The Ralph Family House of Ideas

Today I would like to add a little financial advice for my kids. This is not my original idea. It came from the book, Millionaire Women Next Door by Thomas J. Stanley. I would love for all of my children to read his books. They are great resources for staying "out of the water" and living a much better life. This quote is by a millionaire woman who made it big as a single person. "Success should not be measured by... how large the house, how expensive the care. ... I detest flaunted wealth. Success should be measured by what a person does in regard to business practices, ethics, environment, and human kindness.... Money should be the pleasant outcome of one's endeavors, not the main goal.... Be kind, be honest, stay focused and unafraid to go after your dream.... the main lesson in becoming financially successful is never spend more than you make and ... always save and invest."
Start now to save and invest. Live below your means - live frugally - and when the winds of financial ruin swirl you won't be caught up in them. Make saving money and living frugally a game - a sport- a competition. Which one of you can live on the least amount - live happily and content with the blessings you already have? Are you prepared for the downturns?
As a family here in Washington we are working toward getting out of debt as fast as we can. It would have been better if we never got into debt in the first place other than our home but we didn't know that back then. If we didn't have debt now all of our earnings could go into investments and we'd be making far more than the value of the assets that we are paying interest for now. It's a learning situation. Save now so that you can pay cash for investments that will increase your cash flow, then you won't be paying a mortgage company for the "privilege" of owning an investment property.