Mylife101 Archives - MoneyWatch101

In Life There are no Shortcuts

In life there are no short cuts and you have to understand this in order to pursue the life you want. What drives you in life? IS it to travel the world? IS it to have luxurious things? OR maybe it is to attain a business one day. Whatever it may be, it takes sacrifice and dedication to achieve all of those probable dreams. You cannot reach the finish line in 1^st place without first putting in the work. Same applies to life; you can’t expect a free retirement without saving for it. Just like you can’t magically whip up a brand new Lexus without thinking how you will be able to afford it. That’s why I want to stress in life there are no shortcuts. Unless you just want to get by doling the minimum.

In life everything has a cost associated to it whether an action or non-action is taken. The fancy car that might bring you joy today will probably set you back 14 thousand dollars a year for 5 years. (70,000+ dollars less for retirement all due to a luxurious transportation choice) Because of this 1 choice you now have to work for 4 extra years and in the process delaying the trip around the world you desired to take.

Now I’m not knocking car purchases, but it is a simple example to illustrate why you must not take short cuts and realize the choices you make have consequences. I bet you can find examples of those choices in life which will set you back or push you forward every day. Like for example the daily $10 dollar lottery habit, that if saved may potentially turn into a 200 thousand dollar portfolio at age 59. What is the cost trade off for mistakes we make? It is a big cost and it will only hurt you in the future.

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Why is Time Important

Time is of the essence since the day we are born. But many people do not understand this because when we are young, time feels limitless and abundant. Summers felt like a year and a school year felt like two years. The math quiz felt like 4 hours when in reality it was only 20 minutes. Time in the old days just took its sweet time. Is it a mix of young innocence and more patience, or was it really a slower paced life in the old days. No one really knows and you shouldn’t care, because the past is the past. Why is time important today, because we all need to grab time and use it wisely.

I lost my mom last week and it has been hard on me. I wish I would’ve spent more time with her and talked more. That feeling when you know you will never speak to a loved one again is tougher than I ever imagined. This is why time is important. The opportunity to not waste time is evident every day of our lives. It is right in our face, but what do we do, we just don’t realize that it could be slipping away minute by minute.

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Giving Money is Gratitude Multiplied by Happiness

Did you know that giving away money leaves you feeling great? It means that you can securely give without feeling a sense of fear or lacking in your money life. The one secret that many people don’t understand is that giving unselfishly only comes when you can build a financial foundation for yourself. Granted anyone can give at any moment in time or even if you’re not fully prepared to give, but it makes sense to give when you have your life in order. Having an emergency fund, consistently investing towards the future, not living paycheck to paycheck all of these things will allow you to give generously when the time is right. If you can support a good charity or organization it will leave you feeling a sense of contentment. The truth is giving money is gratitude multiplied by happiness in my opinion. It is how I feel when I give and how you should feel too.

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Why I’m not Buying Sneakers In 2016

As many of you know I am a sneaker fanatic. But I am coming to a realization that I need to reign in my expenses and I already have sufficient kicks to last me a decade. So in this new year I will not buy sneakers for 12 months. All year long I will not buy any sneakers for personal use. If I can find a good deal that I can later sell for a profit then I might buy something to resell. But I will only consider any sneaker purchase if and only if it makes business sense. (To buy and flip only) Why I’m not buying sneakers in 2016? Keep reading to find out why.

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Never Trade Freedom for Debt

Hello readers its that time to discuss again the trap that people place themselves in every time they sign a new contract involving debt. When you stop and think about past choices it really is simple, try to do your best to never borrow again unless you want to live indebted forever. Just the other day I read a blog post by Derek over at lifeandmyfinances and he is now living life completely debt free for over a year now. He is an inspiration and an example of a life we all should try to realize 1 day. I believe it’s necessary for my sanity to never trade freedom for debt.

Granted it might feel like a never ending battle in this modern society with a constant emphasis on living with payments and debt. I will tell you that it can be done and to never ever have a defeatist attitude towards your financial insecurities. When you expect failure from the beginning, I guess the path towards reaching prosperity will not be possible. Getting into debt was a choice way back in a moment in time, so why can’t the choice today be made to reverse those bad actions. By not conforming to the norm you will elevate yourself to a term many people don’t use today.(Financially Responsible)

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MLK Day and Contentment

MLK day and contentment

As I think back when I was a young boy all the memories come back at random occasions, and a flashback is replaying itself in real time. Have you ever had one of these moments when you look back as if you had a Delorean that actually went back in time. The memories are the only thing we really need to recreate the past. On this special day we celebrate Martin Luther King Day and how content we all should really be. Could we improve every year of course, but at times let’s appreciate the present and how far we’ve come. Today is MLK day and contentment is something not spoken about often enough.

Every year I think about my dreams and how as a kid on this special day we were told stories about a man who wanted more for our society regarding equality. The we have a dream speech was replayed every year since I can remember and it has evolved every year. We all can and should do more to uplift one another in a positive way. Also we need more realistic communications about how to live life in a financially responsible manner. This is a personal finance site so I will now steer the topic back to finances and to make the final point.

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The Last 300 Hundred Dollars Christmas Edition

Hello Readers we are doing another rendition of the the last hundred dollars I’ve spent recently, but this time it will be a Christmas edition. We are upping the amount to $300 dollars because $100 is just to small of an amount for Christmas. Imagine if you only had a hundred dollars to your name, what would you spend it on? Granted if you were down to the last hundo, I bet you will save some of it for food or maybe all of it lol. We gots to eat to live! The Last 300 Hundred Dollars Christmas Edition has been a fun ride. that I’m happy to share with all of you.

The last 300 hundred dollars Christmas edition is a way to lighten up the financial blog space with something unique. Yeah I could give you a bunch of spreadsheets showing my monthly net worth, but that’s been done a thousand times over. As of right now I still don’t feel 100% showing you guys all my pennies and cents, but with these posts you get a sneak peak at some random expenses. See below for the fun.

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How Do I Define Success

When this idea entered my mind I was traveling about 35 miles per hour on a side street going home. Why did this idea all of a sudden enter my consciousness? If I could answer where creativity comes from and possibly how such inspirations come about, maybe I can give all of you a definitive explanation. But for now I will take it as a sign to just keep on plugging away trying to find my own success and or happiness around this personal finance journey intertwined with this PF blog. How do I define success? Keep reading below to find out and maybe confirm if you agree with the definition of success.

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