Delayed Gratification Can Save You Money

There has been one question lately that I have been thinking about primarily because of a Dave Ramsey workbook that I am contemplating is what would you do with one million dollars? Imagine someone coming up and handing you a check with 6 zeroes behind the 1 and how would you spend it? Would you give a portion away? Would you blow it? Would you invest it, what exactly would you do?

In that same workbook was a statistic from another book stating that highly successful people tend to be more proactive than others. If you, like I have found myself in the past, are more reactive when it comes to your money then how likely are you to keep the million dollars within 1 year? Within 3 years? Within 10 years?

The answer may surprise you as many people who come into money go out of money because of poor spending habits. Let’s face it the society we live in is based primarily on the instant gratification rule. Meaning if I want something I want it now and when I say now I mean yesterday. I have found myself to be guilty of making snap judgments when it comes to the world of money. Those quick decisions have typically led me to a dead end battle to wage on in this thing we call life.

I look at delaying the decision making processes on wants to be fruitful and rewarding. Normally what I would view as a gotta have, well, that feeling subsides within 24-48 hours and I find myself being relieved that I did not give in to a spur of the minute budget breaking expenditure.

Savior Obama Keeps Trying To Get It Right

Savior Barack Obama and his administration have planned new efforts on battling foreclosures and helping people remain in their homes. The objective is to increase the rate at which troubled home loans are converted into new loans with lower monthly payments. I can hear the people singing and dancing in the streets right now how they taught the government a lesson.

What that lesson is I am not for sure but I have continuously heard people say if I can’t pay my bills then President Obama will help me out. I was watching a local news station and a woman proudly announced, “President Obama will help me with my mortgage.” I couldn’t help but think to myself are you crazy? Are you that nut? 

My parents taught me that it takes responsibility to live an achieving life. Stay within your means, do not rely upon credit cards, pay cash were common methods my dad wanted to instill in me. So my entire thought philosophy goes against what Savior Obama is preaching.

Somebody help me understand as he is rewarding bad behavior. Oh YOU took out a loan that YOU couldn’t afford and YOU expect the government to help YOU out. There are tons of excuses from predatory lending to unemployment but what about the people who are paying their bills? What about the people who have done whatever it takes to make sure their necessities and creditors are paid? Obama forgets about them because it’s easier for many people to ask for a handout than to pull themselves up by the boot strap. What’s Obama get out of this? It’s not being a Savior but his reward comes at the ballot booths in votes. The more he gives away the more likely he is to lock up more votes even though he hasn’t accomplished truly anything in the near year he has been in office.

Seek and Destroy

My wife was able to negotiate a lower payment arrangement with our cable provider which allowed us more features than we had before and I just wanted to say how proud I am of her.  In our previous 6 years of marriage we had never had DVR or many of the movie channels.  Well that is until recently when Mindy took her negotiating skills to task and was able to get us more for less.

What can I say?  How can I complain?  Now it’s no big deal if we have something come up and there’s a television show we want to watch but we’re too afraid of missing it.  Wow it sounded great until I realized the big game is gonna be on next Saturday and we’re scheduled to go to the in-law’s house.  Maybe I can convince her I need to watch the game live. 

With the DVR I have taken full advantage of recording Dave Ramsey’s shows and have spent the majority of the weekend watching them.  Amazing how hearing other people’s success stories can motivate a person to achieve their own dreams.  That’s what I am here for to zero in on personal debt and destroy it.  I will be debt free and I will work my budget off to get there.

Picking Myself Up From Falling

The 2009 year is almost over and my question is what kind of year did you have?  Did you meet your financial goals?  Did you fail to meet them?  What did you accomplish and what would you have liked to have accomplished?  In looking around and taking a hard look at my own life I see the misfortunes that happen to a lot of people.  I was gung ho about starting on my budget ready to become debt free and when the movement was not fast enough for me what happened?  I stop paying attention and when I stopped paying attention I fell back into the same ole rut I was previously in.

Now I’m not saying that I am going to be on here everyday but during my sabbatical from this blogging site I re-evaluated my budgeting skills.  What I found was quite alarming as I had done everything the financial guru’s had said to do.  Get a budget and put it into writing however even though the budget looked good on paper there was one key ingredient that I had left out. 

