Tag Archives: financial crisis

Teach Your Children Well

teaching
What can you do with your kids to make sure they think about how to form their own attitudes about money, saving, investing and growing wealth?

Many have said the different between the rich and the middle class is that the rich teach their children the use of money, saving and investment.

Try this:

Give your kids an allowance, but make sure you also make them responsible for purchasing something important for your household within their allowance each week or month. Talk with them about how they spend their allowance and make regular savings a part of each “paycheck.”

Talk with your children about where they save money, how much they save (percentage) and what the purpose of the savings is as well. A lot of parents will want to say, “Hey, it’s not fair giving them an allowance and making them spend some of it on the households.” But it is fair. More than this, it is critical that you help them understand that they will have to purchase things with money in the long-term. You should also make them aware of your expectation of them: That they will save 20% of each paycheck to build their own emergency savings. That you expect them to save each “paycheck” (allowance). This builds their own expectation for themselves.

If we don’t teach our children to save, they won’t save. They won’t prepare for the bumps in life, and they will be catching up like us.

SAVE MORE THAN MONEY

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

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Now Money – Later Money

money grabber
Fast money is hardly ever money that lasts.

People always want the shortcuts. How can I get rich quick?

Think about the things in your life that have real value. If you want to become wealthy because you think it will solve all your problems, you are probably wrong. Money equals choice. There is nothing wrong with using money to do good things for your family and the people you love and care about in your life.

If you are reading this blog for the first time, chances are you are starting to think about how you can find and apply principles that will help you and your family save more money. This is an excellent place to start. Our blog today is not going to tell you a secret. We will tell you that the first secret is out in the open.

That secret is “begin.”

And remember that the more you sacrifice now and trick yourself into pushing more of your income to savings for later, the more you will truly build wealth.

Spend some time thinking about how you want to build your financial life. Start building your own plan from the ground up. You can do it.

Make a difference in the lives of your own kids. Take a stand and recognize that the corporate world is geared against us in the middle class. However, they need us as much as we want some of the things they tempt us with.

So, today we start with this word: START. You can do it.

GIVE YOUR KIDS A CHANCE YOU NEVER HAD

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

Don’t Fall Down With The Media

panic falling market

Most people are thinking about the ride down the economic wash out. The news is always bad. The focus is on job loss and forclosure. Yuk!

Now is your great opportunity to focus on rebound, a surge, a renewal. The best way to do that is to review your financial situation.

Start with “Do I have a job?” If you do, you’re lucky. If you have a job, that means it will be easier for you to save money than if you didn’t.

Don’t allow yourself to be overwhelmed by the bad news in the media or the job market or the difficulty with raising money for savings. Just begin a process where you review all of your expenses over the last three (3) months.

Look for ways to cut expenses – totally or with each bill you have by 10 – 15%. Naturally, you won’t be able to cut some bills. However, you will be surprised how you can cut many of your expenses back. Now comes the difficult part – you must take what you’ve cut (the amount) and shift that every month going forward into savings.

As this recession hangs on, you don’t know about your true job retention or loss in the future. You must focus on increasing savings.

You should work to build 15 to 18 months of expenses in a money market savings account that is FDIC-insured. (Actually, the first six months should be in this account. The balance should be put in six month only certificates of deposit – check Bankrate.com for the best locations for your money to to to work for you).

Time will continue to roll. In six (6) months you will either have more savings and feel better about what you’ve done or still be sitting exactly where you are today. Which do you want?

Get started – you can do this!

For more information on creative ways to save and invest, go to our main blog at http://www.stickyasset.com/blog or check out our e-book “The Sticky Asset: How To Survive Any Financial Crisis” at http://www.stickyasset.com.

Good luck!

Loyd Ford
http://www.stickyasset.com/blog

Why You Must Start Now

"The clock is running." When it comes to saving and investing, time is your enemy (or your friend). Delaying is a nightmare that you will see later in your life. If you have children, one of the most important things you can ever do for them is to teach them to save a strong percentage of their income from their first part time job all the way thru their lives. If they establish that saving is not optional early, they will be wealthy on the back end of their lives (when they will need money the most).

Americans focus on education. Get into a good college. Get the degree. But most American children don’t get a good education in personal finance. As a result, they often feel saving and investing is optional. Even if they discover the importance of saving and investing, it is often after 40. Remember what we said about time and money?

We preach this all the time: save and purchase dividend producing assets early and you will be saved from a lot of crisis later. Instead of the lifestyles of the 80s and 90s, we should be focused on owning assets that produce more assets. It is as simple as that.

For most of us, we wish we have begun saving and then investing earlier. Consider that time + regular and automatic saving + automatic and regular investment = wealth creation.

