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Jack William – George Tak
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Author: Jack William

Saving A Little, Focusing A Lot Can Boost Family Wealth

There is a rough sea out there today for many American families. Today can be your day to set a course to avoid the rocks and get your family moving in a safer direction.

A lot of people still believe you can’t do a lot with a little. As a result, many millions of Americans are not saving money and paying down debt. Of course, many Americans are saving and many others are pushing their debt down.

Consider that in 1979 the average recommendation for an emergency savings fund was 3 to 6 months of expenses in actual savings. Is the job market even close to what it was in 1979? Of course it isn’t.

Think about this: If you lost your job, could you go out and replace it immediately with the same income? This is the $1 reason that we feel the 2010 – 11 recommendation for emergency savings fund should be 15 to 18 months of expenses in money market savings and certificates of deposit. And the best news is that you can do it.

If you have not seen our “1% Savings Plan,” you must check it out for free in our past blog entries here or at www.BoostMyWealth.wordpress.com or at www.MiddleClassMoney.com. It is an easy way to generate steady savings without killing your lifestyle.

How else can you start your path to boost savings and reduce debt?

First, sit down with your entire family. Tell them that you are going to ask them to all work with you to do what every smart company has been doing this decade and especially since the beginning of the financial crisis: You are going to reduce and eliminate debt and build a cash reserve. Why? Tell your family the reason for the meeting and the reason for doing it is teaching each other what is possible when the family comes together. You can also tell them it is for peace of mind and to establish goals and patterns for your family that will launch everyone at the table on a path to wealth in their lifetime.

Of course, money is not the most important thing, but it gives you important options if things get worse.

Lay out your spending over the last six (6) months. Offer for family members to put things in several categories:

Bills (that must be paid each month)

Spending to feed, shelter and put clothes on the family

Other spending (this can be for non-essential food, shelter, et all)

Be honest about what spending is essential and brainstorm about which expenses could have been avoided. Work together to try to identify areas where you could cut back spending in the future and keep tabs on how much money that is as you go through the process. Keep adding it up and keep that amount of money in one place as you write out the results of your spending over this six (6) month period. You will want to take this money and turn it into “family bill #1” in future months. In order to do this, it must be the first bill you pay each month. Say you have gone to the movies once a month and your family votes that you can stay at home and have “movie night.” Take the money you would have spent – say that is $40 (it is probably more) and make that a future monthly bill that you pay at the first of each month.

Score “family bill #1” to savings = $40 a month.

Perhaps you have this meeting once a week to talk about how to improve saving and reduce debt. Maybe one week you focus on how to save more money by reducing spending. The next week you look at debt reduction.

140618_money_gen_10Start with credit card debt. Take out your credit cards and look at them because credit card companies are often the BIGGEST SINGLE FINANCIAL ENEMY of your family. These are the bad guys. Separate your credit cards and find out exactly how much interest you are being charged by each.

Begin making minimum only payments on each card EXCEPT the one with the highest interest rate. That card should receive as much additional payment BEYOND the minimum as you can stand to make until it GOES AWAY.

When you pay off a card, roll the money (all of it) to pounding the next one).

Once you have paid off the first card, celebrate with the family and rotate to the second card (the one with the highest interest rate). Keep doing this until credit card debt is 0.

Credit card debt is the #1 reason middle class families cannot build wealth today. See them as the enemy they are to your family.

Also make sure you find out if there are yearly …

The Magic Of Found Money

Money doesn’t save itself. In fact, we have learned that money gets away from you quickly if you don’t put it to work. You need an example?

bitcoinsIf you have been reading our blog for awhile, you may know that we have a jar in our kitchen. I put it there because my wife kept finding pennies, nickels, quarters and more on the ground when she would go to the grocery store or on a trip. It got to be such a funny thing that she got the boys doing it, too. We don’t use this jar for “loose change.” We actually use it to drop our “found money” in once we come in from a trip to the store or a weekend getaway. She simply made us aware that people throw money away everyday.

People are always asking how much we’ve found “this year” (because we do it every year and we put it in our e-book called “How To Survive Any Financial Crisis” found at www.MiddleClassMoney.com).

It can’t be that much, right?

Last year we wound up with over $60 at the end of the year. The year before that we had found just over $28. At the end of each year, we add up our “change” and put it in a 12 month CD. We have one for each year……year after year and we roll them over. They earn money for us month after month.

So, this year, the money people dropped on the actual ground in 2008 and 2009 is earning money for us month after month. We put this “found money” to work for our family.

How much have do we have in our little kitchen jar this year so far? $46.69.

We highly recommend involving your kids in the importance of family budget, spending, saving, investing and overall money management. In fact, we recommend that you build your strategy with them to overcome our “debt and credit marketing culture” and build savings and wealth regularly. That’s because doing these things with your children does the following:

1. Shows them that saving money regularly is important to you and should be to them.

2. Shows them that investing money regularly is important to you and should be to them.

3. Allows you to brainstorm with everyone in your family on reducing and eliminating debt on a regular basis.

4. Allows you to brainstorm with everyone in your family on building and maintaining an emergency savings fund for today’s economy (by the way, we believe that you should have 15 to 18 months of expenses in your emergency savings fund).

If you don’t believe you can save the kind of money your family knows they need, you should read our past blog entries. It is time for us to find a way to take our culture back from the corporations that market to us all the time on how we should have a “healthy amount of debt.”

Are you ready?

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!…

The Great Deleveraging Era & What It Means For Your Family

A huge warning has been sounded.

The world has changed.

