Money: Servant or Master?


Money Servant or MasterMoney is a good servant but a bad master. ~English Proverb

If you’re lucky enough to have some money then it can serve you well.

If you’ve got your money working for you then it can make your life both pleasant and comfortable. With enough money you can have the lifestyle of your choice. So in that sense money is a very good servant.

However owing money is quite another matter.

If you owe money to other people then that debt can control your life in all sorts of unpleasant ways. Essentially debt enslaves you.

And that’s when money can become a very bad master.

Owing money can be stressful and it can really take its toll on your well-being

It’s true, you can’t always avoid debt. For instance few of us can afford to buy a home without a mortgage. That would be true for the purchase of a car too without a financing arrangement.

However you should never take on debt to fund discretionary spending. That’s unwise. If you can live without it then don’t buy it until you’ve got enough of your own money to pay for it.

Today’s mantra is simple. If you can avoid incurring debt, you should.

Well you should if you want to sleep soundly at night, that’s for sure.

Polite request:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins.

So please share now. If you do I will be ever so grateful and you’ll be helping a keen blogger reach a wider audience. Thank you.

Other articles you might also find interesting:

© Roy J Sutton and Mann Island Media Limited 2019. All Rights Reserved.

Why you should respect your money

Respect your moneyRiches have wings. ~English Proverb

If you live in the UK, then in the last couple of days you might have read about the lucky couple who scooped £115 Million on the EuroMillions lottery. If you’re like me then you probably thought, “Wow, how lucky they are.”

In theory they should never need to work again. Although really they’ve just swapped one set of problems for another.

Winning money is one thing; keeping hold of it is quite another. There are plenty of examples of people who’ve won large sums of money through lotteries, or other gambling, only to lose it all within a few years.

As the English proverb above suggests, money can disappear easily if you’re not careful with it.

You have to look after your money; you have to manage it carefully.

Money can be like a bird with wings; it can fly away if you are not careful.

Too many people spend their money far too freely on things they really don’t need and things they could live without. And plenty of professionals will be offering them help, only then to help themselves, if you know what I mean?

Today’s message is that you should respect your money and look after it. Otherwise you won’t have it very long.

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins.

So please share now. If you do, I will be ever so grateful. Thank you.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2019. All Rights Reserved.

The importance of saving for a rainy day

Saving for a rainy dayWhen I bought my boat, a Fairline Squadron 55, it cost me about £2,000 in fuel every time I filled it up. I don’t have it anymore. ~Gavin Henson

The former, Welsh rugby star Gavin Henson provided us all with a useful underlying message when he made this comment originally quoted in the British newspaper The Daily Express, albeit a few years ago now.

In making this comment he was talking about the most money he’d blown in one go. I used the word blown rather than spent to emphasise the questionable nature of this expenditure.

When you’re enjoying a little success in your career, and the financial dividend it brings, then it’s easy to think it will all last forever. So you start spending your money on expensive luxuries and enjoying the finer things in life.

That’s fair enough, to a degree, because there’s no point in being successful if you can’t enjoy some of the fruits of your success. That’s what it’s all about, surely?

The problem is that when the big money starts rolling in it can disappear just as quickly as you get it, if you’re not careful. Then, if you can’t sustain your success, before you know it you have nothing at all.

So if you’re lucky enough to earn big money then make sure that you put some of it away for a rainy day. It will rain one day, it always does.

Never underestimate the importance of saving for a rainy day. You need to make sure that you can weather the storm when it comes. It really is a good idea to be prepared.

Enjoy your success of course but never be foolish with money. It’s as important to life as the air we breathe. Make sure you can cope with a change of season.

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins. So please share now. If you do, I will be ever so grateful. Thank you.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

Lifestyle or people? Which is more important?

Lifestyle or peopleMoney, past a certain point, cannot buy you anything worth having. ~Giles Coren

I wrote a post recently about the importance of money versus life and I received some interesting feedback from readers. Some agreed with my underlying point that your life matters more than obsessing about money.

