Tagged With "financial"

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Who taught you your most important money lesson and what was it?

Briana ·
Growing up, I didn't necessarily have one specific person I leaned on for financial advice. But I spent a lot of time watching how my own parents struggled, which taught me that I didn't want to do the same. Now, I actively pay attention to what I can and can't afford and how to set myself (and my future family) up for more financial success. What's one money lesson you've taken with you?
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Re: Who taught you your most important money lesson and what was it?

Moore Income ·
Pay yourself first. This I learned from many books and successful people. It is a principal that truly works when you start applying it. There is a lot that could be said about it but the best book I have read on the subject would have to be The Richest Man in Babylon. You can find it on Amazon but if you want to save some money and get more books for less, I recommended Thrift Books.
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Re: Who taught you your most important money lesson and what was it?

AverageJoe ·
If we tithe to a local church, how do we pay ourselves first? Should we come directly AFTER the church, and then bills, food etc? Just curious on your take on it.
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Re: Who taught you your most important money lesson and what was it?

Moore Income ·
Good question. I personally view tithing as giving back a portion to God in thankfulness for what He has given me. Therefore I would apply the principle of paying myself first after tithe. For those of us who do this, it means we have to learn to live off of only 80% of what we earn instead of 90% but I think it is a good way to learn to live below our means. And if you practice the principle of tithing first, you can trust God's promises in His Word to take care of those who holds Him in ...
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Re: Who taught you your most important money lesson and what was it?

Sewspcl ·
My mother. She always said make a trash small. Save your pennies, pick up a penny. Water down everything to make more including soup, spaghetti sauces, gravies. We made and popcorn and VHS tapes to entertain ourselves. Always pay yourself 1st period try saving $50 a week by the end of the month you've got $200. If not weekly try bi-weekly. Don't throw out old clothes just cut them up and make a blanket or throw. Being thrifty doesn't mean being cheap. Because you always end up with more...
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Re: Who taught you your most important money lesson and what was it?

Sewspcl ·
Pay yourself 1st then pay your bills and tithing. Is not ego it's economics. If you get sick because you're not eating could you can afford food but you going to church every week who are you helping? Let go of ego and pay yourself 1st. Then get back to others. Make sure the church that you are giving to does not squander your money on wines and fine china like my church did.
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Re: Who taught you your most important money lesson and what was it?

Moore Income ·
@SEWSPCL Interested in understanding why you consider it "ego"?
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Re: Can Budgeting Come with Baggage?

Moore Income ·
You hit the nail on the coffin here when it comes to budgeting. All of those have been things that have held me back from really creating and sticking to a budget. I am still working on it actually, but at the beginning of this year I made it a point that I would do what it takes to get my finances in order and that includes budgeting. On the topic of fear, I just read the book Who Moved My Cheese? and it talks about the fact that a lot of times what we fear and image the outcome of...
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Re: Can Budgeting Come with Baggage?

The Saving Scientist ·
Exactly, Ron! I'm really glad to hear that you're taking steps in the right direction. I look forward to reading more of your posts and seeing how your financial journey goes. We can all learn something from each other! Feel free to reach out at any time if you need any advice
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Maryanne Meyerriecks ·
Janet Bodnar of "Kiplinger Magazine" has written several books about teaching women and kids to be money-smart. She also had a column for parents in "Kiplingers" called "Dr. Tightwad." She gives good advice. Here is a list of her books (none are recent, but I haven't seen many books out there on teaching kids financial skills): https://www.amazon.com/Janet-B...549288225&sr=8-1
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Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Moore Income ·
Day 2 is upon us for this February Financial Fitness challenge. If you want to follow along you can read more here or see Day 1 here . Today, I started reading The Financial Matrix and How to Escape It by Orrin Woodward. It is about breaking free from the financial traps that many people find themselves stuck in. Right before the first chapter there is a quote: This quote really rings true and sets a precedent for today's financial fitness principle. Investing in yourself especially when it...
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

mintjulep ·
Though not a pure financial book or guide, I keep The Fourth Turning by William Strauss and Neil Howe in my home library. To be honest, it's not a fun read, much of it was a bit over my head and I sought dictionary assistance often, but I plowed through it and found it amazing. In short, the authors studied hundreds of years of historical patterns throughout the world which go hand in hand with historical financial crises, as well. What we seem to be experiencing now is a period of...
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Moore Income ·
@Maryanne Meyerriecks thanks for sharing this resource!
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Re: Day 2: Read Financial Books (28 Days of Financial Fitness Challenge)

