read this article about how to get rich.

[mike c]

http://finance.yahoo.com/banking-budgeting/article/104385/Ten-Traits-That-Make-You-Filthy-Rich

haven't finished reading yet but the first two is right smack in opposition to us "avphiles"

1. Patience

Patience is one of the most important traits when it comes to saving money.

This means waiting until the first wave of product hype has passed, keeping a car [or av equipment] for an extra few years before getting another one and waiting until something you want fits into your budget instead of putting it on credit.

Patience is often the difference between creating savings and being in debt. Having the patience to wait until you find a good deal is a cornerstone of good finances.

2. Satisfaction

When you're satisfied, there is no reason to spend money on nonessentials. The sole purpose of commercials is to make you believe that buying a product or service will make you happier, wealthier, better looking or improve whatever isn't bringing you satisfaction.

People spend because they want to capture the excitement shown in advertisements. When you are satisfied with what you have and your life (not trying to live like those on TV), your finances will be in a lot better shape.

we have to have the latest and greatest NOW.

 

[Nomo]

I haven't read it yet but, just based on the first two points, I disagree that it goes against the beliefs of the general population here at AH.

 

[yettitheman]

we have to have the latest and greatest NOW.

Correction: We GET to have the latest and greatest NOW

 

[Rickster71]

Hey Mike, I think I'm following that method.
http://www.mbl-usa.com/
I got Paradigms instead of these MBL's

 

[highfihoney]

Part one i agree with,infact ive preached that same thing here many times,i never buy anything new & when i do buy something if its not the deal of the century i take a big pass.

Part two is only partially right,the trick is to put yourself in a position to take advantage of everybody elses fascination to have the latest & greatest,then exploit your position.

Ive made alot of money on hifi & Harley's over the years using that method.

 

[mike c]

I haven't read it yet but, just based on the first two points, I disagree that it goes against the beliefs of the general population here at AH.

was thinking those two points hit me right square in the chest

 

[MDS]

Pay yourself first, spend less than you make, and invest what you save. It's really that simple. I've said it a million times and I'll say it again - TIME is the most important variable in finance.

I'm the king of self deprivation and I have no problems waiting for what I want to be available for what I want to pay. If I make a big purchase, I wait months before I buy anything else (except for small couple hundred buck items) - not because I have to 'save up' but because I want to pay for everything out of income. Once the money goes into one of my various investment accounts, it doesn't come back out.