How to Manage Money: Lessons From Obama

BANGALORE: President Obama is known for implementing the stimulus package to stabilize the US economy, but what money lessons can we learn from his presidency and earlier days that led him to becoming one of the most powerful people in the world? Rediff.com has compiled a list

Listen before you speak

Obama has attributed his great oratorical skills to being able to listen as well to what his voters want. He has said that listening helps him learn how to craft speeches that will reflect and address his voters’ concerns.

Have a clear and consistent vision

Right from his first election campaign, Obama had a clear vision that he communicated: change. This helped win two campaigns, and although he constructed his messages differently each time, having the consistency of one approach helped him win.

With the economy at crisis levels, Obama focused on it entirely and took tough financial measures. Inspite of the anger with Wall Steet, a cash infusion was necessary to keep important institutions running, and this was done.

Pay off your debts as aggressively as you can

Perhaps the most important lesson one can learn from Barack Obama is from before his presidency. He has publicly acknowledged that it took him 13 years to pay off his loans for Harvard Law School, and that he had to work in the corporate world, and drive an ordinary car for a long time before he was able to save up enough to fully pay it back.

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