Tag Archives: invest

The Frugal Life: #Frugalite Shopping

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Luke 14: 28-33 But don’t begin until you count the cost. For who would begin construction of a building without first calculating the cost to see if there is enough money to finish it? Otherwise, you might complete only the foundation before running out of money, and then everyone would laugh at you.They would say, ‘There’s the person who started that building and couldn’t afford to finish it! ’ “Or what king would go to war against another king without first sitting down with his counselors to discuss whether his army of 10,000 could defeat the 20,000 soldiers marching against him? And if he can’t, he will send a delegation to discuss terms of peace while the enemy is still far away. So you cannot become my disciple without giving up everything you own.

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If you are determined to live a frugal lifestyle it is essential that you learn the art of purchasing items at the lowest possible prices.

Doing so allows you to keep a higher percentage of your #paycheck; therefore, allowing more for paying off debt, saving, and investing. This is what allows you to build a strong financial situation. So how do you accomplish frugal spending?

First, pawn shops. These stores are very underrated. I frequently shop at a pawn shop in my neighborhood. Since I love buying movies I am thrilled that my favorite pawn shop sells DVDs & blu-rays for less than $5. I can buy three movies for the price of one brand new movie at popular store chains.

The movies haven’t been shortened, altered, or otherwise made any less entertaining just because they are priced lower than their brand-new counterparts. Also, I love knowing I am getting the most bang for my hard-earned bucks.

Second, #thrift stores. Along with pawn shops, these stores are a great resource for clothing, furniture, electronics, and power tools. There is a thrift store in my neighborhood where I can buy a jacket, tie, slacks, and dress shirt for less than $5. Yes, all those items for less than $5!

You may be thinking these items may be off brand, unimpressive rags that I would not wear in public. You would be wrong. I’m talking about brands like Perry Ellis, Liz Claiborne, and many others. Of course, off brands are also available. However, if you are dedicated to living frugally, the brand’s name should not matter at all.

Thrift: prudent use of money and goods: the sensible and cautious management of money and goods in order to waste as little as possible and obtain maximum value.

Thrifty Shopping

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Imagine that you have $50 set aside for clothes. You can go to a famous chain store and purchase one, maybe two outfits. Conversely, you can go to a thrift store and spend $10 for similar items. That is the art of Frugal Shopping! And of course you cannot get any more frugal than free. I like to browse the free section of Craigslist every now and then. Over the years I have acquired things like glass shelves, vases, a mattress, indoor plants, clothes, shoes, couches, a TV, and loads of other items at zero cost. It would be difficult to add up the monetary savings I have achieved over the years. Also, the barter section of craigslist is very helpful. Why not exchange something you are willing to get rid of for something you want or need? Bartering allows you to acquire items without taking away from your bank account to do so.

If you want to keep more of your paycheck and become a frugal shopper, the first step is to search for thrift stores and pawn shops in your area; and pay them a visit.

Happy, Frugalite shopping!

The Frugal Life: Give #Plasma, Save #Lives And Get Out Of #Debt

When someone asks how they are supposed to get  out of debt I give them several helpful tips including one that I think is underrated and often forgotten…Give Blood/Plasma.

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I live about eight miles from a facility that pays around $25 every time I donate blood. Following the rules and regulations I can give blood twice a week without posing any danger to myself. (Side Note: It is very important not to give blood too often because you can do serious damage to your body and even die from it so please follow the guidelines of your blood donation center.)

Giving plasma twice a week would yield $50 to put toward getting out of debt or increasing assets. A maxed-out credit card with a $500 limit (+ interest) would be paid off in just over 9 weeks. A $50 weekly payment towards the principal of a car note would help pay off the vehicle sooner and help reduce total #interest payments. Paying off such debts frees you from #slavery to creditors. Proverbs 22:7 is worth reading concerning this concept.

Thinking of investing in stocks? Deposit that $50 into a brokerage account, like Scottrade.com each week until you’ve accumulated the total amount you wish to invest. You’ve just created an #asset without going into debt to do so.

Not only does giving plasma or blood help you support a frugal lifestyle but you literally give the gift of life.

