Wednesday September 7, 2022
Issue 1002
Welcome to the Wealthy Wednesday newsletter where I give you weekly updates, downloads, inroads, and outtakes from the personal finance world and beyond.
Good Morning!
Last week we spoke about how our school system taught us quadratic functions and how to play the trombone, instead of the very relevant subject of personal finances. As a result many people walk the world confused or overwhelmed around money without any knowledge of how to manage, grow, or invest their money.
I am stating clearly and for the record that building wealth is not solely for the Rockefellers and the Musks, but anyone can do it. In fact, I teach that the steps you take to grow a garden are the same steps you take to grow your money.
For example, if you wanted to grow a garden, the first thing you would do is observe the current landscape: What is growing and what is dying? Is the soil healthy or is it full of rocks and weeds? Is the irrigation working, and are the timers set correctly?
So too in your finances you want to observe your current landscape: What do you own versus what do you owe? How much do you earn, and how much do you spend? Is your money flowing automatically and are your investments growing properly?
Observing your current landscape (without judgment) gives you a clear understanding of your finances, allowing you to make decisions from an informed and balanced place. It lets you see things as they really are, reducing stress and anxiety, enabling you to move forward in a confident and empowered manner.
It’s financial permaculture my friends, not rocket science.
Two key factors to note this week:
Oil prices have continued to decline, letting you fill up your Subaru for less than a week's salary. A drop in oil prices reduces transportation costs, which subsequently reduces the price of groceries, home goods and that new pair of Jimmy Choo’s you’ve been searching online.
Interest rates have continued to rise. This is the Federal Reserve's best weapon against the rabid inflation of the past year. An interest rate hike causes monthly loan payments to increase, thereby reducing the number of people who can afford the house, resulting in sellers reducing their grossly overpriced dwelling.
I hope you enjoyed this week’s newsletter. Please feel free to write back with any questions or comments. For more information, you can click here. Otherwise I will see you next Wednesday. To your continued abundance, Craig “cLove” Saloner
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