Antbag.com

Jonathan at SmartWealthyRich is running this contest, where he’s giving away a copy of the book, Secrets of the Millionaire Mind. I’m not sure when the deadline is, but there’s still time if you would like to participate. I like to read, and I like money, so it sounds like a good deal to me.

So the question is, “Why would I like to be a Millionaire”? Well, I think it’s natural to associate money with less stress. In other words, “if I had plenty of money, I wouldn’t have to work, and I wouldn’t have to worry about how I’m gonna pay all my bills, etc.” However, I think having money would not necessarily be less stressful. It may be a different type of stress. Not stress to survive, but stress to manage and keep. I think having to manage and hold on to your money might be easier to deal with.

When I consider myself with a million dollars, I don’t really see myself in a fancy car or living an extravagant lifestyle. I think I would certainly pay off my debts immediately, but aside from that, I think I would want to figure out how to leverage that money to create an income. If you only made 10% per year off of it, thats $100k. $100,000 of debt-free income sounds pretty good! That would let me provide my son with the best opportunities and it would free me up to try new things, regardless of the profitability.

So maybe if I win this book, I’ll learn all the secrets…..

Tags: Goals, Money, Personal Development by Anthony ∗ 5 Comments »

In my family, I come from a long line of traders. My dad, my brother, others in my extended family, like to buy and sell things. Preferably to turn a profit. This includes almost anything, but mostly cars, boats, etc. I instinctively want to do the same thing. It’s in the blood-line.

A year or two ago, my dad bought a bright red Chevrelet Silverado that I’ve admired since he got it. Well, now he has another vehicle, and this one’s for sale. I really like this pick-up truck. I can afford to buy it, but it would set me back on reaching my other goals.

Ok……..I admit it……..I have pictured myself driving it!

The truth is, my other goals are more important than some vehicle. I think this is a perfect example of keeping your eye on the prize when you have your goals set. Financially speaking, there always are, and there always will be “opportunities” to get you off track. The bottom line is, I never really considered it, because the decision was made at the time I set my financial goals. I’m not upgrading my vehicle, until I reach a certain point. I still like the truck, though.

Do you have a hard time staying on track?

Tags: Goals, Money by Anthony ∗ 2 Comments »

Have you ever noticed how some people seem to draw bargains like a magnet, while others pay top price for everything they purchase? If there are so many bargains available, why would anyone pay full price for anything? Well, I believe it boils down to several different types of people, and the way they make buying decisions.

A Simple Truth

Whether it’s fair or not, the people who get the best deals are people who have money. The guy who never has a dime to his name will always pay full price or more. As a matter of fact, there’s a whole industry that preys on the penny-less. That’s how credit card companies and cash advance establishments make so much money. They catch people when they’re down, and tack on the interest!

Why do people with money get better deals? Someone who always has money in his/her pocket gets the best deals for a variety of reasons. Here are a few of them:

1. They can buy NOW……..while the deal is hot.
2. If they were to borrow money, they are less risk for a lendor.
3. They will be offered bargains because of their ability to buy.
4. They know needs and emergencies are coming, and they are prepared…..which gives them money.
5. They know standard prices and seek discounts.

So it all comes down to having money. Always having money doesn’t necessarily mean that you make a LOT of it. It just means that you don’t spend every penny you get. It’s important to learn how to carry money in your wallet or purse, and not spend it. If you can do that, there will always be opportunities to save money on purchases. You just have to be prepared to take advantage of those opportunities when they present themselves.

Tags: Best Practices, Goals, How To, Money by Anthony ∗ 4 Comments »