Quote from: Psycopath on April 29, 2013, 07:37:47 PM
I'm living proof man. Don't ever get into debt, have kids, get married, or think of spending impulsively like a god damn slack jawed PHAGGOT. You HAVE TO, I MEAN , HAVE TO, always put aside money that you DO NOT TOUCH.
FUCK I-PODS, JIZZ PADS, SMART PHONES, AND THE REST OF IT.
Absolutely!!! I've seen people broke at $40K per month. It's not what you make, it's what you keep that counts.
Saving is soooo important. The average North American has no ideas what saving really is.
We've been conditioned to think that saving is "buying something at a discount".
As a result, North Americans have some of the lowest rates of savings.
With governments debasing our currency so quickly, the tendency is to get rid of it exchanging it for goods as fast as possible because we know it's going to buy less tomorrow than it does today, ...but there's a way to ensure that dollar will buy you as much in 5 years time as it does today. How? By
hedging your money.Robert Kiyosaki - Why Savers Are Losers
It's no longer smart to save money the traditional way... ie: in a bank account, because the meager pittance you get doesn't come close to matching the rate of inflation. The bank pays you 1%, but inflation puts up the prices of necessities by 12%+ or more. You're losing 10%+, just for the mere risk of having a bank account. Now with the precedent set by Cyprus, ...you've essentially given your money to banks to become an unsecured creditor to an institution riddled with moral hazard.
That's why I pay myself first. I take a portion of my income, and I save it in the oldest, most reliable form of money there is. Money that has a reliable 6,000 yr. old track record, and is accepted and convertible to cash anywhere on the planet. I do it regularly in small increments right off the top, and don't even feel it.
With as little as $20 a week, one can afford to set aside a little nest egg that will have an opposite effect to the debased currency we are currently forced to transact in. I hedge my money in gold in small, transaction friendly weights of privately issued gold bullion. No gov't issued or minted coins or bars for me. I want to own my money outright, and not have to give it up because some bank riddled with moral hazard has a bad roll of the dice, ...or some politician is spending like a drunken sailor in an effort to buy votes or keep the gov't ponzi scheme afloat a little longer.
It's staggering the lengths some people will go to in order to conceal the truth from your very eyes.
Even when you're all in the same boat, you need to make sure that everyone is rowing, and some aren't drilling holes.