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Chiara L. Waterman – George Tak
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Author: Chiara L. Waterman

I Want My Kids To Do Better Than I Have

Debt is the #1 killer of wealth production for the middle class in America. Forget about almost everything else for now. Our society has been taken over by corporation marketing and a real conspiracy to boost consumerism to the tune of the corporate profits machine.

We have gone in the U.S. from being a value country to being an entitlement country. We have also gone from a country that buys things on a cash basis to a country that focuses on a credit score. Oh, my, what will happen if you can’t borrow a lot of money? YOU WON’T BE IN HEAVY DEBT.

Still, they’ve got most of us trained that cash is out of favor and credit is king.

The results have been staggering: super large debt everywhere you look and smaller savings. More and more people look to government to bail them out, but they are busy bailing business out.

When it comes right down to it, you and I will have to bail ourselves out even when unemployment continues to be officially high and unofficially really high (the defined difference between unemployed and underemployed).

You must begin by looking at your expenses and removing 12 – 15% of your expenses by calling everyone who sends you a bill and asking for help to reduce your costs. Be open minded to their ideas as well as persistent with your own ideas. Ask for a supervisor. Expect to hear no. Keep asking. Tell them your family has hit hard times and you want to pay your bills, but you simply must reduce your expenses by 12 – 15% immediately.

Sit down at the kitchen table with your family, including your kids. Tell them you are reviewing all spending and you need everyone’s help to begin building regular savings and investment. Involving your kids won’t protect them from “adult stress.” It will help make them wealthy over their lifetime. It will give them more options and allow them more control.

Talk about ways you can reduce debt and increase savings and investment on a regular basis. You may be surprised at who comes up with the best ideas.

Review all credit cards. Credit card companies are the enemy of your family. Find out the interest rates you are being charged on each card you have. See if you can consolidate these cards into a low-interest rate card. If you can, make sure the new card is covered under the new financial regulations. Don’t trust credit card companies.

What happens if you can’t consolidate? Pay the minimums on every card EXCEPT the one with the highest interest rate. Pay as much as you possibly can on that one card until it is PAID IN FULL. Then, move to the next highest interest rate and continue. Do this until you have no credit card debt.

Keep this in mind, too: Your checking account is a money laundering account for other people’s money. Use any opportunity you can to take any extra money out and push it to savings where you won’t spend it so easily.

Brainstorm with your kids on how the family can earn some new dollars only for investing. You may be shocked at how much extra money you can find or earn to invest month after month.

What will this do? It will show your kids it is important to be responsible with money. It will also show them that they can empower themselves and their family when they have kids to grow savings and boost investment all the while growing wealth.

How would you like your kids to do better than you?

You can do this!

HELPING YOUR KIDS GET AHEAD

If you think I was born saving money, you are wrong. My own family didn’t believe in saving. They don’t believe in having a 401k. They have had “emergencies” all their lives. These emergencies always get in the way of saving money regularly. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. My parents thought they were shielding me from the realities of bills and worry. In fact, they were isolating me. I learned nothing until I had made many of the mistakes they made. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle. I have had to learn the hard way how companies mislead with marketing. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like www.boostmywealth.wordpress.com and www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”)!

In …

Getting Your Family Safely Through This Economic Mess

Debt is out of control. Bankers have run for cover. Credit is super tight and the economy is barely moving.

How does your family get ahead?

With the economy slipping and the employment situation stuck in neutral, you have to be smart about your family. If you have a job today, you must be putting away a percentage of your after-tax income.

20% of your after tax income with each paycheck should be going to emergency savings until you have 15 to 18 months of expenses in your emergency savings. However, that may be a giant stretch for you in the beginning.

We have already entered the deleveraging era. Big and small businesses are moving to push off debt. Households are going into foreclosure. People are cutting expenses by route of stopping payments and more.

If you don’t have a plan to save regularly, let us help you.

Start with our “1% Savings Plan.”

How does it work?

The next time you get paid, multiply your after-tax paycheck by 1%. That’s X .01.

Almost anyone can afford to save 1%.

krize-50228ba578e12Take that amount of money and let that be the first thing you spend money on with this paycheck. Put that 1% of your after tax paycheck in actual savings. Then, the next time you get paid multiply your after tax paycheck by .02. Put that amount in savings. Each time you get paid after that, add another .01. The third time you get paid after you begin this plan, you will take 3% of your after-tax pay and put it in savings before you do anything else with your pay. Continue to do this until you reach .20.

