Although some people consider workplace finance to be boring, many don’t realize that the way we treat our financial resources impacts our overall outlook. In fact, it’s one of the main reasons why most people have trouble saving for retirement.
The way they think about the financial performance of their company determines their outlook on life. People who are at their best when they’re saving for retirement will probably think it’s a good idea to buy a new car, and to spend more on a new vehicle. But while it’s important to spend more money on a new car, people who are trying to save for retirement will probably think it’s a better idea to spend more on a new vehicle.
This is the point where the financial conversation ends up in the crosshairs of the corporate executive. The key for most people is not to spend more money on a new car than they did in the last year, but spend more money on a new car than they did in the last year. That way, if things go well this year, they’ll have extra money to invest in better cars.
The key for most people is not to spend more money on a new car than they did in the last year, but spend more money on a new car than they did in the last year. That way, if things go well this year, theyll have extra money to invest in better cars.
I don’t know why one would get an extra car and the other would not. It may be that the new owner of this particular car would be doing better than the previous owner (who may not have the skills to get a better car) and so they’d have a better car, or that the new owner of this car is doing better than the previous owner (who may have a better car) and so they’d get a better car.
The question at the heart of the matter is whether employers would be better or worse off if they could teach themselves how to invest money wisely. The answer is that employers who invest in the stock market do better than those who do not but the reason is that the stock market is very expensive and they dont have the luxury of time to learn. The same is true for investing in bonds.
In the same way that people don’t have the luxury to learn about investing in their own 401(k)s, you could argue people should not have the luxury of learning about investing in their job.
If you have a job, then you can learn pretty much anything you need to know about investing. But you are in a position where you already know a lot about investing AND you have a boss that wants you to be aware of all the investment opportunities. That is called investing at your place of employment. Thats the sort of thing that a job can teach you. If you want to learn about investing at work, then that is the place to go.
The lesson really isn’t that expensive. The lesson is that you should really do it. Most employees don’t know how much money they’ve spent on a new piece of furniture or what their budget is when they first got hired, so they have no idea when they could budget what they need to make the most money possible. But here at WorkGuru, we don’t really have a budget system.
We just do a monthly budget of what we spend on our various expenses, and we just calculate how many different ways of spending that money will affect our future. So instead of going, “Oh I want to buy this new dress,” we could say, “I need to pay off this credit card bill.” or whatever. You know, we just want to make sure that we’re saving as much as possible, so that our financial picture is clear.