Use the tax rebate to increase your financial literacy
While Congress quibbles over the details of the economic stimulus plan, many Americans are already thinking about what they’re going to do with the tax rebate money when it arrives.
A recent Baltimore Sun article by Eileen Ambrose had some good suggestions, including paying off credit card debt, setting up an emergency fund, saving for college or retirement—anything that will improve your overall financial condition, she writes.
The article quoted Christopher Brown, a financial planner in Rockville, Maryland, as saying, “If I could wave a magic wand, people would spend it on job training.” That, said Brown, could lead to higher-paying jobs which would be better for both workers and the economy.
Here’s an even better idea: Use the tax rebate money to invest in training that will improve your own financial literacy. Get education that will teach you how to make money work for you rather than you working for money. What a great way to spend the money that is supposed to help stimulate the economy!
Comments
That is exactly what my wife and I did. Newly married and willing to learn together. We made the choice to invest in our financial education. The chihuahua in me, -thanks sale dogs-, wanted it all. We bought Cash flow 101, 102, we bought the audio books: The Rich Dad Classics, Retire Young Retire Rich, Guide to Becoming Rich, Rich Dad Secrets, Choose to be Rich, Teach to be Rich, Why We Want you Rich, Rich Kid Smart Kid, Who Took My Money, Before you quit your job, Real Estate Advantages, Prophecy, the Rich Dad Advisor books: Protecting #1 Asset, Own Your Own Corp., Sales Dog :) , Building a Team that Win, Real Estate Investing,. Yes that 21 audio books that we both have been listening to for the last 4 months. It a total of 84 straight hours of financial education. We have been playing Cash Flow 101 and getting out of the rat race regularly every weekend. Thanks to the economic stimulus check we are now going to take that money and start a network marketing business. Taking what we have learned and still learning.
Posted by: Nathan | June 1, 2008 07:27 PM
You rock, Nathan!
Kim Kiyosaki has said over and over that learning and investing together is one of the best things a couple can do to strengthen their relationship. She and Robert made a commitment to each other early in their relationship that when one learned something, the other would learn it, too. And their marriage is going strong after more than 20 years!
Best to you, Nathan. Keep us posted.
Posted by: Jackie | June 2, 2008 10:32 AM