Category: The Golden Rule

How to save your marriage, ladies!

Because there is nothing more expensive than a divorce.

You will find that there is nothing more expensive in this world than a divorce. So if you can save your relationship — well you have just saved yourself a fortune.

Photo by Thái Huỳnh on

Last night at Goldsmith Money (YouTube), we examined a Medium article titled ‘Hidden in Plain Sight: What Women Need To Know About What Makes Men Happy’.

The article was first published by Relationship Counsellor Deborah Fox in 2017, republished by Medium’s The Good Men Project, on 10 April 2020.

The article resonated with me — a husband and partner of nearly 20 years. It touched on what I consider to be some quality tips for maintaining the emotional connections and communication within a long term relationship. And all from a woman’s perspective!

If this video saves just one marriage and the enormous associated costs – we will consider it a success.

Please enjoy and share with that special someone in your life.

And if you do enjoy it – please be sure to hit LIKE and Subscribe to the Goldsmith Money YouTube channel–SGa4LFjB7s_0A/

Thank you.


This video is one man’s opinion and general discussion only. It did not take into account your personal or financial situation. Before acting upon anything you see or hear in this video, you should seek personal and professional advice.

Why pay taxes…

when they can just print money?

Day 1 in Coronavirus Home Isolation, we are thankful that the governments of the world are printing trillions of dollars to keep us fed and paying our bills.

Day 2 we start to wonder… if the governments of the world can simply print money… why have I been paying taxes for all these years?

Image credit

The taxes we have paid all our working lives pales into insignificance to the amount of currency printed by governments over the past month.

If you have been reading this blog and other similar blogs, you are part of the Financial Awakening. You understand that there is a finite amount of resources in the world. You also understand that currency is a claim over these resources.

When currency is printed by banks and governments, it is creating new claims on the finite resources. In effect, it is stealing resources from those who had been saving their currency and allocating those resources to others.

Once the panic of coronavirus is over, the reality of what we have done will set in and the inflation will begin.

Pay attention to how different countries attempt to combat this inflation. There will be:

  • price fixing;
  • rent fixing;
  • wage fixing;
  • loan fixing;
  • more printing; and,

many combinations of the above.

Of course this has all been tried before and by potentially every failed civilization in human history.

The Financially Awakened (especially those in the US) will be on the lookout for a currency reset. A reset to a gold or silver standard would be a reset back to good money. However, a reset to a new fiat currency, would be simply be starting a debt based system over again.

There has been some talk about a new Digital Dollar. This is not a cryptocurrency. This is simply another fiat currency, which will be electronically printed and issued at the discretion of those in control.

Regardless of many good intentions at this time, we must remember that no country has ever printed itself into prosperity.

To finish I would like to say – citizens paying taxes can be a wonderful thing. Taxes can build great nations. Just as important however is the Golden Rule – Governments should be spending less than they earn. Additionally, well managed countries with plenty of savings, would have no trouble managing pandemics, without the need to print.

So tell me…

  1. What would you do if you were the leader of a country, which was tens of $ trillions in debt?
  2. How will you protect yourself against consumer price inflation?

Please stay healthy… and wealthy.


The Golden Rule

There are many financial self-help books which claim to hold the secrets to unimaginable wealth and financial success. They promise that you, no matter who you are, you are just 5 steps away from being the world’s next billionaire.

Well dare I say that not everyone is destined to be a billionaire. However, there is a common theme that runs through these books – this theme I call ‘The Golden Rule.’

Not to be confused with the Golden Rule of the Bible – ‘Do unto others as you would have others do unto you’, this Golden Rule guarantees financial success for all who do obey. 

Mums and Dads, businesses small and large, clubs, co-ops and even governments should all strive to learn the Golden Rule.

The ultra-rich of the world already know the Golden Rule.

And now you do too.

The Golden Rule is –

‘Spend less than you earn!’

Or to be demonstrated mathematically –


This is it!

About all it takes to be wealthy… and perhaps even happy.

‘Spend less than you earn’ or earn more than you spend.’ Whichever way you prefer to say it, success is most definitely guaranteed.

For a household, the rule should mean running a budget with a savings plan… and sticking to it. 

For a business it means running a profit.

For a government it means running a budget surplus.

Adherence to the Golden Rule is wonderful – your wealth will grow and from this new wealth, more wealth will grow. 

The Golden Rule declined

Failing to adhere to the Golden Rule is fraught with danger. 

Spending more than you earn depletes your savings, may force the sale of your assets and may force you into debt. For a time this may be manageable. Understand however, spending more than you earn now, means you are taking an advance on your future earnings.  

In the case of an individual, this advance required you to forgo the use of your future earnings in exchange for a perceived benefit now.

In the case of a business, you will forego future profits to bring forward a benefit.

In the case of a government – they are taking an advance on the future taxes which will be paid by you, by your children and maybe even your grandchildren.


When it comes to government spending, there is an economic theory which suggests that the more a government spends, the more prosperous that nation will be. The premise being that by spending more than it earns (deficit spending), the country will foster economic growth. This theory is known as Keynesian Economics.

Back in my university days I questioned the validity of this theory, much to the distress of the faculty and staff.  To this day I have seen no practical evidence to support this Keynesian Economic theory. There has certainly been no shortage of national borrowing in the past 20 years and over this period there has been little in the way of real GDP growth. So I stand by what I said back in the late 90’s – ‘a country can never borrow its way into prosperity.’

A Golden Choice

Stick to the Golden Rule – it will not let you down. Strive to increase your wages, salary or business income and be constantly questioning your purchases.

Avoid credit cards and other personal debt. Living within your means now, should improve lifestyle over time.

Don’t be mistaken though, the Golden Rule in no way implies that all debt is bad. Some debt can actually be good. To understand which debt is good however, you must understand Intrinsic Value, our next foundation principle.


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