However, I soon found yoga was a fairly demanding form of exercise for the following reasons:
- Yoga uses muscles that I don't usually use in other forms of sports.
- Yoga uses muscles in different ways that in other forms of sports.
The Personal Finance Lesson
To me, the successful practice of personal finance is a lot like my experience with yoga. Good personal finance principles are simple and timeless.
- Spend less than one earns. Live below one's means. Buy only what one needs.
- Save, invest and benefit from the magic of compounding.
- Use debt sparingly and for items that may appreciate (e.g. home and education) and not for everyday expenses.
- Go to college and major in a degree that leads to a profession.
- If it sounds too good to be true, then it is.
However, for many people, it is hard to follow these principles. I admit, it was hard for me at first also, because the principles were contrary to my desire of early gratification. However, the longer I stuck with it, the more these principles became a habit and easier to do. My reward is that I was able to retire in my forties. I hope I have an equally successful transition experience with yoga:-)
For more on The Practice of Personal Finance , check back every Wednesday for a new segment.
Photo Credit: morgueFile.com, Sanday Pindiyath
This is not financial advice. Please consult a professional advisor.
Copyright © 2007 Achievement Catalyst, LLC