2 Responses to Barrel of Monkeys or Barrel of Money?

  1. Ares says:

    Excellent, practical advice. I had tons of financial trouble as a young man, and then someone told me about ‘The Richest Man in Babylon’. After reading that book, I had a practical, step-by-step understanding of how to accumulate wealth. Like this article, it’s all about common sense and discipline.

  2. Jackie says:

    Several years ago, I accumulated debt on my credit cards that I struggled to pay off. When one of my coworkers found out, he was appalled that I paid my credit card balance first and my savings account (practically nonexistent) second. He was a firm believer in “pay yourself first”. It took about 2 minutes to explain why I was paying off debt that charged double digit interest before saving money at single (1% or so) digit rates. He was so sold on the slogan, he didn’t take the time to consider the details.

    Paying yourself first is a great concept to help people get in the habit of saving, but you have to look at the whole picture with some basic common sense.

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