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Mind Over Money

The Biggest Gamble We Must All Make

dice I never finished college. I just didn’t like learning things that had nothing to do with what I wanted to do in life. Especially when I really didn’t know what I wanted to do in life. I chose the path of pretty much not going to college and I don’t regret it. I’m taking a gamble and I hope it pays off. I was lucky in that I didn’t have to take out any unsecured personal loans and end up getting nothing out of it.

Go to college

The story these days is that you go to college, get a degree, and then stay at your parents house because you can’t find a job. As the economy goes south, so does the risk of not getting a job after you graduate. What college gets you is a better chance at success in the corporate world. You have a chance to get more connections and you’ll have a degree that shows proof that you can finish what you start.

Life is easier with a degree, plain and simple. But that’s only if you use it to the full potential. What if you’re not good at socializing? What if you’re not that interested in getting a degree? Then college is probably a bigger risk of failure to you and maybe you should have foregone college and got a head start out of high school.

Don’t get me wrong, college is a great experience and you can get a lot of connections that will serve you well after you get out. But that’s if you make the effort to get those connections. That’s all part of the gamble.

Don’t go to college

If you make this choice the road is a lot harder. However, it can give you a head start.  About 50% of the people that go to college drop out. If you take that route, then you wasted time you could have had in the workforce or starting a business.

Once you get out of high school you have to make a choice of which path you want to choose for yourself. If the economy is down like it is you have a better chance of just joining the work force or even starting your own business. When the economy’s down the risk of going to college and not getting a job are about the same as starting a successful business that you control.

I could either go to college and risk not getting a job when I get out or not go to college and risk that I won’t be able to go up in the ranks at work because I don’t have a degree.

What I’m getting at is that you have to make a choice of whichever one you feel will give you the best chance of happiness. I chose what I feel will be a harder road but I think I need that challenge in life.

What road did you choose? Do you regret your choice?

I’ll start. While I wish I started out sooner, I will say I did learn a lot about myself by going through the college atmosphere. So, I don’t regret it because I don’t know where I would be today if I didn’t attempt college.

Mind Over Money

The One Asset You’ll Always Have

In Search Of Lost Time

The first thing we own as a person when coming into this world is, you guessed it, is time. There have been many situations in which both I and you have used the phrase “I spend my time doing x” and neither of us has realized how the way we think and speak affects our life. The first action is born at the level of the mind known as the subconscious and it becomes motion in a couple of Nano seconds leading to action.

Invest it

Instead of “spending time” we should choose to “invest time”. We should invest time in activities which make us feel better physically, mentally and emotionally. If we focus on being healthy we will be able to enjoy life more and also work more which in turn will mean more money into our pockets.

If we invest time in reading about personal finance then our mind will grow and we will know how to pay ourselves first and protect the money we work so hard to earn by learning to work smarter not harder. If we have a balanced personality we will be in a good mood and have a nice positive vibe which will attract more wonderful opportunities and people into our lives that will mentor us on how to become wealthy.

To be wealthy means to be successful on all the levels of your life: family, career, personal level of development, social relationships and financial status.

The way you invest your time as a person will determine whether you will be poor, belong to the middle class or be a part of the exceptional people known as rich.

Use it wisely

Most of us after a whole month of work are tempted to go spend the money that is left over after taxes and bills are taken care of on various treat or activities. We love to spoil ourselves and we all know it. Instead of eating this big piece of candy at the end of the month take that small sum of money and put it away in a savings account. Delay gratification! If this piece of candy makes you feel so good about yourself now, imagine how good it will make you feel when you have six times as much and decide it is time to increase your income by investing the money into something that will raise your standard of living.

Take a course about something you always wanted to learn and get certified! Switch your line of work to what you have always wanted to do and begin making more money. Now that you are certified you will begin to receive more offers and you will notice an increase in monthly cash flow.

You are one of the best

The truth is the majority of people we call rich are people like you and me. The portrait of the billionaire no longer resembles to a corporate suit that works 18 hours per day and drives to work in the most expensive foreign car just because he loves to attract attention.

The modern day billionaire is a person that had a normal life growing up, some even mediocre. They had no special talents or didn’t benefit from the whole education package and decided it is time to make their own way in life, so they learned about personal finance.

Personal finance is not about spending money, but about how to keep as much of the money you make as you can. The first investment you should ever make is in yourself.

Take the time and the money that you’ve made today and invest it in yourself so by the end of year you will have made even more money! In case you have noticed that I have said the end of the year instead of tomorrow that is because the process takes time. Stay true to the principle and put in the work and you will be on your way to wealth!

How do you use your time wisely?

photo credit: bogenfreund

Mind Over Money

Guide To Not Stress Out When You Are Broke

Living paycheck to paycheck can be very stressful. You’re always wondering how you’re going to pay your next bill. I’ve been there and it sucks. After a while of living paycheck to paycheck, I realized that unless you can control the outcome, then there’s nothing to worry about. If you can control the outcome then you can either worry about it and not change your life or do something about it and stop worrying.

Stress has a lot of effects on your health and you need to change the way you live in order to live healthier. Changing your whole mindset isn’t easy to do, but it’s something that needs to be done, otherwise you’re going to be stressed out all your life. You are in control of your life, so you can’t wait for something to happen. You have to make it happen.

