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Archive for October, 2006

Personal Financing Rule #1 – Choose The Right Spouse Scrooge

Friday, October 6th, 2006

The old cliche rings true still and always will. There are many ways to try and earn money, but there just as many ways to lose money. Those “tight wads” we see who are rolling in cash, yet never seem to spend any of it, are all around us – but they’re usually quiet.

These folks understand the savings game implicitly. Although most of us will never be that cheap, we can still learn alot from our family member or neighbor who is burdened with the tag “tight wad”.

I certainly don’t fall into the ranks of the frugal spender, but I’m hoping to be there someday. After all, I come from parents who had to be frugal, knew how to save, knew how to balance needs and wants – and now they are reaping the rewards in a very comfortable retirement. If you have ever read the book, The Millionaire Next Door, or perhaps The Wealthy Barber; those books come very close to describing my parents. The one thing those books and example don’t seem to address is who you marry or who your cohabitant is.

I believe that who you choose to live with, partner with, or share your bed and food with, will make the largest impact on your bank balance. We’ve all seen friends, family members, and foes alike, that collect fat paychecks every month, yet their line of credit is maxed out, their overdrafts are deep, and their credit card interest payments every month would give Old Man Scrooge a massive coronary. 

 *******be right back….gotta have breakfast******* (more…)