you that the flashy dresser would come in and then drop by my office to tell me he just put a thousand dollars in his account at the firm and that I should figure out how to direct it.
On the other hand, I had a large number of clients who drove floppy-fender Buicks, wore, nice, but not expensive clothing and they would come by the office to deposit six or seven figures.
The people, like Joe, are working so hard to let the world know that they have money, when in reality all that they have is a mountain of obligations and no clear path. The wealthy people know that it takes time to become wealthy and every five dollar coffee is one step further that you walk away from accumulating real wealth.
The steps are simple and often misunderstood. Who ever said that you should live within your means is an idiot. Live thirty or forty percent below your means.
If you say that you can't do that, it's because of one of two things; you are living way to high for your income or you are not making enough money at your employment.
You can get a better job, get more education so that you can get a better job, start a business on the side while you are working full-time at your current job, come up with a better plan for your current business, or keep doing what you are doing and wind up broke at the end of the trail of life.
Do you know how much money that you spend during the course of a week? Do you spend all you have, more than you have, or more than you would like to spend?
What do you spend your money on? Write it down, make a list, keep track for just 30 days and you'll see where the leaks are and the areas of improvement will be obvious. If you don't make a list of your expenditures, you will just keep on doing what you and Joe are doing.
Writing down your expenses is magical, it will embarrass you, delight you, and make you really think about how you can cut your expenses and still live well.
A ten dollar shoe shine or a one dollar can of polish and a rag capable of one hundred shoe shines? It's your choice.
I'm not telling you how to live, I'm suggesting that you take a serious look at how you are living and at your own pace, make adjustments.
Sometimes it just takes an idea to get you invigorated and excited about the future, rather than dreading another day.
Joe lives great during the week, he should have a lot of money socked away, but his lifestyle and his weekend partying has left him absolutely obligated to get up Monday through Friday and hit it hard. This is why he's a good worker, he can't afford to lose the goose.
People have asked me in my life; how I keep coming up with ideas. I have secrets about creative thinking and I finally put pen to paper and created an easy to understand eBook about creative thinking.
It's nothing complicated, but my methods show how to think creatively to solve problems, create products, and condition your view of the world around you; seeing what others can't.
When it comes to money you have to be creative. Imagine this scenario. You get paid and you have, in your mind, three hundred dollars to spend until the next pay day on anything that you want.
You get a raise and all of a sudden you have four hundred dollars of discretionary income to get you through the week and you spend it all, even though you're making more. Then it happens; your income drops back to the three hundred dollar weekly discretionary level. What do you do? Pull out the plastic to maintain the lifestyle that you have become accustomed to, but you'll only have the money to make the minimum payments on the debt.
Month after month, when the taste of the meal is long gone, when the usefulness of the electronics that you put on your plastic, because they were on sale, become obsolete, and the clothes are no longer stylish... the debt obligation remains.
Memorize these four letters; S.T.O.P.
1) Stop torching yourself with debt obligations.
2) Take a moment to think about whether or not you really need something before you scribble your name on a paper receipt.
3) Organize your finances so that you know where your money goes rather than watching it mysteriously go out the window.
4) Practice restraint, kill the impulse buyer within.
You can be in a real financial jam and turn it around in a hurry with some discipline, a plan, and a list of what is really important to you in life.
So, the next time you see someone spending heavy, throwing their money away to show that they have it; know that they don't have it.
Lazz Laszlo is a former Investment Executive and Radio & Television Financial Reporter with many entrepreneurial endeavors to his credit. He spends his time as an emcee, public speaker, enjoying life and writing articles and eBooks about business, creative thinking, travel, retirement, strategy, and pleasure. Lazz's website; http://www.925-wage-slave-alternatives.com
Monday through Friday, Joe is a disciplined worker. He's on the job bright and early, hits it hard all day, and never in a hurry to dart out the door at quitting time.
Joe is young, energetic; college educated, and enjoys his job and has, for the past 9 years. His health and stamina are excellent
Family life was good growing up, but Joe lives alone now, in a swank apartment in the right part of town and commutes back and forth to work in the latest piece of European speed-machine technology.
Always dressed in the latest Label offerings, Joe has a piece of gold wrapped around his wrist that gives him the time with a glance and catches the eyes of the ladies.
Breakfast is always at a trendy hot spot, lunch is sometimes business related, but always top-notch, and dinner is a nightly affair at the city's best restaurants.
Joe has a great life and he spends his money so that everyone can see that he is doing well, but he's not. Joe is flat broke, in fact, he's past broke. Deep in debt and commitment, Joe is treading water in a lake full of alligators.
Why do people throw their money around? The answer is complicated.
The outcome is embarrassing when money is thrown around to give the illusion of having money. The higher you live, the more it costs to maintain the lifestyle and hold up the façade.
It's even more embarrassing to give up the kind of life that you're use to. If you buy your underwear at a specialty men's boutique, going to the local discount department store just doesn't feel right. More importantly, to you, you don't want anyone to know that you wear underwear from a department store.
Five dollar coffee is more fun to buy than a fifty-cent cup. Face it, its fun to spend money. It's a special feeling. It's a feeling that Joe has become addicted to and like a junkie, he's hooked with no intention of stopping.
Every day thousands and thousands of people are spending money to feel good about themselves. Some are quick to buy the latest and greatest item to hit the shelves or the showrooms, because they work hard and they tell themselves that they deserve it.
