Your Olympic Finances

  • Hello to all my Frugal Friends!
    With all the Olympic excitement a number of truths become evident. One of them is that these athletes spend huge amounts of time and effort to prepare for their events. Their dedication is inspiring (and exhausting!).


    And while none of us is likely to ever compete at that level, there is something that we can apply to our lives. The odds on success go up dramatically if we put in some effort. Perhaps not the single-minded focus of an Olympian, but still put in some reasonable effort.


    Take our finances. If we don't pay attention to our finances and just hope that everything works out ok we'll probably run into trouble at some point in our life. But if we make an effort to control and monitor our finances we're much more likely to have a smoother financial life.


    As someone who's managed people and money for 40+ years I can tell you that a budget is a most valuable document. Not to keep you from spending. But rather to tell you what's going on with your finances. It'll point out areas where you can save a little and some areas where you might not be spending enough. It's a great financial information tool. If you want to learn more visit the Budgeting Guidelines & Tips section of the TDS library.


    Another tool that can help measure your progress is to calculate your net worth once or twice a year. This article will show you how. If things are going well your net worth should increase every year. And the older you get the faster it should increase.


    Ok, off of my soapbox! Just a quick reminder to read next week's introduction for details on our first ebook. We've created something that I think will benefit and bless hundreds of our readers. Can't wait to unveil it!


    Keep on Stretching those Dollars!

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