Life Is Not Fair... by Bill Bernard

Author:Bill Bernard
Language: eng
Format: epub
Publisher: Sourcebooks
Published: 2010-03-24T00:00:00+00:00

Week Ending

2/14

2/21

etc.

Beginning Balance

$40.00

$45.00

$25.00

Additions

Allowance

$10.00

$10.00

Yard Work

$15.00

$15.00

Birthday

$50.00

Depletions

Movies

$15.00

$10.00

Video Game

$45.00

Poster

$10.00

Skateboard Deck

$35.00

Ending Balance

$45.00

$25.00

HEALTHY, WEALTHY, AND WISE

The plan is all about spending and earning money over time. Both are equally important to manage, but I am not going to dwell on the spending side very much. How you spend your money has to do with your own personal goals and values. It's your money. Just pay attention to where it goes and check to see that this is where you really want to spend it. Are you using the hammer to put the nails where you want them? Know that for every dollar you spend, you will need to earn almost two dollars. So don't think about it as a $150 skateboard—think about it as having to earn $300 to get the skateboard. I'll explain this later in detail. Making a budget and paying attention to it is work, and it takes time and effort. You may think that you can keep it all in your head, but you would be surprised at how forgetful we can be. Do the work. Write it down. The most critical part of your budget is comparing your “projections” (what you thought was going to happen in the future) to “actual” (what really did happen). You were expecting $15 from yard work, but it rained and you didn't get it. This throws your budget off. Compare “actual” to “projected” at the end of each period and make changes going forward. Concentrate more on the earning side of the equation because it is the hardest to control.

So back to money in general. Money represents “energy” over a period of time, as if that money is frozen energy! This is the Value of Energy concept. The “energy value” for a day laborer is about $7 per hour. The energy value for a neurosurgeon is about $5,000 per hour. The energy value of a manufacturing plant might be $50,000 per hour. For a $100,000, you could “buy” two hours of the manufacturing plant's time, 20 hours of the neurosurgeon's time, or 14,268 hours of the day laborer's time (that's seven years, by the way, at forty hours per week). It's all interchangeable and, as you can see, changes dramatically. Because you only have a limited amount of time (your individual seven or eight inches), you need to pay attention to the specific value you get for your energy.

Money is the universal measurement for equating the value of one type of energy for another. This is about the value of your time and energy versus the value of the time and energy it takes to put a gallon of milk on a shelf in the grocery store. You can't control how much that milk costs; you can only control how much you make and how much time it will take you to make it.

High Noon

Awhile back everybody around where I lived kind of got into paintballing, I mean, like mostly the kids, but some parents too! You use paintball guns and go to these places where they make it like a war zone.

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