Comments on: The Law of Success — Lesson Four: The Habit of Saving http://anthillonline.com/the-law-of-success-lesson-four-the-habit-of-saving/ Business help for entrepreneurs, startups and small business owners in Australia | Business > Innovation > Technology > Entrepreneurship - Anthill Magazine: It's Where Ideas and Business Meet. Sat, 26 May 2012 06:30:00 +0000 hourly 1 http://wordpress.org/?v=3.1.1 By: Lesley-Ann Trow http://anthillonline.com/the-law-of-success-lesson-four-the-habit-of-saving/#comment-29997 Lesley-Ann Trow Wed, 10 Mar 2010 00:51:58 +0000 http://anthillonline.com/?p=32059#comment-29997 I think what Joshua is focusing on here is the 'mindset' of saving as opposed to handing out any actual wealth creation or business financial advice and in that regard I think he and Napoleon Hill are right on. Been enjoying this series :) I think what Joshua is focusing on here is the ‘mindset’ of saving as opposed to handing out any actual wealth creation or business financial advice and in that regard I think he and Napoleon Hill are right on. Been enjoying this series :)

]]> By: George The Podo http://anthillonline.com/the-law-of-success-lesson-four-the-habit-of-saving/#comment-29995 George The Podo Tue, 09 Mar 2010 22:52:26 +0000 http://anthillonline.com/?p=32059#comment-29995 Agreed Nobby. However there is some credence to the argument for an emergency fund where the individual cannot access equity secured against an asset. Is there not? I agree with you that if reducing debt is your priority then saving for savings sake is counter productive. Cheer, George The Podo Agreed Nobby.

However there is some credence to the argument for an emergency fund where the individual cannot access equity secured against an asset. Is there not?

I agree with you that if reducing debt is your priority then saving for savings sake is counter productive.

Cheer,
George The Podo

]]> By: Nobby http://anthillonline.com/the-law-of-success-lesson-four-the-habit-of-saving/#comment-29975 Nobby Tue, 09 Mar 2010 11:56:24 +0000 http://anthillonline.com/?p=32059#comment-29975 The effective elimination of debt does not include putting aside 10% into savings at a paltry interest rate. This is a false economy, and anyone relying on this strategy is being mislead. There is no value in saving a portion of your income while you maintain higher ineterst debt levels. To eliminate debt, pay off as much of the higher interest rate debt as you possibly can, as quickly as you can. Money Rules is committed to the elimination of debt in order to facilitate wealth creation. This information is not rocket science, and comes from a qualified financial planner of 20+ years standing. If banks and other lending institutions wanted you to get out of debt, they would also advocate the same information. But yo have to wonder why they don't! In the meantime, anyone, with or without debt should educate themselves about the true cost and value of money. The effective elimination of debt does not include putting aside 10% into savings at a paltry interest rate. This is a false economy, and anyone relying on this strategy is being mislead.
There is no value in saving a portion of your income while you maintain higher ineterst debt levels.
To eliminate debt, pay off as much of the higher interest rate debt as you possibly can, as quickly as you can.
Money Rules is committed to the elimination of debt in order to facilitate wealth creation.
This information is not rocket science, and comes from a qualified financial planner of 20+ years standing.
If banks and other lending institutions wanted you to get out of debt, they would also advocate the same information. But yo have to wonder why they don’t!
In the meantime, anyone, with or without debt should educate themselves about the true cost and value of money.

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