Something Interesting

I ran across this article by Alfred Edmond on Black Enterprise.com I found this to be very interesting.He was discussing how we Americans put our self's into what he calls" Poverty Traps". He says that we are killing our ability to created net worth. And basically we do this by living the expensive flashy life instead of the conscious net worth building life. Here is a piece from the article for more go to http://www.blackenterprise.com/cms/exclusivesopen.aspx?id=3522


My advice to her is my advice to you: Stop spending money to just look like you have money. Get a less expensive car. Stay away from the mall. Get on a budget. Cook at home and pack leftovers for lunch instead of dining out. Focus on paying your debts and saving money, not just looking rich. Don’t get so caught up in the lifestyle of the American Dream that you cannot afford to finance it.On your list of priorities, “Bling” should not be at the top of your list. Eliminating debt, building up your savings, and accumulating assets (including the equity in a home you own) should be your priority, even if it means driving a hoopty and wearing the same outfits you wore two years ago. Read the classic book, The Millionaire Next Door, and you’ll learn that truly wealthy people don’t focus their resources on maintaining appearances, they focus on accumulating assets. If you want to avoid a poverty trap, you’ll do the same.

The Bee is out!