Personal Finance Archives - Page 15 of 21

Strive for More

Hey friends thank you for stopping by and giving me some free time to motivate your life. The theme this week is how we all can strive for more. Yes I know after reading Facebook and Instagram for 10 minutes everybody and their mothers (Yes really people’s mothers) are reposting quotes about how good they are doing. But are people really doing as good as they say or are they exaggerating. Nobody knows and I do not care, the message that I want to send to you guys today is that we all should continually strive for more. How can you actually do it and stop talking like you guys hustle from day to night. Well that is a whole other post in the making and please stay tuned.

Below you will find my quotes on getting you to strive for more in effective yet simple ways. Granted I take this stuff seriously because I am constantly looking and thinking of ways to improve. The areas of life that are important and we all can take focus to those parts of life listed below.

Strive for More areas of your life:

Career

Family – All Relationships

Health

Appearance

Skills

Leadership – Mentor / Coach

Strive for More Quotes:

Constant Optimization is another way to say you strive for perfection – Rich Uncle EL

Please keep all bragging talk below the level of your success – Rich Uncle EL

They say money doesn’t grow on trees, then what do you call compound interest – Rich Uncle EL

When change happens naturally, then you evolve naturally – Rich Uncle EL

Self-Control is important to change bad habits – Rich Uncle EL

These are the quotes that I want you to read in order to figure out what areas of your life you can strive for more. Think for a second which areas of your life you need to improve upon? Then make a list of the things you need to do to make things 100% better. After doing this exercise a few times I noticed we all have the answers on what we need, we just have to put them to action.

The first quote’s meaning is just as it is expressed with no filter. The second quote is basically about many people talking the talk but not really walking the walk. I feel if you are going to talk then take steps to do something for yourselves, and not just to fake the funk. The third quote is basically explains if you invest your money it begins working for you by compounding and it will strive for more every day. The secret is to actually begin investing. The 4^th quote is by far the best because if you are constantly striving for more than you are constantly improving. When you are stuck in a routine it feels like the wheels are spinning and you are not moving forward. The 5th quote is about looking deep inside of yourself and changing those things that constantly bring you down.

Comment if you enjoyed the quotes above and if you strive for more?

Rich Uncle EL

What is the Most you made in a Day

Did you ever think back and calculate what is the most you made in a day? Silly things like this can make financial matters into a fun game. Take a second and think back to what day in your whole life when you raked in the most dollars. Obviously this project will exclude windfalls like, sale of a home, inheritances, insurance payouts, and lottery winnings. Also regularly scheduled paychecks and bonus money do not count because it is usually divided into a specific time frame, thus not qualifying for a daily amount. In addition to the exclusions above also add in tax return money.

This game is only calculated by what you earned from working your blood sweat and tears to the ground. It can consist of 1, 2, or 3+ jobs or side hustles. If for example you made 3k in a week then you can take that amount and divide it by the number of work days to give you a daily figure.

It could have occurred in the year 1999 or 2013, the point I want to communicate with all of you is to remember that fun day and try to replicate or top the massive amount of dollar bills you placed in your pocket. If you set goals you will eventually exceed them, so this project will keep the big amount fresh in your mind and you will hopefully look to top it everyday from now on. Maybe next time we can touch on; What is the most you ever made in a week or month or year. Now after this post I will keep a eye on all the income sources to try and top this figure. See below for my figure.

What is the Most you made in a Day:

– 580 is the most I’ve made

I hope you can find the objective of this money exercise because we all can get motivation by this type of game. My figure consists of my day job money, sale of a sneaker, and a part-time job. Just imagine making that every work day. I took out my handy little calculator and that is about 11K a month or 140K a year. That is some serious paper right there. I have a little sense of what type of money big wig executives make. Guys you can also include any dividends or interest money you made in the stock market. Maybe at the end of December I can calculate my daily money average I made for 2013. I am hoping my website can get me some good side income to push my average up. I know some of you are going to share some fun and exciting amounts, especially all the night owls who do not sleep to make those dollars.

