The secret to taking the guesswork out of your finances is to make the distinction between principles and actions. The principles of personal finance are quite simple: -- Set goals for your financial results. -- Pay yourself first -- Earn more than you spend (or spend less than you earn) -- Invest your savings to make your money work for you -- REPEAT -> REPEAT -> REPEAT! The principles are simple, the math involved is...more
The communication innovations we have around us today like the internet, financial newspapers, and special interest television channels focused on investing like CNBC are a high speed pipeline of nonsensical chatter. All these sources of information mean that there is no shortage of media people trying to answer our questions about the stock market and specific stocks. You have to remember that the news media are constantly competing to survive...more
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