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How to Fix Your Personal Economy
1664 days
The secret to improving your wealth and fixing your personal economy is found in 3 steps. Once you take those steps you will find the prosperity and lifestyle so many only dream of. So let’s get started!
Step 1: Reduce Debt
One of the biggest obstacles that hinders your prosperity is debt. Debt is the #1 cause of bankruptcy, and it disrupts savings and investing. So let’s use a simple but powerful strategy that can help you reduce your debt faster than usual.
This strategy is called “debt stacking” or “snowballing”. It uses the concept of stacking payments to counteract compound interest.
Here’s how it works:
- Make a list of all your debt accounts that have a balance. Do not include accounts that can never be paid off, such as utilities.
- Next, sort them in order from the smallest balance to the largest. Typically, your mortgage would be at the bottom of the list.
- Make the minimum payment on all accounts. This step is very important at this stage.
- When the first account at the top of the list (smallest balance) is paid off, use the payments you were making on that account to add to the next account on the list.
Example: You were making a minimum payment of $30 monthly on the first account and $50 on the second account. When the first account is paid off, add the $30 payment to the second account ($30 + $50 = $80 payment to second account).
Continue down the list until all accounts are paid in full! WOW, you are now debt free!
Note: Any extra money paid should be directed to the account with the lowest balance. Spreading extra money across multiple accounts renders this technique ineffective.
Step 2: Increase Income
There are several different ways you can increase your income, but we will focus on business ownership in this section. There are 3 options to consider when it comes to starting a business. First, you could build a brick and mortar business from the ground up. However, many traditional businesses fail for a great many reasons ranging from insufficient capital to lack of knowledge. But if you have enough capital and know-how, you can be successful.
Second, you can buy a franchise. There is a wide variety of franchises in many sectors of the market and your choices range from restaurants to repair shops. One of the major setbacks to this option is the fact that it may require a huge initial investment, and more often than not there is a reoccurring franchise fee that comes with the privilege of having a recognized brand. Very few people can afford this option, but it is still a good option.
The third option is a home-based business, which is one of the biggest trends in our economy today. There are many businesses to choose from in just about every industry, and the best part is that most can be started for less than $1,000! In some cases you can even get started for less than $500! If you choose the right one, you could have a full support system at your disposal. A home-based business is by far the best option for the average person to make a huge and positive impact on their finances.
Step 3: Reduce Taxes
After you start your home-based business, the advantages really begin. Uncle Sam will help you by allowing you to have some incredible deductions! Any expense you incur because of your business that you would not have incurred if you didn’t have a business is probably deductible.
What Deductions May Be Allowed
The cost of starting up your business, promotional materials, product samples, internet access, fax lines, lead lists, website fees, printing costs, briefcases, laptops, business cards, and home office furnishings all can be 100% deductible if they are used 100% for business.
The benefits of owning a home-based business doesn’t stop there. There are also car allowances if you keep good logs of the primary purposes of your trips.
Did I mention healthcare costs can also be tax deductible? Well, they can be!
The fact is Uncle Sam wants to help you run your own home-based business and will provide you with the deductions you need to help you lower your taxes. In fact, there are so many deductions you could actually start your business for FREE, depending on your start up costs and eligible deductions! ***Please see a tax professional to get more detailed information.
What are you waiting for? Every day you delay in starting your own business you are throwing away money in overpaid taxes. The only way to stop it legally is to start your own business now!
Fighting the evil forces of poverty – both yours and mine!
Robert Reed
The Mark of An Entrepreneur
0721 days
Most of us understand just how bad the economy has been over the last few years. We’ve had issues with higher food costs, increased gas prices, skyrocketing energy rates, and a shrinking
economy. But the worst issue of all is the loss of jobs.
In these tough economic times we can either rise to the challenge or be crushed under the pressure. My biggest concern has been how others have and continue to react to the current conditions in general and the struggling job market in particular.
There have been two primary reactions to the poor job market: (1) acquiring a second job, and (2) going back to school for an additional or advanced degree. Now, I’m all for higher education, BUT the problem with both of these responses is that neither of them addresses the problem…lack of jobs.
Consider this for a moment. If there are too few jobs, how does getting a second job solve the problem? Moreover, how does acquiring a degree help you get a job that may not be available? Aren’t there others out there with the same degree you are trying to get that are struggling in this very job market? Of course there are. Do you have 4 years to wait? Maybe. Does adding more debt solve your problem? Probably not.
So it becomes pretty clear that the solution to a lack of jobs is …Job Creation.
Enter the Age of the Entrepreneur
Entrepreneurs are born out of crisis and are by nature problem solvers. The “crisis” could be personal, or they could strive to solve a problem bigger than themselves. But make no mistake, effective entrepreneurs are indeed problem solvers. As for job creation being a solution to a poor job market, think about the effects one successful business owner can have on the market.
If you start a business and you plan for it to become successful, you will require the assistance of others – either as staff members or consultants.
