Sound Financial Advice
- History is full of wise men and women who admonished others to be cautious with their finances. One of the great founders of America, Benjamin Franklin, was a prolific proponent of frugal living. Franklin was full of wit and wisdom and he used both in quotes such as "Content makes poor men rich; discontent makes rich men poor" and "Spare and have is better than spend and crave."
- The Holy Bible is a book inspired by God and is full of sound financial advice. While many do not agree with the teachings of the Bible, few can argue with its sound advice. One of its most important lessons on money management is in Proverbs: "The rich rules over the poor, and the borrower is the slave of the lender." This verse simply notes that being in debt submits the debtor to the demands of the creditor.
- In this day of "get-rich-quick" schemes, it seems there are few people who listen to sound financial advice. The most basic tenant to follow is to live below one's means. While this sounds simple, it can often prove difficult. One way to live within one's means is to prepare a monthly budget to plan for expenses. By sticking to a budget, you can have a plan of action of making your money go as far as possible.
- Sound financial advice is a seemingly rare commodity today. However, there are personal finance experts that provide sound advice to help people succeed with their money. Experts such as Wayne W. Dyer, Robert Kiyosaki and Dave Ramsey are examples of where you can gain sound financial information.
- The importance of passing along sound financial advice to children cannot be too highly emphasized. By enlightening the next generation to the concepts of sound financial advice, parents give them a solid foundation on which to build a successful financial future. By simply teaching children the concept of saving money to purchase a large item, you can spare them the pain of dealing with the burden of a crushing credit card debt later in life.
