Nobody spends somebody else’s money as carefully as he spends his own. Nobody uses somebody else’s resources as carefully as he uses his own. So if you want efficiency and effectiveness, if you want knowledge to be properly utilized, you have to do it through the means of private property. Milton Friedman, 1912 – 2006
Do you count your savings when you spend your money -”Wow, look how much money I’m saving?” - or do you count the money you spent?
Do you count your winnings without deducting the amount you invested whether it’s poker, horseracing, or playing the lottery, or do you deduct what you have put in the pot before you announce your winnings?
Do you make investments because the tax savings look so attractive or because the return on your investment is attractive?
Are you familiar with the expression, “If it’s too good to be true, then most likely it is.”?
The HIRE Act recently passed by our federal government encourages employers to hire people who have been unemployed for the previous sixty days. By doing so, the employer saves 6.2% on the wage amount for the remainder of the year. There’s an additional tax credit if the employee stays with the employer for 52 weeks.
Would you hire an employee just because of this savings?
I doubt it. It’s nice to have. I’m not going to turn it down (although the government gives you the option to turn it down). I sure wouldn’t start looking for new employees who fit the profile just because there’s a slight discount for the remainder of the year.
The world is constantly telling us the time is now to buy and save. I think I’ll save my money until I’m ready to spend. If I can negotiate a deal – great. If there’s a sale at that time – great. But I’m not going to do something until I’m ready – at least that’s my goal.
Keep working. Keep thinking. Save – by not spending.
Cheers,
Bryan Dear