Posted in Pursuit of Excellence

November 23, 2016

https://www.entrepreneur.com/article/284566

“It ain’t about how hard you’re hit, it’s about how you can get hit and keep moving forward. How much you can take and keep moving forward. Get up!” Sounds like wise words spoken by a billionaire business mogul, right? Actually, it’s a quote from Rocky Balboa, the gritty, tough-as-nails boxer portrayed by actor Sylvester Stallone in seven Rocky movies. The movie is a good example of passion, hard work, and determination. Daymond John’s book The Power of Broke: How Empty Pockets, a Tight Budget, and a Hunger for Success Can Become Your Greatest Competitive Advantage references Rocky Balboa as a good inspiration as a business owner. Having desire and desperation is a competitive edge that causes creative and efficient thinking. “The same goes in business,” John writes. “When you want it, when you need it, you find a way to make good things happen. When you expect it, when you feel entitled to it, you might be headed for an ass-whupping.” Being in business isn’t just the numbers, and the product, it is at its core about the business owner. It’s about your emotional intelligence and the strength of your spirit. Life will hit you hard, but if you have a strong spirit, and understand what it takes to rebuild and learn from your mistakes, you will succeed.


http://www.marketwatch.com/story/5-ways-to-make-your-kids-smarter-about-money-2016-11-16

It is crucial that your child has an idea of personal finance at a young age. You want them to grow up knowing how to pay their bills and understanding what it means to be in debt. Here are five ways you can teach your child about personal finance that can also be fun and memorable. The five ways are: take them grocery shopping, invite them to help organize your receipts, set a short-term savings goal, give them rewards instead of allowances, and have a discussion. When you go grocery, shopping sit down with your child and explain how much you are looking to spend and have them help you coupon clip. Make a goal for a specific dollar amount and have them go with you and help you find each item and stay within budget. After shopping have your child sit with you to organize each receipt and go over the items. Doing this process will show your child how expensive things are and at the same time show how much taxes can affect how much you spend. Sitting down with your child to set up a short-term savings goal and a “savings jar” or savings account will help them save to reach goals. I suggest looking at savings account online to show the different interest rates that competing banks will offer to get your business. If your pre-teen child doesn’t have a job instead of doing an allowance, set up a rewards allowance. Doing household chores for an allowance is preparation for a job, and shows that with work there is a result. It’ll help them develop and at the same time appreciate work instead of expecting to be taken care of. Finally having open discussions about what your child wants financially is important. I suggest to take it one step further and talk about issues over the dinner table. Let these types of discussions be as common as talking about your day. Talk about both the good and the bad, and what you plan to do next. Communication is the most important piece of not just a healthy business, work environment, but a family also.

If you need are interested in creating a budget, then contact me for a financial checkup in the contact me section.

For this week, I’ve included Michael Jordan’s Top 10 Rules For Success from Evan Carmichael’s YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.” Proverbs 28:26 MSG‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Posted in Pursuit of Excellence

November 9, 2016

http://www.investopedia.com/advisor-network/articles/110316/7-ways-grow-your-account-balances/

