Savings Archives - Page 4 of 6

The Savings Quotes

What does it mean to be able to save consistently every month? It means you are effectively earning more than you spend. It means you are watching your dollars. It means you are mature enough not to spend every last penny, then blame it on others, a low paying job, or the government. I am focused on quotes about saving money this week, as you can clearly see from the title. The Savings quotes will hopefully give you extra motivation to stash some cash immediately.

Let me know if you can relate a bit with the Quotes below. They all might represent something within you that you already do or maybe would like to begin to implement in your financial life.

The Savings Quotes:
Hoarding is viewed as a negative thing, but to hoard money, now that is genius. – Rich Uncle EL
Savings should be placed above anything else, even those pesky things called bills. – Rich Uncle EL
When you protect your cash flow, than life is a piece of cake. – Rich Uncle EL
If you build savings year after year, then freedom is bound to hit your doorstep – Rich Uncle EL

Hoarding is viewed as a crazy bad condition in a reality show because when you stack a few thousand newspapers in your living room you are going against the norm. That is a psychological definition of scarcity as thus folks feel that they will never have enough. If that is the case then something truly is off because you are filling up your entire house with junk.

On the flip side hoarding money is good because you are exercising your savings muscle. Doing so will eventually assist you in the future. What I am referring to in the quote is someone looking to build a nest egg up from a smaller level of savings. Not a multimillionaire who cant seem to share or spend his money hoard. Their is a big difference in someone looking to secure financial freedom and someone who has millions already and is afraid to spend out of fear.

Help me find someone who has regretted stashing a million dollars for freedom of the 9 to 5. I still have yet to find such a person because a regret like that doesn’t exist. So keep hoarding dollars my friends, but never forget to share it on occasion on your wants, with friends and family, and with charities.

The other three quotes are phrases you probably read many times before and I hope you are taking the basic money management advice seriously. Nothing is far out of reach when you realize that your actions dictate where your money goes. All the calculations, formulas, math, and equations in the world cannot help you be better with money. A simple look in the mirror and getting emotions in check is all you need.

The Best Advice on How to Save Money Right Now:

Saving Money Tactics

Ten tips to save Dollars – BankRate

Words were invented to communicate how you feel so please leave feedback below.

Comment if you agree or disagree with the savings quotes above.

Rich Uncle EL

Investing When the Markets are High?

If you are investing when the markets are high you could be setting yourself up for major losses in the future. Many people think backwards when it comes to investing, they buy when stocks are going up instead they should be buying when stocks are crashing. Reason I say this is because the facts do not lie, when things are going good in the markets, people want to ride the roller coaster and get some easy profits. Billions and Millions of new investment money is thrown into the markets when things are going good, and when things are gloomy in the markets people run for the hills.

But if you think about it in its simplest form, would you buy milk for $7 dollars because you noticed the price going up? The answer is no because milk usually costs $3.49 a gallon so why would you pay double for the price for milk? Unless there is a shortage of milk nobody should ever consider paying more for it, and the same should go for stocks. Three years ago Verizon stock was listed for around $30 dollars a share and now it is steadily close to $52. I personally prefer to pay the $30 dollar per share price, what about you? Not only do you risk buying at the high point only to see capital most likely drop, your yield will be less if it is a dividend paying stock.

OK now that we got that out-of-the-way and you fully understand when people should be buying. What do you buy when the markets are high? The options are index funds, ETF’s, REIT’s, bond funds, and stocks that are trading in the lower range of the 52 week moving average. As of right now the picking might be slim, but the deals are out there. How can you find these investments? Look in Google Finance, Morningstar, or CNN Money. These sites offer a ton of financial information on where to place your money when things are bullish. But I am going to give you some examples of where I would put my money when the markets are high.

Investing When the Markets are High:

SDIV – ETF

GOV – REIT

GE – Stock

Pimco Bond Family – Bond Funds

These choices are either priced relatively low or not affected as much price wise by the recent bull run. For example GE back before the major recession was trading between $40-50 dollars a share. As of this posting the stock is currently trading at 21 dollars a share. The stock still has a long way to go to even come close to trading at those high levels. REIT’s are always a good buy because they pay such a high dividend yield, this particular investment is still trading in the 20 dollar range, compared to some of its competitors who are over $45 dollars a share. The Pimco bond funds have ticked up a bit in price since 2010, but not as crazy as the blue chip mutual funds, you can safely park your money in those bond funds and wait to see if the market corrects itself, (aka crashes) then at that point you will move back into equities.

Did you expect me to list Bit Coins, gold or maybe Greek debt above? I hope not, because those types of speculations are for the birds. When it’s all said and done you can always just save it in an online account and have the cash ready to strike when the next market crash hits.

