Thursday, October 7, 2010
Whose advice to take - an expert or the upline?
Further to my last post about “counselling with upline”.
As people gain life experience they learn to sort through good and bad advice, take what works for them and reject the rest. Counselling with qualified financial advisors or other professionals can be smart for your business and personal life.
A lot of people have similar goals: get out of debt, put money in the bank, buy a house, make wise investments, and retire comfortably not worrying about finances. Those are basics. Some people will have different financial goals, perhaps buying a motorcycle or a jet plane or starting their own charitable foundation.
There are many paths to reach the finish line. Throughout the years I have asked for and taken advice from persons more experienced than I am. Some of the advice works, others not so good. When asked I have even offered advice. Never on the stock market! Sometimes on the ponies at the racetrack!
Prior to getting involved in Amway, Ambot was debt free. Pulling off moves he hoped to impress his upline, he started to charge, charge, charge all these crummy Amway products. Crap that we never had purchased before. We rarely buy bottled water. Now Ambot was buying it by multiple case loads costing ten times more than water at the grocery store. Did the water taste any better? Nope. Water is water. It didn’t taste gross, neither does the water we buy at the grocery. Vitamins up the ying yang. We eat a fairly healthy diet, lots of produce, we never needed vitamins before. And on and on it went. And up and up went his credit card bill.
I’ve read several books from financial experts and one of my current favorites is author David Bach. He writes The Automatic Millionaire and the Finish Rich series. I highly recommend his books.
One day Ambot and I were out for a drive. He was at the wheel of my car. He’s telling me his upline Emerald said to take out a home equity line of credit to pay off the credit card. I told him David Bach recommends finding a zero interest or low interest credit card and transferring the credit card debt to that one card. Ambot was outraged that I dare suggest something different than what upline counselled. He floored the accelerator and we flew along going about double the 40mph speed limit with me screaming at him to slow down. He was going so fast that an apple I had in the shopping bag in the back seat flew out and exploded on the back window.
I’m happy to say we never took out the home equity LOC so he could pay off his credit card. I knew as soon as he paid it down he would start charging Amway shit on it again.
The fact that he got so outraged that a financial expert could come up with a different plan than his beloved Emerald is mind boggling. The control those cult leaders have on their flock is frightening and horrific.