Saturday, 01 October 2011 01:01
The difference between playing chess and playing draughts is the difference between thinking four moves ahead, or playing what’s in front of you. Unfortunately, most of us tend to play draughts with our finances.
By this I mean that, when it comes to effectively managing our personal finances, most of us tend to default towards playing the next best move.
The best advice I can give anyone is to look ahead, and plan long term. This is important because planning ahead will give you more choices.
Thursday, 01 September 2011 14:52
How come we could have an international debt crisis, again?
We can’t help but feel nervous about the threat of a full bore recession as world economies – the United States, Italy, Greece, Ireland and Spain – lurch from one debt crisis to another.
The reason is that life appears to be good when we can have what we want today and pay for it tomorrow. What most people (and national governments chasing the popular vote) have ignored is that when you borrow more than you can repay, there’s going to come a day of reckoning, eventually!