Comment if you have a favorite stock, bond, ETF, REIT, or Mutual fund you invest in when the markets are high.

Rich Uncle EL

2012 Financial Milestones

Hello I wanted to share with you some milestones I was able to reach in 2012. I want to make this post personal without being to revealing with actual figures. I hope I can pull it off and at the same time make it interesting. What I did matters to me so that I can see where I am headed in the New Year. I am ready to attack this New Year with a vengeance, allowing me to be one step closer to reaching retirement. Now I want all the bloggers who happen to read this to take a look at the milestones below and make a similar post on your website as a challenge. I have a feeling that 2013 will be a great year. If you push yourself for something greater you will almost always accomplish more than your thought you would.

Continue reading 2012 Financial Milestones

Millionaires

Hey did you know that many millionaires in the United States hold positions as executives / managers or teachers? Survey results show that about 35% of millionaires obtained their wealth working for these two professions. These lucky millionaires didn’t invent the IPAD or the post it or the PC. The majority of these millionaires lived frugally and saved a large portion of their income. The survey results are featured in the millionaire corner blog article listed in the link below. The average time frame that those millionaires achieved this status is 17 years, maybe give or take a few years as results like these are skewed.

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Top Ten Reasons not to Save Money

Hey today we have a light-hearted post for you guys. I am going to share the Top ten reasons why you should not save money ever. If you agree then you are facing one of these things below or thinking about one of these ten reasons, but if you disagree then you are a fan of the savings mantra. I think from time to time it is fun to joke around a bit.

Continue reading Top Ten Reasons not to Save Money

The Ups and Downs of Life

This idea just came to me like a bolt of lightning and I thought why not talk about some of the good things and bad things that have taken place in life throughout the years. I tend to remember only the major things that have happened to me as a normal person should, and why not share them with all of you as a way to reveal a little more about myself. I will attempt to keep things in a financial aspect, but I might sneak in a few that are not about money.

Life does not revolve around money, but this website is based on perfecting good money management behaviors. So I will list both life goals and money goals.

The Ups of Life and Money:

1. I graduated from 2 Universities – Bachelor’s / Master’s Degrees in Hand.

2. The day I received my Toastmaster’s Competent Communicator for completing 10 speeches.

3. My first non spam approved comment on my blog. (Whoo Hoo)

4. Holding the free and clear title for my cars, thus having them paid for. (Three times)

5. Finally achieving credit card Debt Free Status. (Peace Out Chase and Citi)

The Downs of Life and Money:

1. School Loan Debt for my Master’s

2. Not Investing enough in the 2008 – 2009 market crash. (Could have made a killing)

3. Buying an overpriced gas guzzler for 32K when my income was only 45K.

4. Not finding Dave Ramsey / PF Blog World sooner.

5. Accumulating a bunch of useless stuff. (Wasting income on nothing)

OK I had to think a bit about the downs in life as it is always harder to remember bad things. I tend to sway on the optimistic side of life. Do you always think about the good things or bad things? By doing this you guys now have a greater sense of who I am and what I have accomplished to a small degree. I hope to keep adding to the ups in life in the near future but wish to avoid all the downs.

I wish we all could eliminate or avoid the downs in life, but it makes us in someway better individuals as it builds up character. After a down event you come out stronger in overcoming obstacles in life. Do you agree? Also sometimes a down event leads to a major up event in life. For example rags to riches stories of somebody getting laid off and then starting a crazy money making business. I have read a few of those over the years.

Have you recently gotten over a down event in your life? I hope you get motivated to make your own ups and downs list. If I can recall any more ups and downs later I will do a part two to this post.

Stay safe everybody in the East Coast as a major storm is headed into my neck of the woods.

Rich Uncle EL

Pic credited to Jay Fine.

Save 30% for Retirement

If you are one of the lucky few who can save a large portion of your income applaud yourself, because it is a great opportunity for you to set yourself up for the future. But many of you are thinking how can anybody save that much with all the numerous bills in our lives? I have known personally a few people who actually save 30% for retirement and still been able to live life happily. Granted their situation might have been better than the average person and it might take you a while to inch up to that savings level, but believe me you can do it to.

Listed the below are the reasons I feel individuals with certain money scenarios can manage to save 30% or more for retirement or emergency savings. See below for a list of examples how one can save 30% for retirement.

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Investment Options

What would you do given the many options to invest? Would you go all out and just take a risk with the highest yield or would you play it safe with a CD. Either way you are doing an awesome job if you take the plunge and use all the investment options available now instead of all those live by the moment soon to broke people. HA HA. I want to illustrate without drawing, the different kind of options we all have to invest our hard earned dollars, unless you are one of the fortunate ones to get an inheritance aka Free money. What options you ask?

Continue reading Investment Options