When you hustle you will reap great results – Rich Uncle EL

Comment on what is the most you made in a day?

Rich Uncle EL

Starting an Investment Club

Hey readers would you be open to starting an investment club with 15 people or would you be scared and run for the hills? Investments clubs have been around for a long time and it is primarily done to pool together assets to build the assets faster and in an intelligent manner. How can you say smarter because nobody actually wins in the game of the stock market? Well for starters if you are in an investment club, the members tend to have talks at least once a month to discuss the pros and cons of possible future investments the club will make. I think when people sit down and discuss finances in a responsible manner and make educated decisions then it all contributes to making better financial decisions.

Now to tackle the faster part of the process, if you have 15 people contributing 50 dollars a month for a year the sum total after 1 year is $9,000 of investable dollars being put to work for the club. Do this for 10 years with compound interest and the club will have upwards of 120 thousand dollars of compounding power every day. Little pennies turn into big quarters which turn into huge dollars. How long will it take you to save up 120K by yourself?

The one negative I see with this opportunity is at what point can members start to see the rewards of their invested dollars? If every member starts to take distributions from the club then the fund will not grow unless there is a plan in place to continue to contribute either new money or a portion of the distributions. For example if every member is owed 100 dollars a month for interest payments, maybe 15% can be held before releasing the money in order to grow the fund. Because if you equally distribute all the profits of the fund the fund will stay stagnate and will not increase to keep up with inflation plus the purchasing power of money. Getting everyone to agree on investing opportunities might be a difficult task as well. But the point of the investment club is to invest mutually to pool resources together in order to reap plenty of rewards at some point. After 10 years each member has equally invested about 6 thousand dollars towards the club. So I imagine people would want a good return on their money.

I see many positives with doing an investment club, but one that really sticks out is the availability of online tools (A Couple mentioned below). In addition to that you can also find bookkeeping software for investment clubs. These two tools will provide a ton of great information in order for the club to succeed. On one hand the club will get investment advice and analysis very easily, and on the other the club will handle the books for accounting purposes very easy. If things are automated then it makes life that much simpler for the group.

Typical Investment Club Structure:

President – Signing Authority for all Transactions / Investment Advice / Leads the Meetings

Vice President – Secondary Authority-Fill in for President / Finds Meeting Location

Treasurer – Maintains the Books / Signing Authority

Secretary – Communicates all Information to all Members

Tax Advisor – Handles the Tax implications for the Club

Financial Advisor – Monitors the Investment Markets to Find Deals

Resources:

http://en.wikipedia.org/wiki/Investment_club

http://www.fool.com/InvestmentClub/InvestmentClub05.htm

Join an Investing Club Association:

http://www.betterinvesting.org/public/default.htm ($ 84 Dollars Annually Fee)

Investing Advice Website:

http://www.dividend.com/ (169 Dollars Annually Fee)

This is the information you will need to start an Investment club.

Comment if you are a part of a club like this or if you will ever consider starting an investment club?

Rich Uncle EL

How I Save Money by Running

Running Helps me Maintain my Health

Running Helps me Keep my Energy Up

Running Helps me Eat Better

Running Helps me Save $$ on Utilities

Running Helps me Avoid Shopping Malls

Hello guys this is a fun light hearted post today. Questions are in your head right now about how in the heck can I say that I save money by running? The 5 reasons above clearly make complete sense in my mind and is the definitive answer to the previous question. Now all I have to do is convince all of you that you can do the same as well. I will attempt to do so during the 600 words contained within this post, but ultimately it is on you to get out and run while you still can. Do you ever think about how much time you will have before you start to hear the bone cracking and popping in your knees and hips?

I do not want this to happen to me so I stay active. If you do not have that much time or you have a million excuses then that’s your choice. My advice will always be to make time in you’re schedule. Because we as humans were made to be active. Please read that again as it sums up the whole underlying meaning. The cave men could never take a day off from hunting because they would starve. Nothing gets you moving more than an empty stomach. Now we have the convenience of supermarkets so it makes even more sense to work out or run more often. Why do I say that because the food is nicely prepared for the picking no real effort is placed on us to get food like in the past.