Most everyone is looking for the fast way to wealth. Most of us will never play in the NBA, NFL or MLB. Most of us will never stand in front of 25,000 people singing our greatest hits. Most of us will never win the lottery. However, there are paths to gain access to personal stability and wealth growth.

If you don’t have a proper emergency savings fund, start. It will build faster than you think. We believe a proper emergency savings fund is 15 – 18 months of expenses. That breaks down like this: Six months of it should be in pure cash (money market savings). The balance should be in laddered certificates of deposit so that you are earning as much as possible but remaining as liquid as possible.

Even though people are down on their 401k investments, you should participate if you company has a program. However, the new days ahead will involve happiness for those who launch a Roth IRA with steady savings in addition to their 401k and contributions to emergency savings.

Every penny you save matters.

It will build faster than you think. GET STARTED.

Thank you for reading our blog. If you want, you can get our FREE monthly e-saver by going to http://www.stickyasset.com/blog and signing up in the e-mail block at the right-hand side of our main blog!

Loyd Ford
http://www.stickyasset.com/blog

Life Moves When You’re Not Watching (Why Strategic Savings Work)

You’ve seen the national insurance company say, “Life comes at you fast!” It’s funny, right? Well, it can be funny if you are prepared. Are you prepared? Let me explain.

It’s easy to look back on the moment you met your wife if you’ve been married for twenty years. How about looking back on your graduation from high school or college? Remember the moment you had your first kiss? How long ago was thall that?

Time moves faster than we are regularly monitoring. The longer you live the faster time seems to “slide right along” as a friend of mine says all the time.

If you develop a strategy that depends on automatic and steady savings, you will learn over time that it adds up faster than you think. Thinking strategically about problems like proper savings, automatic ways to save thru work (payroll) or home (checking to savings transfers) along with investing in low cost no-load mutual funds (once you are reached your proper emergency savings fund), will make your life better over time. This is because you will have more options.

If you have a job today, you must not see savings as an option. You should build your own plan to boost savings thru automatic savings. Seek out resources like this blog and http://www.stickyasset.com/blog to help you build the path you want to take.

Good things and bad things happen to everyone. You can’t change that. You can change how you react to those events of your life. That means planning to succeed.

One thing is absolutely certain. Time passes faster than any of us thinks about it. Time will move along. Thinking strategically and building a plan to save and invest wisely will make you the genius in your family. More than this it will build a safety net for your family and make your eventual retirement easier on you.

Your life shouldn’t be about a crisis. Your life should be about a plan. That will help you enjoy your life with your family. If you want more help, check out the e-book “How To Survive Any Financial Crisis” at http://www.stickyasset.com and continue to do your research on personal finance on the internet. It is good investment you are already investing in now!

It’s the best gift you can give yourself and your family.

Loyd Ford
http://www.stickyasset.com/blog

Have you seen the VISA commercials “GO”??

                  You’ve seen them.  One of the commericals has Italian music and flying pizza with red and orange fire flashing before your eyes.  Morgan Freeman and his smooth delivery comes on and says, “When’s the last time you caught dinner AND a show?”  The pizza is pulled from the white hot oven and you see the word “go.”  A VISA card on one of those little restaurant payment folders comes on screen next and Morgan (who I love) says “VISA debit is easier than cash or checks.” 

                   Stop right there.  You see how culture overcomes common sense.  Is there anything wrong with eating out?  No.  Is there anything wrong with VISA?  Morgan Freeman?  Debit cards?  No.

                    Does using a VISA, Mastercard, American Express or a debit card make it easier for you to spend MORE MONEY THAN YOU WANTED TO SPEND?  Yessss.

                     No, we’re not making this up.  The percentages can be large.  It seems that having the easy plastic does not seem like spending real money.  It causes money (which is slippery at best) to become so slick you don’t even recognize how much of it is slipping from your fingers.  You just focus on the pizza and the good times.  Let the good times roll.

                     Why is it that a great company like VISA would use someone who has played God in a movie to project that they are your friend and will help you to have an easier life?  Because it works and it is the path for them and all of the merchants who want you to spend more, more, more to reach you and change your attitudes about spending for ease and pleasure. 

                      Hollywood is fun.  It’s just not in the business of telling the whole truth.  We will.

                      Welcome to the era where consumers have to take more control of the process of what you do with your money.  Beware of the real enemies of savings and investing for growth of assets.

                        For more ways to save and be aware, you can go to our main blog at www.stickyasset.com/blog, join our FREE monthly e-saver or simply check out the e-book “How To Survive Any Financial Crisis at www.stickyasset.com.

                        Good luck!  It’s a jungle out there (even when the jungle comes to visit you on the TV in your living room at home)!

                          Loyd Ford

                           www.stickyasset.com/blog