Moore Income ·
@mintjulep It does sound like a pretty deep read but something I am definitely interested in learning about. I had not heard of this before so I will for sure be adding it to my reading list. Thanks for sharing.
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Re: Day 3: Start Investing Now (28 Days of Financial Fitness Challenge)

Stimpy ·
Hi! I'm familiar with a Roth IRA, but what is an m1 Roth IRA? Also, where can I open this account?
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Re: Day 3: Start Investing Now (28 Days of Financial Fitness Challenge)

Moore Income ·
@Stimpy sorry, I should clarify, M1 is just the company that I have a Roth IRA with. I will message you with more info.
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Day 3: Start Investing Now (28 Days of Financial Fitness Challenge)

Moore Income ·
If you are not already investing, there is no better time to start than right now. Some advice my mentor told me is that even if your finances are tight, you should still find a way to invest at least a small portion of your money on a consistent basis. It doesn't have to start with much. $5 here and $10 there will add up over time. Sure, it might mean you will have to skip out on your daily Starbucks coffee but the reward will far outweigh the short term enjoyment. The reason you want to...
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Re: Day 5: Stop Spending Money (28 Days of Financial Fitness Challenge)

Bonnie Squires ·
I started last month doing this. I'm a sucker for when Christmas things go on sale. So I've decided is it some thing I really want or is it some thing I can use. Its been working real good. Our $ stores Christmas stuff has dropped down to 13 and 10 cents ya I looked picked up things up and than looked at it and said do I really want this. I dropped it back down. It surprised my daughter was shocked she said mom you wanted that since Christmas. I said ya I know but its not some thing I need.
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Re: Day 5: Stop Spending Money (28 Days of Financial Fitness Challenge)

Moore Income ·
@Bonnie Squires Great job! It isn't easy to do, but in the end it is much more rewarding than jusy spending the money!
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Re: Day 5: Stop Spending Money (28 Days of Financial Fitness Challenge)

Diannemarie60 ·
I have 3 beautiful granddaughters who don’t live close to me. I will see something that would be perfect, and I instinctively want to buy it for them. Thankfully mom and dad are down sizing toys and outgrown clothes so it helps me somewhat! But it’s very hard and I seem to give in more often than not! I know they don’t need everything but it’s fun watching them rip open boxes I’ve sent and how excited they are. Help!
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Day 5: Stop Spending Money (28 Days of Financial Fitness Challenge)

Moore Income ·
In a financial class I attended recently, the teacher said "The easiest way to become a millionaire is simply to NOT spend a million dollars" The truth is, most of us will make more than a million dollars in our lifetime, so if we would just not spend so much, we could be in a better financial position automatically. Now I understand that life has expenses, but if you really take the time to look closer at your spending, you will be sure to find areas in need of improvement. Not spending...
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Day 4: Pay Off Debt (28 Days of Financial Fitness Challenge)

Moore Income ·
Before I begin, I would like to take a moment to say, if you do not have any debt, I sincerely congratulate you! In this day and age, it is difficult to survive without going into some form of debt. Credit card debt, student loans, mortgages, medical debt, and the list goes on and on. The fact is, nobody likes debt but it has become a part of our every day lives. Personally, from a young age I was taught not to get into debt. My parents bought there first home cash when they got out of the...
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Re: February: 28 Days of Financial Fitness Challenge

Bri ·
I accept this challenge and will start paying off some unexpected medical Bill's and creating new 2019 budget.
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Re: February: 28 Days of Financial Fitness Challenge

Former Member ·
One of the things my husband and I are doing for the month of February is to not purchase any snacks, drinks, coffees, etc. on the go (or what I call ‘niggly’ purchases) and limit our eating out to once a week. It is a challenge for us in that we both work jobs that we go from stop to stop. We hope to use the money we save to put toward our vacation fund
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Re: February: 28 Days of Financial Fitness Challenge

Moore Income ·
@Bri That is awesome!
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Re: February: 28 Days of Financial Fitness Challenge

