Archive for

Learning To Live Without

America is unique in the world as a nation with a culture of super consumerism. I sometimes can’t believe the lengths people will go through to get what they want. The savings rate in the US is laughable. Compared to other countries, the US boasts one of the lowest savings rates in the world. This combined with the fact that debt and credit are out of control is a recipe for disaster.

The next decade will be one of tremendous change, not out of willingness but out of necessity. Americans can no longer be reckless spenders and macro economic fundamentals will force them to change. At some point you have to ask yourself why you need two large flat screen HDTV’s, a laptop, desktop computer and tablet, an Acura and the largest house you can afford on your salary. In addition, the pressure to maintain this lifestyle can cause tremendous stress which can affect your health and even shorten your life. Why do people find it necessary to look like everybody else and have what they have? We’re teaching our children that owning 2 or 3 iPods because they want different colors to match their outfits is OK. Young women grow up and want expensive engagement rings, expensive weddings and are terrified if their date uses a coupon at a fancy restaurant because it’s seen as a sign of being cheap and not being able to provide for her. This is insanity! Being rich and financially free isn’t about having more or better stuff than another person, it’s about not having to worry about personal finances. Living a life of competition with others over salary, cars, houses and things will not get you there but will instead lead you down the path of debt and depression. Instead, learn to live without. This doesn’t mean not having any of these things but it does require you to be smart with your money. Buy a Chevy or Ford instead of a luxury car. Buy a smaller house and leave some room in your budget for piece of mind. Own one computer and find a way to share it with others. Use coupons and buy items on sale or used. Contrary to the marketing we see everyday; happiness is not a result of what you own.

In the next decade two types of Americans will emerge. One will spend the rest of their life trying to dig out of a hole and barely scrape by, probably never retiring. The other will have savings, own assets (gold, real estate, antiques) and buy lots of stuff on discount from people in the first group. Which group will you be part of? The choice to change is up to you and only you can change yourself but for those that become part of the second group, the future is bright and the path to financial freedom a reality.

Living Without Credit Cards

Living without credit cards is one of the key factors in paying off debt fast.

It is important to stop using your cards, if you have accumulated certain amount of  card debt.  Continue using these cards, most likely, your debt will grow each month and prevent you from building wealth.

So, how do you live without credit cards? Here’s how:

1.) Track your spending habits as well as your expenses to see where you spend your money. Change the habits that are leading you to constantly use your cards.

2.) Create a budget. Set up a realistic spending limit on all of your expenses. The key to see it working is to identify where your money goes.

3.) Follow thru your budget plan. Use cash for most of your expenses to track spending. Following your budget plan is the best way to prevent you from running out of money every month. Although tracking these activities can be tiresome and time consuming, it’s crucial to help you gain control of your money again.

4.) Stop carrying credit cards with you. Simply not having these cards will help you stop buying any unnecessary items.

5.) Know your priorities. Remember you need food, shelter and utility services every day. These come before your new dresses, shoes, or fancy cars. Stick to your priority list, so you only spend on what you need and will be able to pay off debt faster.

6.) Put aside some money for an emergency fund, just so you don’t have to use your credit cards during an emergency.

7.) Set up a goal to get out of debt. Getting out of debt is a huge step; however, make time to create a debt management plan and take action on it.

Living without credit cards may not be convenient at first, but once you get into the habit of using cash, you’ll not only spending less, but also paying off debt sooner.

How to Make a Living Without a Job

Do you wake up in the morning dreading the day ahead because you hate your job? Are you at the point in your life where you have worked for years, maybe decades, but you have had enough and are ready to strike out on your own? Good for you! Do it! Quit your job!

Did you just panic at the thought of quitting your job? Are you thinking you wish you could but you still need the income? Did you know you actually can quit your job and still make a living? How? By starting on your pursuit of joblessness and making a living without a job. By finally taking control of your life and living the life you deserve. By living your dreams and earning a living doing work you are passionate about.

No, it’s not a pipe dream. Countless others have taken the plunge, quit their soul sucking jobs and created income streams using their talents, skills and passions. Wouldn’t you love to wake up in the morning (when your body wants to wake up, not when a jarring alarm clock forces you to) and actually look forward to the day? No more stressful commute to a workplace that causes anxiety and is detrimental to your health. Spend your days doing work that makes you happy for a change! Get paid to do “work” you enjoy. How?

Think of two or three activities that you enjoy doing. Think of one or two skills that you know you do well. Do you have a hobby that you love but rarely have time to enjoy? Let’s combine some of those items to create a non-job for which you will be paid.

Maybe someone enjoys cooking and traveling and swimming. And they happen to write fairly well, or even just so-so. And their hobby is collecting 1st edition books from their favorite authors. How would this person make a living from these activities? Are you stumped already because you can’t imagine how someone would combine cooking and swimming and collecting books? Ah, you are making this more complicated than it needs to be. How about if this person draws upon their writing skills to create a blog (monetized of course). They can write about any one of their favorite activities or their hobbies and voila! Instant income stream!

Of course for a beginner there isn’t much money in one blog. But set up several blogs (one for each passion; super simple and costs next to nothing) that are sprinkled with advertisements (you get a commission from the ads) and there is one simple way to make a living without a job.

Another income stream could employ their love of cooking. They could start putting out the word that they can cater small parties. Or they can offer their services as a personal cook for busy families. Or they can start a cake decorating business. They might go in a totally different direction and offer cooking classes for kids on weekends or set up a summer “camp” offering cooking classes.

Where there’s a will there’s a way! If you are dying to quit your job and live your life joyfully jobless start developing your income streams today.