by Jeff Thomas
In 1987, Levon Helm, a former cotton farmer from Arkansas, sat brooding in his yard, trying to describe why his apparent success had turned to near-bankruptcy:
“Well, it’s hard to put your finger on. You get behind financially and once you get behind financially, you seem to get behind spiritually. And your luck turns against you.”
Levon’s perception of his situation is a common one. He had become quite successful, but had never learned to understand more about economics than, “If you got it, spend it.” As a result, throughout his life, he repeatedly found himself in monetary difficulties. He habitually lived in the moment and didn’t invest much time analysing what his actions would need to be to assure a sound economic future. Unfortunately, his approach to his future is, to a great extent, the approach of the vast majority of people.