I did a few articles a while ago, and I will be pointing to them along the way, but what the heck does Einstein and Finance have in common? Well let’s first look at one of my favorite quotes from old “wacky hair”:
Insanity: doing the same thing over and over again and expecting different results.
Now what, you may well ask, does this have to do with financial planning, retirement planning, debt reduction, or any other financial art that I comment on? Everything!
How many times do you keep doing the same thing every month and hope that somehow your financial future changes? Have you changed anything at all? Then why do you expect different results?
- Make the same payments on your mortgage and the interest rate does not change, it would be insane to think it would get paid off any faster.
- Continue to use your credit cards and only pay the minimum payment every month, it would be foolish to think you would ever be able to pay them off.
- If you continue to spend more than you make, how are you going to ever pay anything off?
Was He Talking About Money?
Einstein may not have been speaking specifically about finances with this statement, but it is very applicable folks, remember he is the father of Einstein Finance . Read about his rule of 72 and learn about how your money grows.