My bills are all due at various times in the month and to say that my rent is ‘x’ amount of dollars for December, January, February, etc. sounded good but reality was I might need to pull from my November checks to pay for my December rent.  Already off the bat my beautiful budget that I had meticulously figured out days in advance was shot.  It was done for so rather than be intelligent about it I took the stupid approach as the paper, pen and calculator went flying.  My new approach will consist of breaking down the bills by pay check.  I believe if I would have been doing this all along I would have positioned myself not to have gotten frustrated but to have been in control.

I want to do this right and I want to make sure that I am set up to succeed.  In doing this comes my part in making sure that I stick to the budget.  During this same time period I will begin a work out regiment with the goal of losing weight.  As long as everything goes as plans my waist line will be getting smaller as my bank account grows. 

The advice that I have for anyone who has started a budget only to find themselves giving up is to hold off on the negative feelings.  I’m beginning this walk and I’m inviting you to join me.  If you have something to add as a suggestion, comment or just want to make your presence known feel free to let the blogosphere know.

Most Millionaires DO live on a budget

I came across an article tonight posted on the Yahoo! Finance page entitled, “Now Even Millionaires Can See the Benefits of Budgeting” and was written by Paul Sullivan on Monday. The title took me back a little when I thought about how asinine this title is as an overwhelming census seems to be that millionaires can spend money like it’s going out of style and not worry about the repercussions of living on a budget.

From the research I have conducted in trying to live a debt-free lifestyle the one common factor I am finding out with millionaires is that these people are more money conscious than the working folk in society. Truthfully the millionaires living next door did not achieve this wealth by spending money in a fury and did so by watching their every penny.

The large majority of millionaires in our society did so over time and did not become a millionaire instantly and maintain their wealth. Sure there are people who were the beneficiaries of winning the lottery, inheritance, etc.,  but a lot of these people spent their money while not living on a budget. The thought process behind this title seems to be derived from the theory that those rich people can spend money whenever and on whatever they want. This is a myth that holds no validity in most cases.

The smartest and wisest thing Mr. Sullivan offered in his article is that “…a budget isn’t a bad idea.” How true this is and the goal of achieving financial securities in the future is exactly why I am budgeting now. Spending wildly is what got me into this mess and spending wisely will get me out. Folks, the millionaires in our society didn’t get rich over night and the smart ones will not go broke over night either.

I Finally Woke Up

So it’s been awhile since I last posted on here and I’ve decided it is time for me to start blogging again concerning my desire to live a Gazelle Intense lifestyle.  The ironic thing about the finances is that when I started ignoring this web site truthfully I started ignoring my finances and I look back at what was my plan and I realize that I neglected what I should have been doing.

Well here I am and now I want to make a difference.   Instead of talking the talk I want to walk the walk and I plan on using this as my outlet.  Since the last time I posted here the emergency fund is gone that I once so proudly had and there have been adjustments in our household income.  I had always heard that a person would adjust either up or down based off their income and I can attest this is 100% true as I have received a couple of promotions in the past few months and the income started to grow.  Ironically as the income grew the monthly bills started growing as well, maybe I should clarify this a little more.  The monthly bills didn’t necessarily grow as much as what my monthly wastefulness did when it came to the income.

My wife has taken on a part-time job on top of her part-time job babysitting our nephews and nieces and I must say this makes me very guilt stricken.  If you go back and read further posts you will realize there was a time that I had a full-time and part-time job to help make the month meet ends.  Right now I am still trying to learn the nuts and bolts of my management position at work and my work schedule has been so unpredictable that having a part-time job would be next to impossible.  Anyway, here is to the start of my journey back to living a Gazelle Intensity lifestyle in becoming debt free.

Businesses Following Trend Of Consumers

 

Tonight’s post revolves around the thought process of people not wanting to make good on their debt.  The notion has become a socially acceptable norm that consumers can have accounts fall delinquent but apparently a new trend is taking place across our country.  This new trend involves businesses not paying their bills and is leading to an increase in third party collections.

 

Prior to the times we are in consumers have always been typically slow to pay their bills but now businesses are following the same trend.  My question is why are Americans failing to make good on their commitments?  I am just like anyone else who owes monthly bills but I do not turn on the news hear the latest economic fiascos and think to myself, “I don’t think I’m going to pay my bills.”  Yet I feel as if I am the outcast in society because I am concerned with paying my bills.

 

I’ve worked two jobs, I’ve cut back on costs where I can and I’ve honored the commitments to my creditors.  However people across the fruited plain are throwing in the towel refusing to step up to the plate to make good on their promises.  A wise person once told me that successful people have two things in common; they do whatever it takes, every time.  Now is the time for these dead beats to do just that, do whatever it takes every time on their bills.  Economic crisis solved.

