While watching the news today there was a story on how Queen Elizabeth needs to start managing her money a little better as apparently last year she spent way beyond her means and is now down to her last million dollars. This of course resulted in people providing insights and advice on how to reverse the situation.
One advice I read was that she should consider opening the palace to tourists more frequently as it would be a way to generate more income. What this made me think of is how the time to start thinking of things like this should be right now even if we are in a good financial position and not only when we find ourselves in a financial dilemma. I guess it’s like saying, does it make sense to only be conscious about your health only when you are on the brinks of going to the hospital for example?
I guess for many of us we simply don’t feel the urgency to do things like this unless life is forcing us to, so to speak. As shown though I suppose, even the wealthy needs to worry about finance and cash flow as eventually the money runs out.