Personal Finance Education

How can you know good paycheck if you've never known bad paycheck?

As the late Jim Rohn once said, "How can you know good paycheck if you've never known bad paycheck?"

1) Take a trip to the poor side of town.

Jim John gave the advice of taking your kids to the poor side of town. Show them how people who've made different financial decisions live. Trash in the street, cars up on blocks, yards uncut, houses in disrepair.

2) Why can't you afford it?

Where does the money go? It goes one dollar at a time on beer, cigarettes, entertainment, fast food, etc.

The cost of our habits add up slowly over time. Financially and physically.

3) Contrast can motivate us to move up, move out or move on.

Nothing wrong with your first teenage years job being fast food, for example. Low pay, hard work. Teaches you responsibility, promptness, team work, dealing with customers (good/bad), etc.

And hopefully motivates you to want to get out of there after a short season. There's the contrast.

By the time you start your first part time job, you should have most of these skills/experiences already instilled in you by your parents.

If they did a good job of providing you with contrast, and not protecting you from the world, your first part time job should be a much better experience.

Contrast. If everyone was the same, life would be boring. But only if we've first experienced everyone being different in the first place.

Resource:

Jim Rohn

Debt Shepherd 2017, All Rights Reserved

Get Your Mind Straight. Get Your Money Straight

The more complicated you make your finances, the more the tyranny of their complexity can rule your life.

1) What you see vs what you think.

If it's a mess on the outside, it's a mess on the inside. House, car, clothes, garage, body, finances. No different.

2) The un-manifest and the manifest.

What hasn't shown up vs what has shown up vs what you think and do they match? If not, this can cause anxiety.

3) Write down your income vs your expenses.

POP your finances. Put it on paper. Take what you've been thinking about and force yourself to see it in writing. Feedback from students on this one.

Less bills to pay. Less moving parts. Less to worry/think about. Fewer checks to write. More money in the bank?

Resource:

Charles Hugh Smith

Get Your Mind Straight. Get Your Money Straight.

Debt Shepherd 2017, All Rights Reserved

Taking a look at our pay stub and seeing just how much Uncle Sam steals.

We owe this topic idea to Jonar Nader's book: "How to Lose Friends and Infuriate People"

1) What would your workplace be like if you knew everyone's rate of pay?

From your co-workers salary to your boss. To the owner's annual profit. To bonus' of everyone including upper management.

2) What if you didn't get paid unless the company made a profit each month?

Would your attendance improve?

Would you be less apt to take a sick day, even though you weren't sick?

3) What if before you got hired, your would be co-workers got to help decide on your hire, rate of pay, and saw your credit scores?

Why would these ideas scare you?

Why is our income taboo in America?

Knowing someone's income seems like seeing them naked for the first time. Why?

Income is social status, zip code, education.

It's a measuring device we use to make decisions about people.

Resources:

bookfinder.com

Debt Shepherd 2017, All Rights Reserved

We discuss what are you not willing to give up to change your current financial situation.

Debt Shepherd 2017, All Rights Reserved

I talk to the host of Gnosis Cardia on blogtalkradio and we discuss the insidious money cartel known as The Federal Reserve Bank.

We talk about two listener emails and discuss the coaching process.

Change is constant. Here's three tips to keep you moving your finances in a positive direction.

Your role in changing the cost of health care if you're not happy with what you're paying.

http://www.debtshepherd.com

Why a 401k might not be the great investment you've been told.