One of the common top concerns that I hear from individuals is how they’re not able to save. A consistent savings plan helps you build a solid financial foundation. But where do you begin? Here are seven ways to help you grow your account balances. Your strategy starts with your spending plan. (For more, see: 3 Smart Ways to Update Your Investment Plan.) The seven ways are: create a budget, set up a savings plan, considering opening a CD, consider opening an online FDIC-insured savings account, maximize your contributions, consolidate your retirement accounts, and invest early and often. I believe creating a budget is the first and most important step in not just saving money, but money management period. How do you know how much you can save when you don’t know how much you have after all your bills are paid? Your budget should have enough room to save money. There are four steps in my process, and if you’d like to learn about it, you can reach me at the contact me section. The author states that a savings plan should include three to six months of expenses. In my opinion, you should set aside income instead of expenses. The reason is you are more likely to earn more than you spend. Setting aside three or six months’ worth of income will create an additional buffer for unforeseen large expenses. A CD will give you a higher yield vs your savings account, but it will often require a higher amount to open. In regards to savings accounts, your online savings accounts will have a higher annual percentage yield (APY) vs a standard savings account you’d get at your local bank. Personally, I use Ally Bank, but I recommend you use websites such as www.nerdwallet.com or www.bankrate.com to check your rates. Three ways you can maximize your 401K is by maximizing your contributions, consolidating retirement accounts if you’ve moved between jobs, and finally to invest as often as you can early in life. In my opinion, you should invest enough to ensure that your company is matching your contribution. Be sure to check with your HR department to find out how high they will match your contribution. I recommend that you increase your financial knowledge to invest in not just paper assets, but in assets that will produce income. One day you will retire, and it’s better to have multiple streams of income.


https://www.entrepreneur.com/article/278848

Nearly all marketers agree on the importance of social media marketing for business growth. And considering that 33 percent of millennials today say social media is one of their preferred channels for communicating with businesses, I expect it will become even more important over time. That said, a lot of brands still don’t know how to use social media to engage audiences and help their own bottom line. There is, however, a right — and wrong — way businesses can share their content on social media. Since there is a lot of valuable content in this article there will be a lot of quotes, and I highly recommend that you read this article. The right way is having a business share its content on the platforms where its target audience spends the most time. The author recommends that the business do research into the demographics of different platforms. It’s best to have two focused social accounts to build your business vs. having multiple unused accounts. Even if you have the same end-goal for your content across social media, you should optimize it for each platform’s characteristics and strengths. For example: Videos tend to outperform images on Facebook. Twitter posts, while no more than 140 characters, should be even shorter if you’re including an image. (Luckily, that should be changing soon.) LinkedIn doesn’t support hashtags, so don’t use them. For Twitter and Instagram, hashtags are a necessity. Using visuals can help when you post on any platform, so be sure to use imagery. The author does also state that it is wrong to not vary your content. With the rise of paid social options, it’s no surprise that organic reach has become more difficult for brands. But you can still get the most out of your organic posts by sharing them at optimum times, which tend to vary by platform. Finally, the wrong thing to do when using social media is to spam newsfeeds. Keep in mind having an online presence doesn’t give you a presence in just your local community, with the right infrastructure you could have a global presence. Think differently, and think how you can create an income producing asset. Think about how to increase cash flow, and how to preserve assets. Always keep in mind wealth is a measure of how long your riches will last you. If your income from your assets is greater than your expenses, then you can quit your job and retire rich.

If you need a financial checkup you can reach me in the contact me section.

For this week, I’ve included How to be successful – the success cycle (Tony Robbins) from The Internet Marketer YouTube channel.

“If you think you know it all, you’re a fool for sure; real survivors learn wisdom from others.” Proverbs 28:26 MSG‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Posted in Pursuit of Excellence

August 3, 2016

http://www.investopedia.com/articles/insights/072916/top-10-wall-street-movies.asp

After last week’s brief reference to movies, I decided to include this article. It’s a good mix of movies that have some reference to Wall Street.

From classic Wall Street to the more recent The Big Short, these are the top movies that portray Wall Street, the markets and finance.

In order to have an objective ranking system, this quick study used a cumulative score from IMDb, Rotten Tomatoes and Metacritic. The scores from Rotten Tomatoes and Metacritic are audience scores. Since Rotten Tomatoes uses percentages (i.e., 90% of the audience liked this movie), that percentage score was changed to a 1-10 score with decimals when necessary. For example, if a movie has a Rotten Tomatoes audience score of 88%, then the score is 8.8. The movie with the highest cumulative score was ranked number one. (For more, see: 4 Movies Showing the Real Side of Finance.)

