The Tomb Raider approach to personal finance
Can you believe it, by studying Lara Croft’s adventurous lifestyle - we can learn some valuable lessons about looking after our own personal finances.
Don’t believe me? Then you’d better read on!
Lara would make sure that the biggest threats are dealt with first. The first problem with personal finances, that many of us need to deal with, is debt.
Our main priority should be to get rid of high interest debts like credit cards, loans and yes, even mortgages. Once you have battled with these giants and won, you can start to invest safe in the knowledge that your investment will have higher returns than your debt interest.
In our lifetimes there are several fatal personal finance mistakes that we can make, that even a lithe Lara Croft would not be able to dodge!
We have a tendency to purchase debt by agreeing to pay for something over a few years so we can have it now - like cars. Cars lose value very quickly, yet we will still be paying the premium price for it over x amount of years. Other fatal personal finance mistakes people make is paying out for small expenses that add up like seeing all the latest movies, buying lunch everyday instead of packing it, buying luxury food items, a gym membership that has hardly been used, etc.
You have to be in control of your lifestyle and be disciplined with your finances.
If we are not careful, we run the risk of creating more bullets to dodge by creating more expensive lifestyle habits when we get a pay rise and we do things like buy an expensive new car instead of choosing to invest that money wisely.
Lara Croft would always make sure that she is safe before saving anyone else! So your mission is - get in a position where you can put 10% of your monthly income aside for future investments, to ensure your own personal financial security. Don’t let the Big Boys and Bullets keep you down! Lara wouldn’t!
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October 5th, 2007 at 8:00 pm
Someone contacted me regarding this article. Please contact me again since I did not get your email. I’d like to clarify something. Thanks
November 29th, 2007 at 10:11 am
There are various ways of controlling our finance. The only proble is that some people have got used to buy a lot of unnecessary things. We do it until we see that little money has left. We can’t manage finance properly. The best thing is to write down your expenses, sometimes it helps.