Next you want to put your family at the kitchen table and review your spending over the last six months. Be honest with yourself about money you spend on bills and on spending that you could do without. Make it your family goal to reduce your spending going forward by 12 – 15%. Involve everyone in brainstorming how you can do it.

After that, you will want to see past blog entries here and our other blog at www.BoostMyWealth.Wordpress.com relating to reducing your bills. We show you how you can look at every bill you receive at your house and work with the companies to reduce the expense of those bills while being open about their suggestions on bundling or service reductions that allow you to save 10 – 15% of what you spend on bills. But when you save 10 – 15%, put that amount in savings (and make it the first “bill” you pay every single month. If you make it a bill, you will have steady savings. Between this and the “1% Savings Plan,” your family can really begin putting away money for emergencies – like losing a job or about 100 other things that can get between your family and the economy.

You – and your family – can do this!

YOU CAN CHOOSE

You can choose to take specific and steady actions to change your life, change the lives of your children and change the future of your family tree. Yes, you have the power yourself.
All the corporations, the private equity companies, crooked politicians and rich people can’t stop you if you really have a systematic plan that starts with regular savings and steady investment along with your regular bills.

If you are willing to take the time with your family to make a plan for reducing and then eliminating debt over time, you can gain more control over your finances and you can teach your children how to become wealthy over time.

If you are willing to make people work for the money you spend with them, you can build savings and then wealth.

These things are within your reach. You just have to start and you have to be encouraged.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!…

Smart People Don’t Pay Retail

Rich people don’t pay retail. It’s not a joke.

Bright people don’t get embarrassed by negotiating on price. Smart people don’t overpay. They use tools to get the best deals so they can be rich.

Can you use coupons and save money on purchases? Yes, but here are some rules or guidelines and then some suggested websites for you to review for money saving fun.

Rule number 1: Make your shopping list out first. Then, search for coupons.

Rules number 2: No matter how good the coupon or coupon code, stick to the shopping list.

Rule 3: Always take the percentage you saved using the coupon or coupon code and take that amount directly to savings.

If you follow these three simple rules, you will be shocked at how much you truly can save.

And remember this: the value of coupons is marketing for the business and the savings for you. Don’t get confused about how to use them effectively and who’s side you are on!

Here are some sample websites to get you started researching places that help you save:

www.retailmenot.com

www.mydaily.com

www.parentdish.com

www.couponcabin.com

www.couponchief.com

www.couponsmarter.com

As always, we don’t endorse things. We tell you to do your research. So, get your family together and brainstorm ideas on saving money, using coupons and coupon codes and negotiation (we are big believers in negotiation).

You should be building a proper emergency savings fund for 2010 – 2011. That means you should be building money market savings and certificates of deposit with 15 to 18 months of expenses in liquid reach. This will help you build a true safety net in today’s economic environment for your family. And it has never been more important.

YOU CAN CHOOSE

You can choose to take specific and steady actions to change your life, change the lives of your children and change the future of your family tree. Yes, you have the power yourself.
All the corporations, the private equity companies, crooked politicians and rich people can’t stop you if you really have a systematic plan that starts with regular savings and steady investment along with your regular bills.

If you are willing to take the time with your family to make a plan for reducing and then eliminating debt over time, you can gain more control over your finances and you can teach your children how to become wealthy over time.

If you are willing to make people work for the money you spend with them, you can build savings and then wealth.

These things are within your reach. You just have to start and you have to be encouraged.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!…

Can You Afford It?

Everything in our society is geared toward how you can afford it.

Low payments are the key. If they can just get you to think you can afford it and make it easy, they know you will buy.

But what are you really purchasing?

Life long debt.

Reconsider your life. Think about all the things you have, what you need and your debt. What do you have that is important? Your home? Your car? Check out recommendations on true debt levels on the internet. Remember: These recommendations are likely to be higher than your debt should actually be, but looking at them and calculating the percentage of your after tax income it takes to pay your mortgage or rent and your car note should give you an excellent starting point.

Review all your bills. Look at your spending for the last three (3) months. Put your spending in only these three categories:

Buy-what-you-can-afford

1. Spending I have to spend to live (groceries, et all).

2. Spending I could do without.

3. Bills (that must be paid).

Be honest with yourself.

