You Guys are Bookies!
Given the upheavals in the financial world, now is the time to shuffle the deck, trade stock, buy new mutual funds, sell old ones and do lots more stuff that will incur you plenty of financial service charges, or at least that is what the financial services industry wants you to do.Â
In the immortal words of Ray Valentine in one of my favourite Financial Movies, Trading Places, “… you guys are like bookies…”, when the evil Duke brothers explained how their commodities trading business works. The Financial Services industry is just like bookies. They don’t make money if you make money. They make money if you use their services and incur their fees.
Lent is Coming
Remember, Lent is coming, folks, and maybe it’s time to start thinking about what you are going to do spiritually in this area. Still, also, you can use it for a Financial Period of Penance, Enlightenment, Learning or Cost Cutting. Keep this in mind Ash Wednesday is coming, so keep that in mind.Â
- You could cut out using Credit Cards, and see how your spending changes
- Use cash only, like Gail Vaz-Oxlade does on her program and see what happens
- You could take a course on the Stock Market or read to learn more about why you are investing where you are.
- Give up buying lunch and coffee at work, and save the money (or donate it to a worthy cause)
Just some ideas.