I graduated with my Business degree in Finance back in 2008. At approximately this same time, my friend asked me if I have ever listened to Dave Ramsey, a personal finance teacher that preached the message of ‘Cash is King’ and ‘Debt is for Dummies’. With a chip on my shoulder, I responded, “I do agree with some of his teaching, but to avoid debt entirely? That’s simply just dumb. After all, debt is a tool and can be used to earn money without shelling out your own.”
I thought I was so smart, but in actuality I was just money hungry. Debt is hardly ever a good idea for a personal account since we are not rapidly growing our assets through business ventures and products that are creating a buzz in retail. Nope. Most of personal finance has one main inflow of money that needs to be budgeted in
Continue reading Earning a Grand Per Month is Way Easier to Do Without Debt
When I first started working at my new job last year, I met a co-worker that was disgusted at the fact that companies buy all of their products on credit and don’t pay for anything with cash until long after the product is actually received. I distinctly remember him asking rhetorically, “Why can’t companies just buy their products with cash? Why does everyone in this world need to go into debt to buy stuff? Why can’t we all just live within our means?”
Now, a year later, the story has changed. After getting his first taste of luxury with his 2008 Audi A4 (which was purchased with a loan by the way), he is now salivating for a bigger house. Instead of being content with his $120,000 condo in a great part of town, he has begun to set his sights on a $300,000 brick home with more bedrooms than
Continue reading Learn to Save, Not Just Make More Money
While reading another blog, I happened upon the story of Joy Anderson. Five years ago, she was a single mother with three kids. She was only weeks away from being flat broke. Many of us who need to earn a grand per month can relate to her financial situation.
She didn’t want to go to work outside the home and put her kids in daycare, so she decided to create her own preschool and only work a few hours a day. This in itself was a great financial decision because she was able to support her family AND care for her kids.
However, the real stroke of genius came when she decided to package all of the information she had discovered while setting up her own preschool in a training package for other women wanting to do the same thing. Sure, she had a serious investment of time when she
Continue reading Make a Grand Per Month Packaging Your Business Idea
If you’re looking to make a grand per month to help you reach your savings or budget goals, you’d likely welcome a program that helps you stop living paycheck to paycheck. That’s what I was searching for when I happened upon You Need a Budget (YNAB).
You Need a Budget was developed by Jesse Mecham when he was in college and engaged. The system gave him financial control, and several years later, after many friends had asked for copies of the program, he decided to make it public and sell it. In the years since, YNAB has become his full-time job, and he also has a number of people working for him.
What Makes You Need a Budget Different?
YNAB is a program designed to help you create the budget that will work for you. You won’t find the program advising you to spend no more than a certain amount
Continue reading You Need a Budget (YNAB) Review
Our society today is very much a “I want it and I want it now” society. If we are driving around in an average car, but decide that what we really want is a brand new Mercedes, we could just head to the dealer, get approved for a loan, and drive the car off the lot immediately. Ultimately, this decision will most likely lead to less financial flexibility and increased odds of getting into financial trouble. Suddenly, because of the availability of credit, we truly can have anything we want right now! Instead of depending on the bank to decide whether or not we can afford something, we should take it upon ourselves to delay our gratification, not just to avoid a financial crisis, but to grow extremely wealthy in the future.
My Online Business
Since mid-2011, I have earned nearly $50,000 by playing around with various online money-making ideas
Continue reading Delay Your Gratification and Grow Rich