What’s your Passion Pt. I

  I am interested to see if all of you have a hidden passion that you do not want to share with the world. Many people enjoy doing something on a daily basis but would rather keep it hidden and not attempt to put it out there for whatever reason. That is the worst thing you can do as this passion can and will probably define you in some way or another.

  This will be a short post to get the innovative juices flowing inside all of your minds to not only think about your passion, but to also share it with the world. In part two of this post I will release why I want you all to share this with the world.


7 Steps To Avoid Debt!

1. Do not carry credit cards on you, use cash or debit cards.
2. If you see something you want to buy while shopping, sleep on it and if you still want it tomorrow then pay for it with cash.
3. Save up for big expenses, after making a budget make several categories for those major expenses you eventually have to replace.
4. If you have debt, use any savings to pay it down but keep at least 1 grand in a savings account for emergencies.
5. Attempt to increase your monthly cash flow and you will avoid supplementing living expenses with debt.
6. Keeping up with the joneses. Don’t buy things because people around you are spending like there is no tomorrow. You don’t really know their situation and you don’t want to fall under this dangerous cycle.
7. Keep fun money category in your budget around 5-10% of your paycheck. Blow it on whatever you need.
These are all steps we all should take to alleviate/eliminate the debt monster. If you keep good financial habits and stick to them you shall avoid being a salve to debt. Banks were set up to make the average person indebted to the system. They take your money give you 0% interest and loan out 90% of the money to borrowers while charging 7% or more in interest.  In turn credit cards are another form of a loan these banks have used to make millions of dollars a year from the average person. If you begin to live a cash system you will be free from the banks trap and eventually will prosper in the money game.
*Please comment back if you already use a cash system and share how you have made it work for your situation.*
-For further information on getting a plan in place towards implementing a cash system email me.
Avoiding debt and using cash is another way to watch your money!

Great Gas Mileage

Top ten Most Fuel Efficient Cars
· 2012 Chevy Volt- 58 city/ 62 Hwy*
· 2000 Honda Insight- 49 city/ 61 Hwy
· 2011 Toyota Prius- 51 city/ 48 Hwy
· 1986 Chevy Sprint ER- 44 city/ 53 Hwy
· 1989 GEO Metro- 43 city/ 52 Hwy
· Honda Civic CRX HF – 42 city/ 51 Hwy
· 2012 Honda Civic Hybrid – 44 city/ 44 Hwy
· 1995 Honda Civic VX Hatchback – 39 city/ 50 Hwy
· 2012 Toyota Prius V – 44 city/ 40 Hwy
· 2012 Lexus CT200h – 43 city/ 40 Hwy
This list is a very good list, but I would assume that they are not including the diesel engines options. The TDI Jetta and Golf get about 40+ miles per gallon and would be somewhere in the mix here. The list was featured in CNNMoney.com and the writer gave a brief opinionated summary of each car. http://money.cnn.com/galleries/2011/autos/1111/gallery.most_fuel_efficient_since_1984/index.html
        Just to give you all insight as to what I think about this list:
-I would love to own a 50+ mile per gallon car one day
-I would only consider from the list buying the Prius, Civic, or the Lexus
-If it’s a two door it’s not for me
-Anything less than 4 cylinders is considered slow
Granted that some of the cars are not in existence anymore, I think with some research anyone can find a used car from this list. You might have to travel to Kansas or Oklahoma to find the Chevy sprint, but it can be done. Since we are on the subject of fuel economy and cars, please check out a great documentary called, “Who killed the electric car?” It is based on political pressure to remove electric cars from being mass produced back in the 90’s. I think we all can use this list to be more informed as to where the car manufacturers are headed with fuel economy, given the increased pressure of the smart consumer. For me I will consider and use fuel economy as a deciding factor with my future car purchase. Whatever car that may be. Hopefully it’s the one that gets 50+ miles per gallon. By 2025 all car companies must abide by a 50 MPG rating, but who will wait till then to get a car. See Link: http://www.autoblog.com/2011/11/16/fed-proposes-new-fuel-economy-standard-54-5-mpg-by-2025/
                Saving money at the gas pump is another way to watch your money! 

*The picture is a concept Prius that will probably get 60 miles per gallon 

December Calendar- Sales Update


Yes the holiday season is in full swing and most of us will end up paying more than expected during Christmas and New Year’s. So I will guide you to December’s list of products that are available for a good price.  Every month I will send this list out so that we all can be financially smart shoppers in this media overloaded society. Some of the products will be repeated from last month and my assumption is that those products are based on seasonal buying patterns.
December Product List:
· Bikes
· Camcorders
· Gas Grills
· GPS Navigators
· Home Appliances-Large/Small
· Small Consumer Electronics
· Toys
· TV’s
     There you have it, do as you please with the list. I think the toys and the small consumer electronics will take 1st and 2nd place as the most heavily purchased categories. For me the only products I would consider buying this month on the list is a good road bicycle for the summer and a 47” TV so that I could watch the super bowl in style. Of course I would only pay for both these things in cash, as I hate to have debt. I believe I got the hating debt thing from my father.
OK now it’s your turn to comment back and let me know if you need or want anything on this list or something not on the list.
PS: Don’t forget to download GEOQpons App on your smart phone and check if they have any coupons before purchasing your products. This would qualify as another smart way to watch your money! 

