I saw a clip from the Larry King show that had a panel of money gurus on it and were addressing the fears of a recession in the US. Now apparently there is some kind of plan down there to give families say an extra $600 a year that is going to take place in hopes that people will spend it to reinvigorate the economy.
For the most part, they were cynical on how it is only $600 which wonâ€™t do much and that in terms of a recession they viewed this time as a great event if youâ€™re an investor as it should be time to buy with prices being low. They then dived into how people have to change their way of thinking when it comes to money as generally if you are stuck with that workers mentality when it comes to money then not surprisingly times like these will be bad for you.
The general message is very true I thought as it does have a lot to do about mindset when it comes to money. The only thing I was a little bit iffy about was the notion that $600 canâ€™t do much. Maybe I am just one of those Internet age people, but you can definitely do a lot with $600 if you really want to. Heck, with the Internet there are so many things you can do even with no money to try and generate an income.
Even thinking of it from a more traditional view, I even see things such as people say holding their own simple speed dating events which costs them very little to do while being able to generate a profit fairly quickly. Good old fashion entrepreneurial spirit mixed with passion and ambition I guess you can say.
I guess like with the $600, even with that it comes down to mindset as you shouldnâ€™t limit yourself to only one type of thing that you can do. Example, if I was only thinking more traditional investments such as stocks and real estate then of course that figure sounds like nothing. Expand your way of thinking. This might sound strange, but another example would be to take that $600 and invest it in yourself to become more knowledgeable as a person. Your newly acquired knowledge can end up generating great returns for you.