My Blog, Your Money

Have you ever been the boss?  It doesn’t have to be a work relationship, just a position where you oversaw, directed, or managed someone else.  If you have, there’s probably a ton of challenges that you faced in order to drive your employees to be the most productive such as who should do what and how many should do what.

You may not realize it, but the same challenges apply when it comes to your money.  That’s right, your money is a workforce that you can put to work earning more money.  George Washington, Thomas Jefferson, Abraham Lincoln, Alexander Hamilton, Andrew Jackson, Ulysses S. Grant, and Benjamin Franklin may be dead, but that doesn’t mean you can’t put them to work.

So how will you utilize them?  If you usually spend most of your income, that doesn’t leave many employees to toil away at the money mines.  On the other hand, if you save your money judiciously and accumulate sizeable assets, you’ll get a substantial output which you can put to work as well.  Obviously, volume is at work here: the more money you have, the greater your total return will be.  So keep an eye on that employee retention.

Having a lot of money employees isn’t the only factor to consider.  You also have to take a look at what each dollar is doing.  Are some at the bank, each making you several cents a year?  Are some at Wall Street gaining (or losing) value sticking it out for superior returns?  Maybe you haven’t given it much thought and most of your employees are sitting idle in a checking account or under your mattress twiddling their little thumbs.  However you allocate your dollars will determine their productivity so give it some thought and don’t be afraid to push and squeeze more return out of each dollar.  You don’t want lazy money.  And don’t worry about treating money nicely.  The good thing about having money for employees is that they work around the clock and have never heard of work-life balance.

The concept of making your money work for you is an old one, but it is a key factor for many ordinary folks in getting out of the dreaded rat race.  If you have enough dollars working for you, it won’t be long before you no longer have to answer to a boss.  The key is to manage your money well by building up a solid base and allocating each dollar appropriately to maximize total return.