First … and Last!
Wednesday, September 27th, 2006
Why do you have to get insurance, when you buy a car? It isn’t that you expect to have trouble; but in case you do, having insurance helps mitigate the damage!
The same holds true for life and career. You hope that you’ll never have a mis-step, or a bad patch; but if you’re prepared, even a bad patch isn’t too bad. What you need to do, is pay attention to two very simple statements :
1) Make money first - or, in other words, don’t count chickens ….
2) Make money last - as long as it can.
So let’s take a look at the first step. It’s tempting, with the first paycheck in and a bunch of new credit cards, to indulge in all the little pleasures you’d been deferring. A new Ipod, a laptop, clothes, the fitness centre membership, a bunch of books, or whatever else. But chances are, you’re stepping onto what economists call the hedonic treadmill. Very simply, once you’ve got something, you take it for granted - and look for the next.
Moneycentral has an article that explores this in greater detail. Check it out.
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