BEING SMART IS NOT UNCOOL
Taking a small portion of your monthly income and putting it away for a rainy day is a smart move. Some, however, take the view that this means you are cheap or have alligator arms (someone who never reaches for the bill).
Recently, I had this topic come up at work. It reminded me of a rather heated debate in class one day prompted by one of my fellow inmates. He argued that rich people never worried about money or how they spent it. Floyd “Money” Mayweather was his example – being able to walk into a club and throw money in the air.
We did not agree. I pointed out that folks become rich when their money is working for them. They threw it into investments that produced cash profits. That money worked for them every year going forward -- last year’s earnings paid for this year’s fun. Do it long enough and you will not have to work at all.
It is not cheap or uncool to have income from investments.
Roadside Scholar Tip: Graciously pay a bill for a friend or grab a dinner check, but do not throw money in the air.
For more information and easy to understand explanations of important money matters go to www.theroadsidescholar.com or purchase The Roadside Scholar: Amazing Money Lessons from Behind the Fence.