SAVINGS ACCOUNTS: HOW TO SAVE WHEN YOU ARE YOUNG

Pink and White Ceramic Pig Coin Bank

“Put it away for later.”


a penny today, a dollar tomorrow

Growing up, my mother always saved her money. And not because she made a lot and wanted to have as a rainy day fund. She did so just because she wanted us to see that there must be something you keep away just in case something happens; anything. You never want to be caught out there with no means of survival. So what do you do, you save your money in the bank and use only the checking account. Let’s assume you have other obligations, how can you save money with this in mind?

i want that

The problem when you are young is that you want everything, but you cannot afford everything. And when faced with an issue of going out and spending versus savings, we tend to spend. We get the idea that in our minds, we must have something that actually provides us with no immediate use at first. We want to fit into the group and be accepted by their peers.But it just never dawns on you that you’re heading for a world of trouble by listening to your peers.

out of fear

When you see people around you falling off financially, then you can understand that their is some to be said about holding on to your money. We get up every morning and take for granted that something will be there everyday. You have to learn to establish a fund for making your income. Something that will serve as a means to aid in case of a job loss, or even starting capital for buying a house.


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A LOSING BATTLE: WHICH WILL BE THE NEXT CURRENCY TO SURPASS THE DOLLAR?

One U.s. Dollar Beside 100 Philippine Pesos

“Lost of confidence.”


the dollar

The American currency has been the top currency of the globe for decades. But with the Euro and the Kuwaiti Dinar surpassing the dollar, what will be the next currency. We already have the British Pound which as it stands is also ahead of the United States. Will the Renminbi of China be next, or better yet the Rupee? From the looks of things, both the Chinese currency and Indian currency will have to do some serious building to surpass the American dollar.

staying strong

Even though the dollar has appreciated in value, the strength of the dollar has still continued to push ahead of everyone else. And that’s because of the spending power of the dollar. Which can throw someone off by saying its value is down but the strength is up. And the problem in our economy lies in the economy. We have job growth, but no real career growth. Meaning how many of those jobs are well-paid positions. But also, how many people are investing in us as well. Nonetheless we hold on to control.

innovation

The fact that we used to be the innovators and are no lounger the innovators is troublesome. We are more concerned with the social aspect of life than the building of life in this country. And once the that takes place, you tend to fall off. We sit around and wait for an administration to create something for us, instead of creating ourselves. And this is why immigrants are more suited at times to succeed in America than American born citizens. We want a party to do its job for us. They come to America with the notion you must do things yourself. And we need creations and building off of preexisting things to make life better.


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THE VALUE OF THE DOLLAR OR SOMETHING LIKE IT: WHAT IS OUR MONEY BACKED BY REALLY?

Rolled 20 U.s Dollar Bill

“What if confidence is lost?”


 The United States currency has been a long subject of debate. And that debate is, what is our money really worth? Because in reality it’s just paper. And the real confidence is in our economy. Because if our economy begins to decline, then what are these sheets of paper? Well then, could it happen? Could we see America fall into a second Great Depression twice in America’s history? With the industrial age looking more and more like something of the past, what is going to replace it? It’s going to be this new technological space. Yet we have an uneducated populace who are not only unaware, but not willing to learn this new way. And with that comes uncertainty within the market. And now what you have is uncertainty in our dollars as well. So what do you do about the potential value of the American dollar falling or even collapsing?

The fear of this could send the nation into a tail spin. We are already behind the Euro and the British Pound. And with China now the largest economy in the world, who knows, their currency could be next to surpass us. Then, once all these different currencies start to pass us, can we truly say we are still this great nation? How are we such a great place when places that are seen by us as not as great surpassing us? That image dies and so does the status of America. Now, am I saying brace yourself for a catastrophe, no. But we should be mindful of the sensitivity of the market. Let’s say though for a minute that our system does collapse. What could this mean for the countries who we owe money to in debt? Would this mean that we would have to start cyphering off assets we do have left.

