Job Promotion: More Responsibilities Equals More Money

I have excellent news to announce with this post, I would have done so earlier but to say the least it has been an extremely busy week. On Monday it was formally announced with my company that I had been promoted to a management position within my company. Obviously with promotions come added responsibilities and with those added tasks comes the best part, a pay raise.

The beneficial part of all of this is that I have been able to scale back my part time job to almost none with the raise and it is truly a blessing. I jokingly stated that my bed had been missing me, but the truth of the matter is I’ve been missing my family. For those who have not been a reader long enough, prior to Monday I had been working seven days per week since October to allow my wife the opportunity to be a stay-at-home mom. The results were 70 hour work weeks between the two jobs and now I finally have the ability to relax a little and gear up for those aforementioned responsibilities.

The promotion came exactly six months and two days from my hire date and I am ecstatic at the opportunity I have before me. Starting next week I will have more time to devote to my family, to my work outs, to this website, but most importantly to the amount of sleep I receive. In the past four months I have had exactly five days off with three of them coming at the tragic loss of my step-dad and the other being at Thanksgiving and Christmas day respectfully. For those who say the American dream is not about hard work, for those who say let the Government provide for you, I merely suggest doing what I did for myself and my family. Grab your bootstraps and pull-up.

Dave Ramsey’s Thoughts On The Doom & Gloom Economy

I received this in my inbox and thought enough of it to pass it on to anyone who has not read this, it is definitely food for thought.

“I’m tired of hearing all the gloom and doom coming from the media about the economy and unemployment—I bet you are, too! Let’s take a minute to look at the true reality of the situation and what we can do about it.

Yes, many people have lost their jobs and houses. You may be one of them. But guess what? People have lost their jobs and houses even in a bull market. About 93% of people are still employed. That is pretty good! I was alive in the 1970s when unemployment hit double digits, and we’re nowhere near that right now! I’m not making light of the fact that some people are struggling; I’m just putting the situation in the proper perspective.

Even though you may be currently unemployed, that doesn’t mean you have to participate in the recession. People like me who have chosen to not participate acknowledge the reality of a slow economy and suffering people. However, we have decided that we’re not going to form our lives around the negativity coming out of the media and government. We’re intensifying our efforts and going to have the best year of our lives in spite of things slowing down.

Some people who find themselves unemployed will go into new careers or start their own businesses where they have the best year of their lives—professionally, financially and emotionally. Their current job losses are actually blessings in disguise. They believe this and are formulating game plans based on it. I guarantee there are men in their garages right now starting their own mechanic shops. The next Mary Kay Ash is writing up a business plan for new products she’s just created. College students are developing “the next best thing” in their dorm rooms as you are reading this. This is reality!

So think about your skills and interests. How can you leverage those passions into something you enjoy doing every day while earning money for it? If you haven’t lost your job but dread going to work, maybe it’s time to fire your employer and go in a new direction. When you have a game plan for your money and career, you will have a sense of empowerment because you aren’t a slave to the lender (or employer).

When employers start hiring because they believe their businesses will grow, recessions end. Many who have stopped hiring a healthy amount have been paralyzed by fear. They’ve lost hope. People who continue going about their lives in normal ways (without being irresponsible and buying stuff they can’t afford) believe in the future. It’s called hope.

You can have fear or hope. It’s your choice.

I choose hope.”

St. Louis Rally Against Obama’s Stimulus Plan

 

It has been expressed openly in previous post about the feelings we have toward Barack Obama’s Stimulus Plan, but exciting opposition occurred in our home area with critics of the stimulus plan gathering beneath the Arch in St. Louis, MO on Friday to cheer speeches over a bullhorn and toss tea into the Mississippi River.

 

The protest, estimated to be more than 1,000 people, was organized by a few conservative activists with help from talk-radio hosts.  The turnout was on a day with 35-degree weather with leaders saying they had stolen a page from liberal tradition by taking to the streets with homemade signs.  These slogans included, “Pork, the new ‘Red’ meat,” and “King Barack III and the House of the Lards.”

 

The idea was birthed after Rick Santelli, a CNBC market commentator in Chicago, last week called for a tea party to protest Obama’s anti-recession plan.  Santelli’s comments became a YouTube hit, and similar “tea parties” were planned in other cities.

 

Without a doubt the ideas brought forth by Obama and his packaged plan brings forth terror and strikes fear to the hearts of many, this writer included.  Amazing though how very little we hear about the protests that have occurred, could lead one to wonder if news stations report the news or dictate the information they prefer to spoon-feed their viewers?     