Top 10 Wall Street Movies

Keep in mind that these are broad-based ratings, not just ratings from people who work in finance. (For more, see: How Hollywood Portrays Wall Street.)

IMDb

Rotten Tomatoes

Metacritic

Total Score

1. Inside Job

8.3

9.1

8.4

25.8

2. The Big Short

7.8

8.8

8.3

24.9

2. American Psycho

7.6

8.5

8.8

24.9

4. Enron: The Smartest Guys in the Room

7.7

8.6

8.4

24.7

5. Trading Places

7.5

8.5

8.6

24.6

6. Wall Street

7.4

8.1

8.9

24.4

7. The Wolf of Wall Street

8.2

8.2

6.8

23.2

8. The Family Man

6.7

6.7

8.8

22.2

9. Working Girl

6.7

6.7

8.7

22.1

10. Margin Call

7.1

7.4

7.2

21.7

Remember, these cumulative scores are based on a broad audience. If ratings were only taken from those who work in finance, the list would likely look a lot different. For example, Wall Street would likely rank higher.

 

Each of these movies are either a thriller, comedy, or even a documentary. I suggest watching one of these movies if not for the financial education, then simply for entertainment purpose. I don’t endorse any one move in particular, and some of the movies may contain adult language, adult content, and violence.

http://www.thisisinsider.com/goldieblox-ceo-debbie-sterling-best-advice-for-entrepreneurs-2016-6

In 2012, Stanford-educated engineer Debbie Sterling founded toy company GoldieBlox to encourage young girls to start tinkering with toys and building machines.

The first-time entrepreneur is catering construction toys to young girls in an effort to raise the percentage of female engineers in the world, which currently stands at just 14%. Debbie attributes the success of GoldieBox to one lesson: Don’t be afraid to ask for help.
“I think the biggest mistake you can make as an entrepreneur is pretending that you know everything, or feeling you need to come across like you do,” Sterling said. Rather, the key is “admitting freely that I don’t know the answer to something or don’t know how to do something, so long as I seek somebody who does.”
I admit I have trouble asking for help. In my work environment, because of the demands and the different layers of tasks I’m asked to do, I feel like I can’t ask for help, or I’m concerned about the level of service that will be provided. If you’ve experienced these moments too, then I encourage you to begin to delegate more and trust your co-workers more. There’s only 24 hours in a day, and within that time only so many tasks can be completed. Prioritize the important ones and ask for help on the easy ones. It sounds simple, and it may seem like it conveys weakness, but if the people you work with know your heart then they know it’s a genuine need and not a sign of laziness. “Plans fail for lack of counsel, but with many advisers they succeed.” (Proverbs 15:22 NIV). No one is an island, and we’re better together. Seek and get help, because it will help you grow. Sterling said the lesson is especially valuable for girls, whose self-confidence is malleable at a young age. “I see a lot of young women who feel so much pressure to be perfect and have it all figured out that have too much pride or they’re too ashamed to admit if they don’t get something right away,” Sterling said. “If they’re too afraid, they’re just going to shy away from it, which is sort of a recipe for not fulfilling your potential.

http://www.wsj.com/articles/help-for-middle-of-the-night-insomnia-1467048493

It is a frustratingly common scenario: You fall asleep easily at bedtime but are wide awake at 2 or 3 in the morning. Only after a half-hour or more of staring at the ceiling can you finally fall back to sleep. This middle-of-the-night insomnia happens to everyone every once in a while. It is an appropriate, normal response to stress, doctors say. About 30% of American adults have symptoms of some sort of insomnia each year, according to scientific studies. Chronic insomnia is generally defined as having difficulty sleeping at least three times a week for three months or more. I started having trouble sleeping a little in my college years, but even more frequently in my mid-20s. I hope this article will be helpful if you’re having trouble staying asleep. Dr. Perlis suggests that the best way to keep an occasional bout of insomnia from becoming a disorder is to simply not try to compensate for the sleep you do miss. Your body will naturally re-adjust if you don’t nap, sleep in or go to bed early to try to recover the difference. Allow your body to balance itself. The article goes on to provide helpful hints such as not allowing bright lights such as computers or cell phones. Another helpful hint is to not snack in the middle of the night, because it could condition your body to keep waking up. The article concludes with various sleep medications, and in my opinion, the best way to get fight insomnia is to actively engage in your rest. Let your bedroom be for sleep. Tomorrow will be here before you know it.

