Category: Habits

Simple Money Management

Posted in finances, Habits, howtogetoutofdebt, Investing, personal finance, Saving

Every good business and rich individual knows how to do one thing very well. Successful people probably don’t touch on this topic a lot, but the route of financial success is simply good money management skills. Managing your money can be difficult at times, but although it’s difficult it can be simple too.

This post is going to be dedicated in showing you simple ways to manage your money, so that you can have the keys for success.

PAY YOURSELF

I know a lot of influencers talk about paying yourself but they don’t particularly share how they pay themselves.

these are the ways I pay myself weekly and sometimes monthly:

• my 401(k) plan

• buying stocks

• other investments.

Essentially I take whatever is left in my savings accounts and use it to do one of these three things. Now since my 401K is already taken out of my paycheck, I really just use my savings for the other two.

SYSTEMS

I know a lot of peoples method or system when it comes to their personal finances, is to simply cash the check and stuff it in a box. Cashing your check is the worst method or system you can use, as Grant Cardone says “cash is trash.”

This is true because it doesn’t pay to have cash, it pays to have assets.

My personal method or system for handling money, is to deposit everything I make into my savings account. All I do is deposit and transfer for bills, that way after paying my bills I’m able to see what’s left for possible investments.

You don’t have to use this method, all I’m saying is that this works for me so you should try it and see if this system works for you. You can create any method or system for yourself as long as your know how you spend money.

These are just a few concepts I use I hope this helps you when it comes to your personal finances. Like I said from the beginning managing money can be difficult but also simple, so I hope these concepts were simple enough for you.

You can let me know if these concepts work by leaving a comment on this page.

Thank you for reading

THE WAY I SAVE

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How to Leverage your Money

Posted in finances, Habits, Investing, Money, personal finance, Saving, Uncategorized

I’m sure everybody’s heard of the saying buy low and sell high and that’s not just for the stock market that’s for every single thing you purchase. In this post I want to let you know about ways to leverage your money. I’m going to be sharing the ways that I personally have considered or successfully done myself.

BOOKS

So without further ado the first way to leverage money is with books. I have personally invested in several books like for example stock market 101, The intelligent investor, and the richest man in Babylon. With this investment of $57 in just these three books, I have made over a thousand dollars in 6 months.

This is just one example of how reading or listening to books can actually leverage your money. I am still utilizing the information used in these books today, which is also proof that it is a long term investment.

COURSES

When it comes to courses it is another way to leverage your money, but you have to be careful when it comes to choosing of course. I say this because there are courses that charge an arm and a leg for information that could’ve been provided somewhere else cheaper.

Also you have to be strategic when choosing a course what course can you take that can translate into more money for you. For me it was taking an accounting course to help increase my know-how of budgeting and maintaining my personal finances.

MENTORSHIP

Finding mentorship can be priceless and offered for a little to no cost, but there are people in places that charge you for their mentorship.

My advice is to start start with who you know and find people who invest their money in particular ways.

For me I have found plenty of mentors to draw near to who invest in real estate that are not only willing to share what they know, but are capable of partnering with me on deals.

Thank you for reading

The Way I Save

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Goals For your Money

Posted in finances, Habits, howtogetoutofdebt, Investing, Money, passive income, personal finance, Saving, Uncategorized

Many people create goals they want to accomplish at the beginning of each year. Some people accomplish these goals, others forget about the goals that they have set for themselves. The most successful people break down their goals into realistic task and give a time frame for the goal to be completed. If your new year resolution was to make more money this year, then you clicked on the best post for you.

In this post we’re going to break down your goal into making more money into realistic task but first lets be clear about the time frame. We want to complete this goal before the next year, so lets make this a 10 month goal.

TASK NUMBER 1

What are you passionate about and why? When you figure out what you are passionate about you will be willing to work more hours during the day. When you figure out why you are passionate about something it prevents you from getting burnt out or tired, and if you do get tired then its not a big enough “why.”

You don’t have to think too hard to realize what your passionate about because chances are you want to change peoples lives. So all you have to do is figure out what part of peoples lives you want to change. For example, I want to change the way people operate their personal finances so they can have financial freedom. The reason why I want to do this is because 80% of America is in debt and 55% of that debt is in credit cards.

So now that you know you want to impact peoples lives, and what part of their lives you want to impact, figure out how your going to impact them. Is it going to be through books, seminars, music, or a podcast.

TASK NUMBER 2

Supercharge your learning, when you find out what service your going to do, you need to learn more about the service (do not sell yourself short when it comes to the price of your service and do not overprice it.) You need to have a strategic method of learning too, so when you find the service you want to provide ask questions like how? Where? Why? and Who? Then learn the answers to each question. Start with the basics learn how to find the right people to partner with to eventually form a business, you need marketing, accounting, and specialist in the field.

