Money Lessons I

I believe money lessons are very important aspects of life to help anyone be great with money management. The lessons we learn can come from random places within life and at random moments. What I am hoping to accomplish with this post is to make all of you aware of the mistakes you should avoid, this will solidify, if you finish the post, the important message you will receive below.

 

Money Lessons:

Never take out a pay-day loan, interest is about 359%. (Just not smart)

Do not ever pay a debt consolidation company to help you get out of debt.

Avoid missing or being late on a loan payment

Owe the IRS, pay them off ASAP to avoid penalties and interest fees

Never borrow from the 401K as a loan (Unless you will avoid bankruptcy/foreclosure)

Do not get your pay garnished by being irresponsible and not making payments

Avoid bankruptcies and Foreclosures as it will damage your life for 10 years

 

These are some of the worse money mistakes you could make with personal finance. I think with information many money decisions and or mistakes can be avoided before a serious issue may arise. On the other hand if you do not care and are living life by always yelling out YOLO then one of these issues might hit your doorstep if you are not careful. Digest all of these lessons to make you an efficient and powerful decision maker when it comes to handling your paper.

I hope you all have never experienced the mistakes above because they are a total bummer. It can take you years to recover from getting your Money mojo back on track. On the other hand if you are struggling with one or a few of the issues listed above, you can get help from a financially responsible family member or read more personal finance books to improve your situation.

 

Comment if you agree to avoiding the money lessons listed above?

 

Rich Uncle EL

 

Quotes 6

 Quotes 6 Pic

 

If I were to ask you what motivates you, could you tell me a response immediately?  Well I feel that quotes can fulfill that need to give us that extra push we all may need. Below you will read the best quotes you have ever seen anywhere in the web. Well if you don’t feel the same way I do, please comment below with your own unique quote.

Today I decided to not have  a theme just a random set of quotes to excite you and light a fire under your butt. These are not the average quotes you read all over Instagram or Facebook that have been reposted a million times. These babies are all original by yours truly. If you are asking yourself why would I listen to you, you are not retired, you are not the millionaire next door ala Mr. Stanley Thomas. I say to you I’m just a regular guy who is looking out for all of you by giving you all awesome five-finger discount free content.

If you are the type of person who cannot accept a phrase by someone who is not famous then go read again the Albert Einstein quote you read for the thousand or so times. We all believe the hype that all these past famous dead people left those quotes while working and inventing the light bulb. It is very suspect, but I am not here to judge. See below for all the awesomeness. Lol.

 

Quotes 6:

Embrace financial freedom by controlling emotional spending – Rich Uncle EL

Having a good offense is ok, but having the perfect defense wins all the games – Rich Uncle EL

Income protection is just as important as knowing when is the right time to buy – Rich Uncle EL

Chess is like money management, good strategies win the game. – Rich Uncle EL

 

What do you take away from these quotes? I feel they are all self-explanatory and I do not need to give you more in-depth info about them. I am looking forward to some new motivation coming from other blogs and websites that I will be sharing with all of you soon. Keep your eyes open.

 

Comment if you have a quote you would like to share?

 

Rich Uncle EL

 

 

The Money Mojo

The money mojo

What is the money mojo you ask? Well it is the point in your life when money is flowing like an open faucet. When you experience a day, a month, or maybe a year in this stage you will feel tempted to increase spending and ball out. If you are smart you could make your money work harder for you while in this stage. How do you ask? By continuing to live life as if you did not have a money mojo going on at the moment. Lifestyle inflation is something that creeps up on most people and spending takes over their lives. Many strategies can be utilized to assist you and will prevent wasting your money mojo and the future earning power of that mojo.

