Going Shopping vs. Going Spending

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 178-June 27 “To pretend to satisfy one’s desire by possession is like using straw to put out a fire.”—Chinese Proverb A major “Money Malady” is “spending bulimia,” which is a habit pattern of buying things out of impulse, without regard to chosen spending priorities. For some, the buying habit is a quick fix to emotionally lift their spirits—it’s fun to buy a new outfit, a new golf club, or a new car and then have the satisfaction of the complimentary “oohs” and “ahhs” from other people. Some buy presents for others as a way of buying love, the emotional high is seeing someone else excited over a new … [Read more...]

Home Ownership

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 175-June 24 “The first payment is what made us think we were prosperous, and the other nineteen is what showed us we were broke.”—Will Rogers Owning your own home is one of the American Dreams. But it seems to me that many people scrimp and save to buy a home and then are “house poor”—they can’t go anywhere or do anything because all their available income is going to pay their mortgage! In Rich Dad, Poor Dad, Robert Kiyosaki states he doesn’t even consider a home an asset. He says it’s because there are so many other attendant expenses that go with home ownership that it is a drain on most people’s … [Read more...]

Rewarding Investments

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 174-June 23 “Inflation is the crabgrass in your savings.”—Robert Orben Anne Farrelly, a financial planner in Los Angeles and author of Invest Without Stress gave me some figures years ago regarding particular investments: If you had invested $10,000 on December 31, 1979 in the following companies, this is the amount of money you would have earned from that investment by December 31, 1989—just ten years later: Neutrogena $286,000 MCI $294,000 The Gap $355,000 Wal Mart $530,000 The Limited $615,000 Circuit City $810,000 This is very good money to be making while you’re sleeping. Ann went … [Read more...]

Market Research

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 173-June 22 “We jump off buildings and make our wings on the way down.”—Ray Bradbury It was 1990, and the recession was in full swing in California. I had survived in business one year after losing my biggest customer and most of my clients and friends knew about it. Now they were afraid as business prospects diminished, money got tighter and “lean and mean” became the business order of the day. I started getting a flood of calls that sounded like this: “Chellie, things are getting difficult. When you had your problems last year, what did you do? Somehow you survived a major downturn in your … [Read more...]

New Projects

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 172-June 21 “I never did a day’s work in my life. It was all fun.”—Thomas Edison When requested to fit a new project into my calendar, I ask myself these three questions: 1. Is it going to do a lot of good? 2. Is it going to be a lot of fun? 3. Is it going to make me a lot of money? This is the first test, and at least two out of three answers must be yes. Then I ask two more questions: 1. Is it going to take a lot of work? 2. Is it going to take a lot of time? Hopefully, the answers to these questions are no. If they are yes, I have a final question: 1. Is it worth doing … [Read more...]