The Difference

Jean Chatzky recently wrote a book called “The Difference: How Anyone Can Prosper in Even the Toughest Times.” Or as I read it -- “The Difference: How Anyone Can Prosper on Almost Any Salary.”

In the first chapter, she talks about four different types of people – the wealthy, the financially comfortable, the paycheck-to-paychecks and the further-in-debtors. As I looked over the criteria for being in each group, I discovered that I am somewhere between being financially comfortable and paycheck-to-paycheck. That is, I spend less than I earn but I don’t have $240,000 in investable assets.

Well, that’s nice, but what can I do to change? What can I do so that I can truly be financially comfortable? Well, as luck would have it, the point of the book is to teach people what they can do to change their financial caste. To this end she gives a list of twenty indicators that wealthy people generally share. The more of the indicators you have, the better off you are financially. So, I am working on my indicators. So far I’ve got eleven out of twenty. That’s pretty good. Right?

Total Cost: $16.47 on Amazon for a financial personality test, or $0 at your local library.