Continue reading The Money Mojo

Brands that I Love IV

Brands that I love IV

 

Hey friends it is that time again to share some good brand acknowledgement info for all of you. I do this so you can be a better consumer and shopper of the good brands and not the crummy ol’ nasty ones. Chime in any time you want and let us know if you like or dislike these brands and give reasons why. Some of these you have probably supported before and you probably have some cool memories with them as well. For example you’re first Mattel Race car or the first time you tasted a Chips Ahoy Cookie. (Good Memories I must admit)

Brands that I Love IV:

• Tissot Watches

• Lee Jeans (Not for everybody but durable)

• Nabisco

• Mazda (Fun to Drive)

• Mattel

• Archer Farms (Food)

• Vanguard

• Mr. Coffee (Budget based Small Appliances)

Folks this is my personal list of brands that I love. I support all of these companies, and will continue to talk positively about them for many years to come. For example my very first car was a Mazda and I have done a complete 360 and I once again own a Mazda car. This car better not let me down because I like the brand and I do not want things to change in the near future. So far it has been a pleasure to drive the car. Vanguard has been the best and easily the cheapest option to invest retirement funds into. They are always available on the phone if you have questions, they also provide a plethora of options for all your investing needs. If a fund has a .10 expense fee annually then that just means more returns in your pocket and less to pad the massive pockets of the CEO’s. If you were to leave a job and you had a 401K, if I were you I would immediately roll it over into a Vanguard IRA. It’s a no brainer in my book.

Archer Farms is a great all natural subsidiary brand from Target Inc. They have many regular staple items to fill your pantry from top to bottom. Some of the products are unique flavors that you would have never even thought of yourself to make. Try out the Archer Farms Blue chips with flax seeds at your next Party, excellent taste. Give them a shot the next time you’re in target and you will not be disappointed.  Mr. Coffee is a great brand because they provide budget priced coffee makers. These things can put money in your pocket; the average cup of coffee brewed in one of these will cost you maybe .20 cents. Now if you go to Dunkin Donuts or Starbucks every day then you will be paying 5X-7X that rate. It may take you a few times brewing it yourself to get the hang of how you like the flavor, plus you can add creamers to the mix to spice things up. Now that you have the premise of why I promote these brands, below you will see them again with the stock symbol if they are a public company. Invest at your own risk, ha ha.

Investing Details for the Brands:

Tissot Watches – Swatch Group Inc. (Swiss Stock -SIX)

Lee Jeans – VF Corp Company (Stock – VFC)

Nabisco – Mondelez Int. formerly Kraft foods (Stock –MDLZ)

Mazda – Mazda Corp. (ADR-MZDAF)

Mattel –Mattel Inc. (Stock-MAT)

Archer Farms – Target Brand Subsidiary

Vanguard – Mutual Fund Powerhouse

Mr. Coffee-  Jarden Consumer Solutions (Stock – JAH)

Comment if you are a fan of the brands that I love? Comment if you hate any of these brands?

All original content brought to you by,

 

Rich Uncle EL

 

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The Cycle of Expenses

The expenses pic

 

2011 Oxygen Sensor and Water Pump for Camry

2011 Tires for the Old Camry

2012 New Laptop

2012 New Mattress

2012 Brakes for Mini-Van

2013 Cell Phones for a new Provider

2013 Tires for the Mini Van

2013 What will the next thing be?

The expenses cycle never ends as many things need replacing and others are needed to save some dollars. The list above is a small breakdown of the things I needed to replace in the past 2 years that I can remember. Whenever I feel positive about saving some extra dough something almost always comes up. What is wrong with this picture? What can be done to eliminate the dreaded cycle with expenses affecting our lives? Maybe it helps to have a plan in place to cover the future needs and wants. As soon as I buy the tires for the minivan, should I begin to save for the next set of new tires in 2 years or is that considered going overboard. I will take the new purchase price of about $400 and divide that by 24 months, which gives me a monthly amount of about 17 dollars.

Should I have a replacement fund for everything in my life or is that going overboard as well? What if there isn’t enough money to cover all the replacement funds, on top of retirement funds, emergency funds, and college funds. What would somebody do then? Increase your income is my only answer.