These various assets could mean natural resources, or better yet, land. Imagine the chaos if people found out that we no longer were in control of our land anymore. Like I said, this is still a stretch, but it has happened before. And in the end, that is the true fear. Chaos has happened once before. And for some reason, we as people tend to always forget history and repeat the same mistakes. Hopefully, we are able to maintain our confidence in our dollars and our economy can grow. Otherwise, we’ll fall victim to our own lack of hubris and ignorance.


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THE KNOW: HOW POVERTY IS MORE OF A MIND FRAME THAN MONEY

Related image

“Getting out, does not guarantee you’ll stay out.”


As a young man, I grew up under the poverty level here in the United States. Now, if you would have told me that at a young age, I would not have believed you. But once I became an adult, I decided to look back and research how much money my mother made on her job. And for a single
Related imageparent household making the income that my mother made, we were classified as an impoverished family. Yet, we always had food, clothing, and a roof over our heads. Little did I know, that my mother was one rainy day, one sick day, one bad break away from us being homeless. So is poverty about money alone or is it a mind frame?

I come from a family of poor people. And it’s generational poverty; whereas my mother and father were poor, their parents were poor, and so forth. As a matter of fact, my family on both mother and father side have been poor since slavery in America. So for well over 200 years of American history, we Related imagehave lived through poverty. Understandably so how we could have in the past given the historical accounts; both slavery and Jim Crow. And we can also point to other social-economic policies aimed at certain ethnic groups in certain communities. But that aim was mainly to aid White communities, and Black neighborhoods. Now, a large portion of White men and women are suffering.

So is it still about race, yes and no. I feel race can be used, yet it’s bigger than that today. The struggle is real and everyone is feeling it. So how, how do you bring yourself out of poverty? And my theory is that poverty is more than just not having money. It’s about knowing how money work and how Related imageyour money work. And that requires putting yourself in the know. And the know is whatever it is you’re seeking to accomplish in this world. For example, professional athletes make it financially out of poverty, yet their minds are still in poverty. So the majority of them wind-up broke after playing professional sports. Why, well because they don’t know anything about money.

Athletes are beneficiaries of the lottery effect , where they get overnight wealth. And lack of knowledge places them back into poverty. A lot of Americans don’t understand how, but more of them would do the same. Image result for lottoBecause it’s not only spending habits that land them back into poverty, it’s financial investors and managers mismanaging funds. So what about the American who does not get their start in sports/entertainment? Where do they look first when trying to overcome their struggle? And the tough question is, there is no one place to look. You have to adopt a certain mind frame for finding and making an income; as well as retaining a standard of living.

And in the end, that’s something that people cannot grasp hold of; the mind frame. You can’t teach it, and you can’t fully learn. You just have to have a mind that is built to understand how to put yourself in a know space. ThereRelated image will always be people giving you a blueprint. But you’re not supposed to just runaway with it, more so, you should be using it to build your own vision. Their blueprint is just a basic template to get you started. Yet people at times are even offset by the blueprint of another person. And often will reject you for offering the blueprint. Nonetheless, this getting out of poverty game is psychological. And if the mind is not right, neither will be your standard of living.


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BREWSTER’S BILLIONS: WHAT IF I HAD 30 DAYS TO SPEND ONE HUNDRED MILLION DOLLARS (NO PROPERTY)

Image result for PRYOR

“Money to burn.”


The above photo is of the late famed comedian Richard Pryor. Pryor was in a movie in 1985 called Brewster’s Millions. The movie was about a man who in order to inherit his late uncle’s fortune of $300 million, he had to spend $30 million in 30 days. There was a catch, and that was that he couldn’t own any assets nor could he tell people why we was spending so much money. Otherwise he would forfeit the entire fortune of $300 million once the month was over. I was thinking, what if that movie was remade today? But instead of Brewster’s Millions, it was a $1 billion fortune. What if he had to spend $100 million in 30 days to get the fortune of $1 billion? So my question is, what would you spend $100 million on in 30 days?