Ask yourself the most important question: Are you ready to begin an adventure in boosting savings and building wealth on your current after tax income?

Yes, I said it. Start where you are. Begin to build your own plan. Don’t believe you can start where you are? See our past blog entries for our “1% Savings Plan” or check it out at www.MiddleClassMoney.com.

Take a hard line with your bills. Call everyone who sends you a bill. Tell them you are having a difficult time and “want to keep them.” But tell them you need to reduce your expenses 12 – 15%. Ask for a supervisor right away if they give you grief. Be persistent. Call back. Ask for the supervisors’ supervisor. Be patient. Be nice. Ask for help. Be open to their suggestions – as long as it results in a reduction.

Take the money from any reduction and add it to a new spending category. Call it “Essential Bill” and pay it at the first of each month. Take the “essential bill” money and put it in ACTUAL SAVINGS away from your checking account.

Then, come back here and get more suggestions. Why? Because we are at war with the corporate American culture of debt and spending.

We want to be helpful to anyone who wants to put in the work to save regularly. You can do it, too.

TIPS:

You should be saving 15% of your after tax income. If you are not, you need to “make room” by eliminating spending, reducing and then eliminating debt and/or boosting income. And you can. You will be shocked how quickly it can add up.

Your emergency savings in 2010 should be 15 – 18 months of expenses in money market savings and certificates of deposit (FDIC insured). If you start saving regularly – even small amounts – you will be shocked how quickly it can add up.

Your checking account is a MONEY LAUNDERING ACCOUNT for other people’s money. Use any excuse to pull money out and stick it in savings (real savings). You will be shocked how quickly it can add up.

Are you ready? Start right now. Call a family meeting. Time is on your side. We are a consumer society. Take charge because YOU HAVE THE POWER.

YOU CAN CHOOSE

You can choose to take specific and steady actions to change your life, change the lives of your children and change the future of your family tree. Yes, you have the power yourself.
All the corporations, the private equity companies, crooked politicians and rich people can’t stop you if you really have a systematic plan that starts with regular savings and steady investment along with your regular bills.

If you are willing to take the time with your family to make a plan for reducing and then eliminating debt over time, you can gain more control over your finances and you can teach your children how to become wealthy over time.

If you are willing to make people work for the money you spend with them, you can build savings and then wealth.

These things are within your reach. You just have to start and you have to be encouraged.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get …

Would You Choose To Be Poor?

Can you choose to save or choose to be poor? Who would choose to be poor, right?

That’s exactly what millions of Americans choose every day. Why? Because we tend to want immediate results or immediate gratification. When you want a flat screen TV, you know exactly what you want. Marketing from credit cards and merchants focus on how easy it is to get what you want right now. Instantly.

Instead, adult maturity is supposed to celebrate preparation, steady strategy for long-term success. Maturity is putting off what you want today for plans that will help you in the long-term.

But let’s don’t get confused. This blog is not about retirement money. It is about saving steady and regularly with every paycheck. It is about slow and steady wins the race. This blog celebrates that you can have a plan and you can help your family reduce and eliminate debt and build savings and investment regularly.

If you don’t believe us, you can take a three (3) month test run with our “1% Savings Plan.” If you haven’t see this, check it out at www.MiddleClassMoney.com or in previous blog entries here or at www.BoostMyWealth.wordpress.com.

The most important advice you will ever get on saving money and investing is this:

Start.

Do it regularly.

Set goals.

Don’t listen to those who say it won’t matter or you can’t do enough.

Focus on the money you save and the money you invest – not simply the money you make.

Believe, as we do, that the money in your checking account is “other people’s money.” Use any excuse to remove dollars to real savings.

Keep your eyes on where you want to be. In other words, find or watch people who have built wealth. Focus on them. As I say, “Get a plan – move ahead.”

The most important truth? YOU CAN DO IT.

YOU CAN CHOOSE

You can choose to take specific and steady actions to change your life, change the lives of your children and change the future of your family tree. Yes, you have the power yourself.
All the corporations, the private equity companies, crooked politicians and rich people can’t stop you if you really have a systematic plan that starts with regular savings and steady investment along with your regular bills.

If you are willing to take the time with your family to make a plan for reducing and then eliminating debt over time, you can gain more control over your finances and you can teach your children how to become wealthy over time.

If you are willing to make people work for the money you spend with them, you can build savings and then wealth.

These things are within your reach. You just have to start and you have to be encouraged.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!…


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