It may seem like a lot of whining but there is something to ponder behind the madness going on in my head. If I eliminated a car and found a job where I can walk to work I will eliminate a lot of unnecessary expenses. I will also save on gas and insurance costs, but my time will take a major hit as commuting by foot takes added time. Maybe I can invest in a cool road bike to slash my walking commute by a third. Let me not get ahead of myself as I first I need to find a job in my town. Ha Ha

Sacrifice now for a better tomorrow is a way of life that needs to be taken seriously by people. A little here and there will not do much to improve your situation, but if you consistently apply this mentality you will win big later. Keep pouring on the focus to better all situations and you will be a part of the secret society, the one I just made up in my mind. LoL

How do you sacrifice to win big later? How do you handle the cycle of expenses?

I like to think optimistically in this life for the most part, but when things like the list above happen to strike unexpectedly I tend to say what in the F— is going on, out loud from time to time.

 

Comment if you have a good luck or bad luck in recent times with random unexpected expenses.

 

Rich Uncle EL

The New PF blogger Anthem

Check out this cool video by Macklemore called Thrift Shop, rapping about being frugal with money. This guy is hilarious and has a pretty cool catchy song that has 125+ million views on YouTube. I laughed out loud at least 3 times while watching and listening to this video. We all need artist to be real like this guy talking about being smart and not getting swindled by the luxurious clothing brands pimping t-shirts to younger persons for 50 dollars a pop. The clothes do not make the person, the person makes the clothes look good by rocking it with confidence and style. Also cars should not define who you are by impressing random people you will never get to know at a red light. Please listen to the video and take heed to what he is saying and trying to express.

The New PF Blogger Anthem:

 

 

 

Video by Macklemore ft Ryan Lewis: Thrift shop

 

I personally think this song is a great twist to the thousands of current songs who send a bad message to todays youth that spending on chains, cars, and watches is ok while you are broke. Most of the younger kids listening to these songs are just starting out in life and we actually need more songs spreading the truth about money. So if you are different from the normal person who thinks they need brands to help themselves feel better, share this with others to help them wake up. Every dollar you spend buying that 120 scarf goes to a CEO’s pocket and away from your retirement funds.

 

Tell me what you thought of the video and if you understood the overall message behind the song.

 

Rich Uncle EL

Chess is like Money Management

chess is like money management
Chess board I built!

 

Why do I feel chess is like money management and therefore can be compared to one another? Well for the most part I like the fact that I embrace both of these as a part of my life. I also believe that with practice the things you enjoy doing can be perfected every day. See below for my list, which helps solidify why chess and money management are very similar through my eyes and hopefully through yours as well:

Continue reading Chess is like Money Management

Quotes 5

Quotes 5

Hey Amigos it’s time for some great quotes to turn your Friday, into the most motivating day of the week. I hear quotes all the time from various sources and it is great because quotes just put things into a better perspective for me. The quotes in some way or another just make me stop and think how can I incorporate what I just heard in my life. Get inspired today and live better tomorrow.

Quotes 5:

  • Dedication comes easy to those persons who strive and yearn for more – Rich Uncle EL
  • When people get comfortable that’s when nothing begins and routines happen. – Rich Uncle EL
  • Trying times come with trying measures to keep persevering above all else – Rich Uncle EL
  • I pledge to devote myself towards my goals and cause in life. – Rich Uncle EL

 

What is the theme this week you might ask? The first quote states it with conviction, dedication is the objective here. We all seem to worry about this or that in this life, but if you truly want to achieve just ask yourself how dedicated are you to actually overcome. What may seem like a major obstacle for some might be a small hurdle for others. I tend to think that if people just give things a shot then they have the first ingredient for dedication to begin. Excuses are a crutch that people hold on too and use it way too often. Why use excuses when you can just do what needs to be done. The last quote is personal because I feel that everybody has the will to do great things, I feel it every day.

 

Comment to let all of us know if you have an original quote you want to share or how you felt about the quotes above.

 

Rich Uncle EL