John Hurd’s latest ‘e-Wealth Daily’ article is titled “How to Think About Your Money”. [‘e-Wealth Daily’ Article]


John Hurd’s latest ‘e-Wealth Daily’ article:

How to Think About Your Money

Money is something that you probably have on your mind…a lot.

Every day you may be thinking about how to get more money, how to save some money, where to spend your money and how to make your money last.

I remember when I was a kid with my first job, a paper route. The only thought I had about money was, “Where can I spend this money first?”

After I made my paper route collections, I’d rush over to the store near my home and buy a few chocolate bars, and get a few trading cards and maybe a few comics.

It never occurred to me that I didn’t have to spend all my money at once. Money left on the shelf in my room was a waste to me. It was just paper and coins and, if left out long enough, would probably end up in the hands of my younger brothers.

It wasn’t until later in life that I began to learn about saving money, how to earn interest and how not spending everything I had in one outing was actually better for me.

Now, you’re probably thinking that you’ve learned this same lesson long ago. That’s why I want to bring up another way of thinking about your money.

It’s hard not to notice just how much money we pay in taxes. Now, I don’t advocate trying to get around paying your taxes, but I do want to share with you an interesting way to think
about the money you make, in pre-tax dollars.

You see, the cash you get to spend is after-tax money. So, something that cost you $80 in after-tax dollars really cost you $100 or more depending on what level you’re taxed at.

When trying to control your spending, look at price tags as if they read in your personal pre-taxed dollars. By upping the price by a huge percentage, it becomes easier to see items you
simply shouldn’t be spending your hard-earned dollars on.

e-Wealth Daily

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* IMNewsWatch would like to thank e-Wealth Daily for granting permission to reprint this article.

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