Tag Archives: eliminate debt

Make Yourself WEALTHY (Let’s Get Started in 2010)


They are all around you: people who seem like normal everyday people – only they have saved an invested over the last twenty-five to thirty years and are either close to or are already millionaires.

How did ordinary people get there?

Steady saving and automatic investing with every paycheck.

Goal setting for their financial future.

You can do it, too.

1. Sit down and look at your current debt and the bills you have every month.

2. Check your emergency savings fund (do you have 15 to 18 months of expenses in savings?)! If you don’t have enough savings, work to save money and split those amounts between savings and debt reduction until you are rich.

3. Review credit card debt first; If you cannot put all of your credit card debt or those with the highest interest rates onto a lower interest rate card, then pay the minimums on all cards except the one that has the highest interest rate. Single out the highest interest rate card to pay as large of a monthly payment BEYOND the minimum that you can until you pay it off. Then, move to the next highest interest rate card and do the same. Repeat this until you are credit card debt free. Then remember what horrible enemies these companies are to your own family future.

4. If you have difficulty identifying ways to save, use our 1% Savings Plan (see previous blog entries for fast tips).

5. If your company offers a 401k, get in it. If you don’t believe in a 401k and your company offers one, GET IN IT. If you have trouble with this one, repeat it until you understand how it can make your long-term retirement a reality.

6. Establish a regular and automatic way to save with each paycheck. If you can, you can also establish a regular and automatic way to invest with each paycheck. Focus on the percentage of your after tax income you will be saving and investing – not how much.

The real secret is: saving + investing regularly + steady debt reduction and elimination + time = wealth. Yes, you can. You just have to develop your own plan. Almost no one becomes wealthy overnight, but you can do it. Begin TODAY and stay with it. You will see results.

You can do this! It’s 2010!

HELPING YOUR KIDS GET AHEAD

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

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 http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

The 12 Secrets To Super Wealth-Building

hard work easy money
The fast secret to building wealth is: There is no secret. It’s right in front of you and it is not fast.

If you have every tried to build wealth, you know it takes a long time (if done correctly) and it takes effort, restraint and strategy.

Here is our fast version:

1. Get organized. Find every bill and every expense. Review what you can live without. Eliminate it.

2. Build a proper emergency fund (15 to 18 months of expenses).

3. Reduce or eliminate interest rates in any way you can.

4. Reduce and then eliminate credit card debt.

5. Reduce and then eliminate all debt.

6. Set goals for short range, mid-range and long-term and stick to them.

7. Do everything you can to move money out of checking and into savings vehicles. We say it all the time:
Checking accounts are money laundering accounts for other people’s money.

8. Join your company 401k.

9. Start a Roth IRA or traditional IRA in addition to the 401k.

10. Negotiate on everything with everyone. Take the “savings” and SAVE IT. Move it to savings vehicles for every dime you save.

11. Engage and invite all your family members to join your quest to save and then invest to build true wealth.

12. Use coupons and coupon codes to save, but make sure the unit price means you actually save or you are only participating in marketing.

Get started now. Don’t wait! There is no time like right now to begin a savings program. Start small if you have to do so, but BEGIN.

You can do it!

CAN YOU TEACH MONEY?

We must teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

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 http://www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth
http://www.stickyasset.com

Turn The Table On Today’s Economy

stimulus

What if you could create your own stimulus that could propel your family to the next level while many around you will obviously be falling behind and slipping down into poverty? After all, there are some truly tragic things going on with the economy. It’s not just a word about the nation’s well-being. Economy is about your family.

Think of today’s blog as only a start on turning the tables on the economy. You can do this!

Start by looking at your spending over the last three to six months. Actually sit down and put it in front of you. Split things into “piles:”

1. Needs
2. Wants
3. Bills

Be honest with yourself. Look at the wants “pile.” These represent areas where you can save in the future, and you should begin now. This does not mean you can’t have things you want. It means that you are going to start a new path and work on how you look at money, assets and liabilities.

Call each company that sends you a bill and ask for a way to reduce the bill by 10%. Seriously. Companies do this all the time. Tell them you have been hit hard by the recession and you want to keep paying them. However, tell them that you must have a reduction. Take any reduction they give you and add it to your savings.

Take the money in these two areas above (“wants” and “bill reductions”) and begin using that amount monthly as your regular monthly savings. This is a quick start on savings.