For starters, I would rent out the entire Madison Square Garden for one some morning hoops every day for 30 days. This fee would run about $200,000 for the rental of one day. But like I said, that would be just some morning hoops. So about two to three hours of shoot around. Now I am down to $94 million from my previous amount of $100 million. I would rent a Bugatti for the next 30 days for the month, which is approximately $25,000 per day for the next 30 days. So, my new amount would be $93.25 million. Now, I have to move myself into a nice place to live for the next 30 days. So I would rent the The Mark Hotel Suite in NYC at a whopping $75,000 per night for the next 30 days; $2.25 million. Now my new amount would be $91 million.

Just like that I have already spent $9 million and I have yet to end the morning of my day. So where to next, hey, why not pay for breakfast, lunch, and dinner for any who want some for free. There are 328 buildings owned by the housing authority in NYC. In all, about 400,000 people live in the buildings. So, how about I throw a breakfast, lunch, and dinner party for a chosen few projects in all five boroughs. I would throw a brunch party for all five projects in each of the five boroughs for the next 30 days, which cost approximately $20 per person. This would bring my total spending for the month at $18,292,683. Now my new balance would be at $72,707,317. Remember I said dinner as well, so why not choose five separate projects in each borough, and plan gourmet style at $40 per person.

Now that would cost a whopping $36,585,366, bringing my new balance to $36,121,951. Now, with me spending all this money, I am going to need some security in case I get robbed. So let’s say I hire NYPD’s finest for the next 30 days. Well, an NYPD officer gets paid $44,744 per year. Assuming a 40 hour work week, that’s approximately $22 per hour. I’ll hire 20 officers for the next 30 days to follow me everywhere at a rate of $25 per hour. That would be $86,600, and when I am at home, an additional 20. That bring s the total of protection for 30 days to $173,200. Oh, for the transportation 10 Bugatti cars rented for the 40 police officers for the 30 days bringing the cost to hire and rent the cars $15,173,200 ($25,000 per day for a Bugatti) for the month. The new balance would be $20,948,751.

So what to do with my just over $20 million. Now I can’t give it away because that’s one of Brewster’s rules, so what is another way. And you know what, I found another way. I would have a movie night at theaters across New York. There are approximately 300 cinemas and 175,000 seats. I would, with my last money, host a movie night every night for a month. So, the breakdown is as follows: $14 average ticket, for 49,856 seats for 30 days. That total comes to $20,939,520. My balance is now down to $9,231. Remember all those cars, I’m going to need parking for the month. And just like that, I could spend $100 million in NYC for a month.

In the end,I would get my $1 billion. In New York City, there are so many ways to spend a lot of money. I would most definitely be able to spend that type of money. You see, I would know how to spend that money because I know the New York landscape. And guess what, I wouldn’t even have to leave the state. If I left New York City, I could spend a lot more. Imagine if I would have included private planes and more expensive hotel visits. Now my question to you is, “How would you spend your $100 million to get your $1 billion?”


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MONEY CAN’T BUY ME LOVE: HOW HAPPY ARE YOU REALLY WITH MONEY

Piles of U.s. Dollar Bills on Silver and White Suitcase

“Happiness is an internalized feeling due to_________.”


Growing up, my household was classified based on my mother’s yearly income as below the poverty level. I didn’t feel like an impoverished family, but we really were below the poverty level. To me, I thought poverty meant sleeping in the street or eating at a soup kitchen. I didn’t realize at my young age you could work and have a roof over your head, yet still be impoverished. This was hard for me to realize because so many around me were worse off than my sisters and myself. So in my life I wanted to be the opposite of poor which is rich. But as I came through my twenties, my views gave me a different perspective.

Coming into my twenties I started to realize what I really wanted out of life. I wanted to be able to have a voice to express my myself how I wanted. And that didn’t mean behaving like a loose cannon, not having regard for active, activity, beachanyone. Because at the end of the day we all have to answer to someone. I just wanted to express myself in the most rational way without having to choose a side in life and sticking to that side. In addition to that, I said if I could find a way to make at least $60,000 per year it would be enough to start my self employment journey. Now with that said, what does anything I have said in this passage have to do with money and happiness? A lot, there is a lot to be said about money and happiness.

