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Dr. Kalinda Rose Stevenson
Is Gambling A Good Way To Make Money Fast?
By Kalinda Rose Stevenson
Gambling To Make Money Fast
Gambling is a way to get money fast. The question is, does gambling really teach you what you need to know about how to make money?
See the complete post, Is Gambling A Good Way To Make Money Fast? , on No Money Limits
For Your No Money Limits Life,
Kalinda Rose Stevenson, Ph.D.
The fastest way to learn how to make money is to understand the difference between making money and other methods to get money. Find out the difference in the Best Books Award winner, No Money Limits For Real Estate Investors: Discover The Money-Making Secret In The Real Estate Game That Transforms Your Money Struggles Into Financial Abundance. It’s not just for real estate investors, but for anyone who wants to understand what money really is and how to make money.
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Money Making Blind Spot. Why Economists Couldn’t See The Financial Crisis Before It Happened.
Money Making Blind Spot. One of the most disturbing elements of the current financial crisis is that so few people saw it coming. This is especially true of people who spend their entire lives studying economics and financial markets.
This is why a statement, such as the one by the former Chairman of the Federal Reserve, Alan Greenspan, is such an astonishing admission. In testimony before the House Oversight Committee in October 2008, Greenspan admitted that that he was shocked at the economic crisis. He never saw it coming, Read more
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Money Making Secret: Napoleon Hill’s Dirty Little Trick In Think And Grow Rich
A money making secret is the primary topic of Think and Grow Rich, by Napoleon Hill.
Think And Grow Rich is probably the most influential self-help book of all time. Many extremely wealthy people claim that this book was the catalyst for their success.
In his book, Napoleon Hill claims that one secret about making money is what separates the successful from the struggling.
This is what he claims in the Preface of the book. The book reveals “the money-making secret that has created fortunes for hundreds of exceedingly wealthy men.”
But what does Hill do with this money-making secret? Does he reveal it directly? Read more
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When Creative Financing By Banks Gets Out Of Control
What is the basic cause of the financial crisis? It is the process called creative financing, because creative financing creates money. Creating money is different from mining for gold or drilling for oil. Mining and drilling seek to find something that already exists. But money cannot be discovered the way that gold or oil can be discovered. Money is an idea of value and is created in transactions. Read more
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Why Money Itself Is The Underlying Cause Of The Recession
Money itself is the underlying cause of the recession. Although you will hear many explanations for the economic meltdown, few explanations analyze the role of money itself in creating the problem. Instead, analysts blame a long list of usual suspects, including irresponsible consumers, greedy bankers, and corrupt government officials. However much truth there is in these explanations, the ultimate cause of our economic crises originates from the nature of money itself. Read more
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When Banks Go Broke
The heart of the economic crisis right now is that the banks are unwilling to make loans. Even though governments are pouring money into the banking system, the banks are hanging onto the money. Read more
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The Credit Crisis Of 2008: Fear and Panic When The Banks Stop Lending Money
The world is in economic crisis. So far, nothing has stopped the crisis from spreading. It started with subprime mortgages, and has grown into a hydra-headed monster that is creating fear around the world as banks cut off credit. Read more
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Is The Monopoly Game Teaching You To Go Broke?
Monopoly is a zero sum game based on competition, based on a limited money supply. Since the money supply cannot increase, the players can win only by taking money from other players. Read more
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Taking Time Out Of The Money Equation
One essential step toward creating wealth and living an abundant life is to take time out of the money equation and create No Money Limits.
You have heard it many times. “Time is money.” Read more
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Move Your Money Or Lose It
“For to all those who have, more will be given, and they will have an abundance, but from those who have nothing, even what they have will be taken away.” (Matthew 25:25)
Money Has To Flow To Grow
One of my college professors once made a remark that I didn’t understand. He said that very rich people had to work hard to keep their money in circulation. It was one of those passing comments that was a bit off the point of the topic of the class, and so he didn’t explain what he meant. At the time, I wondered why it was so important for the rich to keep their money in circulation. That was when I still thought currency was the same as money and long before I understood what the very rich have always known. Money has to flow in order to grow.
Money flow is much like the flow of breath. You need to breathe in and out. If the flow of air stops in either direction, you are in big trouble. If the flow stops long enough, you die.
It’s the same with money. Money is the oxygen of your life and it needs to flow in and out. When the flow stops in either direction, you will begin to have financial trouble.
You will certainly have financial trouble if you have no inflow of money. Lack of income is an obvious problem. You don’t need me to explain that you need some form of income in your life.
Stopping the Outward Flow Of Money
Although it might not be as obvious, you will also have financial trouble if you stop the outward flow of money.
Why is this a problem? Consider the classic case of hiding money under the mattress. The money under the mattress is no longer in circulation. A strange thing happens to money that is kept out of circulation. It loses value.
Consider someone who put a hundred dollars under the mattress in 1954. Fifty years later, the money hider still has currency with a face value of one hundred dollars-and a very old mattress. The actual worth of the hundred dollars is far less than it was in 1954 because of inflation. To give just one example, in 1954, you could mail a first class letter for three cents. In 2004, it costs thirty-seven cents to mail a first class letter. Just about everything costs many times more than it cost fifty years ago. Those hundred dollars will not buy as much as they did in 1954. By keeping the money out of circulation, the value of the money shrank considerably.
And The Rich Get Richer
In the New Testament, Jesus tells a parable about a rich man who gave money to three of his servants. He distributed five coins to one servant, two coins to the second servant, and one coin to the third servant.
The parable says that the servant with five coins went out, invested his five coins, and had a hundred percent rate of return, giving him five more coins. The second servant took his two coins, invested them, and also had a one hundred percent rate of return, giving him two more coins. The third servant did the equivalent of hiding his coin under the mattress. He buried it in the ground.
The story says that after a long time, the master came back and demanded an accounting of the money. The first servant handed over the ten coins and the second servant handed over the four coins. The master congratulated both for being trustworthy.
When the third servant had to account for his one coin, he explained that he was afraid of the master and so hid his coin in the ground. Within the explanation, the servant also made clear he didn’t approve of the way the master created wealth.
The result of the story is that the master took the one coin away from the servant who hid the money and gave it to the servant with ten coins, with the statement, “For to all those who have, more will be given, and they will have an abundance, but from those who have nothing, even what they have will be taken away” (Matthew 25:25.)
This parable gets to the essence of why the rich get richer and the poor get poorer. The rich know that money has to circulate to grow. The poor think that the way to have money is to save it, which is another way of saying that they keep it out of circulation. By saving it, they end up losing it.
Safe Investments?
You might be saying, “I am not hiding my money under a mattress. I am putting my money into safe investments, such as money market funds and CDs.”
The reality is that such “safe” investments are not much better than hiding money under a mattress. In this era of low interest rates, the interest earned is not keeping up with the rising inflation rates. The longer you let your money sit out of circulation in a safe place, the more value your money loses.
The Power of Compound Interest
Compound interest is the eighth wonder of the world. (Attributed to Benjamin Franklin)
“Compound interest is the world’s greatest discovery.”
(Attributed to Albert Einstein)
“The most powerful force in the universe is compound interest.”
(Attributed to Albert Einstein)
The essential point is that money in circulation can increase in value through the power of compound interest.
The Money Secret of the Rich
The money secret of the rich is to “Move It or Lose It.” Do what the rich do, and keep your money in circulation by investing it at rates of return higher than the rate of inflation.
This article was originally published November 16, 2004.
See the original article at:
http://www.abundantlyalivenow.com/archive/AANN-2004-11-16.htm
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