Tuesday, July 7, 2009

Micheal Jackson's Passing: A lesson to be learned in frugality.

Micheal Jackson has touched the hearts of many and with his passing grants us a window into his life. Here was a man who was plunged into the spotlight around the age of 5 and only ascended to higher stardom. However in his passing it calls upon the lessons of money management. Micheal might have earned a high income, but he was overall, bad at managing money. With this said, Chuckie's Blurbs is not going to say that his spending was all bad. Afterall a selfless man who gave to many a charity broke the world record for contributions. No we are going to examine the side of Micheal that lost the Neverland ranch, the side of Micheal that was childish in his manner of holding on to earned income.

Topping Thriller was a part of his obsession which drove him to succeed and while drive is important, pragmatism is perhaps even more. He wanted to surpass Thriller, but that album was a tough one to beat. Eventually he lost focus on his finances and just about lost everything that he so worked for. I am not saying if he wanted to have a Neverland Ranch he should resist. No that was a valuable investment along with the Beatles royalties.

One of the main keys to frugality is to have focus. While he did gain some part of this before his passing, he lost it too little too late. While he might have been the greatest entertainer ever, his status got to him and it caused his own downfall. Never let other people put you on a pedestal about how much money you have. They do it to me all the time and I have to take their complements with a grain of salt. The lesson one should learn from Micheal's passing is that to reach a Thriller-esque goal with your finances you have to focus or you will fail. Giving is good, but one should have money to give money.