Dictate or disappear?

Dictate or disappear? That's what happens if you don’t budget and dictate where your money is going. It disappears.

You have to make a budget. Dave Ramsey (www.DaveRamsey.com) says, "Spend every dollar on paper on purpose. Give each dollar a name."

Take control of your money, it's critical to your success.
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Bragging about your possessions

If you're bragging about your possessions better make sure you own them first.

Friend of mine drove up in a brand new car and asked me what I thought. I said, "nice car."

He then said, "I got a great deal on it as a lease. Good idea, huh?"

You can imagine the floodgate that opened up!
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Only you can change you

Losing weight, quitting smoking and getting out of debt cost nothing to do, but only you can do them.

Only you can change you and the three goals above are all on you.


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Don’t say the words

Don’t say the words “investment portfolio” until you can say “debt-free.”

Investing while in debt is spinning your wheels. More is going out than is made on the investment. Plus, your investments are at risk.

It may seem like you're missing out if you get out of the market, but you're actually gaining with every dollar of debt you pay off as you get an instant return equal to the interest rate affixed to that debt.
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"SAVE"

"SAVE" is a good four-letter word.

The saving rate in the United States is horrible. Don't be a statistic. Better yet, do your part and be one of the odd ones. Actually live on less than you make, have no debt, and save some of what you take home.


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Debt kills families

If you had to come up with an amount of money to save the life of a loved one you would do anything legal to do it, right? Sell stuff, work overtime, take on an extra job? How about saving your own, or your family's financial life? Isn’t that the same thing?

Debt kills families. Money problems is the number one cause of divorce. Never let debt or money problems interfere with your home or the lives of those in it.
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Spending money you don’t have

I didn't say I’m against spending money. I said I’m against spending money you don’t have.

Refuse to use other people's money. Refuse to pay interest on anything other than a home loan or student loan. Refuse to take on debt to solve a problem.

You will find if you "refuse" enough you will have plenty to spend on things you want. And, it will be your money you're spending, not someone else's.
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Landscaping

In my world a “hedge fund” is what I tap into for landscaping.

Hedge funds are an investment vehicle used by some people who use other people's money to bet against the market in hopes of pulling off a quick profit.

Confused yet? Me, too. That's why I use my "hedge fund" for the landscaping.
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Don't be insane

Albert Einstein once said, “The definition of insanity is doing the same thing over and over again and expecting different results.”

Don't be insane and keep running up those debts and expecting to get ahead.
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"Work at home"

Never pay someone in order to get a job. That rules out most of the "work at home" schemes, huh?

Watch for red flags. While it's not impossible to get emails out of nowhere offering work at home opportunities, the offer shouldn't require you to pay a fee before you start work.

Ads claiming "quick riches for hours a week" should make you want to run for the hills!

Do your research, it will save you money.
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Dream house or a nightmare

If you can’t afford a 15-year mortgage, and the total monthly payment (principal, interest, taxes, insurance) is more than 25% of your take-home pay, you can’t afford the house.

Remember, you should be debt-free when the home-buying process begins.

Do you want to own your dream house or a nightmare?
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Paid-for food tastes better

Paid-for food tastes better. Don't use credit cards for groceries or dining out.

Of all things that should be paid for in full it's food.



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Debt-free makes you rich

Being debt-free makes you rich no matter how much you have in the bank.

A millionaire leveraged to the hilt is worse off than us regular Janes and Joes who own what we have and owe no one a dime.

No one can repossess our cars that are paid for or foreclose on our homes that are no longer mortgaged.

If anyone takes anything from us it's called stealing.
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Stop spending what they don't have

Ultimately, I would like to put debt counselors and coaches out of business.

If everyone would stop spending what they don't have, become debt-free, live on less than, or at least on what they make, I might realize my goal.

Want to help by becoming one more debt-free person I don't have to worry about?
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Reverse mortgage

A reverse mortgage is a loan.

