I just finished up reviewing both contestants and I have the winner anouncement for this month's award. By the way you should not be happy to obtain this award. I'm basically calling you out. Those of you who are financial liers who turn to societies welfare system to bail you out of an obvious financial mistake seen from the beginning. Think your financial decisions through. Don't do a wait and see approach. Pros and cons and seriously ask the question. Does this decision put me in danger of not being self reliant.
This weekend I had enough cash on hand to purchase a trailor and 2 ATVs. I didn't. I want to, I deserve it, but it's not the right decision at this time. So considering the rash decision of not thinking ahead for possible future emergencies because it's not if but when they will happen that..
I have chosen.....
The owners......
of the Schnorkie.
The young girl with the horses is not married no kids not a whole lot of responsibility. I'm guessing no rent possibly no car payment. She has a lot of time to fix her financial mistakes and doesn't have alot of financial worries at this time. The couple with the Schnorkie are that typical show off the wealth you don't have young couple that are setting themselves up for future subsidies that they don't deserve. Start protecting your wealth today. Stop the debt stop the payments. Don't pay interest, earn it
Thats it for now. More to come.
Monday, September 28, 2015
Wednesday, September 23, 2015
September's second contestant
The second contestant this month is the owner of this horse
Pretty simple back story. Girl grows up with horses gets her own and a few more. While she is living at home she loses her job and her dad ask her to take responsibility and get rid of her horses. Not the best contestant I've got to admit.
I put it down to show that this is one way financial disaster starts. Good for her dad teaching her financial responsibility.
One last thing. Again and again I will explain that certain animals are in the "expensive" catigorie and the reason I am so against owning them is because they do hinder financial progress. When it comes to a financial disaster such as the 2008 2009 recession certain animal owners such as horse or dog (with exception) should be next in line for help. They helped cause some of their financial problems through necessary funds that supported their animals when clearly they can't afford them. Again my thorough thought through opinion.
There you have it. My 2 " I can't afford it award" contestants.
Pretty simple back story. Girl grows up with horses gets her own and a few more. While she is living at home she loses her job and her dad ask her to take responsibility and get rid of her horses. Not the best contestant I've got to admit.
I put it down to show that this is one way financial disaster starts. Good for her dad teaching her financial responsibility.
One last thing. Again and again I will explain that certain animals are in the "expensive" catigorie and the reason I am so against owning them is because they do hinder financial progress. When it comes to a financial disaster such as the 2008 2009 recession certain animal owners such as horse or dog (with exception) should be next in line for help. They helped cause some of their financial problems through necessary funds that supported their animals when clearly they can't afford them. Again my thorough thought through opinion.
There you have it. My 2 " I can't afford it award" contestants.
Monday, September 14, 2015
September's first contestant.
I've been doing alot of I can't afford it awards on cars lately and have decided to switch gears. This months I can't afford it award will go to a person who can't afford an animal such as a dog or a horse. Now I've brought this fact up several times that you need to think twice before getting a dog or an animal that is going to aquire alot of attention. What most young couples don't realize is they do take alot of your freedom's away and they are expensive. Some require a certain brand of dog food and vet visits. I've had a dog before and it was so annoying paying the vet every time we thought she was hurt or sick. I don't think we were thinking about our future enough. Eventually after having a baby and moving we decided that our future would be better without her. We found a nice couple who adopted her and we moved on. So again please make sure you think and calculate what you are going to give up before you adopt that cute little puppy.
This month's first contestant is the owner of this little Schnorkie.
I was lucky enough to catch this add twice because in less than 48 hours she changed it.
Here is the original post
And here is the updated.
So does anyone see what I spot imediately? Got to say I have more questions about the car than I do the dog. I find it ironic that in the first post she mentions getting a new car which obviously begs the question if she can afford a new car Why can't she afford a dog? She must have caught that because in the new post she says she needs to pay for repairs. So what is it? Repairs or new car? They've only had this dog for 2 weeks? Seriously? This is unfortunately America's planning people. Eat drink and be merry for tomorrow we default. I also want to point out this. This is the by far the cheapest I can't afford it contestant I have had so far. What she and other people don't realize is how much work and effort goes into having a puppy. Not the greatest idea especially if you have a 1 year old. Your strapped down and lose your freedom. Just try getting out of town with a 1 year old and a dog. It's not easy. Do yourself a favor wait at least 5 years until after you are married before you even consider a dog. There is so much you will want to do in that amount of time that a dog will be in the way.
By the way. They seem a little desperate. This is the 3Rd post in one week and the price is reduced.
This month's first contestant is the owner of this little Schnorkie.
I know cute huh?
I was lucky enough to catch this add twice because in less than 48 hours she changed it.
Here is the original post
And here is the updated.
