Tag Archives: Buffy the Vampire Slayer

Financial Freedom, Financial Independence, Investing, Retirement

Smarter Than The Average Bear Market

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Bear, Grizzly Bear, Brown Bear, Zoo

Please excuse the clickety-clack of my keyboard while I type ferociously thus, breaking the eloquent silence of God and nature.

As I write this the U.S. is in the midst of a global health pandemic. The Coronavirus has caused worldwide panic the likes of which I have never seen.

What is being labeled as Black Monday 2020, March 9, the Dow’s worst single-day point drop in U.S. market history. A record $20.2 billion has been pulled from stocks on March 13, the largest daily outflow ever.

This is different from the financial crisis of 2008-09, as it was a mortgage crisis not a health crisis then, but this is now what will likely lead to a financial and housing crisis. The economy has gone into a recession.

There were 3.3 million unemployment applications submitted last week alone. They are estimating 3.5 million submissions next week.

Over 500,000 workers across the hospitality, retail, and restaurant sectors have been furloughed indefinitely.

Store shelves are bare and low on necessities. Milk, bread, and eggs are some of the first items to go. Toilet paper is now the currency of the realm.

Schools, churches, libraries and hair salons are closed. It is pretty certain that millions of small businesses will close and never open their doors again.

Many large retailers may become insolvent and close their doors permanently.

Rent strikes are popping up all over the country in response to stay-at-home and shelter-in-place orders from state governors. However, it is April 1st and the rent is due.

As all of this is going on around me, I have to make a judgment call.

My hand is hovering over the buy button in my 401(k) account. My inner voice is saying go for it. You did the math. You did like financial blogger FIREcracker said and I mathed shit up! I knew I could come out ahead when the markets rebound. Stocks are on sale. I’m going down to the mat with the bear market. I’ve been here before and come back up every time. I take a deep breath and hit submit.

I have now bought over a hundred shares of various stocks as of March 31. Before, the market started crashing I transferred over $84,000 out of multiple stock funds and placed my bet on one Vanguard 500 index fund over the last two years. Why you ask? I’m taking my cues from a historical data approach and a sprinkle of Buffet wisdom.

Back in 2013, in a letter to shareholders, Buffet gave a piece of advice to the trustee of his estate after he passes, “wife’s inheritance has been told to put 90% of her money into a stock index fund and 10% into short-term government bonds.”

A portfolio set for a 90/10 allocation over a period from 1900-2014 had a fail rate of 2.3%. That means a success rate of 97.7%! Therefore, I am not scared.

Others are panicking, but I choose to keep a cool head. My investing advice is sprinkle some Buffet on it. It’s the wild west out here. I could place a huge bet and get my wings clipped like Icarus for traveling too close to the fire of the market. After all, it is a fire sale on stocks going on right now.

However, I can’t let fear stop me. I have weighed the risks. And decided to take those calculated risks.

You see I have 100 years of stock market knowledge behind me. Past results do not guarantee future results, but whenever history turns it backs on the market, then during the rally the market turns it back on you.

Those who do not feed the beast are later consumed by it. Financial literacy has been my guiding light in these dark times we suddenly found ourselves in.

I have been thrown in a cave with the bear market, but like Yogi, I have learned to be smarter than the average bear.

Some of you may be surprised that I am using Yogi Bear as inspiration to invest, but let’s not forget he always seemed to outsmart Ranger Smith and get that coveted picnic basket.

Yogi Bear - Wikipedia
Image from Wikipedia

Therefore, fear will not take me under for I have knowledge my friends. And knowledge is the slayer of fear. While Buffy slays vampires, I slay market gyrations.

I like to take Buffet’s advice to bet on America. He says, “From a standing start 240 years ago — a span of time less than triple my days on earth — Americans have combined human ingenuity, a market system, a tide of talented and ambitious immigrants, and the rule of law to deliver abundance beyond any dreams of our forefathers.”