Your short-term goal will be to build the proper emergency fund. That should not be 3 to 6 months of expenses (the amount you hear the most about these days). That amount is the same amount that old school financial guys in the 1980s and 1990s recommended.

The world has changed. The United States has changed. You need 15 to 18 months of expenses in your emergency savings fund. Why? Because it may take you longer now to replace your income should you lose your job than at any time since 1929.

Turn the tables on the credit card companies. Do this by calling each of them (if you have more than one) and letting them know that you want to pay them off, but you have been hit by the recession. Tell them you need to ask them to reduce your interest rate to 0. If they won’t do this, ask for a supervisor. Keep after them. You may not get it done in one call. Make it clear that you want to pay and you don’t want to have to declare bankruptsy.

Use patience and your goal (to reduce or eliminate interest) to wear them down into “helping you.” However, be willing to stop using your credit cards.

Begin a systematic way of paying the most on your highest interest credit card until you have paid it off. Pay the minimums on the other cards until you pay the highest off. Then, attack the next one. Do this until you have eliminated the debt.

WEALTH-BUILDING

Remember:

1. Build your emergency savings.
2. Join your 401k.
3. Reduce and eliminate debt.
4. Look to purchase assets (those things that can produce more of their source element or generate more wealth without your help).
5. Add regular and automatic investment into a Roth IRA or individual IRA to suppliment retirement investment. 401k and social security will not be enough.

EDUCATE YOURSELF TO TRUE FREEDOM

You can do the most for yourself simply by using the internet and your local library to help learn how to save more each month and invest wisely for your future. Little amounts matter a lot.

You can check out other free blog at http://www.stickyasset.com/blog (where you can sign up in the e-mail window for the FREE monthly e-saver) and join our FACEBOOK GROUP called “Live The Lifestyle Your Family Deserves.” Just search for it on Facebook and join for free!

You can also purchase “How To Survive Any Financial Crisis” for only $4.95 for a limited time only at http://www.middleclassmoney.com. It is the only thing we sell on any of our blogs or groups, and $4.95 is the price that’s right. We know we could charge more, but we want to be accessible to anyone who truly has an interest in learning the true secrets of the rich when it comes to dealing with money and producing wealth. Our message: It does not matter who you are – you can build wealth.

Thank you for reading our little blog. And good luck!

Loyd Ford
http://www.boostmywealth.wordpress.com
http://www.middleclassmoney.com
http://www.stickyasset.com/blog
http://www.stickyasset.com
http://www.squidoo.com/boostmywealth

Why Your Family Should Be Saving Money Like Madness

black clouds

On Friday, more news about our economy uncovered only:

1. Consumers account for 70% of the U.S. economy, and consumers are “under water.” Their homes are not worth what they once were. They can’t get credit, and they are seriously in debt. So, you are literally seeing the end of consumer ability to overspend and support the American economy.

2. No top line growth as companies are reporting earnings on Wall Street. This means the companies are achieving growth thru cuts and reductions.

3. Housing default rates are still “blowing up.” While you can see positive signals if you like, this isn’t one of them.

4. China and emerging markets will see boosts in productivity, investment and growth. The U.S. will have to eat it’s debt and remove the entitlement society to be able to get back in a productive groove.

What does this mean for you? It means things are going to slow down. No amount of positive thinking or hope will fix that. Taxes are going up and incomes are going down.

That means you should control what you can. If you have a job, you should:

1. Work to save 20% of your income in high-interest savings vehicles (that are FDIC-insured). If you can’t start saving 20%, start by saving only 1% of your next after-tax paycheck. Then, increase it each time you get paid by 1% until you reach 20%. This slows any shock to your lifestyle while giving you opportunity to save.

2. Reduce and eliminate debt. Forget about the “patriots” asking you to support the economy. You better focus on your family economy and the future (which is unlikely to be as bright as it is today unless you get with the savings and investing goals of your life).

3. Focus on building assets. Be brutal. Focus on assets that can reproduce themselves. If you need help with this one, check it out in “How To Survive Any Financial Crisis” at http://www.middleclassmoney.com. It’s only $4.95 and it is the only thing we sell of any kind.

4. Educate yourself on saving, investing and passive or additional income for the purpose of the above 1, 2, and 3.

Join our FREE Facebook group “Live The Lifestyle Your Family Deserves.” All we ask is that you invite at least five other Facebook friends to join when you lock in your FREE membership!