Early Retirement

A coworker of mine found an interesting story of a couple who retired in their 40’s and are now traveling all over the world for fun. How did they do it? Well you can read their story of success over at www.wherewebe.com it’s a great website with actual pictures of their adventures and journeys. If this couple can actually do the impossible, can others do the same? I find this story to be very inspirational, but I am questioning how much they had to sacrifice to get to retirement. My first assumption is they sacrificed a lot, but I think a story like this speaks volumes to what is possible in life. Just have to stay focused on your financial goals and save unexpected windfalls towards those goals. Even if you save half of the unexpected income, that action alone gets you one inch closer to your victory lap.  
Now I would like you to take a few minutes to comment back your answers to the two questions below:
What age do you see yourself retiring at?
                I would like to retire at age 45.
What would you do with all the free time post retirement?
                Free time would be a combination of traveling, volunteering, learning new skills, and family time. All these things bring me great joy, and I figured I could get fully immersed in all of them.
My Quote- Do what you love and live like it’s your last!
                So if you want to be free of the grueling 9-5 routine, stick to your financial goals. Live modestly now and don’t regret your decisions because ultimately the prize of reaching retirement early will pay off in years of freedom later. Don’t forget to watch your money! 

Best Financial Move Ever Part I

This is a quick post and I want to guage how many people respond, thus we can all be informed on a good question that most people are reserved to talk about.

     What is the best financial decision you have ever made in your life?

  That is the question and I will be adding to this post my response after all of you have answered and commented back. Let’s discuss and I will be doing a second part to this post in the future.


Spend Money to Make Money

      We all must learn at a point in our lives that for anyone to make money the first step you must take is to spend money. I’m sure you have heard of the quote: Without risk their is no reward.

When you find the right money equation, your income must always be greater than your expenses. The key lesson here is how to spend the left over funds; Invest it immediately. Whether you purchase a stock, bond, or a business. Asset purchases is the real proven definitive route that the rich make to increase their cash flow and net worth. Have you heard of anybody getting rich by not taking risks. Even if you do not invest right away, at least start paying yourself by transferring your left over money to savings. Implementing this last advice singlehandly will open up so many opportunities for you.

        In my discussions with random people I keep hearing the same excuses: I am not ready to invest, It’s too risky to invest, or I do not know how to invest. The first step before any decision you make, is to take time and get informed by asking questions or reading how to guides/books/my blog. Ha Ha Ha. We’re all rookies at some point in the investing world, but the deciding factor between those that do and those that do not makes all the difference.

1-Income > Expenses = Surplus of Money
2-Surplus Money Invested=Assets + Time =More Assets 

Money management’s foundation is based on one premise: live below your means & watch your money. As Dave Ramsey suggests in his excellent book, The Total Money Makeover; as being the most important emotional financial decision we all should make to get us out of the dangerous cycle of living paycheck to paycheck.

Get Informed. Read finance blogs. Invest or Save.Watch your Money!

RichUncle EL

Money Vs. Desired Things

Happy Thanksgiving:

   This is not a post on investing or budgeting, but its a different twist on how we view money. The theme of this post is: What do you need in your life that is more important than money? For example at a point in my life I collected comic books like a mad man. If I had a dollar in my pocket I already was thinking of my next  comic book purchase. Thinking back I believe I did it for two reasons,

1- I enjoyed reading those stories about heroes. 

2- I thought that I could collect something that could increase in value. 
   I was in eight grade when I first got into this hobby of collecting comic books. I would hear folk stories of people making money holding on to baseball cards, comics, and other collectibles. Now as an adult I find myself in a similar situation with buying and holding watches. So back to the original theme of this post, what do you find is way more important than saving money. Comment back to share what is that thing you can’t live without. Would you rather buy this important thing or would you rather save the money? I’ll go first and I hope to hear from some of you out there. 
RichUncle El loves – Watches and Footwear

   Fast forward to the present, if I have surplus money I tend to save it 90% of the time, but once in a while the other 10% of me is looking online, trying to find sweet deals on a cool watch. I guess it might be good for me once in a while as long as I don’t go overboard. Once in a while it’s recommended to spulge on yourself about 10% of your income on anything you desire. So in conclusion make it a habit to not fall prey to those desired things and get them only after you haved successfully saved for them.

PS: Watch Your Money!