If you have a prayer request, or if you’re in need of a financial checkup you can reach me in the contact me section.

For this week, I’ve included an animated book review of Start with Why by Simon Sinek

“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, ” GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”

Psalm 35:27-28 MSG

Posted in Pursuit of Excellence

July 13, 2016

http://www.investopedia.com/articles/personal-finance/031815/retire-philippines-200000-savings.asp

More and more people are choosing to retire abroad to enjoy a better climate, new experiences, access to affordable healthcare and a lower cost of living. One destination long popular with expats is the Philippines, a nation that spreads out over more than 7,000 islands. This country is located in Southeast Asia and is near Taiwan, Indonesia and Malaysian Borneo. The author argues that it is possible to live better and make your money stretch further by living abroad. This article examines if it is truly possible to retire in the Philippines with $200,000 in savings. Each year, International Living’s Global Retirement Index ranks retirement destinations around the world, measuring factors such as climate, healthcare, benefits and discounts, and cost of living. For the 2015 Index, the Philippines scored 92 out of 100 for cost of living, placing it in the top 10 for cost of living, and matching Belize, Cambodia, Ecuador, Guatemala and Thailand. Only Nicaragua and Vietnam ranked higher for low cost of living, each earning a perfect score of 100. In the Philippines, the $200,000 would last roughly 21 years. If you add in Social Security, a retiree can cover most of your living expenses. The author recommends that when you do transition to live in the Philippines, you should eat and live like the locals live to begin spending at the “local rate.” As such, it is always recommended that you work with a qualified attorney and/or tax specialist when making plans for retiring abroad. Also the author adds as a foot note that you should really research before retiring to the Philippines because of the increased violence as of 2014.

http://www.bloomberg.com/news/articles/2016-07-11/nintendo-adds-7-billion-as-pokemon-go-marks-surprise-hit-chart

A two-day rally for Nintendo has lifted the company’s market value by 718 billion yen, or $7.1 billion. The surge began Friday after the debut of a new mobile game app, Pokémon Go, and accelerated Monday with the shares rising by the daily limit of 25 percent in Tokyo. I encourage you to watch the video. It seems as though Pokémon Go will have an interesting effect on Nintendo’s share price but in people’s behavior as well. It’ll be interesting to watch as adults respond to their childhood activity suddenly taking on an adult life. This smartphone app has soared to the top of download charts. It’s a location based app in which users will try to find Pokémon characters overlaid on real life locations. Nintendo’s console sales have slowed, but if Nintendo can capitalize on its franchises then there is still enormous potential for profits and the company’s overall growth. Pokémon Go represents a success for augmented reality games, because it is overlaying digital images over the real world, and opens the possibility for truly mobile gaming. Also, it should be noted that Niantic, Inc. is the company behind the software that integrated the augmented reality into the Pokémon Go, and their first game was Ingress. Niantic may be a company to watch.

