Bulk buying always saves you money: It is true that unit price of bulk buys will always be cheaper. But the temptation of saving a huge amount with bulk buys usually lures one to purchase more than what is required. If you ultimately do not use what you purchase, then where is the saving?
Don’t-walk-run to read GMO’s James Montier Seven Immutable Laws of Investing:
1. Always insist on a margin of safety
2. This time is never different
3. Be patient and wait for the fat pitch
4. Be contrarian
5. Risk is the permanent loss of capital, never a number
6. Be leery of leverage
7. Never invest in something you don’t understandThe full post is found at GMO’s site.
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Always painful to hear at the start of your investment journey – because they sound pretty obvious, or worse yet (I’ve been guilty!) one or more “don’t apply to me!” Take heed, these are fundamental rules!
 TEDxMelbourne (@TEDxMelbourne)27/11/10 10:02 AM How to give your money away more effectively [@HarvardBiz]: http://bit.ly/hq8VPl |
The Financial Planning Association (FPA) has acknowledged that its program for raising the financial literacy of Australian students, DollarSmart, needs more industry support. [...] Rebecca Murray, FPA general manager of marketing and membership [...] acknowledged that not all schools have taken up the FPA’s offer for planners to teach financial literacy in the classrooms, despite it running since 2003.
- Dollarsmart Needs More Support, via http://www.moneymanagement.com.au/
What is Dollarsmart you ask? The FPA say ‘Dollarsmart is A financial toolkit for young Australians’ that examines six key aspects of financial literacy : planning, budgeting, saving & investing, credit & debt, insurance and finally study & work. This is an amazing free resource aimed at Australians available as a series of PDFs, a complete workbook in PDF or you can even order it on a CD.
One of the reasons my kids get their pocket money only every now and then is that there isn’t always enough money to go around. I have always maintained a very tight grip on my wallet, which is great – as far as it goes. Once more I refer to the great Ramit, here he is guest posting on the Man vs Debt blog :
to make 2010 the Year of Earning More. The past 7 months have been dedicated to helping people earn more money by earning more on the side, and the response so far has been massive. Hundreds of thousands of people read, commented, and Tweeted and otherwise chimed in on earning more. Everyone wants to make more money.
Great enthusiasm — but there’s just one thing wrong with this…
Most people who say they WANT to earn more… never will.
I have been as guilty of this as the next person. Take a look at this blog – it has been almost six months since my last post! This is a project to earn and learn (as my daughter would say – that’s a programme she is doing at school this term!) However I have managed to spend six months waffling about a new webhost, which plugins should I run and even questioning the very name of this project! All well and good points to consider for an hour or two, but this is silly.
My challenge to you, to all of us, is to get started on earning those extra dollars that mean our children can have regular pocket money! What are you going to try first?
An ‘expert’ in Chicago says teens as young as 16 years of age should be given the chance to charge (i.e. to have their own credit card.) Surely this is a joke? Sadly no, it is a story from Fox News in Chicago.
What the, Fox?
Our ultimate goal here is to discover an easy way to grown our very own Golden Goose, one that consistently lays golden eggs. By golden eggs, what I mean is a secure and steady income for us down the track by selling the eggs, not the Goose. [Att Technorati: 3A65KHWDYSSW ]
This is a noble cause, to be sure, and there’s no shortage of people out there with all manner of advice. There is advice on how to make money, invest like a pro, beat the market, hedge, trade and imitate others who’ve made it big. It can all get a bit confusing.
» Read more: Conflicting advice
“Have an Attitude of Gratitudeâ€
“The greatest of sins is ingratitudeâ€
“If you don’t feel gratitude, you’ll feel resentmentâ€
Our North American friends have just celebrated (or survived!) another Thanksgiving holiday. This is one tradition from that part of the world that we could all take to heart.
Why is this idea so important? Why talk about it here on the Golden Goose? (Aside from making the Goose nervous in case this is the year someone decides to switch from turkey!)
» Read more: Feeling resentful? The cure is to be thankful.
Last week’s papers carried a story that estimated Australian children are being paid one billion dollars in pocket money (allowance) each year – and they have to do very little to get it.
Kids clean up in a billion-dollar industry [SMH]: AUSTRALIAN parents are spending more than $1 billion on pocket money a year but children are expected to do far less around the house in return … experts say [chores] are important in developing life skills
This story illustrates the problems when parents don’t consider the philosophy of pocket money. Take the time to think and discuss your own philosophy to handing over the cash.
» Read more: A billion dollars in pocket money and no chores?
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