Chapter 34 Forget work and money worries

If I knew how to solve people's financial troubles, I wouldn't be writing this book, and I'd be sitting in the White House -- next to the President.But I can offer a small contribution here: I can cite the opinions of various experts and authorities, and make some useful suggestions as to where you can get books and pamphlets to get you in the right direction. "Women's Home Monthly" conducted a survey, and the results showed that 70% of people's troubles are related to money.Gallup George, president of the Gallup Poll Association, said that from the research he has done, most people believe that if their income increased by 10%, they would have no financial difficulties.This is true in many instances, but surprisingly many more where it is not.In writing this section, I consulted budget expert Mrs. Elsie Stapleton.She has served as a financial consultant for Huagang Meck's department stores in New York and Bayer for many years. As a personal instructor, she helped those who were dragged down by money troubles out of the woods.She's helped people of all incomes, from a porter making less than $1,000 a year to a company manager making $100,000 a year.She put it to me this way: "For most people, earning a little more money isn't going to solve their financial troubles." In fact, I've often seen their income increase and it doesn't help them. It just increases expenses in vain and increases headaches.She also said: "What troubles most people is not that they don't have enough money, but that they don't know how to use the money they have!" Maybe you will disdain the latter sentence, well, if you express contempt Before, remember that Stapleton didn't say "all of them."She said, "Most people." She didn't mean you.She means your sisters and cousins, or someone else.

Some readers may say: "I hope this kid from the author will give it a try: take my weekly salary, pay my bills, and maintain my due expenses. As long as he tries it, I'm sure he will know my Difficulties, no more big talk.” Well said, I have had my financial difficulties too: I have worked 10-hour days in Missouri cornfields and barns, working hard until my back ached.The hard work I did at that time was not paid one dollar an hour, nor was it 50 cents, nor was it 10 cents.At that time I was paid 5 cents an hour and worked 10 hours a day. I know what it's like to live in a house with no bathroom and no running water for 20 years.I know what it's like to sleep in a -15C bedroom.I know that I would rather walk miles, just to save a dime, and the feeling of holes in the soles and patched pants.I've also tasted what it's like to order the cheapest possible meal in a restaurant, and what it's like to have my pants under the mattress because I can't afford to take them to the laundromat.

Even in that case, however, I still managed to save a few coppers from my income, because I would be uncomfortable if I didn't.As a result of this experience, I have come to understand that if you and I desire to avoid debt and avoid money worries, we must do what some companies do: we must develop a plan for spending money correctly, and then spend it according to that plan.Sadly, most of us don't.For example, my good friend Leon Simon King points out that people can be surprisingly blind when it comes to money matters.He told me about an accountant he knew who was very numbers-savvy when he was working for the company, but when it came time to deal with his personal finances -- let's use an analogy, if this guy got paid at noon on a Friday, he would When he went to the street and saw a coat in the shop window that fascinated him, he bought it without hesitation, never thinking about paying rent, electricity bills, and other expenses, which would sooner or later be drawn from the salary pocket Come out and pay.Yet this man knows that if the company he works for is run in the way he covets his present enjoyment, the company will go bankrupt.

One thing you have to consider is that you are running a business for yourself when it comes to your money.What you do with your money is really your "home" business, and no one else can help you. But what are the principles for managing our money?How do we budget and plan?There are 11 rules below. Mrs. Stapleton told me that imagine two families living next to each other, in the same house, in the same suburb, with the same number of people in the family, and with the same income—however, their budgetary needs would be very different.Why?Because of the difference in personality.She said that in order to make a correct budget, it must be drawn up according to the needs of each individual.

What is the budget?Not to take all the fun out of life.What it's really about is giving us material security - which in many cases equals spiritual security and freedom from worry.Mrs. Stapleton told me, "People who live on a budget are happier." How should you proceed?First of all, you must list all the expenses in a table, and then guide according to the requirements.You can write to the United States Department of Agriculture in Washington and ask for a booklet of this kind.In certain large cities—Milwaukee, Cleveland, Minneapolis, and others—major banks have expert advisors who will be happy to discuss your financial problems with you and help you plan a Come up with a budget that works for you.The best booklet I have ever seen on the subject is called Family Money Management, published by the Home Finance Company.Incidentally, this company publishes a whole series of booklets that discuss many of the basics of budgeting, such as rent, food, clothing, health, home decor, and other miscellaneous issues.