Would You Pay $52.84 For 40 oz of Soda?

 

I recently read the average American household has $7,340 in credit card debt and it blows my mind.  I ponder what these people must be thinking and came to the realization that many of these people are making purchases that are beyond the affordability factor.  The other scary thought is that many horror stories I read about is that many Americans are using the plastic to be able to afford every day expenses.

 

This got me to thinking about the use of a credit card, using the plastic definitely hurts less until it’s that time of the month when the dreaded monthly statement arrives.  In correlation with this, another interesting fact I came across is over the past ten years, the average bounced-check fee has increased 34% and is now $29.

 

More recently a co-worker made a purchase of two sodas at a gas station, the items were accidentally scanned as two separate purchases thus the items bought consisting of 40oz of soda amounted to a total cost of $52.84.  This irresponsibility or mismanaging of money is actually quite common.  For instance due to the above transactions, the co-worker was forced to make future transactions using the plastic.

 

Thus we see a vicious cycle resulting in the average consumer credit card debt being over seven grand and why banks capitalize upon those individuals who just cannot seem to keep their bank accounts out of the red.  These are everyday Americans, making everyday mistakes, and people wonder why our economy is the way it is.  Change cannot occur until people start doing things differently.  I will leave with the following, successful people have two things in common.  They do whatever it takes, every time.

$7.4 Billion Credit Card Debt On Brink of Default

I recently read a report on insiderarm.com that 7.4 billion dollars in credit card debt was at risk of default in January alone.  Seven point four billion, billion, dollars leaves me speechless.  Apparently the figure above is only a portion of the 20 billion dollars of consumer debt that Kaulkin Ginsberg calculates to be at risk of default.

 

At some point in time the greatest nation known to man must wake up and realize what is happening.  The numbers seem extremely high, by no means is it a figure to sneeze at, but one must wonder what comprises this debt.  A simple answer is irresponsible people who have royally screwed themselves in the process.  I’ve been out and a bout and have heard people talking about how Obama will fix this and will fix that, but at some point in time we, as a nation, must decide to help ourselves fix this problem. 

 

I’m tired of the people placing blame on the creditors, I’m tired of the people giving excuses left and right, I mean if most of these people would put as much effort into paying their bills as they do trying to get out of paying them, potentially we wouldn’t be reading this post right now.  Point of the story- when you point one finger, you have 3 fingers pointing right back at you.

The Stimulus Package: What?

President Obama addressed the state of our economy last night and early news reports showed the points he would be driving home revolve around the fact he inherited the “mess” and a quick turnaround is unlikely.   He also hit on the recession emerged on Bush’s watch, and the Bush approach wasn’t the right one.  

I can understand pointing out these points if he was addressing someone who had been living under a rock for the past year, but he is addressing the nation in regards to the economic crisis we are in and it seems that he is passing the buck.  

I’ve watched news reports regarding the views of many Americans who foolishly bought in to his agenda of “hope” and “change” and it astonishes me the number of Americans who truly believed Obama would snap his fingers and every troublesome worry would go away.   To say the least I am no fan of the stimulus package that will be crossing Obama’s desk to sign, but c’mon folks, the plan is simply throwing money around and we are left to “hope” that “change” will occur.

The liberal agenda of the media will begin to change away from the “doom and gloom” economy that we are hearing about now and suddenly the news reports will start to sound more cheerful.  This is one of the benefits of a Presidency that has the media in his back pocket.   Obama is in a win-win situation, if it fails then blame it on Bush because Obama inherited the “mess” and if it works, well then Obama is the messiah he’s been tabbed as.   I’m calling it now that in the weeks, months and years to follow, Obama will sound like many other Liberals, “Blame Bush”.

Collection Practice Complaints & The Dead-beat Debtor

 

Tonight’s post is focused solely around the perception of debt collectors and the people who hate them.  My wife and I recently terminated our cell phone service and opted for a landline phone to help reduce monthly charges and in the process we have obtained a number of a previous person who apparently was a professional debtor.  It seems that our phone is ringing on a daily basis as the debt collection companies attempt to resolve the outstanding balances by the previous phone number owner and the numbers appearing on the caller id prompted a phone number search to see who was calling trying to get in touch with Rebecca Myers.

 

To my surprise there are numerous web sites that are used as a venting outlet for numerous debtors who complain about the tactics used by those doing the collecting.  Now do not get me wrong, we have all heard the horror debt stories and some of the immoral practices being used, but there are actual sites out there that allow the debtor to complain about the collector trying to collect on the debtor’s past due account(s).