If you would like to get your own FREE monthly e-saver to help your family save money and grow assets, sign up in the e-mail window at http://www.stickyasset.com/blog.

Thank you for reading our little money saving blog!

Loyd Ford
http://www.middleclassmoney.com
http://www.stickyasset.com/blog
http://www.stickyasset.com
http://www.squidoo.com/boostmywealth
http://www.boostmywealth.wordpress.com

Join “Live The Lifestyle Your Family Deserves” on Facebook. It is our free Facebook group you and your family can join today!

5 Keys To A Better Financial Life

wall street flags

My father is famous in our family for always saying , “Who is this THEY?” You know – THEY are telling us to do this or THEY say you should do so-and-so.

The truth is that the politicians and the greedy corporate leaders believe that WE will ALL move together like a herd. THEY believe we will largely do what is expected in our behavior. THEY believe that we – for the most part – will not change. THEY think they can actually manipulate us.

We sometimes – especially in groups – follow blindly a political figure or a political ideal. We sometimes just “go along.” We “salute the flag” on Wall Street or just the flag in general. The real truth is our flag and our patriotism is larger than any poltical group that controls it temporarily.

I know. We are not a political blog, but we are concerned that most Americans are not putting in time working on financial balance.

1. You should work to learn as much as possible about normal and unique ways to save.

2. You should work to learn as much as possible about investing – all kinds – and ways the rich build wealth. These techniques are not magic – they are strategies that work.

3. You should work to learn as much as possible about anyone who is advising you in financial matters. You should spend time understanding each thing they tell you – or don’t do it.

4. You should work to recognize that emotion sells almost everything that is sold. Learn how to shift emotion from you (the purchaser) to THEM (the merchant or seller). If you do this, you will save more than you thought was possible.

5. You should work to learn as much as possible about ways to reduce and eliminate debt. This will help you free up money to apply to the production of wealth.

We discuss these issues regularly on this blog and http://www.stickyasset.com/blog (where you can sign up for the free monthly e-saver – look for the e-mail sign-up window). The only thing we sell (of any kind) is “How To Survive Any Financial Crisis” at http://www.middleclassmoney.com ($4.95 for a limited time only).

These are the biggest things you can do to break away from the behavior THEY expect. You are responsible for what happens to you and your family. If you look at saving as an option, you will be in potential trouble later in life. If you don’t learn and build your own plan to have personal financial success, you very likely WON’T.

The laws in the beginning of this country were set to help you. They’ve been modified. Now we struggle against special interests and the lobby for this powerful group or that one. Now you have to do your research and you have to manage adulthood personal finance. That’s it.

Join our FREE group on Facebook called “Live The Lifestyle Your Family Deserves” and invite others you love and care about to join.

Our purpose is to encourage people to develop their own plan to save and invest regularly and automatically. We encourage you to study how to remove emotion from purchases and move that emotion to the hands of the seller. We encourage you to negotiate. Don’t be embarrassed – smart people NEGOTIATE.

Watch fees. Keep an eye on small money. People always want the big score, but the truth is SMALLER than that. Learn all you can about saving and investing. It is powerfully important.

Finally, the most important key: START. If you have not begun to save regularly and automatically, START.

Thanks for spending a moment with us.

Loyd Ford
http://www.middleclassmoney.com
http://www.stickyasset.com/blog
http://www.boostmywealth.wordpress.com
http://www.squidoo.com/boostmywealth

Join the FREE personal finance group on Facebook called “Live The Lifestyle Your Family Deserves.” And all we ask is that you invite others to join, too.

Stack Your Money Automatically

stack of money - coins

Money does not solve all problems. Money can bring your problems toward you faster than you think. The key is to bring balance to your life. That does not usually happen with a big lottery score.

If you want to be successful in life, strive for balance. That includes making regular savings anything but optional.

Automatic savings is the very best way you can claim your place at the table of balance. You should be saving because you want to have options for you and your family down the line (beyond today).

Reduction and elimination of debt (especially credit card debt) is essential to long-term security. Then, building and purchasing assets instead of liabilities that tie you to the grown.

