Monday, 12 November 2012

spend or save

Hey ho,

I have often wondered how my consumption affects the health of the nation...

Many esteemed economists have written on this, but surely, it is how the individual decides to spend or manage their money that matters.

Personal economic activity is surely affected by:
Experiential activity, how did my parents, peers or guardians manage their wealth?
What were or are the lessons that I have learnt about personal money management?
Societal influence aspirational and current peer pressure, keeping up with others
Lifestyle choices
Political persuasion
And of course, income and assets available;

Thus, my philosophy is one of:
Do not spend what you cannot afford to pay back;
Always have a buffer of a nominal amount that will get you out of trouble if you fall on hard times;
Spend only when it is necessary i.e. when an item breaks down such as a washing machine or dryer;


The lessons that I learnt very early on were that it is not a good feeling when you have nothing and there is a sense of jealousy and yearning when you see what others have.

Thus I have embarked on a mission of discovery, what makes the economy and/or the money markets tick.

I am shocked/saddened by the behaviour of individuals in corporate and public life so who can we trust??

My sense is that you can trust only those that you know. So, if I wish to invest, I need to know the company and the people/product.

I have been at the top table in a private company and it is a little scary that such (stupid) individuals were handling £34 million pounds and eventually losing it all.

And so, I must seek out a method of earning money and adding to society, which satisfies both of my curiosities.

The search is on for a venture that suits me. I will try out a loose theory of the following:
What I like doing, what are my values, how will any venture benefit me and society, how will I leave my mark on this world.

Let's go.
Likes:
self worth;
Positivity;
Helping others;
Not stealing the limelight;
Recognition;
Practical applications;
simplification;
Return on investment;
Relaxation;
Nature;
Earth materials.
Family.

Simple list, easy choices (not)  TBC
So, spend or save. Save what you can for rainy days, spend what makes you happy but is not wasted money.

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