http://www.investopedia.com/articles/pf/09/not-saving-enough.asp

Here is a very basic plan for achieving financial independence: get a job, start to save, get raises, save as salary increases, take advantage of dollar-cost averaging (DCA), benefit from a bull market, hit magic number, and retire.
It sounds simple and straightforward on paper, but in reality, earning a high income does not automatically translate into a high net worth. The reason that there isn’t a higher net worth for most people is because there isn’t a discipline to save. Often times, when a person’s income increases, his expenses will increase also. This increase can take the form of a new home, and growing a family. Obviously with more people to take care of, the ability to save becomes more difficult. Another factor is lifestyle. People are more prone to want to enjoy life vs. setting aside money for the future. An additional factor to consider is geography. Depending on where you live, the cost of living can also be a drain on your ability to save. A final factor to consider is the eye of the beholder. What a person perceives as a lot of money may not actually be a lot, because having a better lifestyle means you end up with more to pay for. Sticking to the seemingly simple plan of earning more and saving more requires serious discipline and sacrifice. It means living below your means, regardless of the level of your means, and making savings a priority. In other words, “Keep your lives free from the love of money and be content with what you have…” (Hebrews 13:5 NIV). The most important thing you can do to increase your net worth is to create simple disciplines. Buy assets that produce income. Save before you pay bills or spend money. Set measurable small goals and celebrate the victories. Remember, it’s not about how much you make, it’s about how much you keep. If you want to learn a trick to help you accelerate your savings, then feel free to click on the contact me section link below.

If you need agreement in prayer, or if you’re in need of a financial checkup you can reach me in the contact me section.

“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, ” GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”

Psalm 35:27-28 MSG

Posted in Pursuit of Excellence

July 5, 2016

http://www.investopedia.com/articles/personal-finance/040915/how-much-cash-should i-keep-bank.asp

Everybody has an opinion on how much money you should tuck away in your bank account. The truth is, it depends on your financial situation. What you need to keep in the bank is the money for your regular bills, your discretionary spending and the portion of your savings that constitutes your emergency fund. Knowing how much you should keep in the bank depends on one crucial word: budget. The author outlines two techniques: the 50/30/20 rule and Dave Ramsey’s strategy. The 50/30/20 comprises 50% for fixed costs, 30% for discretionary money, and 20% for financial goals. 50% of your money should be for costs such as rent, water, electricity, car payment, internet etc. 30% of your money is for spending on wants vs needs. 30% can be spent on entertainment or food. 20% of your money should be for the future either as setting up an emergency fund or saving for an IRA, a 529 plan, or other investments. Dave Ramsey recommends this strategy based off of what you receive via paycheck: charitable giving – 10-15%, food 5-15%, savings 10-15%, clothing 2-7%, housing 25-35%, transportation 10-15%, utilities 5-10%, and medical/health 5-10%. Beyond your monthly living expenses and discretionary money, the major portion of the cash reserves in your bank account should consist of your emergency fund. Regardless of much you set aside, you want to make sure your money is instantly accessible so you can use it right away. Personally I have two savings account, one that is directly connected with my checking account, and the other is at a different bank earning a higher rate of interest. From time to time, I will transfer from the localized savings to earn the higher interest rate, however I make sure I have enough in case I need it. It is important to bring order to your finances as soon as possible so you can get into the habit of saving and building an emergency fund. If you are interested in learning the process I do then go to the contact me section. The most recent Federal Reserve data from the “Report on the Economic Well-Being of U.S. Households in 2015” surveyed Americans and mentioned that “[f]orty-six percent of adults say they either could not cover an emergency expense costing $400, or would cover it by selling something or borrowing money.”

http://www.investopedia.com/articles/wealth-management/040416/top-5-differences-between-business-and-first-class.asp