We are all familiar with the economic impact of a bread-winner dying. What if you gave blood, saved a bread-winner and therefore kept a family out of debt and above the poverty line?

Proverbs 19:17 states If you help the poor, you are lending to the Lord —and he will repay you! (NLT)

God Himself has told us we’ll be repaid for helping those who need assistance. Does this mean you’ll be rich as a result of being generous? No, but it does mean God’s paying attention to your every action and will reward you with friendships, great health, His guidance and protection and maybe money as well. His repayment comes in many shapes and sizes, it’s not limited to monetary wealth.

Imagine a child dying from loss of blood. Not only is this emotionally traumatic, it affects work performance which then affects one’s wallet.

Giving blood or plasma not only saves physical lives but boosts the global economy as well. I challenge you to search for the blood donation centers near you. Ask if they offer payment for donations. Give blood/plasma, save lives & get out of debt!

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What about you, BBM reader? Have you ever given blood/plasma as a way to help others and/or increase your income? If not, would you consider it now that you’ve read this post? I’d love to hear your stories.

Teen Business Owners- Part Two: Is Your Teen Prepared For Real Life?

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Looking back in history there is strong evidence that children had a lot more responsibility than today’s average teen. The Bible tells us that young David was about twelve when he killed a lion and a bear to protect his father’s sheep and about seventeen when he killed Goliath who stood nine feet, six inches tall.

Try getting today’s suburbuain child to go close to a lion, I dare you!

As impressive as the whole lion situation is, there is an even more important lesson here.

In order for David to be prepared to face the lion he had to be taught two things long before the king of the jungle came into the picture- responsibility and bavery.

Who do you think took on the job of teaching these much-needed character traits to this young man? The school system of the day, the elders of the Church or some brave soldier in the community? No! His parents did. While there is no mention of David’s mother in the Bible we do know that his father was Jesse, a direct descentent of Jacob- ya know, the guy who wrestled with God and consequently had his name changed by the Almighty?

Obviously this bloodline was NOT made of cowards. Wisdom, bravery and integrity are part of this family’s legacy. Such traits were taught, emphasized and passed down to future generations. Don’t get me wrong, these weren’t perfect people. Jacob, The Trickster, stole his brother’s inheritance then was tricked by his own uncle, Laban. Ten of Jacob’s sons agreed to sell son number eleven into slavery.

Yeah, they were liars, deceivers and thieves, definitely not perfect beings, but they were used by God anyway!!

See, even the most imperfect of us, myself included, can be used by God to do extraordinary things.

One book every adolecent/teen should read is “Do Hard Things” by Alex and Brett Harris. This book is authored by teen brothers who were sick and tired of the teen-ager status quo. They got fed up with how little society expects of their age group, so, they decided to do something about it. In this book you’re taken on a journey where the teen brothers achieve things that are considered “far beyond their years”. The important lesson in this book is that both adults and teens need to REQIURE and EXPECT more of our youth. They’ll learn, rise to the challenge, meet our expectations and even surpass them, IF we give them a chance.

So, look at what you’re teaching your children. Do you feel they can do more? If you were their age right now, do you feel YOU could accomplish more than today’s average teen? If your answer is Yes, and I suspect it is, then why sell your teen short? Let’s not prepare them for an average life, let’s prepare them for an extraordinary one!

Teach them to “Do Hard Things” like owning a business, tracking expenses, prepare for retirement, deal with tough economic times and sacrifice that PS3 game now for financial freedom later on.
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It’s up to us parents to get our children ready to bring down the real-life financial lions of the future.

I’m STILL Not Using #Algebra

I graduated from high school in 1992 @ age 17.

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During my school years I remember thinking, as many students before and after me, “When am I ever going to use Algebra?” Math wasn’t the only subject of which I asked this question. History and Astronomy were scrutinized as well.

I’ll be 39 on January 24th, 2014 and have I used Algebra, …at all….ever?! Absolutely not!

I have no animosity towards my former teachers and I do realize some of my fellow students have entered professions where my least enjoyed subjects have benefited them greatly. Some have reason to use Algebra every day.

