grasp the advantages of something like dollar cost aver-aging. Second, they work. All of your financial goals can be achieved through the application of these principles. What's more, they can be achieved without a significant lowering of your current standard of living. Third, and equally important, the guidelines are easy to implement and easy to maintain.
"So, I was moving toward the attainment of all my financial goals, and I didn't have to study the stock-market pages for hours a week. I didn't have to phone my broker four times a day. I didn't have to spend every Saturday afternoon reading books on investing. While my net worth continued to grow, I played tennis.
"Then Roy sat me down and explained why I should develop a household budget. He told me to keep track of every dime I spent, to read the newspapers each night and write down the items on special, and to save—never borrow—money to go on a trip. I remember him saying, 'You'll enjoy your vacation more, knowing it's paid for.'
"Even as Roy spoke, I knew there was no way that I was going to follow any of that advice. Drive across town to get chicken on special? Get serious! Develop a budget and keep track of every cent? That's just not my style. Ease of implementation? Uh-uh!"
"Let me take it from here, James," Roy commanded. "A couple of years after I had taught James the basics of sound financial planning, we got together to review his progress. His report card read straight A's. His net-worth statement was impressive, and getting more so each day. I commended him, and myself, on a job well done. So, imagine my surprise when he admitted that he had not followed any of my advice on the managing of day-to-day