Economic Uncertainty?

To be clear - I am the farthest thing from economically-minded.

I remember, actually, back when my entire focus was acting... my dad was dabbling in day-trading. And when I say "dabbling", I mean it... in fact, not sure if he ever put any money into it, or just did one of the simulated versions - not unlike how I enjoy playing online poker.

But I digress.

My dad was having fun with this, and would sit me down and talk about what he was doing - and I would immediately glaze over, because, quite frankly, he may as well have been speaking another language. In fact, my mental state at these times was not unlike the ones I suffer when he recites his almost autistic retelling of a golf game he played, whether it's yesterday or two years ago... by the time he reaches the third hole, I'm sleeping with my eyes open.

Fast forward.

For the last year, I've been watching what's going on in the economy like a hawk - because I'm no longer a passive participant. Now, my future plans are contingent on what is going on out there, and it's forced a diligent level of attention to the rest of the world. I still don't understand a lot of it... so I ask questions. I read. And I try to become confident in coming up with my own opinion, because I'm going to hear so many different ones that it could make my head spin.

Here are the three rules of money management that seem to be universal:

• Money doesn't come easy. If it does, then you've sacrificed something (possibly your ethics) in order to achieve it... and don't kid yourself, if you've made this kind of sacrifice, you've given up more than you would have through hard work - and it's something you can never get back.
• Spend only what you have. When we go into the banks and borrow money, it's easy because it's a faceless entity that's handing it over - we have no sense of accountability, until suddenly our bank accounts have dwindled.
• Save. Put 10% of every paycheque aside. Yes, I know you've heard this a thousand times before - but do you do it? If so - nice work. If not - start.

As I said at the start - I am the farthest thing from a financial wizard that you can be... but through all of the readings I do, and from all of the lectures I've seen, these three tenets continue to come up. And in the type of economic climate we seem to be sitting in - wouldn't it be comforting for you to know that a) you have a job, b) you have no debt, and c) you've saved 10% of everything you've earned for the last five years?

~Guy