Everyone saw the great recession, but did you see the debt clock tick, tock? The debt that everyone thought was fine in 2006 now functions like an anchor around everyone’s neck in 2010 and beyond.

shutterstock-36703882-2Companies are hoarding cash. Everyone is looking to flush debt. Companies are begging out of debt, refinancing and doing strange deals with anyone and everyone to deleverage their debt.

The economy continues to limp along. The U.S. Government is “doing into the hole” with the Chinese as the Chinese are purchasing the world. This will all have a long-term impact on what you eventually pay for any debt and it is also likely to impact the quality of goods on the U.S. market. It could further erode the employment picture for Americans and almost certainly ability to have substantial income.

What does the great deleveraging era mean for your family?

Deleveraging is a business word, but you should be doing what companies are doing now. You should be protecting your family.

It means you should be busy before it is….too late.

It means people with large debt will be in more and more trouble as we get into 2011, 2012, 2013 and beyond. It also means that those without debt will be in the drivers’ seat.

It all begins with telling yourself you can and making sure your focus is on PERCENTAGE of your after tax income that you are ACTUALLY saving.

You must begin by saying two things to yourself and your family:

1. We will find a way.
2. We can build savings and wealth – together.

How bad are things for your family?

You can answer that with these important benchmarks:

1. Do you have 15 to 18 months of expenses in emergency savings (money market savings and certificates of deposit)?
2. Are you regularly paying more than the minimums on any credit card debt?

You don’t have to save 15 to 18 months of expenses all at once, but you must get moving.

Over the last 100+ years the U.S. has had the wind at its’ back. This was created by a strong manufacturing and innovation via technology advantage, but the wind is shifting in a hard way.

For perhaps the next 130+ years, Asian counties will have the wind at their back. We will have to be better than we were with the wind at our back and continue to be more innovative in the future, but families will have to reduce and eliminate debt, save regularly and work together to build wealth to sustain a good lifestyle. This could not be more serious – and the time to take consistent action is NOW. Begin.

And you can do this.

If you want to begin with our “1% Savings Plan,” you can do that by checking out the details in past blog entries or at www.MiddleClassMoney.com.

Bring your family together at the kitchen table and begin with brainstorming that will help your family reduce expenses and apply the savings to….you guessed it….savings.

Establish your OWN plan for regularly saving money (and I mean in money market – away from your checking account).

Come back and check out blogs like this one and find additional ways to save $ by using coupons, coupon codes, negotiation and more tactics to help your family. Be willing to look at options for reducing spending and piling on savings. This is the beginning of your comeback.

Less debt = more savings.

More savings = more wealth.

You 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 …

Option # 5 To Save More Money

What can you do to save?

How about buy the things you always buy just like always? Yeah, you can do this. Do the things you have always done – but use a specific strategy to BOOST your savings at the same time.

Now, what is the strategy?

It should be pointed out that we are discussing items you ordinarily purchase on a regular basis. If you use this strategy to purchase things you do normally purchase, you will be participating in marketing only. That’s not our goal here. Our goal is to use your normal and ordinary purchases to boost your savings power.

First, make out your shopping list when you go grocery shopping or clothes shopping. Then, go to the web and use every resource you have to source coupon codes and coupons. Shop around and check prices on the web and compare. Remember that we live in one of the most marketing-based societies in the history of Earth. If you want a product, it is unlikely you have to purchase that product with a specific merchant. This goes for everything from groceries to a dress.

If they don’t offer a coupon code or coupon, be prepared to walk.

Okay. So now we are seeking out coupons and coupon codes. You can do that easy, right? But how do we turn it into actual SAVINGS?

Save-more-money-this-yearTake the amount you saved between what you would ordinarily spend on items you NORMALLY and REGULARLY purchase and shift that money to actual savings. This might be .50 or $12.00. But it represents a constant way you can seek additional savings and harness the power of this over time to blow the doors off your savings!

We also believe that you should negotiate to bring your power as a consumer to the front stage of your life. And put the amount you save in ACTUAL SAVINGS.

Here are a few sites for you to begin your journey:

www.couponmountain.com

www.promotionalcodes.com

www.retailmenot.com

www.offers.com

www.ebates.com

www.couponcabin.com

www.currentcodes.com

www.qponcoupon.com

www.couponcodes4u.com

As always, we are certain to tell you to do your own research and use it as an opportunity to have a game with family members to see who can find the best sites and best deals.

You can also join our little group on Facebook called “Coupons & Coupon Codes.” Share with others what you’ve found. And good luck.

Get in it to win it! 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!…

Don’t Fool Yourself When It Comes To Saving Money?

Do you ever fool yourself?

People do it all the time when they start a diet or when they set a short term goal that may not be realistic.

You’ve likely heard the saying, “We overestimate what we can do in one year and underestimate what we can do in ten.” This is a flaw in regular human thinking. It makes people avoid long-term goals or put things off.

What if you turned it completely around? What if you decided to look at your life in terms of really long-term goals? First, people around you might begin to look at you as crazy. No, seriously, try it. You’ll find that some people you thought were completely smart and sound will begin to tell you that YOU are crazy.

But that’s okay. Just keep it coming.

Set personal savings goals.

Involve your family.

Read magazines like Money Magazine and Kiplinger.

Hang out with people who find ways to save money. You can find them.

Follow people who save and invest regularly so that you begin to think like them.

It is a winning formula that has worked for many. It can work for you.

Develop your plan with your family.

Do it for your kids.

Do it for your spouse.

Do it for yourself.

Do it for the future – but focus on long-term.

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.

Save-MoneyIf 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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