Wednesday, October 18, 2006

Traits of Rupee Manager

To give you an idea of how a rupee manager controls what they have, note which statements apply to you;

The Poor Rupee Manager
  • Spends all their pay immediately.
  • Must have it now, no matter how it hurts or how much credit they use
  • Has no goals or plans other than to be rich and famous
  • Follows the crowd and their friends
  • Mixes with people who have similar money problems
  • Believes they don’t need advice
  • Has no interest in gaining financial knowledge
  • Spends on items which lose value, e.g. Cars, stereos etc.

The Good Rupee Manager

  • Saves a minimum of 10% out of each pay
  • Minimizes borrowing for items which depreciate in value
  • Has definite goals, e.g. 6-12 months, 5, 10 and 20 years
  • Has a plan that they actually implement
  • Mixes with people who are successful money manager
  • Knows that strategic spending is a must
  • Seeks professional advice and has a wealth coach
  • Is keen to learn new things and ideas about money mangement
  • Invests in items which gain in value by quality
Author: Greg Dempsey – Investor/Marketer
Title: Money Manager

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