(I’ll weep and pray for them later)

However, I’ve noticed that most of us don’t have the slightest need to use so much of the knowledge we’ve accumulated from Jr. High forward, yet vital education we now need in our adult lives was overlooked.

Ask the average teenager if they know how to balance a checkbook and they’ll propably ask, “What’s a checkbook?” If the average adult was asked, “Are you happy with your last month’s Balance Sheet?” they’d probably respond by telling you they don’t own a business. They don’t understand how important a balance sheet is for the financial success of the average person, couple and family.

In our great America we have been taught-falsely- that school is where all of life’s important skills and knowledge are attained.

Really?

If this is true why are so many families buried under debt, close to losing their houses and still living paycheck to paycheck? The answer is: They were not properly educated in Money Management.

I learned recently that Jewish parents start teaching thier children about money when the child starts asking, “Daddy could you buy me a…..?” Jewish children as young as eight years old learn to use their allowance wisely. They give the first ten percent to Church, save the next ten percent and even learn to invest another ten percent. Yes, at such a young age they undersand and practice investing. Have you ever notices how financially secure Jewish folks are in America?

It was interesting to learn that jewish grade-schoolers who are asked by non-Jewish children to let them borrow a few dollars respond with, “I’ll let you borrow two dollars for the weekend but you have to give me three dollars on monday.” To the American-bred child this makes sense because he’s seen his parents borrow money all the time. It’s a way of life, totally normal.

Proverbs 22:6 & 7 comes to mind:
Train up a child in the way he should go;even when he is old he will not depart from it. The rich rules over the poor, and the borrower is the slave of the lender.

The proof of these verses is all around us. Remember the American kid who borrowed two dollars and repaid three? He grew up to be the average American worker; in debt and struggling to get by. The Jewish kid who loaned two and collected three grew up to be the average Jew with no debt owning three businesses and passing on that legacy to his children.

FOOD FOR THOUGHT

Proverbs 213:22
A good man leaves an inheritance to his children’s children, but the sinner’s wealth is laid up for the righteous.

The time has come for us to educate our children about how money works, what money really is and how to use it to attain real Financial Freedom!

Is Algerba useful? Yes, IF your profession requires its use. Is Money Management useful? Yes, BECAUSE your Financial Success demands it!

Correct, It’s Not Your Money

YOUR bank account, MY investments, OUR money; humans are wired to use these posessive words, it’s how God made us and how human language is constructed. However, it sometimes ca

uses us to have a scewed perspective of reality. These things we….possess…..in this world are really not ours. They are infact, on loan, to us. 

I remember watching an episode of The Cosby Show several years ago. Vanessa, one of the older Huxtable daughters, had bragged to her friends saying her family was rich. In a conversation with her parents she explained that an original painting hanging on the wall of the Huxtable house had led her friends and her to this conclusion. Heathcliff Huxtable then explained that Vanessa, infact, was not rich.

His explaination went something like this: “Your mother and I have money. Your mother and I work hard to pay the bills. Your mother and I are rich. You, have nothing!”

This is the perspective each Christian should have in all things. Your children, cars, money, talents and even your physical body IS NOT YOURS. 

Matthew 5:5 is one of my favorite verses. Many have rightly quoted it to show why humility is a desired, Christ-like attribute. Personaly, I like it for a different reason. It states, “God blesses those who are humble, for they will inherit the earth”. The word I’ll concentrate on here is inherit. Ever noticed that you can only inherit something from the OWNER? Only the one who truly owns something can give it away to someone else. The first part of the verse points us to the true owner of everything, the One who will allow this inheritance-God!

With this type of perspective I strongly believe we could face both adversity and blessings in a more mature and productive manner. Consider Job. He lost land, cattle, children and houses. He was told by his wife to “..curse God and die”, yet his perspective helped him face a desperate situation in the most Godly manner possible. In Job 1:21 this man of God replied, “…The Lord gave me what I had, and the Lord has taken it away. Praise the name of the Lord”.

WOW! That’s Godly perspective at its finest in my opinion.

What we see here is a man who can face such a loss because he realizes one fact: I cannot lose that which I realize was never mine to begin with.

May we all grow into such a perspective as good ‘ol Job!!