Yes, indeed America has.

That is incredible growth for a country that was just started with 13 original colonies in 1607 to become the biggest economy in the world, as other civilizations are far older than America.

It must have felt the same way for Neal Armstrong when he took those first steps on the moon for mankind in 1968.

That is incredible growth to go from walking on the ground, to the rocket, to the moon considering less than 70 years ago man had just learned how to fly in a little place called Kitty Hawk.

And when I threw open my personal finance go-to book, it looks as if I am not the only one who calls on the sage advice of the finance world’s Obi-Wan.

I found that financial blogger J.D. Roth of Get Rich Slowly also listens to the man they call “The Oracle of Omaha” Warren Buffet.

Here is an excerpt from the 2009 New York Times best-selling book I Will Teach You to be Rich: No Guilt. No Excuses. No BS. Just a 6-Week Program That Works by Ramit Sethi. The blog post was titled: HOW TO WRESTLE WITH A BEAR—AND WIN Why I’m Not Worried About the Economy.

Wall Street is fear-stricken it will have banks and businesses go under and lose countless millions in the process.

Main Street is panicked that it can’t make rent to pay Wall Street.

When Wall Street head honcho and real estate billionaire Thomas Barrack Jr. speaks of commercial mortgages being on the brink of collapse, you spark panic all around you.

Mr. Barrack of Colony Capital predicts a “domino effect” of catastrophic economic consequences without prompt action to keep borrowers from defaulting.

I know that may keep some people on the bench, but I prefer to keep swinging for the fences.

You’ll never get a hit from the dugout.

Millionaires are made of Teflon. They keep betting when the house is cleaning up. They just keep on swinging. You miss 100% of every shot you don’t take.

I once remember reading that millionaire’s know they are made by saving ten bucks at a time.

Pundits are instilling fear when they should be telling long-term investors to stay the course. The wealthy know better. They keep investing because that’s what winners do.

Millionaires are smarter than the average bear.

Bankruptcy

Retail Apocalypse Coming To A Storefront Near You

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It was a regular Monday.

Or so I thought.

The birds were chirping, car horns were blaring and then the news hit **BAM!! POW!** kind of like in those Batman Comics.

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Spread all over the news was that Retailer Forever 21 had filed for chapter 11 bankruptcy.

The US is now on pace to having a record 12,000 store closures by the end of 2019.

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The reason Forever 21 bankruptcy filing stings so much is that the retail sector has lost nearly 200,000 jobs since the start of 2017.

It seems as if the retail sector is having its own market correction. So many businesses were in a constant state of new store openings, ribbon cutting, and champagne toasts that they failed to stockpile any cash for a rainy day.

With many consumers maxed out after all that easy credit flowed like champagne, it is now time for companies to pay the piper.

However, it not just that companies are bleeding cash due to heavy rents and debt obligations. There also is this little thing called a trade war going on. The trade war between the United States and China isn’t helping any. But if we really think back, most retailers put themselves in this vulnerable position by spreading themselves too thin.

Chasing after never ending profits in the quest for the retail equivalent of the holy grail: increased annual revenues.

Think Subway’s $5 footlong. The world’s largest fast-food chain closed more than 1,000 stores last year (Subway closed 1,100). Subway started its restaurant purge in full force in 2016, when it had more US closures than openings for the first time in its history. It said it plans to keep closing restaurants as it tries to become more profitable.

There is also a restaurant apocalypse going on as many as closing including Pizza Hut, as they are getting out of the sit-down restaurant business. It’s becoming a strictly carryout and delivery pizza chain, like Domino’s and Papa John’s.

However, these companies boxed themselves into a corner. What happens when easy credit dries up and customers are no longer willing and able to shop? It’s kind of like that scene in Indiana Jones. You know the one I’m talking about.

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As most companies have no leverage with creditors after a bankruptcy filing, in many cases they lose equity or control over their companies.