Plan

If you have a plan in place for when you’re low on money, you will be able to take stress out of the equation. You are stressed because you don’t know what to do, but you’ve been here before. So now that you’re here again make a change. What are you going to do this time? Once you come up with a solution, write it down and use it next time. But how do you come up with a solution?

Brainstorm

So let’s take an example. Your rent payment is coming due, but you don’t have all of it. If you’re just going to shut down, then you’re not going to be able to pay rent. What do you do? Well, what can you do? Brainstorm it. You could get payday loans, but that’s just going to delay the inevitable. So come up with something constructive like selling something, going to a temp agency, sell plasma, go to a day labor place. These are just a couple of brainstormed ideas, but you get the point. There are other ways that are more constructive than getting a payday loan, which are going to have you stressed out again in two weeks.

Action

Once you have found a solution that is going to give you the best outcome without as much negativity, then put it into place. Start doing it and write it down so you know what to do next. Hopefully there won’t be a next time because you got rid of the stress. But like I said before, it’s good to have a plan so you don’t stress over the situation. If you constantly find yourself back in this situation then work on the next step which is changing your spending/making money habits.

The point is to get rid of the stress points. It’s not the lack of money that’s stressful, it’s the lack of a proper solution. Yes, the ultimate goal is to make more money but you can’t do that if you’re stressing out all of the time. Once you get rid of your stress points and have a plan for what to do when you’re running low on money, you’ll be able to focus on increasing your income.

How do you deal with stressful situations?

 

Mind Over Money

Why Won’t Money Buy Happiness?

Big BubbleWe’ve all heard before “Money can’t buy happiness”. But why? Why can’t having everything you’ve ever wanted to buy make you happy?

Are you happy now? If not then nothing you ever buy is going to make you happy. Sure going on a shopping spree will make you feel happy in the short term but in the long run you’re just going to go back to your unhappiness once the high wears off.

What you need to do is look deep down inside and find out the root of your unhappiness and it’s not because you don’t have enough things.

I believe the best way to become happy, when you’re unhappy, is to think positive or to talk it out with someone who will tell you like it is.

Always looking at the bad side of things will make even the happiest person not happy. If you really always have to complain about something then you really need to do something else. Why are you doing something that makes you that unhappy. Instead of complaining about it, do something.

I was really unhappy with my old job and finally just got tired of complaining and looked for a new job and found it. Now I’m extremely happy and would never look back. Sure I gave up a possible promotion in the near future but I also gave up stress, which I would give up anytime.

Would you rather have modest money and be stress free or a billion dollars but would have to be stressed out everyday (and there are things money can’t stop from stressing you out so don’t let that affect your decision)? I would choose modest money all day and night. Stress is really not good for your life or your family’s life, so cut it out.

Happiness is an emotion that’s deep down inside of you. Money will make a fake happiness for a little bit but eventually the unhappiness deep down inside of you will come out.

If you’re always unhappy, try changing something that you feel is causing that unhappiness. There’s really nothing to lose because doing that will either make you happy or keep you unhappy. So you have a lot to gain and little to lose.

So take action and change your unhappiness!!

I changed jobs to become happier, what have you done to become happier in life?

photo credit: h.koppdelaney

 

Mind Over Money

Break The Cycle Of Being Financially Poor

schoolThere’s a deadly cycle when it comes to being poor. When you aren’t educated on how to be good with money, your children aren’t going to be educated on how to be good with money. If you are bad with money you need to get better for future generations. The only thing I ever learned growing up was about investing in stocks. I never learned about making a budget and it never occurred to me that I even needed to know because no one ever told me I needed to know. The only thing kids know about personal finance is that you need to work to pay bills. That’s it. You need to break the cycle.

Get An Education

If you don’t know about good money habits, how can you possibly have them? The only way to learn that way, is to make mistakes. That is the long hard road. Take the easier route and learn from other people’s mistakes. Read a book, read blogs online, just learn from people before you make those mistakes. When you learn something be sure to pass it onto your children so they have a lesser chance of making those mistakes as well.

Stop Wanting What Other People Have

“Ooooo my neighbor just got a new 52 inch Hi def  TV. It looks fantastic. I think I’m going to get one. I can get one at Rent-A-Center and make payments for a couple of years.” Don’t! Your neighbor has that because they can afford to buy one or are willing to put their future at risk to own something that looks cool. Don’t be that person that does the latter. You can’t define your life by what you own. If you really do define yourself by what you own, then earn more money so that you can buy what they have instead of ruining your future by paying for it with payments that end up costing you thousands of dollars in interest.

Don’t Spend All Of Your Money

This should be a given but how many people have a lot of money by spending it all? If you live paycheck to paycheck it means you spend it all. Stop doing that! Find places where you can cut back your spending. Find a cheaper place to live, stop eating out, stop spending money everyday. If you can’t do that then start earning more money so that you can put some away for a rainy day.

Having bad financial habits will most likely cause your children to have the same habits. Change your habits before it becomes too late and the cycle is started over again. On your journey to become financially independent bring your kids for the ride. Break the cycle of being financially poor.

Do you have any habits you don’t want your kids to have? Why do you have those habits if you don’t want your kids to have them?