Michael Jackson Personal Finance Reading

Here in the personal finance world, many have been looking at Michael Jackson as an example of what not to do. Though a talented performer, Michael Jackson was not nearly so savvy when it came to money. His financial legacy reminds us that, ultimately, in order to enjoy true financial freedom, it is important get back to personal finance basics:

1. Earn more than you spend.
2. Keep track of your outflows.
3. Don’t buy things you can’t afford (especially high-priced, luxury items).
4. Use debt as sparingly as possible.
5. Set aside money for the future.

Plenty of personal finance folks have written about Michael Jackson and his financial legacy. Here are some of the highlights of the financial coverage surrounding the King of Pop:

• MoneyEnergy provides a parody of “Just Beat it” called “Just Budget”.
• Bible Money Matters offers a look at famous finances (including Michael Jackson’s) and admonishes every to spend less than they earn.
• Daily Finance looks at how Jackson memorabilia is already rising in price. As with other stars, Michael Jackson may make more in the afterlife. Too bad he won’t be able to spend it.
• Entertainment Daily has a piece on Jackson’s attempts to blame his nanny for some of his financial troubles.
• Banks.com looks at what makes a prudent investment. Jackson made some good investment moves, but they weren’t enough to overcome his poor decisions.
• Kitchentablenomics explores the money lessons we can learn from Michael Jackson.

Image source: U.S. Government via Wikimedia Commons