Vet News: Money Expert Tells Servicemembers ‘How to Be A Millionaire’

WASHINGTON, Oct. 2, 2006 – Speaking and gesturing like a fired-up preacher selling salvation, Kelvin Boston is known for telling television audiences how they can realize their dreams of financial stability – or even become rich.

“Everyone can become a millionaire,” Boston told some 200 military and family members attending a Sept. 30 Defense Department-sponsored financial management seminar here at the Mologne House’s conference center at Walter Reed Army Medical Center.

The “catch” is that most people don’t practice the necessary fiscal discipline and planning to achieve millionaire status, Boston, the host of the PBS television program “Moneywise,” said.

And, bad money-handling habits, the financial management expert pointed out, can often put people behind a financial eight ball.

People in bill-paying and credit trouble should seek out a financial counselor immediately to help them rectify their financial situation, he emphasized. Military members are fortunate, he noted, in that they can get such financial advice free of charge from trained counselors on their bases.

It’s never too late to achieve financial stability, Boston told listeners. “The universe is rigged for your (financial) success,” he said.

Most people make more than enough money over their lifetimes to realize financial stability – if they manage their money properly, he said.

Accumulating unnecessary debt, with accompanying large interest payments, threatens all who want to achieve financial stability, Boston pointed out.

Therefore, Boston advised his audience to formulate a plan to pay off any credit card debt as quickly as possible to avoid paying high interest charges. People with credit bills should also try to send more than the stated monthly payment amount if possible, he said, in order to pay off the debt quicker and avoid added interest charges.

He also told listeners to put some money into a savings account every payday, noting they’d be surprised how much they accumulate over time.

Another good way to make money work is to buy and own your home, he pointed out, rather than paying rent for housing.

And, “the real issue is who is setting the economic policies in your house,” Boston said, and “finding the courage” to employ budgeting and other money management tools to become financially stable, or even, “the millionaire next door.”

Each person holds their financial destiny in their own hands, Boston said. And, everyone, he added, can use the power of positive thinking -- in conjunction with fiscal self-discipline and planning -- to achieve financial goals.

“You are one with the infinite riches of your subconscious mind,” Boston told his audience. “You are happy, healthy, wealthy, and successful. Money will flow to you freely, copiously and endlessly.

“You will always be aware of your true self-worth. You will use your talents. And you will be wonderfully, wonderfully blessed,” he concluded.

Seminar attendee Navy civilian Tiffany Brown, 23, said Boston’s financial advice “is going to be helpful, because I’m trying to build my financial success.”

Boston is “an outstanding public speaker” who, “offers a lot of really good advice,” Air Force Maj. Steve Kirchmyer, accompanied by his wife, Tonya, said.

“I think everyone in the military has struggled at one time or another with their finances,” Kirchmyer, the father of five children, noted.

“There’re a lot of young troops here today” who’ll benefit from Boston’s advice, he said.

Tonya Kirchmyer said she’d tell her children about Boston’s principles of money management “so they’ll be financially secure.”

SOURCE: VNIS - American Forces Press Service