My Michael Jackson Article.

Everyone has written about the King of Pop so here's mine...

Its been a few of months since the death of Michael Jackson so I thought that maybe I should be able to write about him now without getting everyone angry at me. Please don't get me wrong, I loved Michael Jackson's music. He was indeed a legend. But unfortunately this guy knew very little about handling money. He is the perfect case study of what not to do with your money!!!

Back in the 80s or 90s he bought the rights for all the Beatles' songs. This means that everytime someone plays, remakes, or buys the Beatles' songs he makes money. Add that to his own song collection and you have passive income like no other!!! Yet how does a guy who also signed a record deal for USD500 million go nearly into bankruptcy? Its totally unbelievable. But yes Michael Jackson nearly did go into bankruptcy and he nearly lost his famed Neverland Ranch. When he died he had debts of around USD200 million. Magastos talaga siya!!!

Its a classic case to all the people who tell me that the only solution to their financial problems is to earn more money. Learn from the King of Pop. No matter how much you make if you don't know how to save and cut back on your expenses you will never have enough money.

So if you do get a salary increase, or you win a little bit of money in lotto, or you get money from inheritance, or you get a big commission or your business makes a good profit. Don't change your spending habits! You lived without this money in the past so you don't need to spend it. Save it instead... So you don't have to work hard all your life.

Oh one more thing... Don't tell anyone in your family you got this extra money... I hope you know what I mean.