Thursday, April 17, 2014

Shannon Sundry- Wealth Advice that Should be Obvious

Wealth Advice that Should be Obvious is basically a list of advice that seems pretty obvious to follow but surprisingly people fail to follow this advice all the time. Some of these tips include don't gamble all your money away, don't spend money on things you don't absolutely need, save your money, don't go out to eat all the time, and stock up when things are on sale. My favorite point he made was don't spend money on things you don't need. I feel that people, including myself, do this all the time, making it very difficult for them to save their money. In order to decide if you really do need something he said to consider this- "Every material object must be looked upon as a lifelong burden. Will its benefits outweigh the lifelong burden? Consider carefully.". This is important when thinking to buy something because chances are if you ask yourself if buying this object will have a huge impact on your life, the answer will most likely be no. The advice that he gives in his blog is definitely doable and is a good way to save money. Although for most people it will take some practice to follow these rules correctly. I know for myself it would be hardest to follow the rule that says don't spend money on things you don't need because I love to go shopping and buy things that I am not in need of. I posted the picture of people gambling because most likely the people in that picture are spending tons of money that they don't have to begin with.


  1. It's all so simple yet we still fail at following the simple rules. I honestly see gambling as the biggest waste of money and time. It seems like people always leave casinos with less money than they came in with. But not spending money on things we don't need is definitely the hardest because we always want more.

  2. As consumers, we tend to spend money on things we don't need and the author points out that we shouldn't do it. He explains that we should spend it more wisely and efficiently. The picture you posted is a good example of how gambling is really unnecessary but people keep on doing it because mentally they think they can win but in reality the chances are really slim. Spending money is probably the easiest thing anyone can do but saving up money is not the ideal situation for people.