Tuesday, August 12, 2008
About this Blog
In real life, many people with low income are still able to live comfortably. They manage their money properly by spending within their means. They buy only when they can afford to pay with their income or savings. They buy only what they need.
On the other hand, some rich people are always in debt. They may be rich in assets but poor in cash. As a result, they have no choice but to buy on credit or get a bank loan and pay interest. When there is an economic downturn, these rich people have to sell their assets at a great loss. Some may even go bankrupt when they are unable to pay their debts.
So, the rich maybe poor and the poor rich. The secret lies with good management of your personal finances.
May also want to read:
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
Personal Finance Planning: Be a rich poor or a poor rich
In any society, there are people with low income and there are others who earn seven-figure salaries. It is natural for us to assume that those with little income will always be deprived of what they need and that those with large income will always get what they want.In real life, many people with low income are still able to live comfortably. They manage their money properly by spending within their means. They buy only when they can afford to pay with their income or savings. They buy only what they need.
On the other hand, some rich people are always in debt. They may be rich in assets but poor in cash. As a result, they have no choice but to buy on credit or get a bank loan and pay interest. When there is an economic downturn, these rich people have to sell their assets at a great loss. Some may even go bankrupt when they are unable to pay their debts.
So, the rich maybe poor and the poor rich. The secret lies with good management of your personal finances.
May also want to read:
Buy or Not Buy: How to decide amid mixed market signals
When to Buy, When Not to by
Property Price Index Graph Plotter & Online Property Valuation
Your Property Investment Determines Your Financial Success in Your Life
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Dear visitors:
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The blogger here has been affectionately named by close allies as "Smart Buyer" but really, he's not smart. Smart Buyer just believes that being prudent is smart. That's the essence of the message of this blog and Smart Buyer hopes it'll benefit other property buyers.
Smart Buyer :)