However others thought that their quality of life was in direct proportion to the money they’ve got. Essentially money equals lifestyle and so ultimately they thought it mattered more.

So I think it’s worth reflecting on this issue again.

Yes, having money is nice insofar as you can live in a nice house, drive a nice car, wear fine clothes and eat in the best restaurants. All of that is wonderful no doubt.

However money can’t buy you love and it can’t buy you the wag of a dog’s tail.

Money simply cannot buy genuine affection from others, whether that’s your partner, your children, your family, your friends or your pets.

If you could only have either the finest things money can buy or strong, well-balanced relationships with the people who matter most to you, which one would you really choose?

I don’t know about you but I think people matter most. If push comes to shove I can live with very little money but I couldn’t get by without my loved ones.

All of the most memorable times in my life have had other people at the core.

It is people who’ve made the difference to me. It’s people who’ve made me smile. It’s people who’ve been there for me when life’s been a challenge. We all need people more than we need things, surely?

Having money is very nice of course, but having people in my life has been much nicer.

Money is like oxygen, we can’t live without it. That’s true.

We must ensure that we’ve got some money, but we shouldn’t pursue money at the expense of our loved ones.

I would rather be poor than lose those people who matter most to me.

Then again, that’s just my point of view but what do you think?

Would you agree with me? Perhaps for you lifestyle matters more? Let us know via the comments below.

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins. So please share now. If you do, I will be ever so grateful. Thank you.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

How to make money from investing in stocks and shares

How to make money from investing in stocks and sharesOnly buy something that you’d be perfectly happy to hold if the market shut down for 10 years. ~Warren Buffett

Arguably, Warren Buffett is one of the greatest investors of all time. Certainly he has delivered an above average return to investors in his company Berkshire Hathaway consistently over many, many years.

And when people are successful we should listen to them. If their approach has been successful for them, it can be successful for us too. So it’s a good idea to listen and learn.

Warren Buffett’s investment philosophy is essentially quite simple.

If you’re buying stocks and shares then the ideal investment is a company with a range of good quality products which everyone needs; with strong cash-flow and little or no debt; broad international exposure; and which pays solid, sustainable dividends.

Buy the asset at fair value and you will have an income stream you can rely on regardless of any short or medium-term market volatility.

Choose the right stock and you should enjoy some capital appreciation over the long term as well.

Too many people are speculators rather than investors. They hope to time the market to gain a quick buck. However that’s hugely difficult and most amateurs will lose money with that approach, unless they are very, very lucky.

Whereas invest in good companies at fair value and over time you’ll have an excellent chance to make very good return.

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins. So please share now. If you do, I will be ever so grateful. Thank you.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

Which is most precious your money or your life?

Which is most precious your money or your lifeThere are no pockets in a shroud, so I love to spend and be generous when I can. ~Laura Tenison

In life there are two resources which require careful management. One is our time; the other is our money.

With respect to money, we must take care of it, protect it, manage it carefully and we shouldn’t waste it.

Ideally we should be building wealth and acquiring assets that will generate an income for us.

In that way we create a private income and then what we do with our life depends only on what we want to do with our life. And for me that’s important.

All that said, it’s important not to become obsessed with money.

The quote above from Laura Tenison reminds us that we cannot take our wealth with us when we die.

Clearly Ms Tenison likes to share her good fortune with others. She’s right I think but, as always, it’s about striking a balance.

In creating the maternity clothes retailer JoJo Maman Bebe, Laura Tenison is clearly a smart lady, so my guess is that she will always strike the right balance. So good luck to her.

If success is your goal then I hope the year ahead proves to be very successful for you Dear Reader. It can be, so keep going until you get to where you want to be. However make sure you get the balance right too.

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins. So please share now. If you do, I will be ever so grateful. Thank you.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

Tony Robbins: Top 10 Rules For Success

There are plenty of successful people in this world and you can be one of them too. However for many people the difficulty is knowing not only how to get started but also how to keep going when you face the inevitable setbacks along the way.

