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Financial Freedom
The power
of the dollar
I'm
always reminded of the incredible black woman, Oseola
McCarty, who saved her money from a long life as a
washerwoman to establish a $150,000 scholarship fund at
the University of Southern Mississippi. It's not what
you make. It's what you save! In order to save, you have
to pay attention to each dollar you make. Greet it,
record it, aim it and track it. Create a relationship
with it and you and it will become long time friends. It
will be there for you when you need it.
Is
money a head job?
A few years back I was invited to join the Simplicity
Forum, an organization of "thought leaders" who
recognized the futility of working like crazy only to
end up dissatisfied, in debt and still wanting more. We
should note that the production and disposal of all this
needless stuff kills not only the environment, but the
spirit. What people do in the name of money and business
runs counter to family life and long term health. In the
Simplicity Forum, we brainstormed with others to find
ways to waste less, live well and enjoy life more. Many
members were already financially free. That is, they did
not work 9 to 5 jobs, but had invested their earnings
and reduced their cost of living to the point that they
no longer had to work. Some folks would say, "Oh, they
got it like that, huh?" Others would know that we all
can have it like that, if we give up the unimportant
stuff.
Here's how you
can do it
How did they do that? If you'd really like to
know how to free yourself from interest rates that are
designed to keep you paying, from mortgages that will
entrap you (I have been warning my clients for years)
and from scraping and bowing for each and every little
pay raise, all you have to do is stop spending. Easy to
say, hard to do. Your tooth breaks, your car dies,
you get laid off, your dog needs surgery. Start saving,
and cutting (expenses, not your dog) now, before you
have no room to juggle costs. Learn ways to cut costs
(see lowermybills.com), but not quality. Live in a small
town, not a big city. Purchase quality goods, on sale,
when needed. Buy whole, fresh organic foods, from the
farmer (see csa.org). Pick your own sometimes. Learn to
cook (see whfoods.org). It's easy. Learn to sew. It
takes patience but gives you power.
Start
here
Where should you start? Start by finding out exactly how
you spend your money. Lattes, bars, restaurants - you
can go there, but not nightly. The Entertainment coupons
give you 2 for 1 prices. Go with a friend or mate and
split the bill. Or order two items and save one for the
next day. Start your new way of living by reading and
completing the exercises in Vicki Robin's & Joe
Dominguez's book: "Your Money or Your Life". It's an eye
opener! You start by tallying all the money you have
ever made. That leads you immediately to notice that
most of it is gone. And that leads you to begin
recognizing that you're buying the same stuff over and
over again. I found that I had 13 pairs of black
slacks (only 3 of which I wore) and 7 black skirts (only
two of which I wore). Some even had the tags still on
them.
Keep
this in mind
Or maybe you heard the story of the man who left the
islands for New York. He worked as a janitor and taxi
driver to get through school. After years of scraping
and 60 hour work weeks he saved enough money to retire,
back to the island that he came from. There he ran into
an old friend on the beach. He said, "Oh, I've just
moved back here. I have a little house near the beach
and I get to spend the days with my wife. We take a
siesta in the afternoon and then come out and enjoy the
sunset and cookout. What have you been doing all these
years?" "Well", his old friend says, " Life has been
good to me. I have a little house near the beach and
every day I've been taking a siesta with my lovely wife.
In the evening we come out and enjoy the beautiful
sunsets and have a nice dinner." Hmmm........
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