TASK NUMBER 3

What ever money you have now, chances are your going to need more. So find things to flip, sell, or invest in that will give you enough cushion to start your business. I didn’t say it will be easy, but it is doable. Simple ideas to flip would be cars, shoes, or furniture.

I hope you enjoyed reading this post and I also hope it inspired you.

Thank you for reading

The Way I Save

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HOW TO START GENERATIONAL WEALTH

Posted in finances, Habits, Investing, personal finance, Saving

Just remember it starts with you, on that note don’t rely on your parents to leave you something when they pass away, because if your parents are like mine they don’t have anything to pass down to you. So start your creating your own Wealth.

ACQUIRE

All you have to do is buy. Ask anyone who has more money than you how they got their money, and most likely they will tell you they acquired something of value. That’s it creating generational wealth is not hard your just over thinking it.

Acquiring stuff can be even easier if you operate you bank account differently. All you have to do is three things.

1.) Lower your expenses

2.) Create a budget to save at least $100 a month.

3.) Only touch it to invest it.

If you took an accounting class you should know that assets are better than liabilities, but the problem is people like to classify miscellaneous things as an asset. Which is why it’s hard for many people to get ahead or create generational wealth.

ASSETS

Assets can be a house, stocks, a business, Gold, or simply anything that is giving you income right now.

Sadly people like to look at things that have potential to give them money as assets, but their only lying to themselves.

Look at everything you own and determined what is adding not just value, but income in your life. After determining what your biggest asset is simply create a habit of buying more of it.

DONT FORGET TO WRITE A WILL

There are plenty of places that can create your will, but why not do it yourself. Nowadays your just a click away to creating your “Legal Will,” from places like http://rocketlawyer.com.

I hope that in this new year you make a personal goal to acquire assets to increase the capital you own, and create generational wealth.

THANK YOU FOR READING

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so be sure to let me know what you would like to learn about next.

HOW TO START ACQUIRING CAPITAL

Posted in finances, Habits, Investing, Money, personal finance, Saving

You can acquire capital in multiple ways but in this post I’m going to be sharing what I do to acquire capital, and what my plan is to acquire more.

Well you can use gold, businesses, or you can acquire wealth through stocks like I do. I know that you can just let your 401k or your pension plan do the work for you, but the returns are much higher when you do the work yourself.

For example, my personal rate of return on my 401k for this year is 8.24 percent, while on the other hand my stock portfolio did a 21 percent return this year.

My goal for my finances or plan to acquire wealth is through borrowing from myself. Right now I am focus on stocks, but really I am building for the future.

After I acquire enough capital in my stock portfolio, I plan on taking an equity loan by putting a percentage of my stock portfolio up for colateral. The loan will be for purchasing investment properties, I truly believe that wealth starts by accumulating knowledge.

I took knowledge to the test by reading books, articles, and others forms of content on the stock market. After reading 5 to 8 books I finally started to see my return on investment.

THE MAIN POINT: “Everyone can start building wealth anywhere as long as they acquire knowledge first.”

Thank You for reading

THE WAY I SAVE

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GOOD FINANCIAL HABITS

Posted in finances, Habits, Money, Saving

If you want to be the next millionaire in town, build your income, or save for retirement its important to form good financial habits, but what do good financial habits look like? In this post your going to learn about three key strategies that you can implement for 30 days and form as good financial habits.

Well my name is Caleb and just to tell you a little bit about my self, my first job was hell to me. I was working sixty hours a week in a factory and spent most of my money just getting to and from work, until I found these three financial strategies that I now formed as habits. Now I work at a better place, getting paid more for doing less, and now I can say that my job is not my only income.

Mental Budget

So lets jump into the first good financial habit, the Mental Budget. Many millionaire’s can tell you off the top of their head, what they have earned and where they have spent their money on. You can do it too, but on a smaller scale. All you have to do is calculate what you have earned after tax per month, add up all your monthly expenses (earnings – expenses = actual income.) Then you subtract your expenses from your earnings to figure out your monthly actual income. If you divide your monthly actual income by four, you get your weekly spending budget. For me my weekly spending budget is twenty dollars. Now all you have to do now is focus on your weekly spending budget, so each purchase you make each week you substract from that number to stay in budget.

Justify Purchase

Why do you buy the things that you buy. Some people focus on buying name brand products, but ignore the no name brand. Just because you are familiar with a product does not justify the price, don’t buy it if the price makes no sense that’s nonsense. No name brands can be just as good and a better option because the price is justifiable. You shouldn’t pay for a brand, you should pay for a product.

BUY WHAT LASTS

When businesses are purchasing there assets they look for things that last to save on their break down cost. So why not use the same method, when I was in college I started using this method for food. I will focus on purchasing rice and pasta because they had a longer shelf life, then I was able to buy the food that went well with those types of products. You can buy cars that lasts, computers that lasts, shoes, and so on. Focusing on what lasts saves money for the long run and puts it back into your pocket. Have you ever drank a glass bottle coke and kept the glass bottle to see how long the glass will last, Try it.