Proper Allocation of Financial Effort
Random musings by Roger Arrick (c)2004
When dealing with finances, too many people focus on the amount
of money they make. Actually, there are several efforts that must be made in unison to insure
maximum financial success.
In addition to making money (which itself can be broken down into
various activities such as investments, job skills, hours worked, etc.) attention must also be
paid to spending money correctly. Without this, income production becomes a treadmill -
lots of work but going nowhere.
The last piece of this financial pie is often overlooked but equally important:
Losses due to fraud and scams. This is such a large problem
that people should ask themselves about each financial transaction in
these terms, as much they ponder income or spending. Most scams that
cause financial hardship are get-rich-quick schemes, but fraudulant donations,
investments, car repairs and unwise lending are also common culprits.
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