Because notice above that I didn’t say I would be happier if I had more money. I said I would be happier having the ability to express myself and Full Frame Shot of Eyehave a salary to do so. Meaning anything beyond that point is just added bonus. But there is nothing that would make me happier having a lot of money if it weren’t aligned with what I want to do for a living. It’s much more than money. Because if it were only about money my professional choice would not be writing. If it’s about money, we all know you work hard and run to Wall Street. Stock Brokers, Hedge Fund Managers, or the guys in the tech space; you don’t choose to become a writer. Writing is something you love to do.

So what is it about people who think that if they had more money they would be happier? A lot of it has to do with their current quality of life. When you have money, it’s hard to explain to people who don’t have money how unhappy you could potentially be. They can only see their lives and anyone who is above them looks good. They can’t and most likely will never see it your way. But studies have been conducted on lottery winners who have won major jackpots. There are times their happiness actually decreased because they became more isolated and people were hitting them up for money all the time. So it actually produces diminishing returns over time.

In the end, quality of life is key to the happiness. But that is not just money alone that contributes to that good feeling. And also happiness is how you go about gaining your money. The climb is important because once you get to where you are, you can look over time at the build-up. Usually Man Standing on Brown Rocking Mountain Under Blue Sky and Yellow Sunlightpeople who got it all at once lose it as well. They’re not prepared to deal with the responsibilities of having money now. So before you make money, have an idea of what you truly want out of life. Money can buy you tangibles, but what keeps you going day in and day out is something different.


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RELATIONSHIP CURRENCY: WHAT DO YOU VALUE IN RELATIONSHIPS

bank notes, bills, cash

“If cash is king, where do relationships stand?”


Relationships throughout history have always taken on different forms as time progressed. But in today’s society there are so many meanings for what relationship currency stand for. How do you define what it means to have relationship currency? Now when I say relationships it can mean marriage or even a friendship. Currency can mean something of monetary value or it can mean something of mental/emotional value. I am here to ask which one is important to you. A lot of people say money and others say what someone has to offer. Some people want a monogamous relationship others don’t. So which is important to you?

The majority of people in society hear relationship and automatically think it has to do with dating or marriage. But what about friendships; how important is friendships and what is their currency. We usually dictate friendship by what the person has to bring emotionally to the table. Because what is the use in hanging around people who are not in your best interest. And what I mean by that, it’s heading in the same direction as you. This doesn’t mean you want to be a physician they should be doctors. No, it should mean that they have some type of goal in life. If they don’t and you do, you guys will fall apart from each other. So relationship currency in friendships should be pushing each other to do better which translate into non-monetary currency.

Well, what about monogamous relationships, currency is important here. But what type of currency? What type of currency is important to you in a relationship? Let’s observe from an emotional standpoint. When you’re looking at monogamy from an emotional standpoint, then you’re talking about how much meaning you bring into someones’ life. This means that when one of you are weak, how well does the other counteract that weakness with strength. And that in itself can be seen as sometimes and even greater form of currency than the monetary. But what about the monetary? There are people that look to this as a form of currency in relationships.

When in monogamous relationship, having an income coming into the house is very important. Maybe not when you’re in your early twenties, but what about once you hit your thirties. Once you get to this point, it’s the getting your life together point. The time where you need to really have it carved in stone where you would like to see yourself in the years to come. Now, money isn’t everything, but when you’re talking about settling down and having a family, you need to keep this in mind. Take into consideration the cost of buying a home, car, paying off any debts, and long term investments like retirement. This is where monetary currency is very important to your future success in a monogamous relationship.

In the end, the meaning of relationship currency can take on many different meanings. It’s up to the person/s interpreting what the currency means or even what the word relationship means. No matter how you look at it, know the currency you are looking for, but also know what your value is as well.