What can you to be more active? Take ten minutes while at work and go up and down a few stairs. After sitting 8 hours at a desk will you do your body justice and take at least 45 minutes to run. During lunch take a good long stroll around a local park. I think if you do, your body and your wallet will thank you. See below for my personal reasons why I save $$ by running and being active at least 3 times a week.

How I Save Money By Running:

If you run then you will maintain a good and healthy body. This will help you avoid the doctor which is eagerly waiting to prescribe you some medication due to lack of exercise. Dollars Saved by avoiding pills. $$
If you run then your energy level increases, thus allowing you to do other things that you might pay others to do: Walking the dog, The Laundry, Cleaning the House, Cooking instead of Eating Out. $$
If you run you will hopefully make more of a conscience effort to eat better. It’s not about eating the biggest meal. Practice Portion Control. Why because your stomach expands. Be aware of food limits. $$
If you run you will save on Utilities because you will be out of the house: Lights off, TV off, Computer off, Heating or Cooling Appliances off = $$$ saved.
If you run then you will avoid the shopping malls- 1. Because you will be too tired after a good jog. 2. People who are bored go shopping, running eradicates the boredom.

These are all the reasons why I save money by being a runner. If you do not enjoy running then you can just fill in the running part with the many other forms of fun activities you can do in this life. Get a move on as soon as possible. The only real cost to you is, a good pair of sneakers-New Balance, a cold or warm running outfit-Champion Women’s Woven Sport Short,Black/White,Small, and a hydration bottle.

I want to be selfish with my body because one day I will not be able to run so why not do it now. Time is ticking my friends and the flexible bones and joints will not stay loose forever.

I am a runner because I want to be active, all the money I am saving is a bonus – Rich Uncle EL

Comment if you save money by running or if you do something else to stay active.

Rich Uncle EL

Lead by Example Quotes

What’s going on this Friday? I hope it is a pay-day Friday for you. How can you lead by example every day? By sticking to your values and morals and completing goals on a consistent basis. I think the theme this week for my all original quotes, will be based on being a good leader. When you lead by example you do so much for yourself and others. I am ready for this weekend as the past few days have been a drag.(Work is slow) I wonder what fun things you guys have planned this weekend? I have to fit in visiting my folks, some writing, a work out, playing basketball, and a kid’s birthday party. Now it’s time for some great quotes.

Lead by Example Quotes:

– Respect could be bought in life, but I rather earn it for free – Rich Uncle EL

– Failure is not the last option we have; it is a step towards the next chapter – Rich Uncle EL

– When leaders look in the mirror, they see much more than a reflection – Rich Uncle EL

– The time will come when you must decide if you will lead or follow – Rich Uncle EL

I feel we all can lead by example by making smart decisions and influencing others who look to you for inspiration. Also if you happen to be in the learning stage it’s ok to follow for some time until you can gain enough experience to lead. The road to success can be shortened in anything you want to do if you find a good leader to show you the ropes. I hope you can find the message I am trying to convey with the quotes above. ( It can be summed up right here – Leaders Inspire Others)

Comment if you have a story of when you lead by example or if you want to give a great leader a shout out.

Rich Uncle EL

The pic above is one of the greatest leaders of all time. Abe Lincoln

The Purposeful Quotes

I see the opportunity that quotes can give all of us because they can mean a lot more than you actually meant to say. I know I have been motivated by some quotes because I now write three quotes every other week for this site. If just one person gets inspired then I have done my job right by serving all of you with free content.

The theme this week is finding the purpose for life. I will not hesitate to tell someone to find their purpose sooner than later because after that point life makes extreme sense.