A cartoon reproduced on Firstclassflyer.com shows a pilot in the cockpit making his welcome-aboard announcement to the passengers: “The flight time today is five hours in first class and 12½ hours in coach.” Although that may not be literally true, ask passengers who sit “up front,” and you will often hear them remark on how fast the flight seemed to go and how comfortable they were. Here are five points comparing business and first class: the waiting game, boarding privileges, getting comfortable, food and drink and attention paid. Many airlines are boarding first and business class together, however on a few first class flights, the passenger will literally be escorted from the arriving terminal to the lounge, and from the lounge to the departing terminal. When you’re considering the getting comfortable option, it’s important to know the type of plane you are flying on and if the seat will turn into a bed. Depending on what airline you fly, it’s best to call ahead and ask about those kind of options especially if you’re flying overseas. Food and drink is where business and first class differs the most. On first class you often have food prepared under the auspices of a famous chef – Air France, rated No.1 for in-flight food by the Robb Report – offers menus designed by Michelin-starred chefs. For a year, starting in March 2016, select U.S. to Paris flights will feature entrées from Daniel Boulud. Finally, in attention paid, a passenger in first class will have service which is much more proactive instead of reactive. The major differences between first class and business class are the seats and the service but the actual differences greatly depend on airlines, routes and airplane models. Still, according to USA Today, first class always supersedes business class on international flights.

http://www.marketwatch.com/video/how-to-stop-the-robocall-uprising/F9BECBB2-9C05-4142-8ABA-80EF55ED76D0.html

Robocalls—those pre-recorded, unwanted phone calls—are at a record high. Over 10 billion calls have been made in the US at the time of this article. These robocalls can both be aggressive and friendly. These calls have been occurring even on our smart phones. These calls are happening as a result of technology having access to lists and lists of phone numbers that are placed into a computer program and are then sent through the Internet in literally seconds. The purpose of these calls is to allow identity thieves to gain access to your personal information. One way you can fight back is through the FTC’s do not call list – donotcall.gov. Another way to fight back is if you don’t know the number than simply hang up and don’t answer the phone. You can also use a call blocking app called Hiya which can add the number to a block list. The best service is called nomorobo. This service is available on LAN lines, and will soon be available for iPhone and Android phones. It sees when a lot of phone numbers are being sent out or spoofing and then it hangs them up or notifies the person to not pick up. We live in an age where criminals will use technology in order to gain access to your identity, and in response we should use technology to our advantage to fight back. However, If you don’t have identity theft protection, I recommend you get a plan in place just in case. You can find out more about an identity theft protection plan by reaching me at the contact me section. “A good name is more desirable than great riches; to be esteemed is better than silver or gold.” (Proverbs 22:1 NIV).

If you need agreement in prayer, or if you’re in need of a financial checkup you can reach me in the contact me section.

“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, ” GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”

Psalm 35:27-28 MSG

Posted in Pursuit of Excellence

June 28, 2016

http://time.com/money/4368356/steps-saving-emergency-fund/

Building up your savings isn’t easy. After all, a whopping 62% of Americans have under $1,000 in savings, found a GoBankingRates survey. And, only 14% have $10,000 or more. The author of this article suggests having $10,000 set aside in savings for major life events such as home improvement, losing a job, and or if you get into an accident. Understandably this amount seems daunting. There are nine steps to follow to build this amount: assess your spending, set reasonable goals, make a budget, track everything and pay with cash, pay yourself like a bill, open an inconvenient but high yield savings account, put any unexpected money into savings, don’t pay off that credit card debt, and reward yourself. For the sake of convenience, I encourage you to take the time to read this article, and instead I’ll share with you what I do. I follow a four step process which mirrors these steps. I’ll be glad to share it with you when you contact me. It’s important to build a budget because it will help you assess how much you’re spending, and allow you to set reasonable goals. Keep your receipts, and track it even if you have to write it down. I personally use a spreadsheet I’ve built over 5 years that helps me easily forecast where I will be up to 13 months from now. There is a process I follow where I not only pay myself like a bill and take advantage of a high yield savings account, but I also multiply my savings by turning myself into a bank. I highly recommend that whatever extra money you have you don’t spend but set aside. I did find the eighth step of not paying off the credit card interesting. The author writes: But many financial experts say that the strictly logical approach of paying off the credit card debt before saving money might backfire and that you should shoot for doing both simultaneously. Another approach is to pay off the high-interest credit card debt first and then put that minimum payment money toward your savings, said Gallegos. “When you pay off a credit card with a $50 monthly payment, increase your savings by that $50,” he said. It’s like you gave yourself a raise. The final step of rewarding yourself is essential, because you’re changing your behavior and learning that spending is easy and savings is hard. That’s why getting a reward every once in a while is important to keep you going, said R. Joseph Ritter Jr., CFP and founder of Zacchaeus Financial Counseling, Inc. If everything is going as planned, you should reward yourself every six months or so, he said. It’s challenging going from an instant gratification lifestyle to a seed time and harvest lifestyle. You’re not in this process alone, there are a few out there like you who are delaying present pleasure for a future reward. You’re letting your old self die in order to take up a new life. When you make this choice, I believe you will be blessed to become a blessing to someone else. At the end of the blog, I’ve included a YouTube link to an episode of Disney’s DuckTales in which Scrooge McDuck tells the story of how he came to America.

