SYL.Astrology
Added: 01/16/2007 |
Would You Trust Your Financial Day To An Astrologer?Believe it or not, people consult Astrologers in order to assist them in determining good and bad financial prospects in the world of investing. These people believe that astrologers hold the answers to when and what to invest in and they make their money decisions accordingly. Their financial day begins by reading their daily financial horoscope, if you will, given to them by the astrologers. With a cup of coffee in hand, they begin to read what their financial futures will hold.
Steve Jobs, President and CEO of Apple Computer Company probably starts his financial day by clicking on CNN News. I imagine these investors waking up with the stock market reports buzzing in their ears and ticking across their screens, the investors that rely on their financial day being watched, analyzed and forecasted by astrologers in an effort to accurately predict the next move in the market.
Taking charge of your own financial future isn't' much different than what the top executives of major corporations do every day. The one difference is that instead of relying on an Astrologer to make your financial day predictions, it is YOU who must watch, research and analyze your own current conditions of the household finances. Your financial day must begin when you wake and end when you go to sleep.
For those of us with online banking - BEWARE! Consider this online banking nothing more than a "snapshot" or a balance sheet, as it is known in the financial world of accounting, of your current financial position. THIS CAN CHANGE IN AN INSTANT. The balance sheet is a statement, if you will, of a person's liabilities and assets (debits and credits) at a specific point in time. It is only good for that period of time. For example, your financial day may begin with a balance of $1900.05 in your checking account. However, you know that during that day, there is the possibility of two checks hitting that are outstanding. For example, one check that you wrote for $20.50 to your child's school for a fundraiser and another one are outstanding for $425 which pays your car payment. By the end of your financial day, your checking account balance could be shaken down to $1719.83 even without the car payment hitting. How does this happen? It's all about keeping track of the money you spend. This may seem like an elementary concept, but those who do not grasp the fact that online banking is good for paying bills electronically and looking at what the bank sees AT THAT VERY MOMENT ONLY can go in the hole and suffer multiple Non Sufficient Funds fees resulting in the loss of your hard earned money in the hundreds of dollars! (By the way, there are court cases documented where individuals have prevailed over the financial institutions because of the "musical chairs" played with your electronic transactions by the banks. In these documents cases, the financial institution was found guilty of actually holding some and pushing others ahead in order to put the consumer in the hole so the financial institution can make money by collecting unfounded NSF fees from your account. While questioning this, a friend of mine, off the record, who is a bank employee shared with me that situation happening in his bank. When I asked him what he did his response was "...management reminds us that we are a money making institution...")
Back to the subject of managing your financial day! Take steps to find out how much you should be saving to achieve your long term financial goals. Include things such as life insurance, college education, and retirement. Though no one can predict what may happen in your financial future, it is always possible to plan!
Article comments:
No comments for this article yet. Post your comment now!
