Black Friday: Being Financial Responsible Around the Holidays

I think the title says it all. I remember as a child being lavished with gifts and I can't say I have any complaints but my cherished times was family trips, vacations, any outings, dinners, reunions, and so on. The activities I had with my loved ones was more memorable then the Michael Jackson turntable or my 20th doll. It's great to surprise others but going broke over gifts is a scary thought, because after all you can't pay bills with PS3's and TV's (not before selling them for much less than you paid). Whether you celebrate gift giving holidays or not, spending within your means is always a good idea as a nest egg can keep you from hunger while things don't make you any happier or financially secure.

I will still shop this year and what I've learned is waiting until the last minute can really kill a budget. Start early like yesterday :). Plan out gifts for all those you are shopping for and set your limits and stop. Cyber Monday may provide many deals without the scavenger hunt aspect of Black Friday but also note there are very good sales in Jan. What's wrong with a Visa/MC gift card so the person can purchase what they please, when they please? Black Friday may provide good bargains but look at lower end stores because standing in line for a limited product, you may have to fight over isn't the most fun with a stomach full of turkey. How much is your time worth? How much time are you wasting  for these "bargains"? I'm not against black Friday I just use my time differently at this point in my life because you can replenish money but time can not be recovered.

Happy shopping out their and be safe

Obamacare: From A Financial & Social Standpoint

I'm writing this post in response to the many companies including Papa Johns who are fighting Obamacare and threatening to layoff workers or reduce hours. First I would like to explain my stance I'm a liberal, but also a capitalist. I believe business/corp. owners should reap the benefits of their hard work however the issues at hand is that there is social responsibility that many conservatives ignore. To live in such lavish absurdities while paying low wages and not providing proper benefits is a slap in the face to employees and consumers of any product. America is fighting change. Canada has a health care system for its population and we can compare them to the health care system of America and it's embarrassing. American has been built on theft of land, labor, and resources and when any CEO battles doing what is right for their employees to maximize profits it is taking huge steps backwards. I don't feel "handouts" (a catch phrase for conservatives) are right but let's look at corporations receiving tax breaks, bailouts, and not providing health care, among many other things.... these are where the real handouts are directed. Responsible companies take care of workers and have happy work environments. Is Google involved in this battle? Now go look at their stock price. You can be profitable and provide a value to your employees at the same time. Laying off employees to maintain a few upper executive lifestyles and to keep shareholders happy doesn't help America's Economy. 

Who wants to eat or shop anywhere that has disgruntled employees whom don't make enough to maintain their health care needs? Think of the service you receive from such places. The poor and rich has such a huge gap and the division is causing an US vs THEM mentality that only plays into the underhanded nature of politics targeting these mindsets. At some point we have to reach a middle ground to move forward. So many are concerned with the cost of this new Bill (as I was when this rolled out) but no one scrutinizes tax dollars given to war and the tax breaks that allows CEO's to build massive estates with mouts with the same intensity. I don't feel the rich should redistribute their wealth (See Bill Gates for an example) but what is wrong with rewarding those people that help aid in your success? A business doesn't normally survive with one person alone and you should take care of your team with fair wages and benefits.....in my opinion.  We as American's all need to come together regardless of views. "United we stand, Divided we fall" or as I like to say....Divided we FAIL. 

Getting Back In The Groove

I have fallen behind but I will post tomorrow. I can't emphasize enough how important taking care of yourself is, health is so important. Good day!

Website Flipping

This new concept is similar to flipping in the real estate market and just as with the real estate market the more research you do the better your chance for success. Basically a website domain is purchased, a site created, and the domain is sold. Some flippers build up traffic with SEO and advertising others may not. A lot of times there may be a value in the site being "move in ready". The domain name is usually catchy or easy to remember, niche based, and/or already designed. 

An investor can benefit on both ends. If you don't have any interest in maintaining a site and advertising you may enjoy building sites and can make as little as $100 per site and some people make thousands or more on sites that may take an hour or less to create. There can also be the opposite scenario in which you want to market a site but you have zero interest in the creation of it. 

If you are looking for advanced website flipping training Click Here!

*There are risks with website flipping I have been burned before and it can happen be sure to research and take all the steps you can to protect your investment. 

Financial Rehab

Expanding  your Financial Thinking can seem like a impossible task, but it isn't at all. Grasping the ideas is difficult at first but once you get the basics, the rest comes more smoothly. Being knowledgeable about finances is valuing money and understanding; credit, debt, types of income, assets, liabilities, tax laws, and much more. Setting goals both long and short term will aid in you heading towards a future of financial freedom. Your goals can go from simply being able to pay your bills every month on time and having a little funds to do things you enjoy and having money remaining to save. It can go as far as those with goals and plans to become rich. Depending on your financial goals you may not need to know about everything but focusing in on your financial interests will help you achieve your goals more efficiently.

Figure out where you are financially and focus on one goal at a time. For instance if you have $10,000 in credit card debit don’t try to skip over managing your debt and go right to learning about acquiring assets first. It will just put 2 different sets of stress on you.

Watch where your dollars go, you may be spending too much on dining out, or purchasing electronics. Taking as little as $50 or $100 from your leisure spending and putting it towards paying off debts, or savings can really set you on the right track. Renting a 60 inch TV from rent a center may not be the best idea as far as money management. Instead of renting or putting things on a credit card and paying the minimum save for it then buy it, you know the old fashion way.

If you are already pretty tight financially think of ways to generate additional income if only $50 extra a month from selling on eBay, creating a website selling your art or something you enjoy doing, doing odd jobs on the side, or maybe even a part time job. 
Once you know where you stand set a short term goal it could be something like saving 3-6 months expenses in a savings account or money market just in case. It could be purchasing rental property or your first home. Whatever your short term goal is do two things set a plan in motion to achieve it and start taking those steps immediately.

After you have short term goals set think of your long term goals. What is your ultimate goal? Is it to retire at 50 maybe earlier? Do you want to own a hotel within 10 yrs? Whatever your goals set a plan to achieve it.

For all goals you set make sure you set a realist time frame. Then once you achieve it move on to your next goal. Remember to think outside the box because for most people working for someone will never get you where you want to be financially.

Use the library you pay taxes why not check out books for free.

If you can get a mentor that is great what better way to learn things then someone who is good at it. So if you know someone whom has good credit get tips from them. Someone whom is a landlord would be able to provide valuable information if you want to invest in rental property and so on.

The internet is a great place to research things. You can gain a wealth of information but keep in mind not everything is going to relate to you or your needs. Find what works for you and go with it.