Want the inside secrets on saving more and wise investing in any economy? Sign up for your FREE monthly e-saver @ http://www.stickyasset.com/blog. Go to http://www.middleclassmoney.com and purchase “How To Survive Any Financial Crisis” for only $4.95. Join our FREE group on Facebook: Live The Lifestyle Your Family Deserves.

Thank you for reading our blog. Want the best advice you will ever get?

Don’t wait. Seriously. Don’t wait.

Begin now. Start. Go. As Nike says, “Just do it!”

Loyd Ford
http://www.stickyasset.com/blog
http://www.boostmywealth.wordpress.com
http://www.middleclassmoney.com
http://www.squidoo.com/boostmywealth

How To Avoid Poverty To Come

welfare

Who wants to sign up for Welfare? Anybody?

The worldwide global financial slowdown (meltdown) is possibly going to impact you and I for decades to come. Employment experts in the U.S. are already talking about the joys of freelance work. I wonder if they will talk about the joy of poverty when millions of Americans realize they cannot get acceptable wages anymore?

Probably not.

There’s no doom and gloom here, but everyone who has a job today must be thinking about tomorrow. While the vice-president reminds us of how patriotic it is to pay higher taxes and the Republicans talk about how they wouldn’t have raised taxes (when anyone would have to raise taxes across the board to fund our issues right now), you must focus your family finances. You must have a plan to store money away and get that money working for you. If you don’t, you will very likely end up in poverty.

Welfare.

It could happen to you. People that don’t think they could lose everything are crazy. The global meltdown could change the way and speed at which money is made over the next three (3) or more decades.

You must make your moves now.

If you have a good paying job now, you must begin with a plan to have a proper emergency savings fund: 15 to 18 months of expenses in high interest savings vehicles. Find your FDIC insured institutional partner at Bankrate.com.

We recommend you build six (6) months of this savings in money market savings accounts and then use the balance up to the 15 or to the 18 months of expenses to build six (6) month certificates of deposit. You don’t want to do more than six (6) month CDs because of fluxuations in interest rates.

Why have 15 to 18 months of expenses in savings? Because you may need that to replace your income, and having that savings will change your mindset. You will not be in a panic. You will have time to choose wisely and work to improve your situation. That’s what you need in 2009.

BEGIN WORK ON THIS RIGHT NOW:

Review your expenses over the last three (3) to six (6) months.

Cut any expenses you can cut and call everyone who you pay anything to and ask for a reduction. Tell them that you have suffered some financial setbacks (we all have) and you must reduce your “bill” by 10 – 15%. Ask for their help.

When you “win” a reduction in a bill, put that savings IN SAVINGS. Or you are defeating the purpose of this exercise.

Review your credit card debt. If you have any, work to reduce and then eliminate it. If you need a system for that, you can check out our system for that in “How To Survive Any Financial Crisis” available at http://www.middleclassmoney.com.

Review your pay. If you have to begin by automatically saving only 1% from your next paycheck and then increasing that savings each time you get paid or once a month by an additional 1%, get going on this. Your goal is to reach 15% savings off-the-top of your after tax paycheck. You can do it if you plan ahead.

You can set up automatic drafts in your checking account or thru your employer before you even see the money. Or do both! Time is wasting! Get this train moving and you will be glad you did.

Use any excuse to remove money from your checking account (*a checking account is a money laundering account for other people’s money) and put that money in a high-interest FDIC insured money market savings account.

Put yourself to work in your spare time. Educate yourself on negotiation. You’ll need it in the next decade of your life, and if you don’t use it…you are being foolish.

You don’t think rich people negotiate? Of course they do. You can, too. And you should. You must.

If you haven’t done so already, join our FREE Facebook group “Live The Lifestyle Your Family Deserves™. Sign up for our FREE monthly e-saver at http://www.stickyasset.com/blog.

Educate yourself on the new tactics of spending less and saving more.

Time will move no matter if you move to save or not. If you choose to get moving and develop your own strategic plan for saving automatically, you will be the winner.

You’ll be glad you did, and it may help you avoid the poverty line. What is worse than being young and broke? Being OLD and broke. Don’t let it happen to your or your family. Involve them. Teach your children. Grow wealth.

Thanks for spending a few moments with us.

Loyd Ford
http://www.stickyasset.com/blog
http://www.middleclassmoney.com
http://www.squidoo.com/boostmywealth
Join our FREE Facebook group “Live The Lifestyle Your Family Deserves™.”