This site (from Rich Dad, Poor Dad) has some games designed to help kids and teenagers understand how money works.

I think these games work quite well to help you understand how money works. (I spent about an hour playing them when I was sick from work a few weeks ago).

Or – you could just go home and play Monopoly. And then try to apply it in real life!

I realise I didn’t upload the video link.  Click Here to watch the video of me on A Current Affair

After watching the video you also might want to check out the Further Resources for A Current Affair viewers post that I posted at the time.

Start your engines and spin your wheels aimlessly

Sometimes when you are dealing with people you are both looking at things from different angles and making assumptions about the other party (there was a movie with the line when you make an assumption you make an ‘ass’ of you and me!). (I think ’spinning your wheels’ is a great way of saying you are getting NOWHERE!)

Example 1: I am a guitarist/singer and today I got a reply to my request for covers gigs on musician classified site www.rockstarhookups.com.au (love the punchline..Singles need help. So do musicians!).

The guy requested I tell him a bit about my experience, etc – which I did, I work full time, this website, in a band, have an encyclopedia knowledge of guitar songs, great guitar player/singer, yada yada yada (as readers will know I am not afraid of shamlessly promoting myself).

He comes back with -thanks but you don’t fit the bill because of X, Y.

Then I think what do I have to lose? – I msg back everything that will SELL him on me and answer anything that might NOT make him want me (or I say Yes I am  X, Y and I also can also do Z, A, B, C too).

But …. and here is the CRUCIAL BIT OF INFORMATION… The pub is IN ANOTHER CITY!!!!! And they want someone to play for 3+ weeks (which of course I can’t do working full time). (p.s. if anyone does want this gig… email nomoneyau@gmail.com)

At Work – and this happens a lot a work. One simple piece of information can change everything. A Boss might assume a junior staff member has considered something which they hadn’t. A junior staff member might question what the boss does even though (my article!)they don’t know what they don’t know.

In Investing - you might look at this site (or seen me on A Current Affair this week) and say – that idea about (my article!)the first home saver account idea that I told A Current Affair watchers. But if you set up one of these and then buy a house in 4 years but you haven’t contributed $1,000 a year – the money has to be transferred into your super account!!!.

The takeaway – the practical stuff

1. Ask the main detail/stupid questions first (ask where is the pub located, etc.). Don’t ask 50 million questions but in Example 1 obviously where the pub is makes a big difference. How many nights a week playing would also be important to me but I think this is less of an issue in this case (i.e. that is more negotiable)

2. Read the fine print – and Don’t follow anything on this Website! (see our disclaimer – I don’t know you that ONE CRUICAL bit of info (e.g. you will buy a house in 3.5 years instead of 4) can make ALL THE DIFFERENCE.

3. Try to understand exactly where the other person is coming from – or as Stephen Covey author of one of my top 10 books The 7 Habits of Highly Effective people says ‘seek first to understand, then to be understood‘ (Habit 5 go to the above link and click Habit 5 for more on this)

This week I have worked 14 hours Wed & Thurs and worked about 5 hours on Saturday. They were honestly a bit concerned – and also surprised. They wanted to know whY?

Why was I spending all my time working on this? Why was I so concerned about no money?

I have only lived with them for 6 months (although I’ve known them through church for a long time). They probably hadn’t noticed that I am a hard worker and a bit driven (OK sometimes a bit obsessive..). They hadn’t seen that I worked 3 jobs for years while completing uni part time and later my CA (Chartered Accounting course).

ASK YOURSELF WHY?

But to ask yourself WHY? is a very good thing to do  – so  I went away and wrote 2 pages of bullet points about:

why I want to do the nomoney site (to help young people & earn money myself)

why I want to be financially free (lots of reasons here – from most selfish – I’d like more time to relax,go surfing - to least selfish - giving money to charities/church)

why I might want to go into business for myself down the track (similar to answers in financially free question). I also asked myself a few other questions.

Ask yourself Why? – Your Goals

Perhaps the most important question when you think about your goals is – Why do I have these goals? Or Why is this important to me?

Perhaps you need to ask 3 times before you get to the real answer (I think it is Stephen Covey – author of the 7 Habits of Highly Effective People who came up with this 3 x whyY? approach)

So for example – My goal is to get good grades.

1. Why? so I can do well at school/uni.

2. Why? so that I can get a good job

3. Why? (insert your own answer here) Your answer might be anything but a few examples:  so I can support myself/family, so I can buy clothes, fit in with society, become CEO, become respected/popular/famous, etc.

Or another example The Fisherman vs. The Business Person - this example best shows the WHY in operation, however it is the original article from Achievers Group that I have stuck on my wall at work.

How your WHAT might fall apart with the WHY

You might think that you want a High-paying job. But when you think about it you realise that your WHY for getting a job is to support your family and relax. But with a high-paying job you have to work more hours and would probably be more stressed    – so you might decide that you are happy with a normal paying job that you can leave at 5:30pm.

So in thinking about the WHY – you might well realise that you are content where you are (the link goes to why I choose to be happy/content).

I’d love to hear from you at nomoneyau@gmail.com if this has helped you, or you have other comments (or if you hate this article, or if you think I should stop writing and put my head in the toliet , etc.)

Postscript:

Just as another thought – I thought I would tell you WHY I work at my job as an accountant (these aren’t ranked- just in the order I’ve written them down).

 - I love to help people – (I like to please people, I want people to like me, I am HAPPY from making other people happy, whether this is by serving them at the supermarket and talking about their day to helping them save tax or providing quick, practical service)

 - I love stuff involving money and business and find it fascinating (which is why many people say to me… I could never be an accountant!!!)

 - I am a bit curious about people and how they live their lives (and I have met a huge range of people through working)

 - I have a really good boss (look I am not a suck up but Bill is one of the most nicest and most patient guys I’ve met. He isn’t perfect (who is?) but he is someone who I try to be like in many ways. Keith (who I report to) have quite different personalitities but he has always treated me with respect and is also a very nice guy)

 - I like the company I work for (So many geniune people, good working conditions, people who will listen if you suggest a better way to do things, and a team building day a year to celebrate)

So that means I am not 100% it will actually be on TV Thursday night. although it will be on soon I’m sure. (and once the interview is on TV I’ll put up all the extra research  I did for the A Current Affair & links)

(I’m not dreaming – I really did spend 2 hours today being interviewed by Kirstine Lumb, getting shots with me and the case studies, etc, etc).

Random thought –  Out of Office Replies – are they really needed at this time of year?  I got 16 of them after I sent an email to every person I have every met (and their dog!) that I will be on A Current Affair. (Actually I only sent emails to people that came up on the auto finder – so don’t get too offended if I know you and didn’t get one..,.gee its hard to please everyone). Because if you email someone at this time of year and its urgent…. its probably better to call them as they will be happy to hear from you (so quiet this time of year!)

I also try to keep the blog real – with real life examples from friends and my life (and a few lame jokes here and there!) See About No Money.com.au for more about the site.

Watch A current affair tomorrow night to see my top 5 tips for Generation Y. (if you miss the show you will be able to check the video on the A Current Affair website – http://aca.ninemsn.com.au/)

WHY: I have created the website to give practical info for young people to help them reach their financial goals (check http://nomoney.com.au/about/.

AFTER THE SHOW: Make sure you check the site as I will post up my notes and resources to get you to take FULL ADVANTAGE of the Top 5 Financial Tips for Gen Y.
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