Sometimes, when I'm feeling stressed about money I try a little trick to calm myself. I smile and slowly say "Mark, it's only money." In other words, me not having enough money (or losing money) is stressful but it's not the end of the world. There are much more worse things that could happen to me or to those who I love. Coincidentally the Bank of Canada just lowered it's prime rate again (by a quarter of a point) and they expect to do so again in September meaning that my next mortgage is going to be even cheaper! Yay Bank of Canada. Combine dropping rates with dropping property prices and there is definitely a silver lining on this whole financial "meltdown" thing. The world's richest people usually make their fortunes during times of uncertainty and panic. Don't be paralyzed by fear. Opportunities are out there - take advantage of them! And remember . . . it's only money! (It's only half the truth, but sometimes necessary to help us get through the day. . .)
Church service at Holy Church near Rescue 1
4 weeks ago
4 comments:
so when are you gonna become one of those "rich" people?
"next mortgage?"
Just be careful with the "it's only money" approach; that can be an easy way to go into debt and not set aside some savings!
Tornado: As residents of Canada, with a bank account, we are already in the richest 5% of the worlds population!
Anonymous: The next mortgage refers to my next attempt at real estate investing - sometime in the near future hopefully.
Jay: No worries. I don't use the expression to justify financial imprudence, rather I use it to put salve on my wounds when my stress over it gets so high that it does bad things to me. I'll keep saving!
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