The story is so common. The lottery winner with Millions of dollars somehow makes itback to being broke within a few years. It actually happened to someone I went to highschoolwith. Why does this Lottery Curse affect so many people? It is because in the United States, wehave virtually no helpful information about how to make money, keep money or grow money.
People who save money are often looked at as boring, not exciting, frugal and possiblyeven cheap; I have been called all of those names, but growing your savings is truly one of thebest feelings in life!! If I were to bring you to my office, like Uncle G says, the first thing we wantto do is help you “get your money right!”It takes one step at a time, but the things people need to know:1. Just because you make money, does not mean you have to spend it all. Have you everheard the term my money “burns a hole in my pocket? I used to be that way. Every time I gotmy paycheck, I was living large and acting like there was no end to the income….I boughteverything I could until the money ran out and I had nothing for days and days and lived oncredit cards. When I started with World Financial Group over 10 years ago, someone finallyeducated me about how I should think differently about money and how to keep more of it.2.
Credit Cards are not your emergency fund. Well, some people use them as such. Whenyou run out of money, it’s time to not spend anymore until you get paid again. Living within mymeans is one of the best lessons my mother tried to teach me when I was young. I neverlistened and racked up $45,000 worth of credit card debt just before the economy crashed in2008/09. Thankfully, I was able to clear it all up in 3 years with correct coaching and definitelyearning more money. Keep your credit card in your wallet if you can avoid it.
3. Compound Interest: It will be your greatest ally if you use it correctly, but it will be your worstenemy if you abuse it by way of credit cards. At World Financial Group, we teach theentrepreneurs and average people how to make better more educated choices when it comes tocompound interest.4. Earn more money! Put in work where you are able to earn more. If that is not possible, takeon a side job or start a business that you will make money doing. We no longer live in an agewhere people only do one thing.
Most everyone has something they do on the side to makeadditional income. The fact of the matter is, in this day and age, if you don’t have some type of’side hustle,’ you may get left behind.5. Separate your money into buckets, envelopes, etc. Just keep them separate. I often doworkshops with kids through our Kid Entrepreneur program BOOM or in the classrooms atschool. I teach them how to separate their money into 5 buckets (charity/tithe, wealth,education, short term savings for a trip, shoes, clothes, music, etc and last is just Blow It onWhatever You Want! If you can separate your money into different places, you will be betterprepared for true emergencies and able to recover more quickly.
These are just some basics and baby steps to help people do a little better each day. I am sograteful to have been associated with people who have helped me improve my financialsituation and get on track for my dreams. It has been a wonderful way to learn and teach mykids how to have a healthy relationship with money.
Summarizing Case Study
Summarizing Case Study.
Read the paper of ‘Stress Management and Innovation Interventions at Work’ and summarize the paper (what was done by the author at each section) as the follow: 1. Title page, Acknowledgements, Table of contents 2. Executive Summary 3. Introduction 4. Literature review 5. Methodology Design (summary and answer this two question: 1.This study clearly does not exhibit the full range of features of a classical experimental design. Does this mean that the findings have to be regarded as flawed? 2. Pre-testing of participants clearly has the advantage that a before-and-after analysis can be conducted, but are there any potential disadvantages associated with such pre-testing of participants?) 6. Data Collection (summary and answer this question: What is the significance of the fact that participants were not assigned randomly to the two treatment groups?) 7. Analysis (summary and answer this question: Are the findings externally valid) 8. Discussions (Conclusions + Recommendations) 9. Appendices (if any) 10. References (same as the one used in the paper) Source: Bunce, D., and West, M. (1996), ‘Stress Management and Innovation Interventions at Work’, Human Relations, 49(2): 209–32.
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