The Purposeful Quotes:

– Life can be a blessing, when the direction is planned and a purpose is stated – Rich Uncle EL

– I appreciate my life along the way and I still continue to strive for more – Rich Uncle EL

– When you can see the big picture of your life, everything just falls into place – Rich Uncle EL

If some of you find my talk about finding the purpose of life as over kill because I have written about this a few times before. I feel a sense of urgency, as it an important subject matter in this time for the mere fact that so many people are lost and do not have a simple clue what to do with their lives. If you can sit down and think for a half hour per day and about what makes you happy the answer will soon follow. The hardest part is applying what you love with making an income off it. I love basketball, but playing is a free hobby and coaching it will not pay the bills, unless you reach NBA status. It will take some time and dedication to finally implement the work you love into a steady stream of income. Anything is possible with enough strive, dedication and support from others so do not give up.

Maybe the purpose for your life might not find you until you are 40+ years old, but thinking about it now in your 20s and 30s does not hurt you at all. In contrast it will make you more aware of what your inner self wants.

Comment if you find value in the purposeful quotes?

Rich Uncle EL

When Life gives you Lemons – Plant a Tree

This is a way of life for me as I take all my life lessons and use them to propel me to achieve success by the experiences of life. I record things as a reminder of what I was feeling at the time and how those things affected me during specific time frames. The title above states the obvious with what you can do to make a bad situation into a good one when it comes to life, money, or career issues. We all tend to learn from our mistakes, even if some were caused by us or if it was something that occurred out of our control.

The issue many people face is that they tend to block mistakes from memory to avoid repeating them, they forget the mistakes and eventually it is sadly repeated. When life gives you lemons, plant a tree I say. What I really mean to express is to make the best of all situations. You got whole life insurance and paid 3 years of expensive premiums for nothing in return. Learn from that situation and get term life insurance going forward.

Many will get the message that I am trying to convey here in this post, but the real underlining question is how many will act on it. I am destined to see a time when we make a mistake or take a step back, that people will do something to remember that situation. Why because you will be a better person when you remember your mistakes. Also you will most likely not fall for the same mistake again. This can be applied to any area of life; I tend to focus mine on financial mistakes and successes. Why you may be thinking? Because I want to be a personal financial expert.

This mantra is best utilized by recognizing the problem and not repeating it, but using it toward a specific advantage for the future. Did you get burned by a bad stock that went bankrupt? Well keep a better eye on your investments going forward. Also set up a stock price reminder, that if stock prices drop below what you paid for it, the broker can send you an emergency email. Thinking of ways to financially strategize can make you feel more at ease with taking risks. The best thing you can do is to plant yourself a money tree (aka investment account) it will pay you compound interest year after year.

Comment if when life gives you lemons – plant a tree life strategy?

Rich Uncle EL

Memorial Day Weekend Frugal Activities

Hello friends it’s memorial day weekend finally. This spring weather has been the worse that I have seen in a long time. It’s been rainy and cold all the way up until now in the Northeast area. How has it been in your neck of the woods? I am definitely looking forward to better weather going forward and why not since the beaches are now finally open.

I wanted to share with you guys a few Memorial day weekend frugal activities you can do this weekend and for the many other weekends going forward. Summer time should be a fun time for people to get out and connect with others, so put those cell phones down once in a while. I crack up when I go somewhere and people are sitting having lunch together and staring at their cell phones. I have also seen when I go to the park, two people walking side by side and they are both using cell phones. If they are not checking a love note from an old flame then I do not see the point. Hopefully you’re not one of those people.

Memorial Day Weekend Frugal Activities:

– Itching to see a movie- Hit up matinees
– Need some new clothes- Search online for 30-40% off retail deals.
– Footwear looking stale- Search for bogo deals in your area.
– Going on date- Have a picnic and Pack fruit with champagne.
– Feeling stressed- Go to Groupon, Google offers, Amazon offers for first time deals on Massages.
– Need more retail therapy- Search for old gift cards you can finally use.
– Feeling lonely- Call up some friends /family members and host a potluck dinner.
– Feeling tired of TV- Set aside 30 min everyday this weekend to run or workout.

These are a few fun frugal ideas you can do this weekend. Sometimes you can just have fun by spending under $50 bucks doing the activities above and avoid spending 200 dollars at a bar.

Comment on what you think of the Memorial Day Weekend Frugal Activities?

Rich Uncle EL