There is a whole slew of financial advice in the world for anyone to take in. Anything from talk show radio hosts, financial advisors, parents, school and friends.
They all seem to have varying philosophies and specific advice on what you should and how you should do it. Usually the advice ends up conflicting each other, so it becomes difficult to decide what advice to follow.
This is why you should never follow someone’s financial advice or philosophy as if it was gospel.
What you need to do is follow the best financial advice for your personal situation, values, skills, goals, objectives and risk tolerance.
Seek out at all the information required to make an informed decision, do a proper cost benefit analysis in both a quantitative and qualitative perspective.
Then do WHAT YOU WANT TO DO based on your analysis
… not what other people want you to do.
It is important to be intellectually honest to yourself and not fabricate excuses so you can make bad financial decisions that will not make your life any better.
My goal for NOW Economics is to properly educate people and give them all the information they need and the analytical tools for them to make decisions for themselves for the rest of their lives.
What is the old saying?
“Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime”.
I encourage you to keep asking questions, continually learn and explore all the possibilities so that you can take control of your life. Everyday people are walking around like mindless sheep, not knowing that they are shooting themselves in the foot every month and making no progress.
I know that since you are reading this, you have a desire to better your financial situation and even your life. Continue on this journey to wealth and a life well lived.