Comments on: Think bums are poor? They’re actually richer than you!

By: Abigail

Abigail — Sun, 01 Jan 2012 21:35:48 +0000

Good or bad debt. It thinks it just good to not have any debt at all. I here Donald Trump say all the time college loans are good debt. I once heard Warren Buffet say he will never purchase a credit card so I am guessing this is bad debt. I just rather have no debt and live on my interest from investments !!!! one day i’ll get there

By: wobenzym

wobenzym — Fri, 12 Aug 2011 08:19:02 +0000

Yes i know bums are not poor even we ignore they are really rich then us.

By: Neil Patel

Neil Patel — Thu, 10 Jun 2010 01:55:49 +0000

What’s interesting is that a lot of people are in that same boat.. they seem to be rich, but the reality is… like you said, they’re into their eyeballs in debt.

By: sell textbooks

sell textbooks — Mon, 07 Jun 2010 13:09:13 +0000

Great post. How true it all is. Most people are so in debt and don’t even realize it is a problem. It reminds me of the commercial where the guy is talking about how great all his stuff is very sarcastically, and how he is up to his eyeballs in debt

By: Neil Patel

Neil Patel — Sun, 30 May 2010 19:00:18 +0000

Yes…. most of us all face similar problems and challenges… but it’s the skills we posses that separate us apart.

By: Inner Game

Inner Game — Sun, 30 May 2010 16:44:50 +0000

interesting, you can apply the same way of seeing debt to countries economies , its what you do with your debts and in investments you make for example with your loans, that will determine your future

By: Neil Patel

Neil Patel — Tue, 18 May 2010 03:35:35 +0000

I wouldn’t say you shouldn’t pay off your debts and let them linger.

By: Sagar Pandya

Sagar Pandya — Thu, 13 May 2010 05:02:45 +0000

I also have read in places that you shouldn’t pay debts off first; you should pay yourself first and see make sure you personal “balance sheet” is bigger then your “liabilities” sheet.

By: Neil Patel

Neil Patel — Thu, 18 Feb 2010 07:30:06 +0000

i don’t think he was admitted to mit…and i think he may have done it purposely.

By: 行花市

行花市 — Tue, 16 Feb 2010 07:25:47 +0000

didnt realise or purposely avoided paying them? this is the same will smith that was admitted to mit.

By: Neil Patel

Neil Patel — Sat, 12 Dec 2009 20:06:54 +0000

It does because allows you to take control over you ego which ultimately sets you up to grow even bigger and better.

By: forum

forum — Fri, 11 Dec 2009 15:13:03 +0000

Good tips Neil. It pays to live humbly even if you’re rich.

By: Neil Patel

Neil Patel — Fri, 11 Dec 2009 05:33:07 +0000

Find out about networking events that are going on in your area and then work yourselves into various groups to connect with people who are in good financial positions.

By: Brian P

Brian P — Fri, 11 Dec 2009 01:45:51 +0000

Ha yea i need some help…. Where can I find some rich friends in Charlotte, NC.. But I like the idea too!

By: used tires

used tires — Thu, 30 Jul 2009 17:17:14 +0000

@Buy PSP Go, It’s great that you’ve cut up the credit cards, and done away with the credit cards. Hopefully you really do keep that other credit card as a true emergency only CC. Anyways, I’ve always never been a big fan of credit cards, and I always advise people to stay away from them, hehe.

Till then,

Jean

By: used tires

used tires — Thu, 23 Jul 2009 06:11:03 +0000

I am currently a finance major at a University, which will remain nameless for privacy reasons, anyways, personally I’ve always felt that basic finance should be thought in High School. I bet there would be alot more richer people if everyone had been thought how to manage their money properly in high school. I think alot of people make mistakes with credit, that they would of otherwise likely not made if they had learned about how it all works in High School.

Till then,

Jean

By: Buy PSP Go

Buy PSP Go — Sun, 19 Jul 2009 15:40:16 +0000

One of the best things I ever did was cut up all but one of my credit cards and now have one credit and one debit card. The credit card is left at home (securely of course). This means that I only ever spend what I have but that in the event of an emergency I do have a credit card to help me out.

By: Neil Patel

Neil Patel — Wed, 10 Jun 2009 22:14:30 +0000

True. If you can make more money with debt, then take it.

By: eMoneyLog

eMoneyLog — Wed, 03 Jun 2009 22:40:36 +0000

Thats a funny picture…I wonder he gets anything with that…

Its all about cash flow…debt is leverage.

By: Neil Patel

Neil Patel — Sun, 31 May 2009 22:38:02 +0000

$2000 a week is a lot. That’s more than the average American makes.

By: Online Colleges

Online Colleges — Thu, 28 May 2009 15:12:07 +0000

In my hometown there was a bum who was asked how much money he made a week by the paper. His reply was 2,000$ then they took a picture of him with a sign that read, “why get a job when I can sling a sign for 2,000 a week.” Go figure!

By: Neil Patel

Neil Patel — Tue, 19 May 2009 23:21:26 +0000

I haven’t heard of that bum story. I’ll have to research it…

By: The Work At Home Blog

The Work At Home Blog — Mon, 18 May 2009 22:49:21 +0000

It’s exciting to hear millionaire stories from rags to riches. I never befriended a millionaire before. I can imagine learning the things they did to get where they are is priceless. Nice post! The truth is even a bum can make millions if desired to do it. Oh yeah, is the story true about a bum that collected over a million dollars worth of coins, but the government took it all? I hear this story from people have you heard of this? If that really happened that is so screwed up.

By: Neil Patel

Neil Patel — Tue, 24 Mar 2009 23:28:11 +0000

Sometimes unexpected things happen, such as losing your job. Even if you were spending below your means, you can have problems when you lose your job.

By: Accident Injury Claim

Accident Injury Claim — Tue, 24 Mar 2009 20:11:07 +0000

people go into debt through deficit spending. A deficit occurs when spending exceeds income at any given time. An accumulated deficit become a debt, and a debt is a financial obligation or liability to pay. To avoid deficit spending, spend below your means.

By: Neil Patel

Neil Patel — Mon, 23 Mar 2009 23:00:01 +0000

Yep, debt can kill you. It is hard to get out of debt.

By: Dieta

Dieta — Thu, 19 Mar 2009 08:28:01 +0000

Living of debt is a terrible thing. Imagine this scenario – you’ll limit your spendings for the next couple months but afterwards you’ll have no debt, you’ll be able to spend every penny you make instead of giving half of it to banks and credit card companies.

By: Neil Patel

Neil Patel — Fri, 13 Mar 2009 01:09:49 +0000

John is a much smarter guy than I am.

By: Underarm Sweating

Underarm Sweating — Mon, 09 Mar 2009 13:31:44 +0000

Yes but like John Chow says its difference between good and bad debt.. I would suggest you reading a book from R. Kiyosaki, rich dad poor dad. Mind blowing book if you didn’t already read it..

By: Neil Patel

Neil Patel — Thu, 05 Mar 2009 05:14:18 +0000

One of my employees did it as a kid. He made enough to buy a Nintendo game.