Personal Finances 101 Textbook: None. Course will be based on online essays and materials. Instructor: Mba Mbulu
Class #9
Steps Toward Personal Financial Triumph
An Ounce of Prevention: Reducing Expenses
In this class, we are going to show how costworthy prevention is. As an intelligent and dollar conscious person, you should try to prevent as many unnecessary expenditures as possible.
Review is a constant in this course. Always check your notes from earlier classes. It will enable you to blend in everything more easily.
An ounce of prevention could do wonders for your budget.
Here is an example of what I mean.
Avoid medical bills as often as possible. Most minor aches
and pains will work themselves out over a short period of time.
Going to the doctor in such cases is a waste because what they
give you will probably not help you and what they charge you could
be put to better use. Additionally, the money you spend on drugs
and medications could be drastically reduced if you wait for a
while before pushing the panic button. In this day and time, when
the profit motive drives doctors and other medical professionals
just like it drives a profiteer, each person should learn to rely
less and less on doctors. You should become the health expert
when it comes to your health.
I am not saying never use doctors. What I am saying is
don't overuse them. Most accidents and sicknesses are not life
threatening or life altering. In many of those situations, you
can avoid doctor bills and still regain your health completely.
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Be careful about developing a dependency on products and
services that reduce the amount of exercise you get. A tv remote
is very convenient, but is it really to your benefit? I don't
think so. By enabling to remain in your couch for hours at a time,
a tv remote could be costing you hundreds of dollars a year in
needless health related expenses. The same can be said about developing
a dependency on a car. Do you really have to drive every where
you go? When it is practical, WALK or ride a bicycle. This
is good for your health (it reduces medical costs), it reduces
automobile expenses (gas costs, parking costs, wear and tear costs,
repair costs, etc.) and it encourages other members of your family
to do likewise.
There are many conveniences that people overuse or abuse.
Think about all of the things that make your life easier and analyze
your use of them. You will probably discover that you are using
them in a manner that strains you financially. If you are a worthwhile
manager of your dollars and cents, you will probably be able to
figure out how to alter your use of them so that you benefit financially
and otherwise.
Questions? Email aset@asetbooks.com and list your course title as the subject.