Don't be fooled by the commercials and brochures pitching it to you any other way. You are borrowing money against your home and paying way too much to do it.

There are less expensive ways to use the equity in your home if you absolutely have to, and I mean absolutely have to. Your equity is sacred, protect it however possible.

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The IRS

Don't mess around with the IRS. They don't play games.

If you owe the IRS money, contact them and work out a payment plan. They will not go away if you ignore them.

The IRS will never call you to initiate contact. They will always send a letter. Scammers call or e-mail, the IRS doesn't. Don't fall for it!
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A piece of plastic

I have a piece of plastic that says VISA on it, and the deal I have is 0% interest.

The card also has the word "DEBIT" on it.

When I use that card, I pay for the purchase in full. I walk away happy and the merchant is happy. Why complicate this evolution?
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The neighbors

The neighbors you're trying to keep up with are probably broke themselves.

Don't let appearances fool you. Those who have it generally are pretty quiet about it and don't feel the need to put on a show. Who would you rather be?

Keeping up with the Joneses gets you absolutely nothing in return. And, if you ever do catch them you might be surprised to find they're up to their ears in debt and broke as can be.
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What is debt good for?

Question: What is debt good for?

Answer: Nothing.

Owing money is never a good position to put yourself in. Sensible student loans or home loans are an exception, but they aren't to be kept around forever.
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Debt-free world

In the debt-free world being able to afford something is not referring to affording the payment.

Being debt-free is also swearing off any new debt. Being debt-free means not making a purchase on time or credit. Being debt-free means you are wielding a powerful weapon in any negotiation. That weapon is CASH.
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Priorities and responsibility

I've heard it said that if you gamble enough you come out even. If you don’t gamble at all you do the same thing.

Those who gamble can save the justification.

Those in debt who gamble are idiots.

Those in debt with families to feed who still gamble are the lowest of the low.

It is a matter of priorities and responsibility.
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"Paid-for" cars

"Paid-for" cars get better gas mileage.

Not really, but it sure feels that way.
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Spending-based

Cable, satellite dish, internet, cell phone, lottery tickets, cigarettes, alcohol, lunch out, dinner out, travel, not paying attention to your shopping, etc, etc.

So, you're broke huh? There may be a problem here but it may just be in your mirror.

Your problems may be spending-based not income- based.

Or, as my grandparents used to say, "You have champagne taste on a beer budget."
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Make money

Make money, don’t buy it.

If you buy on credit you are agreeing to buy money from someone else and pay a fee (the interest rate) on top of it.

To continue the lunacy, you give money to yet another party to do or buy something you can't afford to pay for in full.

Confused yet? Don't be. To sum up, stay at work and make the money first then spend YOUR money, not someone else's.
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Cash or debit never credit

Cash or debit never credit. Cash or debit never credit. Cash or debit never credit. Cash or debit never credit.
Cash or debit never credit. Cash or debit never credit. Cash or debit never credit. Cash or debit never credit.
Cash or debit never credit. Cash or debit never credit. Cash or debit never credit. Cash or debit never credit.

That about sums it up.
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KISS

Keep It Simple Stupid (KISS) Tip of the Day:

Yahoo Personal Finance has a financial glossary. I’ve found that if I’ve never heard of it, or don’t understand the explanation, it probably doesn't affect me all that much.

Finance is simple. The more complicated you or others make it, the higher the risk.
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Debt debacle

People in debt cause your investments to suffer.

You don't have to look far to see how the debt debacle in 2008 destroyed the market and the economy.

If you are out of debt but not trying to help others see the error of going into debt you are part of the problem as well.
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The average credit card

The average credit card debt per household is reported to be $9,000 and rising. This is spread over an average of up to nine cards.

For once in your life, be below average.
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Keep what you make

Keep what you make. Get out of debt.

If you have debt you're working for others. Don't be a borrower and slave to the lender.
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Don't be a fool

Don't be a fool, get out of debt.

Happy April Fool's Day!
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