Smart Money Management Will Always Be a Win Win Situation
I think there are many people in this world that view personal finances as a separate force that can not be controlled. I talk to many people about finances and it seems that people talk about their finances like they wish they could poker tour pcomaha poker in lineapoker games gratispoker itgambling pokerpoker machine gratisgiochi di poker da scaricarescarica giochi pokerpoker holdem gratisregole gioco pokerstri pokergioco poker freewaretexas holdem no limitgioca poker on linevideo poker per pc gratisparty poker downloadgioco texas holdemgiocare poker gratisstrip poker game online,strip poker online gratis,strip poker onlinestreep poker on linegiochi 7 card stud gratistexas holdem romagiochi online poker gratispoker tournament softwarepoker virtualehollywood pokertornei di pokerpoker no onlinepoker tour italiapoker slot gratispoker texanogiochi roulette gratiscasino italiani con bonusaprire un casino onlineblack jack in lineai migliori casino onlineall slots casinodomande casino on net,casino on net,casino on net 2000download video poker gratis,giochi gratis video poker,video poker gratisgiocare baccaratslots machinescasino online in italiaroulette americanacasino con bonuscasino gratis senza depositogiochi keno gratis in lineacasino gioca gratis,giochi casino da scaricare gratis,casino gratiscasino italiani on linegiochi black jackcasino 10 euro gratis have control over it. Sometimes I hear people talk about their finances like they are gambling. “You win some, you loose some”.
In many cultures today we are being taught to not be wise with our finances all the while thinking we are being wise. The first thing we are told after we graduate from high school is that we need to ‘build our credit’. So we get that first credit card and then it’s all down hill from there. We are teaching our kids that the way to be smart financially is to go into debt as a right of passage into adulthood. If you think about it, telling a teenager that going into debt is a smart financial decision is the most absurd advice ever given. By sending young adults into the world with a credit card user mind, we are apart of a cycle of poor money management.
Debt is not something that should be sought after, it should be something we run from. Doing everything humanly possibly to stay out of debt while seeking the true keeper of our funds and supplier of our needs (God), at all steps of our financial journey is the best way to view debt.
A win win financial situation is a life of budgeting, spending less than we earn, saving, investing, giving and staying out of debt. We are not gamblers of our personal finances, we are handlers our personal finances. Be smart and learn smart money management.
Dave Ramsey offers the best financial advice. Check out Dave Ramsey website.
March 13, 2008 | Filed Under Dave Ramsey Financial Freedom, Financial Freedom Journey Pep Talk4 Responses to “Smart Money Management Will Always Be a Win Win Situation”
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You are right – spend less than we earn – simple, yet effective. I would never encourage anyone to spend MORE than they earn. What most people mean when they say ‘build up credit’ is to buy things that you CAN afford & would have bought anyway, but use your credit card instead – then pay it off before the end of the month. That way you are building yourself a decent credit rating which will mean you can get a mortgage at a reasonable rate. Something that most people will need to do at some point in their lives.
If that was the encouragement, how would you feel about it?
Hi Mona,
I believe that our kids should be taught more money matters at school. Unfortunately they have this instant gratification & need to have everything now. You see so many kids these days using a credit card & getting into debt earlier & earlier….. and that’s before they even take on a mortgage!
Kids and adults need to look at better ways to make their money work harder for them… To get a higher rate of interest. Quite often you need a ‘basic’ passbook account ..which gives practically no interest at all BUT you link this to an online savings account only accessible via internet or phone banking.
You then transfer the money into the online a/c to gain the higher interest and when you need to withdraw it you have to transfer to your basic a/c.
You’d be surprised how many are unaware of this idea of savings!
@ Getting myself out of debt – The “pay it off at the end of the month” mentality is what gets most people in trouble. Buying something with credit with the goal of paying it off at the end of the month means that you assume the money will be there at the end of the month. Since most people are living paycheck to paycheck, putting themselves in this position means they are spending more than they make. If you pay for things with money out of your pocket instead of money you hope to still be available later than you in a much safer position.
It is a myth that you have to have credit cards to help you build credit for a house . According to Dave Ramsey with a 20% down payment, buying a house in your real price range, 2 years or more on with your current job, and 2 years of paying your landlord early will qualify for a mortgage.
The main reason it is important to stay away from credit is because of what we are seeing in society now. More and more people living beyond their means because no one is giving them smart alternatives. More and more people these days are filling bankruptcy and loosing all they have and it all started with poor money management and the “gotta have credit”, “gotta have stuff mentality. I think the world would be a much better place if people would just learn the simple truth, “Buy what you need and want with money you have, not with money you wish or hope to had.”
Thanks for stopping by to offer your comments and opinions
@Gaida – Investing is an important part of building monetary wealth. The best investments are long term mutual funds, and paid for real estate. Investing should start after you have a 3-6 month emergency fund and paid off all of debt (except mortgage). Unless of course you job offers good investing options.
Thanks for stopping by and commenting Gaida
Money! Money! Money!It should be spent wisely to stay out of debt. Our family budget depends on the way we manage our finances. Going on a spending spree is the bitterest enemy.