Moore Income ·
@Former Member that is a great challenge. I too am trying to limit my spending on such purchases and keep it to a minimum. I understand how challenging it can be. It can be so easy to just stop somewhere for convenience sake and grab a snack or a bite to eat. Saving for a vacation is a great idea, I can't think of a better way to reward yourself! Keep up the good work!
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February: 28 Days of Financial Fitness Challenge

Moore Income ·
It is already the last day of January! Time sure does fly! Seems like just yesterday it was the new year and now there are only 11 months left in this year. How many of you have already broken some of your new years resolutions? I have. No need to worry too much about it, there is nothing you can do now but look forward. For me personally, I plan to get back up and continue pushing forward to accomplish my goals and dreams. One of my goals for 2019 is to get in better financial shape than I...
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Day 6: Learn From Others (28 Days of Financial Fitness Challenge)

Moore Income ·
When it comes to finances, sometimes it can be a subject that we don't like to get too personal with. Sometimes, it can be something we shy away from when the conversation comes up. For those who want to change their financial situation, we have to be open with ourselves about where we are at and do everything we can to change it. Practicing financial fitness on a daily basis is the best way to do just that. For today's daily step towards a better financial future, I am putting into practice...
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Re: Day 5: Stop Spending Money (28 Days of Financial Fitness Challenge)

BeckAtsila ·
Ironically enough, Amazon. I have a few apps on my cell phone that give free Amazon gift cards--QuickThoughts is my favorite even though I hate surveys with a passion. I simply save up Amazon gift cards for what I want. I gave my nephews and niece a very Merry Christmas that way without spending a fortune--I even got one nephew a flying drone! Watch out for porch pirates, though--I've also spent a few hours on the phone with Amazon after they ignored my instructions to leave packages in the...
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Re: Day 5: Stop Spending Money (28 Days of Financial Fitness Challenge)

BeckAtsila ·
I understand your position--I have five nephews and a niece, all age 8 and under, and they're the joy of my life. What I've found helpful is apps that give you free Amazon gift cards--QuickThoughts is my favorite because it gives you $1 for a complete survey and 10 cents for a DQ, the surveys rarely go longer than 10 minutes, and it screens out most surveys you don't qualify for. S'more is another good one if you don't mind it advertising on your lock screen, and it pays you 10 points a...
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Re: Who taught you your most important money lesson and what was it?

BeckAtsila ·
"Pennies add up to dimes, and dimes add up to dollars." My across-the-street neighbor when I was 4.
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Re: Who taught you your most important money lesson and what was it?

KellyFromKeene ·
I cant think of a particular person- but I can think of things I learned from several people. My parents taught me that tithing is important, although I have not always done that. My ex taught me that I don't need a lot of things to be happy- after I lost it all in a divorce. My boyfriend taught me how important it is to save and plan for the future. My kids taught me that people are the most important thing and that everything else is a distant second.
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Re: Day 7: Always Give First (28 Days of Financial Fitness Challenge)

Nicole ·
I agree Jon & I feel if you are generous, it will come back to you 10 fold. I donate my time to volunteer at my kids school & a children's charity that has helped my son in the past. My kids also pick up pop bottles & recycle them for money to donate to the charity (with help from me of course) It costs us time but helps so many others & gives back to a charity that was there for my family when we needed them most.
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Re: Day 7: Always Give First (28 Days of Financial Fitness Challenge)

Moore Income ·
What an awesome way to give back! @Nicole
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Re: Day 8: Keep Family First (28 Days of Financial Fitness Challenge)

Darrell ·
OK I'm new here and don't know exactly where to start...????
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Re: Day 9: Practice Delayed Enjoyment (28 Days of Financial Fitness Challenge)

Ann Josiah ·
I fully agree with above blog.
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Day 9: Practice Delayed Enjoyment (28 Days of Financial Fitness Challenge)

Moore Income ·
This is one area where I still need quite a bit of practice. Practicing delayed enjoyment or gratification is a key principle in preparing for a better financial future. The culture in which we live has become increasingly automated to the point where we expect everything we want, right away when we want it. Companies and manufacturers have become very innovative in finding new ways to appeal to our desire for instant gratification. Everything from marketing to product placement in a store...
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Day 1: Pay Yourself First (28 Days of Financial Fitness Challenge)