Decades ago, Arno Bennett came to London, aspiring to be a novelist. He was very poor and his life was under great pressure.So he keeps track of every penny he spends.Did he want to know how his money was spent?no.He knew it.He admired this method very much, kept this kind of record continuously, even after he became a world-famous author, a rich man, and owned a private yacht, he still had this habit. John D. Rockefeller also used this method and kept this kind of ledger.Before he prayed every night, he always found out where every penny was spent, and then he went to rest. We should do the same, we must get a notebook and start recording, recording for a lifetime?No, it doesn't need to be; budget experts advise us to keep accurate records of every penny we spend, at least for the first month—three months if possible.This just provides us with a correct record, so that we know where our money is spent, and then we can use this as a basis to make a budget.

The point here is to learn how to get the best value for your money.All large companies have dedicated buyers who just try to get the most reasonable things for the company.As the host and mistress of your personal estate, why don't you do the same? Mrs. Stapleton said to me, "My worst fear is being asked to create a budget for a $5,000-a-year family." I asked her why."Because $5,000 a year seems to be the goal for most American families," she said. It worked. They started sprawling. Buying a house in the suburbs—'just as much as renting.' Buying a car, a lot of new furniture, and a lot of new clothes. By the time they figured it out, they We've entered the deficit phase. They're actually less happy than they were before -- because they're spending the money they've added so quickly."

This is very normal, we all hope to obtain higher enjoyment of life.But in the long run, which way will bring us more happiness, forcing ourselves to live within the budget.Or have reminders filling your letterbox and creditors knocking on your door to pay you back? Borrowing from a bank can effectively alleviate personal financial stress, so how to improve the success rate of borrowing?First of all, we must improve our own quality and enhance our ability to repay loans; then we must look for effective guarantees. If there is a strong individual or organization guarantee, the bank will generally "green light" all the way; we must also establish a good reputation, because breaking trust with a bank is equal to breaking trust at ten banks.

In life, some accidents, misfortunes, and unforeseen emergencies, there are small insurance available for insurance.I'm not suggesting that you insure for everything from slipping in the tub to contracting German measles, but I do suggest that you need some major accident coverage for yourself.Otherwise, in case of an accident, it will not only cost money, but also cause trouble.And the cost of these insurances is not expensive. A simple example: I know a woman who spent 10 days in the hospital last year. After she was discharged, she received a bill—only $8.00.what happened?She has medical insurance.

If your purpose in taking out life insurance is to take care of your family after you die, I beg you, never let the insurance company pay your beneficiaries large sums of cash all at once. What will happen to the "new widow with lots of new money"?I leave that question to Mrs. Marion Aberle.She is Director of the Women's Group at the Life Insurance Institute in New York City.She speaks at women's clubs across the United States, pointing out the benefits of exempting widows from receiving life insurance benefits and receiving instead a lifetime income.She mentions a widow who received $20,000 in life insurance cash, all of which she lent to her son to start an auto parts business.Her career failed, and she is now destitute, without meals.She tells of another widow who was lured by a slick real estate agent into spending most of her life insurance money on vacant lots that were “guaranteed to double in value within a year.” Three years later, she sold the land, but only got back 1/10 of the original investment.She also mentioned that another widow had to apply to the Children's Welfare Association for a subsidy to support her children after 12 months of receiving a life insurance benefit of 15,000 US dollars.There are thousands of tragedies like this.