Wealth is built slowly, but it's very hard and takes discipline not to give-in to the bombardment of advertisements telling you why you should buy, rent, lease, consume, share, indulge, pack a bag, or experience what they have to offer. You work hard and you owe it to yourself.
Wanting to set yourself apart from the commoner, you bite and bite hard. Not just an apartment, a palace that has a monthly rental higher than the GDP of a piss-poor Asian country. Great suits are, well, great, but you need three dozen of them. Do you really?
All the accessories have a price tag, but they're in your must-have mental column of success.
Day after day, you throw your money away on stuff in order to show people that you have money. Joe isn't alone is he? Of course Joe isn't alone, he's fitting in. He's got the lifestyle to go along with the perception of how he should live.
Most people in the U.S.A. have less than one thousand dollars in the bank. Most people in the U.S.A. have more than one television, more than one vehicle, and more than a handful of credit cards.
The safety net used to be a savings account that you could fall back on, now it's a thin little piece of plastic with a name, number, magnetic strip, and computer chip.
Something happens, don't pay for it; put it on one of your credit accounts. Rationalize in your mind that you are helping the economy by spending, and you are. Two-thirds of the U.S. GDP is from consumers, like Joe and you, spending money for things that in many cases, you don't need.
Throwing money away on expensive food and drink is a sure way to go broke. You can eat well while dining out, but pass on the wine list from time to time, find new spots that have atmosphere, but not over-priced entrées.
Every item in your closet does not have to be dry cleaned, steam press a suit to keep it looking sharp and give it added life. Wear quality, but base your wardrobe around certain colors, not every color and every style. Choose your style and roll with it for a while.
I just read an article about one thousand dollar haircuts; you have got to be kidding. However, there are those who need to spend that kind of money in order to feel good about themselves.
As an Investment Executive, working in the Beverly Hills office of a firm, I had some interesting clients. Although I can't mention them by name, I will tell you that the flashy dresser would come in and then drop by my office to tell me he just put a thousand dollars in his account at the firm and that I should figure out how to direct it.
On the other hand, I had a large number of clients who drove floppy-fender Buicks, wore, nice, but not expensive clothing and they would come by the office to deposit six or seven figures.
The people, like Joe, are working so hard to let the world know that they have money, when in reality all that they have is a mountain of obligations and no clear path. The wealthy people know that it takes time to become wealthy and every five dollar coffee is one step further that you walk away from accumulating real wealth.
The steps are simple and often misunderstood. Who ever said that you should live within your means is an idiot. Live thirty or forty percent below your means.
If you say that you can't do that, it's because of one of two things; you are living way to high for your income or you are not making enough money at your employment.
You can get a better job, get more education so that you can get a better job, start a business on the side while you are working full-time at your current job, come up with a better plan for your current business, or keep doing what you are doing and wind up broke at the end of the trail of life.
Do you know how much money that you spend during the course of a week? Do you spend all you have, more than you have, or more than you would like to spend?
What do you spend your money on? Write it down, make a list, keep track for just 30 days and you'll see where the leaks are and the areas of improvement will be obvious. If you don't make a list of your expenditures, you will just keep on doing what you and Joe are doing.
Writing down your expenses is magical, it will embarrass you, delight you, and make you really think about how you can cut your expenses and still live well.
A ten dollar shoe shine or a one dollar can of polish and a rag capable of one hundred shoe shines? It's your choice.
I'm not telling you how to live, I'm suggesting that you take a serious look at how you are living and at your own pace, make adjustments.
Sometimes it just takes an idea to get you invigorated and excited about the future, rather than dreading another day.
Joe lives great during the week, he should have a lot of money socked away, but his lifestyle and his weekend partying has left him absolutely obligated to get up Monday through Friday and hit it hard. This is why he's a good worker, he can't afford to lose the goose.
People have asked me in my life; how I keep coming up with ideas. I have secrets about creative thinking and I finally put pen to paper and created an easy to understand eBook about creative thinking.
It's nothing complicated, but my methods show how to think creatively to solve problems, create products, and condition your view of the world around you; seeing what others can't.
When it comes to money you have to be creative. Imagine this scenario. You get paid and you have, in your mind, three hundred dollars to spend until the next pay day on anything that you want.
You get a raise and all of a sudden you have four hundred dollars of discretionary income to get you through the week and you spend it all, even though you're making more. Then it happens; your income drops back to the three hundred dollar weekly discretionary level. What do you do? Pull out the plastic to maintain the lifestyle that you have become accustomed to, but you'll only have the money to make the minimum payments on the debt.
Month after month, when the taste of the meal is long gone, when the usefulness of the electronics that you put on your plastic, because they were on sale, become obsolete, and the clothes are no longer stylish... the debt obligation remains.
Memorize these four letters; S.T.O.P.
1) Stop torching yourself with debt obligations.
2) Take a moment to think about whether or not you really need something before you scribble your name on a paper receipt.
3) Organize your finances so that you know where your money goes rather than watching it mysteriously go out the window.
4) Practice restraint, kill the impulse buyer within.
You can be in a real financial jam and turn it around in a hurry with some discipline, a plan, and a list of what is really important to you in life.
So, the next time you see someone spending heavy, throwing their money away to show that they have it; know that they don't have it.
Lazz Laszlo is a former Investment Executive and Radio & Television Financial Reporter with many entrepreneurial endeavors to his credit. He spends his time as an emcee, public speaker, enjoying life and writing articles and eBooks about business, creative thinking, travel, retirement, strategy, and pleasure. Lazz's website; http://www.925-wage-slave-alternatives.com
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