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September 2, 2004
Rules Of Money
Interview
with Anna Lisa Montessi co-author of the book, Everybody
Wants Your Money
Mike
Carruthers:
There are a few very simple rules that can make your financial
life a lot easier. Rule number one never lend money to anyone.
Anna
Lisa Montessi:
And there are times when we all break that rule,
but it is so essential that you understand that you can loose
your friends and a relationship with someone if you do loan
your money.
Anna Lisa
Montessi author of the book Everybody
Wants Your Money…
You have
to have in your mind that that money is a gift. If by chance
that person does give it back to you again that's a gift.
And know
the difference between a good use of credit and a bad use of
credit.
It's
great to have a credit card for those emergencies, that unexpected
car breakdown or some kind of life emergency. That's a good
use of credit, but a bad use of credit is to just arbitrarily
use that credit card for food, for example. You've eaten that
food and you have nothing to show for it. And you're still paying
on it for a long period of time and that food is long gone.
And everyone
needs to learn how to save and invest money but Ana says that
millions of Americans claim they don't have any money left over
for saving and investing.
One of
the best things that you can do is take every piece of change
floating around in your house, your car, your pockets, your
wallets, and start a money jar. It's very easy and all of sudden
you can see the results. Now this money jar should be set aside
not for spending but for saving, this is your first emergency
savings.
At somethingyoushouldknow.net
I'm Mike Carruthers and that's Something You Should Know.
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