Fast money Vs Slow Money what's your take?
By b4balaji
@b4balaji (410)
India
November 30, 2009 8:17am CST
According to my dad, when you earn fast, it means you are going to spend fast. When you earn slow, you spend slow.
And I accept my dad's saying. I have seen people getting rich soon, they spend a wealthy life for 5 years, but after that they fall and come to normal.
Has it something to do with money (or) management of the money (or) history of the money?
7 responses
@ishme4nowz (679)
• United States
3 Dec 09
I agree with your dad's saying as well. When we earn money fast or earn a lot at once, we tend to want to spend a bit more than usual because we have a lot of money in our hands, but when we earn slower and not as much at once, we tend to want be a little more conservative with what we have because we know it'll take a while to earn back. I think part of it has to do with how we think and how we manage money.
@scheng1 (24649)
• Singapore
30 Nov 09
Not necessarily, some people spend whatever they earn, no matter hard-earned money or lottery winnings.
Some people never overspend no matter the source of money, that's why they become rich. It all depends on people.
Most sensible persons know enough about insurance and fixed deposit to save money first, before they start to spend the rest.
@theonehush (959)
• Philippines
1 Dec 09
hey b4balaji..
well first of all i dont know if what your dad said applies to everyone.. in my opinion its not how you earn money whether it be fast or slow but its how you manage it.. its always been up to us whether or not we spend or not.. money is just another thing in this world.. but the decision always comes down to us.. money cant decide for itself..
@chriszh22 (432)
• China
1 Dec 09
Right attitude towards money. It's not everything but you can't live without it! When you spending money like water pls think of the poors.
@moneymommy (3418)
• United States
30 Nov 09
LOL this is true, I would like to have fast money combined with some slow residual income. Now that sounds like a plan.