Personal Finance Education

Who is responsible for your current financial situation?

"Fighting poverty is big business. But who profits most?"

from PovertyInc.org

Let's talk about digital currency and the privacy it gives you, not to mention saving on transaction fees.

Why do we work 8 hrs a day?

Imagine trying to withdraw money from the bank and they don't have it.

Without you the bank wouldn't be in business.

How collections affect your credit scores.

You can't borrower your way out of debt. There's only one way to get rid of it. Pay it off.

1) What where do I start?

Stop borrowing money. Send your Visa & Master Card divorce papers.

2) Which debt should I pay off first?

Smallest balance first, regardless of interest rate. Pre-paying neutralizes compounding interest on revolving debts.

Take min mo pmt, add 10% of your net pay. Divide that number into the balance of the debt. Divide that by 12. That's how many months until you pay the debt off.

Example: $1,000 balance. $20 min pmt = 50 mo or 4 yrs to payoff. That doesn't account for revolving interest, which takes longer.

$20 min mo pmt plus $60 extra. $1,000 balance divided by $80 = 12.5 mos to payoff or 1.5 yrs.

3) What about interest rates?

They're nothing but rent payments. Interest paid is rent for the use of someone else's money. They borrower it at, say .50% and they're lending it to you at 4.5% for house, up to 29% on credit cards. Who's getting the best deal in that equation?

Closing:

Borrowing money is fast and convenient. Ask why are you doing it your entire life? When does it stop?

Resource: Piece of paper, something to write with, and calculator.

Get in touch. Podcast page. email or voicemail button. Coaching is available.

I'm Greg Whitaker reminding you:

Get Your Mind Straight. Get Your Money Straight

Debt Shepherd 2017, All Rights Reserved

What do you spend most of your time thinking about?

In this discussion I'll venture to say you spend most of your time thinking about Sex (early age) and then Money (as you mature) and then both.

1) What is sex? Six = Earthly matters. 666 The number of the beast. Animal, of the earth. Division. A seed fertilizes an egg. That one cell divides into two, etc. Two become one then one becomes two. Look at the number 6. Freudian representation of male genitalia. A lower case letter A is the same. Just a 6 turned to the left. It's about how much can I get or how much can I give. Sound like money?

2) What is Money? The exchange of human energy. Pieces of paper or numbers in a computer that represent your physical/mental work. You exchange the paper/numbers in a computer for food, clothing, shelter, etc. It's all about how much can I get or how much can I give. Sound like sex?

3) Sex and Money one in the same? Physical sex is exchange of energy. Money is exchange of energy.

Closing: Both Sex and Money are of the earth. Physical. 3D.

The point is, slow down. Take time to reflect on what you reflect on most often. Awareness is key. Be the observer as if you're observing yourself having the thoughts. Practicing this pulls you, temporarily, out of being trapped in your body and worldly thoughts.

Resource: You. Practice meditation. Simple, quiet time with no distractions. Teaching the mind to be still.

Get in touch. Podcast page. email or voicemail button.

I'm Greg Whitaker reminding you:

Get Your Mind Straight. Get Your Money Straight

Debt Shepherd 2017, All Rights Reserved

The creation, sale, and distribution of human energy.

Monopoly - created by law and is enforced by law.

For purposes of this discussion, the words money and human energy are one in the same.

1) The Creation of Human Energy - Congress borrowers money from The Federal Reserve. They make principle/interest payments. The paper money you hold is the IOU or Congress' promise to The Fed to pay back the debt. How does The Fed 'make" the money? An entry into a computer.

2) The Sale of Human Energy - The Federal Reserve decides the price (or interest rate) of money. They lend it to banks at an interest rate. The bank lends it to you at a higher rate and makes profit. Why don't you have access to money closer to the point of creation and therefore a cheaper rate of interest? Because of the law.

3) The Distribution of Human Energy - The Fed makes it, the bank borrowers it. The bank lends it to you after they decide if you're worthy of being lent to. Loan application, SSN, credit scores, collateral, assets, etc. They either say yes or no.

Look at back of your Closing Disclosure. $100k loan, total paid over life of loan if min pmts made. Expressed as a dollar amount and percentage. This is only in the last 12 months. The old TIL only showed the total dollar amount.

Closing: If you're the only one who creates, sells, and distributes human energy is it possible you'd develop a God complex somewhere along the way?

Why? You control the population. This control is global.

Resource:

debtshepherd.com/078 - Why It's Called a Bank

The Creature From Jekyll Island - book

Get in touch. Podcast page. email or voicemail button.

I'm Greg Whitaker reminding you:

Get Your Mind Straight. Get Your Money Straight

Debt Shepherd 2017, All Rights Reserved