One thing that bothers me more than anything that is repeatedly said, is that we should tax the wealthy even more so that they can help us out of the financial crisis that America has created for themselves. Through gross over spending, and people living way above their means.
What society doesn't understand, is that they are the top 1% for a reason. They are taught about investing, how to manage money, how to earn money from their investments. Granted many of the people who are in the Top 1% start out with enough capital to start investing earlier than many of the working poor.
What upsets me the most, is not that these individuals have more than me. It's that just because they have more. This automatically makes them bad, thieves, cheaters and crooks. We need to move away from using negative terms like these to make ourselves feel better about not having, what they do.
They should NOT be punished for being successful! This is America.. They are living the American Dream. Isn't this why so many people immigrated here in the first place. You should be proud of your fellow citizens who are doing well. If you taxed the richest people in America at a higher rate, to help lower the taxes of the Middle Class and Lower Class. What will this do? Well they should end up with more money in their pockets, but how will this help us? Most of the people will spend the extra money they receive on things they really don't need.
What most Americans should do if they do in fact get more money, in their paychecks or at the end of the year is pay down their personal debt. If you are in debt, first stop spending. Second figure out what your monthly bills are, pay down the lowest balance with the highest interest rate first. When you have paid something off this will feel like you are winning in the battle of debt.
Monday, January 7, 2013
Building Your Nest Egg, 10% at a Time.
Deciding to brush off the dust on a book I purchase, and never actually read. The Richest Man in Babylon By Clason, George S.
You will learn from this book, that through saving 10% of every dollar you earn. You can substantial improve your net worth over time. Then make the 10% that you save into income generating streams. Also the book illustrates that some ways of gaining wealth quickly, don't pan out the way you might hope. This book is a great point to start off, I wish I had read it when I was a teenager.
You will learn from this book, that through saving 10% of every dollar you earn. You can substantial improve your net worth over time. Then make the 10% that you save into income generating streams. Also the book illustrates that some ways of gaining wealth quickly, don't pan out the way you might hope. This book is a great point to start off, I wish I had read it when I was a teenager.
Wednesday, April 25, 2012
Cash the low tech way to budget
Working towards financial freedom is nothing short of a full time job. Take the steps to top the gushing
flow of excess spending.
One thing that you can do is stop using your debit cards, start carrying cash around in your wallet. Set
an amount that (remember the allowance your parents gave you, make the money last) you can spend each week
once the cash is gone, you are done spending for the week.
Do you know how much money is in your checking account, or are you waiting for another awkward moment when the cashier tells you. "You Card Is Not Going through"!
No one can control your finances you have to take the wheel, steer yourself out of the debt. You have
created it, now you need to fix it. It will take time, it's not a easy battle.
flow of excess spending.
One thing that you can do is stop using your debit cards, start carrying cash around in your wallet. Set
an amount that (remember the allowance your parents gave you, make the money last) you can spend each week
once the cash is gone, you are done spending for the week.
Do you know how much money is in your checking account, or are you waiting for another awkward moment when the cashier tells you. "You Card Is Not Going through"!
No one can control your finances you have to take the wheel, steer yourself out of the debt. You have
created it, now you need to fix it. It will take time, it's not a easy battle.
Tuesday, January 24, 2012
401k Employer Matching
So here is a great way to give yourself a 6% raise in most cases, however in some cases the percentage of match could be lower. If you are not contributing to your 401k that your employer is offering you, your basically throwing that money away.
If your employer is going to contribute a 100% match up to the 6% that you are already putting in, this means you have just doubled your money. Plus the money comes out before taxes are applied, thus lowering your earned income at the end of the year.
If your employer is going to contribute a 100% match up to the 6% that you are already putting in, this means you have just doubled your money. Plus the money comes out before taxes are applied, thus lowering your earned income at the end of the year.
Stop Living Above Your Means America
So many people today in America are living above their means. They cannot pay their monthly bills, creating debt that their are drowning in.
Stop buying things you DO NOT need.
Example: I was spending at least $10 a day in lunch a day that's $50 a week. $200 a month and $2400 a year.
I have started bringing my lunch to work, yes it might not be the coolest thing to do. But with this new found savings I am able to allocate more funds in to paying off debt.
Figure out what your monthly bills are.
Are you making enough each month to pay all of the bills you currently have? If not, what are you going to do. Pick up a part time job? Start blogging? Figure out something you can do that others cannot, some people would be willing to pay for the service you provide.
Pay down the lowest amount of debt with the highest interest rate first, this will help you in two ways. One it will stop the additional money being added to the debt via Interest. Two it will make you feel like you are putting a dent, and gaining momentum in your battle against your debt.
Stop buying things you DO NOT need.
Example: I was spending at least $10 a day in lunch a day that's $50 a week. $200 a month and $2400 a year.
I have started bringing my lunch to work, yes it might not be the coolest thing to do. But with this new found savings I am able to allocate more funds in to paying off debt.
Figure out what your monthly bills are.
Are you making enough each month to pay all of the bills you currently have? If not, what are you going to do. Pick up a part time job? Start blogging? Figure out something you can do that others cannot, some people would be willing to pay for the service you provide.
Pay down the lowest amount of debt with the highest interest rate first, this will help you in two ways. One it will stop the additional money being added to the debt via Interest. Two it will make you feel like you are putting a dent, and gaining momentum in your battle against your debt.
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