So does anyone see what I spot imediately? Got to say I have more questions about the car than I do the dog. I find it ironic that in the first post she mentions getting a new car which obviously begs the question if she can afford a new car Why can't she afford a dog? She must have caught that because in the new post she says she needs to pay for repairs. So what is it? Repairs or new car? They've only had this dog for 2 weeks? Seriously? This is unfortunately America's planning people. Eat drink and be merry for tomorrow we default. I also want to point out this. This is the by far the cheapest I can't afford it contestant I have had so far. What she and other people don't realize is how much work and effort goes into having a puppy. Not the greatest idea especially if you have a 1 year old. Your strapped down and lose your freedom. Just try getting out of town with a 1 year old and a dog. It's not easy. Do yourself a favor wait at least 5 years until after you are married before you even consider a dog. There is so much you will want to do in that amount of time that a dog will be in the way.
By the way. They seem a little desperate. This is the 3Rd post in one week and the price is reduced.
Wednesday, September 9, 2015
How to eliminate interest on credit card balances.
About a year ago while I was on the injured list I suddenly became 40% poorer due to a cut in pay that happens when you go on disability. Even if you don't want to hear this I am going to say it every time this is mentioned. Nobody paid my mortgage and I still didn't use the bishops storehouse. Just saying. Now moving on. I had alot of time on my hand to think and I tried to figure out how to reduce debt or at least reduce interest. I realized your credit card can cary a balance and upwards towards 2 months can be interest free before accruing interest. For 1 month I tried using credit cards and paying them off. I had no interest the 2nd month then lost track of my expenses and ended up leaving the credit card balance on the card. I then slowly started paying it down. The credit card won and I didn't. Now I realize my mistake and I will show you that it is possible to destroy your credit card by using it.
First learn how credit cards work. Credit cards have an opening and closing date. Usually exactly 1 month. For example if your credit cards opening date is the 9th your closing date will be the next month on the 8th. You usually have a grace period of around 20-25 days. So your due date will be around the 4th or 5th. So if you put 300 dollars on your credit card that once had a zero balance on the 9th of September you have until November 4th to pay it off before you start accruing interest. This is very important to remember.
1st find out what your opening and closing date.
2 pick a payment amount you know you can stick to. Mine is 25.00
3rd find all of your bills that can be put on a credit card.
Now let's begin. Remember for the first month you are going to accrue interest. It's the following month and then after your not. Your basically going to pay your credit card backwards. Instead of paying a payment towards your credit card where your charged more than half in interest you are going to pay off your credit card with the money you would of paid for your groceries bills gas ect. Towards your credit card first then pay your bills up to 25 dollars less or whatever your payment is on your credit card. Your paying the old balance in full every month putting a new balance on then repeating every month until you have a zero balance. Your credit card is paid faster because you eliminate interest. Credit rating goes up?
and you get of debt creating more stability and income for your family.
A couple of pointers
1st a credit card can have multiple payments. If you have a bill coming up that can be put on a credit card pay the bill with the credit card then pay your credit card. Check with your cc company to see how many times you can make a payment.
2nd You must eliminate all old debt on the card for this to work. If your making payments make sure you pay your entire statement balance by your due date. For example if you owe 500 dollars but only can put 300 towards it do that but make sure before the due date another 200 goes on it or it will not work.
3rd BUDGET BUDGET BUDGET! You will not get anywhere if you don't care. Chose the cheaper items drive your car slower to save gas pack your lunch. Just by changing simple things you can easily save the amount of your payment. For example I love soda. The place I go to charges soda at a 1.39 + 8 % sakes tax. I've decided to change and go to my grocery store which charges 49 cents + 4% tax for refills. In one month I can easily save 25 bucks just from that one decision.
4Th Write EVERYTHING down. This is seriously my most important rule. Get a piece of paper or a notebook and you write the date description and price of every item or bill you pay for than deduct that from your amount your allowed. I use a folded piece of paper in my wallet. For example you pay your credit card 600 dollars. Minus your payment of 25 dollars you are now allowed 575 dollars.
5th. Most often you use your credit card for about 2 weeks. As soon as your done put it away and don't use it until your within your credit card time frame. Usually it's 2-3 weeks prior to your due date.
6th Use credit cards that have incentives such as cash back or points. They will help you quicker by paying you to use them.
7th Last one for now. Combine and conquer. Combine your credit card debt into one credit card or pay off higher interest cards by combing them. Here's how that works. Say your done with one credit card for the month but want to eliminate another higher interest card. Well max out the one you are working on with bills or things you would have spent from your account then pay that amount towards that high interest credit card. When you pay it down again months later repeat until that other credit card is eliminated. Works best for department store cards where your eliminated on only one store you can shop at. Just remember to not go over what you can handle paying off on a monthly basis.
So try it. Use your credit cards to destroy them and again remember. Do this with extreme caution and a very watchful eye. It can easily get away from you with one simple mistake.
