Enjoy your job?

Great question, you have to enjoy your job. You are so right, if someone does not enjoy their job, they will often look for any way to get out of that job, even if the switch means much less pay.

I've had friends that worked as prison guards, most of them loved their jobs but a few did not. Many prison guards work on a rotation to remove the prison feel, they work outside, then inside and then with the prison population. I think the different positions really help.

Almost any job can be disliked. I have a friend who was a dentist, then he got into an auto accident and could no longer perform his job. He was happy because he did not like being a dentist. While healing my friend went back to school to do another profession and now he is happy. The money or earnings from a job, do not complete the person, we have to really enjoy what we do to work in that job 10-40 years.

Good News About Truly Wealthy People

With all of the picking on the wealthy by the people in Washington DC it got me thinking.

I thought about all of the truly wealthy people I've known, including CEOs of two large companies, Judges, Doctors and other professions, and what they all had, at least what I have know of these folks, is a great interest in helping others. They help people do well at work, they volunteer and they help friends and family.

Then I reflected on the people that I've known that want to be wealthy, just to have the money. When I think of this second group I can only think of people that are selfish and only think of themselves. Kind of odd when you think about it the people that have it all often want to help others and the people that want it all only think of themselves.

Have you ever known someone in either of these two groups?

How do I teach my family about personal finances?

Great question. Some friends and family members like to push our buttons or pick on others as they do not have the same financial self control or plan. Focusing on making good educated saving and investing plans will serve you and family well in the long run. Family and friends will copy what you do to a point.

It would be great to be able to share what we have learned with friends but often this is difficult as many people are not ready to hear about things like retirement savings until it is too late. I focus on teaching my children about finances, it took a while for the two older ones to listen but now they do. My 17 yr old is really interest now that has been playing the stock game in his economic class.

How did you learn what you know about finances? It is not normally something we just pick up along the way, you need to be interested. I started reading Money when I was 12, I was a finance geek and liked it.

Poor Economy: Don't Give Up

Many of us have had some type of set back, it is how we come out of the experience that really matters. Some people just want what they had or more money than they had and I think you have to find a way to make yourself better because of the experience. The best plan is to never give up, if you did it before, made good money, then you can do it again. Make the best of the good and bad experiences and learn from the experience.

What did you learn from the difficult economy?

Learning to live without debt

Many of us in the US can learn to live with a little less. Not that having the good life is bad but if the last three years taught us anything it is that if everyone has too much debt we will run into problems. Over extended personal credit, over extended second mortgages and a general lack of control when comes to spending put us into a difficult position. As we come out of the poor economy we are all learning how important it is to use credit in moderation and maybe only when needed for things like homes, education and car loans. In 2012 cut up all of your credit cards to focus only buying what you can afford with cash, debit cards or check.

Did the poor economy change anything in your spending habits?

Zero interest credit card offers: What good is a 0% credit card?

Good question. A 0% credit card sounds like a really good idea but within 3-6 months the rate goes back up to 18-21% or more. Read the fine print and only take advantage of these 0% credit card offers if you can pay off the balance before the rate jumps up to the 18-21% or more range. Do not try to time the interest rate market by jumping from one low interest or no interest card to another, as at some point the offers will dry up or worse, your credit score may push you out of the low interest card game.

What You Learn In College

What good is a college degree if you do not have the knowledge? I have interviewed hundreds of colleges grads, right out of college for entry level positions. During the interview as part of the questions you normally figure out who was listening/learning in their classes.

I always like to say you learn two important things in college; 1) learn about the topics in your major area of study and 2) learn how to learn, this includes all the research, papers, assignments and the general education type classes.

Once you have a year or two of experience after college you learn so much more about your major area of study or it is highly possible you will not even work in your area of study at all. The part of your college education that you will use forever is the learn how to learn part. The research, papers and assignments help you with this as life changes and you learn new things, the rest of your life.