America: Poor Are Rich Compared To Rest of World

 

The great United States of America has been the goal and passion of immigrants throughout the seven continents.  The thought process was and will always be if I can get to America the life of opportunity will exist.  Yet in reading the Internet news I stumbled across an article pertaining to young children feeling partially responsible for the economic woes we are currently facing.

 

The article gives a couple of examples of teenagers who are working to help their families make ends meet, but I am struggling to see the importance of the story.  The reason being is because even the poorest Americans are much richer than the majority of our world’s population.  Don’t believe me, just think about.

 

The majority of our citizens’ enjoy the luxuries at minimum of the following:

• Indoor plumbing
• Running water
• Multiple televisions/radios
• Heating (wood stove)/Air conditioning (window units)
• Automobiles

 

This is just a quick and very small list to compare our poor to the rest of the world, but the point is we have a lot to be thankful.  What is going on around us proves that we have lived in a society promoting living beyond our means.  What a shame these teenagers are making more money in one week working at McDonald’s than the same age teenager is making working harder and longer in a foreign country. 

 

The sad truth is too many Americans squander the money received on a regular basis and who do we have to blame?  Simple, there is no one else but us when it comes to the personal financial struggles of the average family.  Though I wonder what the reader’s thoughts are in regards to the triumphs and tribulations felt by all throughout the fruited plains of America.

Obama’s Pledge Up In Smoke

 

It has not even been 100 days in office and we are already seeing President Obama breaking pledges he had made in his historic race to the White House.  If you are unaware of what I am writing in regards to then the chances of you not being a smoker is pretty high as the largest increase in tobacco taxes took effect despite Obama’s promise not to raise taxes of any kind on families earning under $250,000 or individuals under $200,000. 

I can make a firm pledge…Under my plan, no family making less than $250,000 a year will see any form of tax increase.  Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes…you will not see any of your taxes increase one single dime…”— Barack Obama, Sept. 12, 2008, Dover, N.H.

According to reports Government and private research has found that smoking rates are higher among people of low income.  I have to wonder what the lower income smoking supporters of Obama are thinking right now.  The answer is they are thinking nothing because the media is not calling for the public persecutions of Obama enlarge part to the liberal media bias in our society. 

 

Unfortunately at this point in time I am feeling the costs associated with increasing the cost of cigarettes but who was not prepared for this?  The truth of the matter is Obama will continue to break the pledges he so passionately campaigned upon because he is a salesman, he told the American public what they wanted to hear and now due to the ignorance of the majority we will face the repercussions of that frightening decision.

 

Though I wonder how the low income smokers will cope as smoking is an addiction and when it comes to paying bills or buying a pack of cigarettes many people will set their priorities on the cancer sticks.  This is not an assumption this is a reality and for that we can proudly thank Obama for making the poor poorer.

Holding The Messiah Accountable

A recent poll (The Harris Poll ®, March 23, 2009), was conducted with the majority of Americans (53%) giving President Obama a negative rating with his performance on the economy.  The poll was of 2,355 U.S. adults surveyed online between March 9 and 16, 2009 by Harris Interactive ®.

 

Amazingly enough is the “hope” of younger Americans (aged 18-32) who gave Obama the highest marks with a positive rating of 54% followed by 47% of those aged 33-44, 45% of those aged 45-63 and 44% of the aged 64 and older.  How ironic is it that the older those polled are, the lower the rating it is for Obama?  Who says not to respect your elders?

 

Truth of the matter is there will not be significant changes in the economic state we are in and the changes Obama and his administration want to make will result in taxpayer’s feeling the pinch in their pockets.  I cannot help but chuckle to myself when hearing individuals who are in complete and utter shock in the fact their financial situation is still the same.  I know, I know, but Mr. Slinkard, it’s only been 60 plus days, give it time is probably what you’re thinking. 

 

I am tired of hearing Obama lying through his lips and telling people this is going to take time, this is something that will not cost nothing, for those who voted for Obama and were duped by him, let’s get two things straight, right now.  First, Obama’s well-articulated speeches oversimplified his ability to lead our country in this economic crisis.  Second, when Obama says that nothing is free, what he really means is this is going to cost the American public a butt load of money.  People blamed the Bush administration of using fear tactics to manipulate the American public, but where is the media, where is the groups speaking out on Obama that were speaking out on Bush?  Well, they’re kind of like Obama’s productive economic plan—MIA.