Well if success is your aim, then a good place to start is to listen to successful people. If they’re successful then clearly they know a thing or two. They’ve been there, read the  book and got the T-shirt. So if their approach worked for them, it might just work for you too. That’s why it’s a good idea to listen and learn from them.

Now Tony Robbins is not only a great coach, he’s also very successful by any measure. So here are his Top 10 Rules for Success.

If you really want success then this video is worth a few minutes of your time. Once again, listen and learn.

[youtube]https://www.youtube.com/watch?v=O9F19ban7A4[/youtube]

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins.

So please share now. If you do it will be truly appreciated.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

Creating a life plan: 17 ways the rich and poor think differently

Why is it that some people are wealthy and others not?

You might argue that the rich inherit money and therefore have just gotten lucky. That may be true in some cases, perhaps.

Having wealthy parents certainly helps no doubt but there are plenty of examples of self-made millionaires and billionaires. And there are plenty of examples of people who lost all their wealth and then just created another fortune.

There are also plenty of examples of poor people who’ve enjoyed good fortune on a lottery only to squander their millions within a few short years.

This would suggest that the rich and poor have a different philosophy with respect to creating a life plan and money as a resource.

The video embedded here explores 17 ways in which rich people and poor people think differently. The video is interesting and informative and well-worth a few minutes of your time.

[youtube]http://www.youtube.com/watch?v=2uzlXLzTDD8[/youtube]

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins. So please share now. If you do, I will be very grateful. Thank you.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

How to have a healthy relationship with money

How is your relationship with money? Would you say you’re in control of your money or does it all just slip through your fingers the moment you get paid? If it does, you’re not alone.

However unless you learn to manage your money properly you’ll always be poor and your life will always be controlled by ‘The Man’. That is a fact.

It doesn’t have to be like that though.

Develop a healthy relationship with money and you can build wealth over time. Pay yourself first and spend less than you earn and you’ll be surprised at how quickly you begin to accumulate wealth.

Paying yourself first means taking a percentage of your money the minute you’re paid and putting it away somewhere safe. The exact percentage depends of how much you earn and your living costs. However a minimum of 10% would be a very good start.

You can always eliminate expenditure if necessary. For instance you can probably live without those expensive coffees you buy on the way into work or that cable TV subscription that you don’t really need.

In the embedded video Noah Hammond shares his thoughts on how to have a healthy relationship with money.

Though relatively short this video is informative and definitely worth watching if you’d like to improve your financial position.

It is well worth a few minutes of your time and I recommend it to you.

[youtube]http://www.youtube.com/watch?v=SMSsi2nl_Zs[/youtube]

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins. So please share now. If you do, I will be very grateful. Thank you.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

Bill Gates Top 10 Rules For Success

By any measure Bill Gates is a successful man. In fact he is widely regarded as being one of the world’s wealthiest people on this planet.

Despite dropping out of Harvard to pursue his obsession with computers, he went on to become a businessman, investor, author, philanthropist, humanitarian, and of course the principal founder of Microsoft.

Along with the late Steve Jobs, Bill Gates was a leader in the computer revolution over the past 40 years or so.

There are not many entrepreneurs who would be better known around the world than Bill Gates and even fewer who would be as widely respected.

And having made his fortune he is now the second-most generous philanthropist in America, having given over $28 billion to charity.

All in all Bill Gates is a role model for anyone with a hunger for success. He’s been there and done it, so if he has something to say then we should listen.

Here are his Top 10 Rules for Success and I recommend you watch this video.

Rules for success:

[youtube]https://www.youtube.com/watch?v=wq-gba5nMrc[/youtube]

Please share with your friends:

If you found this article useful then please share it on social media with your friends. When you share, everyone wins.

So please share now. If you do it will be truly appreciated.

Other articles you might find interesting:

© Roy J Sutton and Mann Island Media Limited 2018. All Rights Reserved.

Show Buttons
Hide Buttons