http://www.businessinsider.com/why-you-should-have-multiple-streams-of-income-2016-6


What would you do if your boss fired you overnight? With no more paychecks coming in, how would you pay the bills, put a roof over your head, and feed your family? I know what I would do: nothing. Because I have several bosses, including myself. When you have multiple income streams, losing one is not that big a deal. Often people will say that they can’t do more because of their full time jobs and other personal commitments, however the author suggests trying to build at least one additional stream of income. Some examples are: dividends from stocks, interest from the bank (preferably at least 1% interest), rental income from an investment property, freelance income, income from a room you rent from Airbnb or from renting your car on Turo, marketing your skills, a business you start on the side, etc. The author argues when it comes to investing you don’t put all your eggs in one basket, therefore by relying solely on employment income, you take that same risk. You open yourself up to the risk of losing everything through a lack of income diversification. If you lose your job, how will you pay for your living expenses? Having several income streams makes you much stronger in case of a layoff. The author even gives examples from her own life: rent from three tenants, renting a guest house via Airbnb, cooking for guests, trading forex, dividends, owning three personal finance sites, freelance writing, translation jobs, renting out my car and motorcycle, bank interest, and P2P lending. The author suggests that a person build passive streams of income, however the author explains that building passive income takes a lot of work and time to accomplish. However, with multiple streams of income you can slowly build your retirement fund. The author suggests spending much less than you earn and that can be done in two ways: by decreasing your expenses or increasing your income. The author gives an example of how to decrease your expenses, and I suggest you contact me to learn about how to create a budget. Instead of looking at how to decrease expenses, I’m going to use her brief example of increasing your income: But if you can find one client, willing to pay you $50 per week for a two hour lesson (what worked for me was tutoring, French classes and piano lessons. You can teach anything you are good at) or a freelance project, you have made another $200 this month. Find a couple more clients, and you are now making $500 more every month. If you’re interested in starting your own side business, then also feel free to contact me for suggestions. “Committed and persistent work pays off; get-rich-quick schemes are ripoffs.” Proverbs
28:20 MSG‬‬‬‬

