Wednesday, August 5, 2009
The long short road
Another subject that I seem to never get enough of is that of responsible spending. Teaching the proper attitude towards money is one of the great gifts that a parent can give to his child. That attitude will play a critical role in what kind of a life our children will lead. In today's world where we are constantly inundated with messages that shamelessly promote materialism and consumerism, frugal living is an anomaly even though the current economic crisis might change that some. One of my favorite books on the subject is the Millionaire Next Door. It should be required reading for everyone because it explains in a very readable and systematic way what responsible attitude to money looks like by examining the common habits of millionaires. It fits very well with the Torah outlook on life. All worthwhile things in life require time, patience, discipline and effort. Often there are no quick fixes. There is a great website with a great name called Get Rich Slowly that has lots of great stuff on the subject of responsible financial living. Money is important. But it is even more important to have the proper perspective on money. I am sure I'll be writing about this again.