Like what happened to American Apparel. The owner went public and was rewarded handsomely with hundreds of millions in stock. Once the company filed bankruptcy in 2011, share prices went from as high as $15.80 in 2007 to being worth less than 80 cents. The owner had over 800,000 shares of his stock and pretty much 100 percent of his net worth locked up in the company. I’m guessing he never heard of a company called Enron. If so, I doubt he would have so much of his fortune in just one stock. Anyway, what happened next is just heinous. The owner went from $500 million to $0 in net worth once the company went bust.

Some people have no idea how invested an owner is in a company until the tide goes out and see who is swimming naked, which basically means in heavy debt.

In recent retail headlines, stores such as Gap, Charlotte Russe, WetSeal, DEB, Rue 21, Gymboree, Charming Charlie, and Toys’R’Us have all thrown in the towel. What makes Forever 21 stand out in this sea of closures is that the retailer is still owned by the founders. However, they too are having profits squeezed by online shopping and e-commerce giants Amazon and Walmart.

Most retailers in these modern times in the age of Instagram are turning more to debt and becoming highly leveraged as a result. This hurts businesses in the long run. Those who manage to avoid piling on too much debt and stay lean are the ones who manage to stay open and profit.

According to Jeff Spross, avoiding the clutches of private equity can make or break a company. For example, after being bought by a trio of private equity companies in 2004, Toys ‘R’ Us’ debt burden rose from $2.3 billion to $5.2 billion in 2017, while its cash stockpile shrank from $2.2 billion to $301 million.

Simply put, private equity firms take the companies cash in the form of fees and replaces it with debt. Once retailers are unable to sustain the high interest payments on this new debt that was supposedly needed in order to expand operations, then the business goes under.

This wave of bankruptcies is therefore not a coincidence as many retailers were highly leveraged but didn’t file for bankruptcy until the interest kicked in and the bills came due starting in 2019, which will continue through 2025.

The retail chopping block is brutal as store closures can hurt stock prices, brand loyalty, consumer confidence, and retailers bottom lines. For instance, many companies are notifying employees in some cases only days before store closures.

That was the case with Dean & DeLuca in Georgetown as they were riddled with debt and couldn’t pay their vendors. The company was so backed up on rent that it racked up $96,000 in back rent and started get hit by lawsuits from angry suppliers. One funny line in this NY Post article read “Can’t afford that $45 box of cookies at Dean & DeLuca? Neither can Dean & DeLuca.” The domino effect and trickle-down economics also lies in the fact that vendors may go out of business due to Dean & DeLuca’s failure to pay them thus putting more employees out of work and out of a job. The company knew it was bleeding money for years, but only informed employees of its closure less than 72 hours before closing up shop for good. Some of these employees had been with the store since it opened in 1993. After 25 years, these employees got no severance. To add insult to injury, they also defaulted on some employee salaries, which is a double-whammy; no paycheck and no job.

This let’s you know that the employee is the sacrificial lamb that gets slaughtered when a retailer takes all the money out of a company. This feels reminiscent of the rumblings I heard about WeWork before their failed IPO.

According to Scott Galloway, WeWork had numerous red flags:

My goddaughter informed me she’s dating a club promoter, a red flag. Occasionally, red flags marry each other, the Biebs and Hailey Baldwin — what could go wrong? So now, imagine red flags the dimensions of Kansas. Buckle up:

— Adam Neumann has sold $700 million in stock. As a founder, I’ve sold shares into a secondary offering to get some liquidity and diversify holdings. Ok, I get it. But 3/4 of a billion dollars? This is 700 million red flags that spell words on the field of a football field at halftime: “Get me the hell out of this stock, but YOU should buy some.”

— Gross margins are a pretty decent proxy for how good or bad a business is. And this is a sh**ty business.

When the CEO (Neumann) wants to sale so many shares, it gives me pause to wonder why? If you don’t believe in your business (they never turned a profit), then why should I?