For instance, you may need a bookkeeper or accountant, or you may need a lawyer at least to form your business entity. You may also need staff members to do paperwork, filing, customer service support, etc. But it does not end there. Consider professional services such as marketing and advertising companies, joint ventures, associations, suppliers and vendors. All of these people would generate an income because of a successful business. Now imagine thousands of successful businesses!
The truth of the matter is that entrepreneurship is the heart of an economy. Simply look at any nation with a struggling economy and you will find that free enterprise is on life support. Is it the solution to end all of our woes? No. There are many challenges that face our economy and it will take strong, smart, moral and financially literate leaders to solve them but it is up to the entrepreneur to relieve financial strife whenever and wherever possible.
“Fighting the evil forces of poverty – both yours and mine.”
Robert E Reed
How To Build Your Financial Ark
0874 days
How To Build Your Financial Ark
Unless you’ve been living under a rock the last three years you probably know that we have been and still are experiencing some economic turmoil. During this same time frame, the hottest industry has been precious metals. Gold and silver in particular have gone from $800 an ounce to $1,400 an ounce and $14 an ounce to $30 an ounce, respectively.
You may have also seen TV ads offering to give you cash for your gold. Have you wondered why they are doing this? And what about some renown financial minds stockpiling gold and silver while recommending you and I do the same? Not to mention countries like China buying boatloads of gold and silver as well as other precious metals. What do you think it all means?
What they all have in common is that they are building financial arks in preparation for the economic storm ahead. Are you?
There are some simple strategies you can utilize to build your own financial ark.
3 step plan to building a financial ark
The foundation should start with information and financial education. Information is stats, trends, regulations, graphs, etc., while financial education is what you will need in order to understand the information you receive.
You can use the next 3 steps to build an ark that can weather the upcoming financial storm (pun totally intended).
Step 1. Join a network marketing company, preferably a gold and silver MLM. Why? Because you will be positioning yourself in the hottest industry today. Can you imagine building and preserving wealth at the same time?!
Step 2. Buy both collector grade gold and silver as well as bullion. Why both? You ask great questions! Graded gold and silver are the kinds you can make a residual income with. Bullion is the money of kings and will be cheaper while being an awesome way of preserving your wealth with the weakening of the dollar.
Step 3. Help others do the same. It comes down to the words of the great motivator Zig Ziglar: You can have what you want if you help enough people get what they want. This is essential to building your wealth. You could do it on your own but you know as well as I do that it will take much longer. Truth is, wealth-building is a team sport.
And there you have it. A 3 step strategy to help you take advantage of one of the largest transfers of wealth since the Great Depression. Are you ready?
“Fighting the evil forces of personal poverty – both yours and mine.”
Robert Reed
David Wood Review by Robert Reed
1881 days
At first glance you may think of David Wood as a long, curly haired hippy surfer dude but underneath is something far more. I came across some of his articles not so long ago and found them very insightful especially from someone so young (under 30).
He seemed to really know his stuff but what really shocked me was his openness and brutal honesty when it came to internet marketing and network marketing. But before I allowed myself to get caught up in his juicy information I had to do a little research so I decided to check his Alexa rankings and blog statistics and this guy was the real deal.
What I mean is that he gets real results and shows you exactly how he does it. Some internet gurus tell you a lot of fluffy stuff without telling anything until you go further down the rabbit hole (sales funnel). I understand the need to build a list but the concept of “giving” before you get still applies.
I love the genre of “internet celebrity”. With a lot of scammers and fakes out there you can still find some real leaders out there that are making it happen. Leaders like David Wood but also Mike Dillard, Yanik Silver, Jay Kubassek, Gary Vaynerchuck , Seth Godin, Katie Frieling, and a small host of others. In fact, I wish to be part of such a elite group.
More on David Wood…
David has commanded a very generous income in a very short period of time, and the best part is most of his concepts dwell around the word FREE; which is very attractive to many people who are either just getting started, or who have already over spent and are not turning a profit online. It is amazing what he has done in a very short period of time. He has a background in mlm with Amway being his first stint and later joining iLearning Global as the #1 recruiter then switching to Numis Network to once again become the # 1 recruiter. Not bad for a guy who was living in his van 2 years prior. The only thing that makes his success even greater is that once you understand his dynamics you realize “wow” you can do it also. If you are serious about making money online the system he follows is a very intricate but very simple 4 step process. However you have to implement the entire system to work.
He uses content marketing, combined with video marketing. Using this 4 step process has literally allowed him to dominate many top positions on Google using his specific and chosen keywords. For the triple threat he also uses social bookmarking sites which ultimately give him optimum exposure.
However, if you are ready to discover how to build your business bigger bolder, faster click here to learn how to generate FREE leads => and sign up more reps with social networking, article writing, list building and blogging right away, visit my resource page.
“Fight the evil forces of personal poverty both yours and mine”
Robert Reed