 

What struck me odd were the numerous personal attacks the dead beat debtor was making upon the collector, who is someone just trying to do their job.  Now do not get me wrong, consumers are protected by laws against immoral practices, but c’mon, if you owe a debt, rather than insult the person calling you, how about paying your bill.

 

To say the least, stating that someone is a loser because they are in the collection industry is moronic especially when the person writing the complaint, was irresponsible enough to not pay their bill.  I just do not get it, the fact is that people think it is alright to bash a debt collector and insult the collector’s intelligence when the debtor, themselves, is the person who is truly the loser.

 

Point of the story is, if you owe a debt and are being hounded by a debt collector, stop complaining and start paying.  The real loser is not the collector in the cubicle but the person hiding behind their caller id.  Wow, do I feel better!

Look At The Picture, What Do You See?

 

I felt the picture above to be very symbolic of the struggles Americans face on a daily basis when it comes to the struggles of personal finance.  People say that opposites attract and that is what makes two individuals completely and utterly perfect as one.  The question is how true can this be especially when the individuals being referenced to are completely polar opposites in the realm of personal finance?

 

I must say there are significant differences in many of the loving couples that I know and it is a fact the very same holds true with the relationship I share with my wife.  The differences that make up who we are can actually be seen as equilibrium in the hectic chaos of life.  Look at the picture above and what do you see? 

 

By chance does it look as if the dollar sign is weighing down the couple, becoming too heavy and unmanageable for the couple to handle?  If this is what your first thought was, do not feel bad fore you are one of the many people (85%) who saw the very same sight.  Now if you’re different than the vast majority, as I am, you see a loving couple trying together to lift up the dollar sign.  If taken on by one, it can be a burden but if you pull together the feat can easily be shared.  Now research shows that perception is that of the human mind and how we feel about our everyday lives, if you saw the first picture then maybe it’s time to step back, take a deep breath and re-evaluate your viewpoints on money.  Who knows, in the end your overall outlook might change just as mine has from past to present.  Good luck!

D.A.’s Random Thoughts- 2/15/09

 

 

I have decided to stop scoping the Internet out for various financial topics that seem to sour my mood and in doing so I have decided to add to my posts simply what it is that is on my mind.  Readers, please be patient because I have no idea where these thoughts and ideas will lead us on this site, but I look forward to any and all feedback.

 

One of the first things that crack me up is the number of individual sites who write about being frugal, who write about living life on a budget, but yet do some really stupid things.  The stupid thing that I am referring to is that of individuals who are far from financial experts, gurus, etc., yet they pay a minimal fee to spread their message of their personal finance ideology.  They use the same avenues to voice their opinions, examples, and ideas that I do, but the difference is I’m not paying anything for my wordpress.com site.

 

Do not get me wrong, I find no harm in actual financial experts using pay-for-sites, but we are talking about “everyday Joe’s” using the Internet at a cost.  To me, this diminishes any valid point they might be trying to make as they were a dummy in paying for a service that can be utilized for free with primarily the same functions.  I don’t know, maybe I am just rambling on about others and I should not, but people do some stupid things.  Just like the old saying goes, “common sense isn’t very common.”

New Budget Approach Proves To Be A Success

This is the first pay period of the different approach we are taking to our budget.  As previously mentioned (and can be found in our forms page) we started allocating each and every penny earned.  A couple of great things occurred with this new system such as a better understanding of where our money is going, but also we were able to divvy up the money between this pay period and next.  By writing our budget down and the beginning of each month, conducting emergency meetings when necessary, we are able to prepare for any sudden changes that may occur in the near future.

 

Since the wreck last month we have unfortunately dropped about $784 in car repairs (deductible and then some other work that was not covered per the dealership).  At this point in time, one of the goals that we had for 2009 was to have our $1000 emergency fund by the beginning of March, yet at this time period we might be truly looking at the end of March. 

 

The extremely positive feeling that I am receiving from all of this and the changes we have made in how we do our budget is in that we are directly seeing where each bill (category) is weighing us down, costing more, etc.  This visual will allow us to be better planners when it comes to future budgets.  Also this creates a hunger inside to eliminate the unnecessary debt that we have such as two credit cards that we are paying on, but have halted any future spending on the plastic demons.

 

By the end of February we should have our side bar updated with our current expenses and current emergency fund information.  If you found this post useful, helpful, brought forth warm feelings, etc., feel free to comment.