One retailer that managed to avoid debt, store closures, and heavy job losses due to avoiding debt and private equity is Best Buy.

Therefore, it is a simple recipe, kind of like KFC’s Kentucky Fried Chicken 11 herbs and spices with a secret ingredient (white pepper in case you were wondering), that will keep retailers or yourself out of the evil clutches of debt. I will share it with you. No debt + tons of cash = solvency.

You cannot go bankrupt if you owe no one.

You can put that last sentence on my tombstone. Like Drake and 2 Chainz, when I die bury me inside the casket that paid for with cash, put my money in the grave because in the next life I’m trying to stay paid. But seriously, I’d rather you expand your business or wealth portfolio slowly with cash than quickly with debt.

Always remember that patience is not only a virtue, but it is how you can avoid debt through delayed instead of instant gratification, which is how you get and stay rich.

My goal here is to help you along your wealth journey. I hope this post helps you do just that. You are not alone. Have a question? Drop me a line.

And as always, if the retail apocalypse comes…

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Financial Freedom, Financial Independence, Saving

Lipstick Confessions: Confessions Of A Teenage Waitress

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Lips, Taboo, Secret, Silence, Mouth

You read that right.

Like Usher, these are my confessions.

Lipstick Confessions that is. 💋

Not Confessions of a Teenage DRAMA QUEEN. Even though I was a teenager, but of a TEENAGE WAITRESS!

Being a waitress was a humbling experience.

After reading about Financial Samurai working for $3.50 an hour at McDonald’s, I was inspired to share my story of making $2.39 an hour + tips while waiting tables at Shoney’s.

It was early experiences like that that shaped my attitudes toward money and work today.

It is also a reason why I try to tip well.

I believe in being a good tipper because that is how people make their living. My father always says tip well enough for people to feel it. I concur.

A waitress is a pretty grueling job.

You are on your feet for hours on end. You must constantly be moving and taking orders or picking up food. Then there’s the nonstop cleaning, folding of napkins, packaging silverware, putting ketchup, salt and pepper and other condiments out and etc.

That early job experience was enough to make me want to work and study so hard while I was young, so that I would not have to when I was older.

This job and other hardships are what drove me to dig my way out of debt and start saving over 40% of my after-tax income.

I have always been thrifty and a saver.

It is because of that, I knew I could not marry someone that is fiscally irresponsible and stay married to them. It just wouldn’t work.

See my post on Why I and Halle Berry Save Soo Much

I have never had the urge to go rent a Mercedes-Benz, drive down to Vegas, buy lottery tickets at every 7-eleven along the way, buy a $4,000 Cartier wrist watch just cause you know bosses gotta be on time, visit a psychic who says my lucky numbers are 4,5, and 6, and then bet it all on black.

Nope. I have not given any of that any thought at all.

Except maybe that the color of the S-Class Mercedes with a 3-layer fabric top is impeccably crafted for coupelike comfort, sleekness and outward views when it’s up, or vanishes in under 20 seconds, even as you accelerate to 30 mph should be silver.

Other than that, no thoughts whatsoever!

See my posts

Finance Lessons From Flipping Vegas

Mega Millions Win Or Bust

At age 17, I was a teenage waitress.

It would be six years before I began my career working in finance, banking, and loans.  

And a full decade after that waitressing job, before I got hired to work at a top-tier private university with excellent benefits.

But first I had to pay my dues.

SLINGING HASH TO MAKE A BUCK

I looked down at my bank receipt.

I had about $10 bucks in my bank account. I was BROKE!

I needed a job.

Being only 17 didn’t provide me with too many options, but as they say, “beggars can’t be choosers.”

I heard the local Shoney’s was hiring wait staff. To my surprise, I applied and got the job.

We went in for training at around 9 am the next week after being hired.

My uniform was black pants, white button shirt, sneakers, a small bow-tie and a black apron.

I only worked there for one summer.

That was long enough to realize I did not want to make my career in the food service.

