Wednesday, April 30, 2008


Just wow.

W-O-W, wow.

I'm reading "The Automatic Millionaire". It's one of the ten or so books on finance and wealth that I picked up from the library yesterday. It's an easy read and so far I'm about 130 pages into it.

Why am I "wowing"?

Because David Bach makes one really strong point.

No matter how much money you are currently making, you ARE making enough to become rich.

We've all heard, "pay yourself first," right? David shows the reader exactly how this works and offers some extremely persuasive and motivational points. Another one is, "who are you working for?" Are you working for the credit card companies? No. What about your mortgage holder? Uh-uh. The electric company? Nopers.
You're working for yourself, right?

Are you really?

How much are you paying yourself?

David points out that most people aren't even working one hour a day for themselves. They go to work 40-60 hours a week and not one of those hours a week, let alone a day, is paying them. That's crazy!

For those of us in buckets of debt he recommends putting 1/2 what you would put towards "paying yourself" into accelerating your debt payoff but he does not recommend not paying yourself.

Something to think about, anyway...

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