Sunday, July 12, 2020

Education

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Education is the process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits. Educational methods include teaching, training, storytelling, discussion and directed research. Education frequently takes place under the guidance of educators, however learners can also educate themselves. Education can take place in formal or informal settings and any experience that has a formative effect on the way one thinks, feels, or acts may be considered educational. The methodology of teaching is called pedagogy.


Many professions are required to take continuing education. Have you considered even if you only graduated from high school, college or trade school that your education continues your entire life. What are you doing to continue your education? Here at this blog you encourage you to learn how to manage your money in a way that you are out of debt and you can build wealth for your future and the future of your family and community.

We offer a free initial meeting where we will provide you with free tools to get out of debt and start building your wealth.

Coach Dungy of the Indianapolis Colt says that everyone needs to have mentors in their life. That includes someone that can help you to keep you on track regarding your financial future.

“We’re having to readjust some things, but we can still be intentional with our money.” — Chris Hogan

Saturday, July 11, 2020

Best Credit Cards

Looking around the web I find many companies advertising their credit cards. Do you know how many credit cards you should have in your wallet?

Are you the Master of your credit? Are you seeking a Visa for your next trip? Are you hoping that the lockdown ends so you can Diner out once again with family, friends, and business associates? What about that emergency expense? Are you thinking I can whip out that piece of plastic to solve my financial problems?

I see company after company that is seeking to expand its customer base. Maybe it is Best Buy, Target, Walmart, Macey's, Home Depot or just name your favorite place to shop that has a credit card. Wow, I can save anywhere from 10% to 20% on my first purchase. How much do you save on your next purchase with your favorite retailer when you go into making a purchase. Whoops, why am I visiting a retailer to make a purchase or why am I visiting their website to buy something? Do I really need that credit card? Oh, yes now I know why I need that card. I need to build my Fico score I am thinking. Really? Why do I need credit? Oh, yes, I remember, I need it because I want to purchase a new home or a new car.

I am out looking at new cars with loans that are zero percent interest on the loan. This is a great deal. I get a new car with a new car smell and I can drive all over town with people looking at my new car seeing how successful I am in life.

I have news for you. You do not need credit. Credit is your enemy, it is not your friend. People do not care what stuff you buy in life. They are sitting on the sidelines cheering you on to make purchases (they might get some benefit) or they want you to go on vacation with them. Oh, vacations are on hold at the moment for most of us with COVID-19.

Did you know that credit card interest rates are between 0% (limited time) and 29% each month you have an outstanding balance. Do you have credit card debt? If you have $1,000 in credit card debt you may be paying out as much as $290 a month in money that you will never see again. This $290 is like taking the money and lighting a match to it. I know you would not really do that but in essence, that is what you are doing.

I am getting off the subject. There is no best credit card or loan anywhere on this earth. All credit cards are your enemy and interest is your enemy!!!

Sunday, July 5, 2020

Covd-19 and Job Loss

Life can change in just a few days. The Coronavirus  has changed many of our lives permanently. Life will not be the same this year as it was in the past and it will probably never be the same again. For some of us we have lost our jobs and have to start a new job search and life for most of us is uncertain.

Here are some things we can do to make our lives a bit easier.

Unemployed

Apply for unemployment. For many of us this seems impossible. If you are having difficulties keep at it. Sooner or later yo will succeed on filling out the online forms or getting someone on the phone. It has been my experience that when you do get signed up that you can get paid retroactively.

Are you in need of extra cash. Filling out surveys can help to provide some extra income. It takes a bit of work. I personally have filled out surveys for several companies and have been paid. It is not a get rich quick way of earning an income but at least it can help to put food on the table, keep you from becoming homeless and maybe put a bit of gas in the car. See the top survey sites of 2020.

Click Here to visit the Survey Police

The Four Walls

We teach that when you are short of funds it is necessary to go into storm mode and concentrate on your four walls. The four walls consist of food, shelter (including utilities), basic clothing and basic transportation. Transportation can be expensive so we recommend using public transportation if at all possible. You stop paying monthly bills on credit cards and anything that is not essential for daily living expenses.

Make Every Dollar Count
Cancel all subscriptions. These would include any monthly memberships in clubs, gyms, entertainment items including cable. Youtube.com is a great way to watch television and if you have a smart phone, smart television or tablet this will work almost as good as cable. If you have favorite programs do a search on YouTube and you may find what you normally watch but for free! One of the items some of us have are things like pet insurance. This usually has high deductibles and I have found that many items that are basic at the vet are not covered. As much as we love our pets sometimes it is time to depart from our pet when their health is keeping them from having a good life. Stop  using credit cards for any purchases. Many times we use credit for wants. Remember anytime you use credit and it is not paid off by the end of the month that you will pay interest. Interest is money that you are never able to spend on things that you want or need in the future.

Expand Your Job Search
Just because you normally work in a factory or warehouse or maybe in a more upscale job it does not mean you limit your job search to the same job or skill set. We need to look to create new skills or apply for other types of employment. Many companies are seeking temporary workers or even permanent employees to take the place of those that are unwilling to go to work because of Coronavirus. Consider delivery jobs. Consider task that you can perform in your local neighborhood. If you are going to drive in a new job be sure to check with your insurance company. Consider pet sitting or dog walking as a possibility. Go door to door in your neighborhood and meet your neighbors.

Sell Stuff
Many of us have purchased stuff over the years. Look around your garage or basement. You can likely find stuff you can sell on websites or maybe have a sale of items in your driveway. Let folks know about your driveway sale on twitter, Facebook and other social media accounts. Sell so much stuff the pets think they are next.

Investment Accounts
For some of us we have been investing for our retirement. To maintain the 4 walls that we wrote about earlier you may want to consider taking small amounts from retirement accounts for survival. We recommend that this money be used only for the 4 walls. Do not spend these funds to pay off debt or any creditors. 

Reverse Mortgages
This tool is not recommended. These come with high fees and can mean that you will not have a home to stay in if you do not meet all the requirements. You must maintain the home in good repair and you still pay all the taxes. You can live in the home until death. If you do not live in the home for 12 months the monies received in a reverse mortgage come due on the reverse mortgage. This means at that time if the reverse mortgage is not paid that a foreclosure will take place.

Social Security
If you qualify you can begin to receive social security payments. It may take some time to get started but payments will be received from the time that you apply. For full details you need to contact social security. There are many variables that need to be discussed with them that includes the possibility of suspending payments or repaying amounts received if you change your mind.