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The Wise Investor

2 Personal money management
2.1 Wise financial management
John stared across the park, silent.
Minutes passed, and Kate become nervous. She
briefly wondered if John had fallen into some sort of
trance, or forgotten altogether that she was there
with him. She waited for him to say something,
unsure of whether to speak or stay quiet.
"Err, John," Kate said nervously, "How should
we start?"
John's face turned slightly red. "I'm not quite sure,
sweetie," he said. "Where does one begin with these
He looked a little nervous, Kate thought. She
realised that he was unused to sharing his insights,
so she prompted gently to reassure him. "Let us
begin at the beginning," she said playfully, quoting a
passage from Alice in Wonderland.
John raised his eyes and looked beyond the park
to the city skyline. Prominent among the buildings
was a half-finished skyscraper, a famous project
that had been plagued with problems and was never
completed. As he stared at the building, an
inspiration struck him and he began to speak.
"We will start with wise financial management,"
he said confidently. "Everything else flows from
this. If you don't manage your money wisely,
everything else is doomed to failure."
"Isn't that everything, though?" said Kate,
"Not at all," replied John. It is simply the
beginning. First, you must manage your money
sensibly. Then, you must save part of your income.