http://www.investopedia.com/articles/insights/062416/deep-web-vs-dark-web.asp

The Internet is like an ocean, and what we as regular users see or access is just the surface. But just like the ocean, underneath the surface is a world invisible from the top. Our daily Internet-related activities like shopping online, using e-mail or Facebook, searching things on Google comprises what can be termed as the “Visible Web” or “Surface Web.” This portion of the web is usually calculated using the estimates provided by search engines like Google, Bing and Yahoo based on the “number of pages indexed.” According to an estimate, “the indexed web contains at least 4.56 billion pages (as of May 30, 2016).” While this number may appear huge, remember that the life below the ocean’s surface is enormous and so is the Deep Web. With the advent of the Internet, there’s become a space of human creation where both good and evil exist. There is both a physical (surface) and a spiritual (deep) world. Life is more than what we can see, and faith is having trust in what can’t be seen. The deep web is the world underneath our surface internet, and it isn’t accessible by conventional search engines. The deep web itself contains an even greater amount of information than on the surface web. The dark web is often confused with the deep web. However, to be more accurate, the dark web is the deepest part of the deep web. The Dark Web is like a subset of the Deep Web, or perhaps the deepest layer of the web ocean and includes encrypted sites, as well as marketplaces for illicit activities and products including weapons, drugs and illegal trafficking. The Dark Web reflects the “darker” side of the society, and is accessible via special software’s or browsers lsuch TOR (The Onion Router) or I2P (Invisible Internet Project), which have “masked” IP addresses, making them untraceable. It is in this place where evil does exist, and identity thieves will more than likely trade your stolen identity as a form of currency. In this digital age it is important to ensure you have proper identity theft protection. I’m not talking about credit monitoring, rather a service that monitors your e-mail address, passport, medical id number, social security number, and at the same time has the ability to restore your identity back to before your identity was stolen. If you’re interested in having this type of identity theft protection. Feel free to contact me in the contact me section. While technology is a boon, examples like the Silk Road remind us of the darker side of technology. In nutshell, it cannot be concluded that the Deep Web is all Dark; the Dark Web is a small although ugly part of the Deep Web.

Below is the link to Scrooge McDuck’s idea of Work Smarter, Not Harder

https://youtu.be/8jEZraf0eDI

If you need agreement in prayer, or if you’re in need of a financial checkup you can reach me in the contact me section.

“But those who want the best for me, Let them have the last word—a glad shout!— and say, over and over and over, ” GOD is great—everything works together for good for his servant.” I’ll tell the world how great and good you are, I’ll shout Hallelujah all day, every day.”

Psalm 35:27-28 MSG

Posted in Debt Free Me

Month End: April Snapshot


Every journey has its own setbacks and detours, however despite those moments, you must remain consistent about where you want to be. Will you run into unforeseen expenses and liabilities? Absolutely! I encourage you with this idea: I’m in no way perfect, but I serve a perfect God. He knows an exit strategy into every situation I’m placed into whether it’s good or bad. Repent quick, Forgive quick, and Move on quick. This previous month, I had to adjust my strategy and take advantage of the zero percent balance transfer offered on the Capital One card. As the wedding date draws closer, Jill and I have had to discuss the costs involved in the wedding. I’ve found this discussion very important, because in discussing finances, we’ve come into agreement on how to handle our finances together. I love her more and more each day, because she fills in and covers the weaknesses I never knew I had.

Specifically, I’ve re-focused my debt reduction on paying down the Barclay’s card while slowly reducing the other debts and applying principal reduction payments where I can. Always seek wise counsel where you can and use their counsel to take advantage of the best situations that present themselves. Their counsel will help you discern if the choice you make is the best one for you. When I got out of debt before, all I did was focus on making extra money to pay off debt. This time I’m paying down debt, saving, investing in assets, and growing my assets that produce income. Why? Time is fixed. We only have 60 seconds in a minute, 60 minutes in an hour, 24 hours in a day, 7 days in a week, and 52 weeks in a year. Time will run out. Use and manage your energy efficiently and effectively so that you can get as much out of each moment as you can. If you consistently focus on saving and buying assets, then when you finally are out of debt, you will have a larger amount in savings and more income producing assets vs. getting out of debt and then having to build savings and assets. Also, by saving and investing while you are getting out of debt, will create a discipline inside of you. How am I able to do it this way vs. the last time? I have a budget. A budget will put order into your life. Order proceeds increase and increase proceeds multiplication. Knowing your net income number is the key to being able to get out of debt, save, and invest. There is a process that I follow that I will share in future posts. Remain consistent and diligent on your journey.

Have someone to discuss your debt reduction strategy with, and if you need a financial check-up contact me. More details about a financial check-up is in the contact me section.

The rich ruleth over the poor, and the borrower is servant to the lender.
https://bible.com/1/pro.22.7.kjv

I believe in your journey to…. A Debt Free Me