I knew this was going to be the first, last, and only job I ever took that dealt with serving or making food.

See my post Fast Food Nation

After reading the book Nickel and Dimed, I felt that the author expressed my views on how she and I observed the treatment of low-wage workers was pretty spot on!

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The job: take orders, greet customers, keep the restaurant clean, and serve food.

Sounds simple right. Wrong.

We had a busy body manager. Chaotic shifts. And lulls in customers.

Shoney’s was an eat-in restaurant (mostly was a buffet place) that started in Tennessee, but had restaurants in the Mid-Atlantic region.

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So many people opted for the breakfast mostly leaving afternoons and dinner times pretty sparse inside. 

That means little to no tips!

Not something I was told upon being hired.

Some of the food on the menu looked better than it actually was in-person, but all the food was at least good.

And no matter how hard I worked, it never felt good enough to our nitpicking manager who was always so concerned about how she looked in the eyes of the suits at corporate.

She was too busy kissing their a$$ to worry about us lower employees on the totem poll.

Little good it did her.

She was a ball of constant worry and stress, a chain smoker, and overweight. This was our manager. Our fearless leader?

Is this what management is supposed to look like in America or was this just her issue?

There has to be better ways for her to almost be eligible for food stamps and make a buck, but what do I know.

My lunch break was the only thing I looked forward to because it was the one-time no one could give you any orders and you could get off your feet and rest.

I usually ate a Philly cheesesteak because it was just so good. Calories be damned!

Even some of the cooks seemed disgruntled. They liked to flirt with waitresses and I think one was dating one of them! Whatever.

I just needed the cooks to be happy so that I could get food out piping hot and fast so I could make this money.

I need those tips!

After calculating the $2.39 an hour, working 40 hours a week would only get me $95.60! And that’s gross not net! 

Anyway, I now had to deal with the situation.

The goal was to have spending money to hang out with my friends and buy all the cool stuff I always wanted but could never afford.

To be so young and naïve. If I would have been thinking, I should have started tucking money into a Roth IRA. I would probably have had less anxiety when I got my first REAL job!

If I would have saved just $2,000 a year from ages 16-26, without adding another penny, in 40 years that money could have turned into $1,586,894.95 at a 10% return with compound interest! That would have required me to only stash away $22,000!

Just some food for thought right there. Start investing young!

WELCOME TO THE WONDERFUL WORLD OF TIPPING

Like the first episode of Buffy the Vampire Slayer, “Welcome to the Hellmouth,” I was welcomed to how cheap people really are.

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Tipping is the holy grail of waitressing and bartending.

See my post on Money Tips From Buffy The Vampire Slayer

Make that money honey.

I had a wide range of tips, as anyone who works for tips can tell you.

My range was this: $0 to $27.

The highlight of my night was always counting up my tips when I got home. I think the highest I ever got was $100 bucks in one day!

I know that may not sound like a lot, but to a high school kid in the 90’s that was good money.

Things were also cheaper back then as well.

You bought the item, like a pair of shoes or video game, and then the transaction was over.

Not like subscription mania that has now swept across the nation.

See my post America is the land of subscriptions

One of the smallest tips I ever got was from 2 girls I went to high school with. We were not friends but I didn’t expect to only get a $1.17 tip! That was basically the change from the meal they just ate and paid for. Maybe they should have put in an application to work here too!

I remember one time in college when I got a ride home from a weekend class I was taking (I was doing 6 classes that semester), telling me she worked at her brother’s restaurant and she made sure to be on point in order to get that $20 tip!

My days at Shoney’s was long gone by then, but I remember thinking it is far better to work at a higher end restaurant like her because you can make more money.

Lesson Learned: Focus working or catering to high-end clientele that can afford to pay for your services.

SAVE LIKE YOU WILL LIVE FOREVER

Have you ever heard the saying “Live like tomorrow is your last day on earth?”

Well, I like to save like I am going to live forever.