Moore Income ·
It is the first day of the month and the first day of my Financial Fitness Challenge where I am taking small actions on a daily basis to a better financial future. You can read more about it here . Today, I am putting into practice the principle of paying myself first. I have filed it under the "Investment" category because I believe that paying yourself is an investment in yourself (You Inc.). I first learned about this concept about a year ago when reading the book The 47 Principles of...
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Re: Day 8: Keep Family First (28 Days of Financial Fitness Challenge)

Moore Income ·
@Darrell welcome! If you have any questions about finances, you can start by creating a topic in one of the categories that relates to your question. Otherwise, you can check out some of the topics that have already been created and feel free to share any knowledge or information you might have that would be helpful to the conversation.
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Day 13: Don't Stress Out (28 Days of Financial Fitness Challenge)

Moore Income ·
Today's challenge has less to do with the actual finances and more to do with the mindset of being financially fit. Money can be a big deal, especially when there is little of it to go around. It can be a huge cause of problems especially when it comes to relationships. But the fact is, stressing out about money problems never solves the problem. There are times like today when I didn't have such a tight restraint on my money and made a few purchases (food) that I didn't necessarily need.
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Re: Who taught you your most important money lesson and what was it?

FreebiePharm ·
I would say my parents but by doing what they didn't do. I prefer not to spend my money, I am always looking for ways I can obtain things I need for free. The only financial footstep I followed was buying a new car and having that debt, which I wish I had never done. I should have bought a used car and had it paid off.
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Re: Can Budgeting Come with Baggage?

FreebiePharm ·
My biggest setback with budgeting is consistency. I feel I would start it but not continue. I am halfway there on budgeting. I write down my expenses bi-weekly but do not account for "small" purchases. This would be my goal as well as an envelope system.
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Re: February: 28 Days of Financial Fitness Challenge

FreebiePharm ·
I am not seeing the daily goals/ Am I missing it somewhere? would love to see these...
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Re: February: 28 Days of Financial Fitness Challenge

Moore Income ·
@FreebiePharm it is not exactly in order but if you go to this 28 Days of Financial Fitness tag you can find all the days I have posted.
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Day 14: Eliminate Unused Stuff (28 Days of Financial Fitness Challenge)

Moore Income ·
Today's step to a better financial future was inspired by a discussion here on the forum about the KonMari method . It reminded me of a need to look at the stuff I own and see what stuff I really can live without. It doesn't take me much time to realize that I have quite a bit of STUFF that I don't need, don't use or don't really want. Some of it I have because I bought it with the intent to resell and just haven't, while other stuff is simply things that I have accumulated over time. The...
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Re: Day 14: Eliminate Unused Stuff (28 Days of Financial Fitness Challenge)

Caitlin Constantine ·
I had the same realization - that we have a three-bedroom house with two bedrooms being used to store stuff - and it really made me take a hard look at my patterns of buying stuff. I've taken steps to turn those into spaces where my husband and I can actually *do* things (meditation, yoga, sewing, crafts) as opposed to just storing stuff, and it makes our house just that much more comfortable and pleasant to spend time in. Thanks for keeping the discussion on this subject going!
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Re: Day 14: Eliminate Unused Stuff (28 Days of Financial Fitness Challenge)

Moore Income ·
@Caitlin Constantine exactly. I don't regret getting a 3 bedroom apartment as it was not much more than a 2 or 1 bedroom in town. That being said, now I know that if I could get a better deal for less rooms, we would still be more than comfortable. Thanks for bringing the subject to my attention. Since I learned about the KonMari method from you starting tothear it beingbtalked about everywhere. 😂
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Day 15: Set Financial Goals (28 Days of Financial Fitness Challenge)

Moore Income ·
You've probably heard the saying: This is especially true when it comes to finances. It is one thing to desire to live a life of financial freedom, but it is a completely different thing to actually take the time to set achievable goals to reach that point. Throughout this challenge, and especially today, I have had to really spend some time revisiting my financial goals. Some goals are big goals, while others are simply small goals for where I would like to be in the near future. If you...
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Re: Day 13: Don't Stress Out (28 Days of Financial Fitness Challenge)

Professor Kel ·
I admit that I do stress out about my finances. As I was reading what was said there are things I can do to make my finances better. The mistakes I have made was spend money on things I really didn’t need. I also will be looking at things I have to let go of and sell.
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