What Is The Secret To Saving Money

What Is The Secret To Saving Money, Saving money is not a matter of math.  You will not save money when you get that next raise.  You will not save money when that car is paid off.  You will not save money when the kids are grown.

You will only save money when it becomes an emotional priority. We all know we need to save, but most people don’t save like they know they need to save. Why? Because they have competing goals. The goal to save isn’t a high enough priority to delay that purchase of the pizza, DVD player, new computer, or china cabinet.

So we purchase, buy, consume all our dollars away or, worse yet, go into debt to buy these things. That debt means monthly payments that control our paychecks and make us say things like, “We just don’t make enough to save any money!” Wrong, wrong, wrong! We do make enough to save money; we just aren’t willing to quit spoiling ourselves with our little projects or pleasures to have enough left to save. It doesn’t matter what you make—you can save money. It just has to become a big enough priority to you.

If a doctor told you that your child was dying and could only be saved with a $15,000 operation that your insurance would not cover and could only be performed nine months from today, could you save $15,000? Yes! Of course you could! You would sell things, you would stop any spending that wasn’t required to survive, and you would take two extra jobs. For that short nine months, you would become a saving madman. You would give up virtually anything to accomplish that $15,000 goal. Saving would become a priority.

The secret to saving money is to make it a priority, and that is done only when you get some healthy anger or fear and then focus that emotion on your personal decisions. Harnessing that emotion will make you move yourself to the top of your creditor list. Then ask yourself Which bill is the most important? After tithing, who should I pay first this month? The answer is you! Until you pay God first, then yourself, then everyone and everything else, you will never save money.

The advertisers and marketing community are affecting our emotions every day and taking every dollar we have by making us see our wants as needs. It is time for this to stop! Emotions make great slaves, but they are lousy masters. No matter how educated or sophisticated we are, if we are not saving all we should be, we are being ruled by emotions, not harnessing them as financial planning slaves.

Dodd Frank Act Of 2010

Dodd Frank Act Of 2010, The Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub.L. 111-203, H.R. 4173) is a federal statute in the United States that was signed into law by President Barack Obama on July 21, 2010. The Act implements financial regulatory reform sponsored by the Democratically controlled 111th United States Congress and the Obama administration.

Passed as a response to the late-2000s recession, the Act brought the most significant changes to financial regulation in the United States since the regulatory reform that followed the Great Depression, representing a significant change in the American financial regulatory environment affecting all Federal financial regulatory agencies and almost every aspect of the nation’s financial services industry.

As with other major financial reforms, some legal and financial scholars on both sides of the political spectrum have criticized the law, arguing on the one hand that the reforms were insufficient to prevent another financial crisis or additional “bail outs” of financial institutions, and on the other hand that the reforms went too far and would unduly restrict the ability of banks and other financial institutions to make loans.

In addition to the headline regulatory changes covering capital investment by banks and insurance companies, the Act introduces new regulation of hedge funds and private equity funds, alters the definition of accredited investors, requires reporting by all public companies on CEO to median employee pay ratios and other compensation data, enforces equitable access to credit for consumers, and provides incentives to promote banking among low- and medium-income residents.