If you want to secure your wife and children after death, why not learn from J. P. Morgan?He is one of the greatest financial experts of our time.He distributed the estate to 16 beneficiaries, 12 of whom were women.Was he giving these women cash?No.What he left to them were securities, so that these women could get some regular income every month. If you're smart enough to budget your expenses and still find that you can't make up your expenses, you can do one of two things: You can curse, fret, worry, complain, or you can find a way to make a little extra money.What would you choose to do?To make money, simply look for things that people need most and are currently in short supply.Mrs. Nelly Speer of Jackson Hills, New York, did just that. In 1932, she lived alone in a three-room apartment, her husband had long since died, and her two sons were married.One day, she went to buy ice cream at the soda counter of a restaurant and found that the counter also sold fruit pies, but the fruit pies looked really unflattering.She asked the boss if he would buy some real homemade fruit pies from her, and the shopkeeper ordered 2 fruit pies from her.Mrs. Speer told me her story: "Although I am a good cook myself, when we lived in Georgia, we always had a maid, and I only baked cookies by myself probably a dozen times. The boss After ordering my 2 pies, I asked a neighbor for instructions on how to make them. Customers at that restaurant raved about my original 2 pies—1 apple, 1 lemon. The restaurant made a $5 reservation the next day, and other restaurants started ordering from me. Within two years, I had become a housewife who had to bake 5,000 pies a year. I was alone on my own I do all the work in my small kitchen, and my annual income is as high as $10,000, and I don’t spend a dime except for some cake-making materials.” Gradually, the demand for Mrs. Speer's homemade scones in the restaurant increased, and she had to move out of the kitchen to rent a shop and hired two girls to help.Fruit pies, cakes, wraps.During World War II, people lined up for over an hour to buy her baked goods.Mrs. Spier said: "I have never been so happy in my life. I work 12 to 14 hours a day in the store, but I never feel bored, because to me, that is not work at all. It is life. Strange experience. I just do what I can to make people happier, I'm too busy to be sad or lonely. My work fills the gap and emptiness I left after my mother and husband passed away." After Mrs. Spier finished speaking, I asked other housewives with good cooking skills to make money in the same way in their spare time in a small city with more than 10,000 people. She replied: "Yes, of course they are It can be done." I want to make it clear that instead of worrying about money, Nali Speer takes a positive approach.They start out in the kitchen on minimal means—no rent, no ad dollars, no salaries.Under such circumstances, it is almost impossible for a woman to be weighed down by financial troubles. Take a close look around you, and you'll find many industries that haven't reached saturation yet.For example, if you are a very good cook yourself, you might be able to start cooking classes and teach young people in your own kitchen, which is also a way to make money.Maybe there will be many students coming to ask for advice. There are many books that teach people how to make money in their spare time, you can go to the public library to borrow them.There are many job opportunities for both men and women.But I must offer a word of warning: unless you have a natural talent for selling, don't try to sell door-to-door.Most people hate the job and often end up failing. It always amazes me to see people trying to win money betting on horse races and playing slot machines.I know a man who owns multiple of these "one-handed bandit" machines and lives off them, and he has nothing but contempt for the fools who are so naive as to try to beat these machines that have been designed to scam them out of their money pity. One of the best horse racing bettors in America, I also know this guy.He was a student in my adult education class.He told me that, with all he knew about horse racing, he couldn't make money betting on it.However, in fact, there are still many willing fools who bet $6 billion on horse racing every year, which is exactly 6 times the total national debt of the United States in 1910.The racer also told me that if he wanted to destroy his enemy, he could do nothing better than by persuading him to bet on the races.I asked him what would happen if someone bet on inside information about the races, and he replied, "Betting on the races in this way could lose the entire Mint of the United States." If you're going to gamble, at least be smart.Let's first find out what our odds are.How to find it?You can read a book called "How to Calculate Your Odds" by Oswald Jacoby - bridge and poker authority, mathematician of the highest order, statistician, and statistical consultant to insurance companies.This 215-page book tells you what your odds are when you bet on horse racing, roulette, craps, slot machines, poker, bridge, stud, and the stock market.This book also tells you how many chances you have of winning in various other activities, all based on mathematics, which is very useful.It is not intended to teach you how to gamble.The author has no intention other than to tell you frankly the proportions of your failures at ordinary forms of gambling; On horse racing, cards, dice, slot machines. I read an article in Your Life magazine and was very impressed.Author Stella Weston Turt recounts how she taught her youngest daughter to be responsible about money.She got a special savings book from the bank and gave it to her 9-year-old daughter.Whenever the youngest daughter got her weekly allowance, she "deposited" it in that savings book, and the mother acted as the bank.Then, after that week, whenever she needed a dime or a penny, she "withdrawn" from the ledger, detailing the remaining balance.Not only did the little girl have a lot of fun doing it, but she also became much more responsible about how she handles money. If it is impossible for us to improve our economic situation, we may improve our mental attitude.Remember, other people have their own financial worries too.We may be upset that we are worse off financially than the Joneses; but the Joneses may be upset that they are not up to the Leeds; and the Leeds are upset that they are not up to the Vanderbys.The most famous figures in American history have their own financial troubles.Both Lincoln and Washington needed borrowing to get to the capital and become presidents. If we don't get what we want, it's better not to plague our lives with worry and regret.And let us forgive ourselves and learn to be open-minded.According to the ancient Greek philosopher Epicottita, the essence of philosophy is: "A person's happiness in life should be as little as possible dependent on external things." The Roman statesman and philosopher Seneca also said: " If you're always feeling dissatisfied, you'd be sad if you had the whole world." To reduce worry, the second principle is: Don't worry about work and money all the time.