First learn how credit cards work. Credit cards have an opening and closing date. Usually exactly 1 month. For example if your credit cards opening date is the 9th your closing date will be the next month on the 8th. You usually have a grace period of around 20-25 days. So your due date will be around the 4th or 5th. So if you put 300 dollars on your credit card that once had a zero balance on the 9th of September you have until November 4th to pay it off before you start accruing interest. This is very important to remember.
1st find out what your opening and closing date.
2 pick a payment amount you know you can stick to. Mine is 25.00
3rd find all of your bills that can be put on a credit card.
Now let's begin. Remember for the first month you are going to accrue interest. It's the following month and then after your not. Your basically going to pay your credit card backwards. Instead of paying a payment towards your credit card where your charged more than half in interest you are going to pay off your credit card with the money you would of paid for your groceries bills gas ect. Towards your credit card first then pay your bills up to 25 dollars less or whatever your payment is on your credit card. Your paying the old balance in full every month putting a new balance on then repeating every month until you have a zero balance. Your credit card is paid faster because you eliminate interest. Credit rating goes up?
and you get of debt creating more stability and income for your family.
A couple of pointers
1st a credit card can have multiple payments. If you have a bill coming up that can be put on a credit card pay the bill with the credit card then pay your credit card. Check with your cc company to see how many times you can make a payment.
2nd You must eliminate all old debt on the card for this to work. If your making payments make sure you pay your entire statement balance by your due date. For example if you owe 500 dollars but only can put 300 towards it do that but make sure before the due date another 200 goes on it or it will not work.
3rd BUDGET BUDGET BUDGET! You will not get anywhere if you don't care. Chose the cheaper items drive your car slower to save gas pack your lunch. Just by changing simple things you can easily save the amount of your payment. For example I love soda. The place I go to charges soda at a 1.39 + 8 % sakes tax. I've decided to change and go to my grocery store which charges 49 cents + 4% tax for refills. In one month I can easily save 25 bucks just from that one decision.
4Th Write EVERYTHING down. This is seriously my most important rule. Get a piece of paper or a notebook and you write the date description and price of every item or bill you pay for than deduct that from your amount your allowed. I use a folded piece of paper in my wallet. For example you pay your credit card 600 dollars. Minus your payment of 25 dollars you are now allowed 575 dollars.
5th. Most often you use your credit card for about 2 weeks. As soon as your done put it away and don't use it until your within your credit card time frame. Usually it's 2-3 weeks prior to your due date.
6th Use credit cards that have incentives such as cash back or points. They will help you quicker by paying you to use them.
7th Last one for now. Combine and conquer. Combine your credit card debt into one credit card or pay off higher interest cards by combing them. Here's how that works. Say your done with one credit card for the month but want to eliminate another higher interest card. Well max out the one you are working on with bills or things you would have spent from your account then pay that amount towards that high interest credit card. When you pay it down again months later repeat until that other credit card is eliminated. Works best for department store cards where your eliminated on only one store you can shop at. Just remember to not go over what you can handle paying off on a monthly basis.
So try it. Use your credit cards to destroy them and again remember. Do this with extreme caution and a very watchful eye. It can easily get away from you with one simple mistake.
Monday, September 7, 2015
Just Another thought on car loans
So I just wanted to add this thought with all of my other thoughts on financing a car.
Normal car loans last around 5 years. Your more expensive cars in the 30k range are probably around 72 to 84 months (6-7) years. Before you purchase that vehicle ask this question, can I really afford this for 5 6 7 YEARS. So many things change in that amount of time. Families grow creating more demand on your finances. Your payment doesn't go lower. Remember your paying that 600 dollar payment for the next 5 years. Most often your payment just barely keeps up with the value of your car so by the time you own your 35 THOUSAND dollar it's value will drop to less than 10 thousand. If you add Princable plus interest plus insurance payments you've paid close to 45000 and it's only worth 10!
The other argument I'm hearing is,that the economy is doing well. Uhm well it's not. I've been arguing for a while all of those numbers you are seeing from your house prices to your stock prices are inflated and can easily go down. The economy is not doing well interest rates will go up eventually.
Again do yourself a favor and keep your auto loans at 5k or less and that's only if you have to.
Normal car loans last around 5 years. Your more expensive cars in the 30k range are probably around 72 to 84 months (6-7) years. Before you purchase that vehicle ask this question, can I really afford this for 5 6 7 YEARS. So many things change in that amount of time. Families grow creating more demand on your finances. Your payment doesn't go lower. Remember your paying that 600 dollar payment for the next 5 years. Most often your payment just barely keeps up with the value of your car so by the time you own your 35 THOUSAND dollar it's value will drop to less than 10 thousand. If you add Princable plus interest plus insurance payments you've paid close to 45000 and it's only worth 10!
The other argument I'm hearing is,that the economy is doing well. Uhm well it's not. I've been arguing for a while all of those numbers you are seeing from your house prices to your stock prices are inflated and can easily go down. The economy is not doing well interest rates will go up eventually.
Again do yourself a favor and keep your auto loans at 5k or less and that's only if you have to.
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