I think everyone has heard this phrase before. But, what do people mean when they say time is money?
I look at time this way: we were given a certain amount of credit on this, but we cannot recharge it. You know; like one of those prepaid cards. Wal-Mart allotted me about 40+ hours to make $1600/month to live on. In Korea, when it is all said and done, I make a decent living, but every second is more precious than the last. I have to use those seconds responsibly; especially if I only have 30+ hours of free time per week. This is why I read a lot instead of partying or squandering money endlessly.
I do eat out; because I consider a cheap meal at a fast food place more worth my time, than slaving over a kitchen stove for 2-3 hours. What I am saying is, lately I notice I have been getting sucked into pointless debates. Is it fun to join them? Yes. Do they accomplish anything? Probably not. Am I losing money? Absolutely! Because time is money! I could spend that time off the Internet doing something contructive like solving world hunger or finding a cure for AIDs. :-O
Or better yet, meeting real people and having real social interactions. Think about that.... Peace~
Showing posts with label money management. Show all posts
Showing posts with label money management. Show all posts
Wednesday, April 20, 2011
Monday, May 11, 2009
Loans Are Bad
Now for those of you breaking into frugality, loans are the epitome of economic failure. If you think a loan will get you out of debt. you are sadly mistaken. It is debt. Like the saying "money begets money" debt begets debt.
The only true ways to go beyond your means from a 9-5 job is to get another job, invest, or to cut down your standard of living. The best advise is to go through the standard of living first, find the job, then invest for cash flow or revenue. While the market is in the pits and we are in the "Great Recession", it does not mean that you have to go broke with everyone else. That is a slave mentality.
Frugality mixed with investing is the turn key to your success. Continue saving money, but you will want to invest what you are not using. The rest of your money should be a windfall, but never invest more than 50% of what is in your account even if you are financially well off. One of the golden rules is never lose money. That rule has to be followed to a tee. In other words, research is three to five times more important than the money you put up because the money is just an end to gain more money. Do not go in on an investment unless you are certain you will gain money from it.
The only true ways to go beyond your means from a 9-5 job is to get another job, invest, or to cut down your standard of living. The best advise is to go through the standard of living first, find the job, then invest for cash flow or revenue. While the market is in the pits and we are in the "Great Recession", it does not mean that you have to go broke with everyone else. That is a slave mentality.
Frugality mixed with investing is the turn key to your success. Continue saving money, but you will want to invest what you are not using. The rest of your money should be a windfall, but never invest more than 50% of what is in your account even if you are financially well off. One of the golden rules is never lose money. That rule has to be followed to a tee. In other words, research is three to five times more important than the money you put up because the money is just an end to gain more money. Do not go in on an investment unless you are certain you will gain money from it.
Friday, January 2, 2009
Investments on the rise
Today is a wonderful day for me! WMT just hit $57 and Silver just hit over $11! However, this euphoria is just a fleeting moment for me. Silver will be surging in a few months. Those who have it now will be in awe as their portfolio triples and quadruples and those who did not believe will wish they did. Also it is my last month of rent and I am elated. I am moving again! Where to...somewhere way cheaper than where I currently live. Now is a great time to rent. It is a good time to buy property too, but this is just the beginning. If one waits the prices of real estate will falter even more.
Ahh, but there is a silver lining to the real estate cloud. For all those people that want to take that next step and buy property, there is a better way to do so. Banks are stuck with a bunch of land that they do not know what to do with. Meaning that they need to find a buyer to obtain revenue of their sale that just bellied up. This is where the money savvy has a chance to thrive!
Ladies and gentlemen, the worse word a real estate agent wants to hear. I wish to buy someone else's lien. There are lots of foreclosed properties on the market that need to be moved. It is like the "Clearance aisle" of real estate. There are also a lot of people that want out of their contract. Note: If you go this route, do not go towards a lien with a ARM (Adjustable Rate Mortgage). You just might lose an arm! Sure it might mean dishing out 50 to 60K, but you will actually get some mad equity on your investment. There are a lot of houses on the market, do not believe that you cannot get a lien. The recession is a chance of a lifetime and there will be some mad exchanges in the process. It all depends on what you are willing to spend out of savings for investing. If you start out, invest only 10~20% of your paycheck or monthly income. If you have debt, knock it out if it is a lot and then start investing.
Ahh, but there is a silver lining to the real estate cloud. For all those people that want to take that next step and buy property, there is a better way to do so. Banks are stuck with a bunch of land that they do not know what to do with. Meaning that they need to find a buyer to obtain revenue of their sale that just bellied up. This is where the money savvy has a chance to thrive!
Ladies and gentlemen, the worse word a real estate agent wants to hear. I wish to buy someone else's lien. There are lots of foreclosed properties on the market that need to be moved. It is like the "Clearance aisle" of real estate. There are also a lot of people that want out of their contract. Note: If you go this route, do not go towards a lien with a ARM (Adjustable Rate Mortgage). You just might lose an arm! Sure it might mean dishing out 50 to 60K, but you will actually get some mad equity on your investment. There are a lot of houses on the market, do not believe that you cannot get a lien. The recession is a chance of a lifetime and there will be some mad exchanges in the process. It all depends on what you are willing to spend out of savings for investing. If you start out, invest only 10~20% of your paycheck or monthly income. If you have debt, knock it out if it is a lot and then start investing.
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