I learned this lesson, like James Brown said, you have to Pay the Cost to be the Boss.

That song and The Payback made me want to get my act together.

I put a plan into action. I was going to save money out of every paycheck.

It took years to make happen, but I went from saving nothing to putting aside 9% of my income. Then from saving $1 a day to $13,000 a year!

The plan had been to stop living paycheck-to-paycheck. 

That was okay, but I needed a goal. Something to aim at.

So I picked a number. $13,333 was that number.

I chose it for a few reasons: 1) The number 3 is my favorite number; 2) I saw that another blogger was saving that amount per month so I aimed to duplicate that, but started smaller; and 3) I did the math and discovered I could have over $100,000 cash if I did this for about 7.5 years.

I also knew it was possible that if I invested $100k in the stock market that after 30 years without adding another dime, I could have $1 million shored up for retirement.

Considering that about 20% of Americans have $0 saved for retirement, I knew that I better prepare because tomorrow does come.

The future is going to happen.

If I was going to bet on anything, I would bet on that. Forget Vegas. You can bet the farm the future is coming. And it’s coming fast!

Remember that 9% I mentioned earlier. Well that small sum turned into a small nest egg of $25,000!

And most of that sum is invested in just a few stocks!  

The power of compound interest baby!

Pro Blogger IRA # 1 of 3 (Personal Finance)
Traffic Estimate: 50,000 pageviews
Pinterest Estimate: 48,000 monthly viewers
Stock Price Stock Quantity Current Balance
AAPL $201.35 37.256 $7,501.50
AMZN $1866.86 5.000 $9,334.30
Total
    $16,835.80

Source: GreenbacksMagnet.com

I hope this post inspires people to understand the value of a dollar and that paying off debt and saving are far better than blowing all your money on things. 

Invest and watch your money grow!

Blogger Interviews, Financial Freedom

A Look Behind the Man and the Mohawk: An Interview with Budgets are Sexy

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Image: Budgets are Sexy

Boys tell stories ’bout the man. Say I never struggled, wasn’t hungry, yeah, I doubt it – Drake, Started From The Bottom

So, who is the man behind the mohawk?

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Well, you’re about to find out.

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Just who he is.

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But first…

A shout out to all things hearts and flowers. Valentine’s Day is coming!

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Valentine’s Day!!!

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Dean: Where am I going?
Sam: Dean, it’s Valentine Day. Your favorite holiday, remember? I mean, what do you always call it – uh, Unattached Drifter Christmas?😂

Q: What did cavemen give their wives on Valentine’s Day?
A: Lots of ughs and kisses.

As you can see, J. Money is all about the love.

And so this joke is for just for you J$.

Q: What did the calculator say to the pencil on Valentine’s Day?
A: You can always count on me.

Okay. All jokes and kidding aside.

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Who are we talking with today about the sorted topic of coin? Blogger extraordinaire J. Money of Budgets Are Sexy

Sometimes I am two people. Johnny is the nice one. Cash causes all the trouble. They fight. – Johnny Cash

Let’s find out the man behind the money and the mohawk?

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Let’s not waste any time. We’re diving right into the interview.

THE INTRODUCTION 

GBM Miriam: It was great meeting the one and only J. Money at FinCon 18 in Orlando. Congrats, on being an 11-time Plutus Award winner for your blog Budgets are Sexy. You can see more about what others are saying about his blog on his press page. The accolades are well-deserved. I even included him on my list of Money advice that 10 Bloggers told me blog post! That’s because J$ does not hold anything back when it comes to talking money.

Imagine my surprise to meet the man I had been following along to and reading his stuff for the past several years.

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He was extremely nice and down-to-earth. One of the friendliest guys I have ever met!!!

He never ceases to amaze me with his sheer enthusiasm for life, unbridled passion for what he does, his unmatched love of talking all things money, and incredible charisma and good vibes is almost like nothing I have ever felt!

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It was so great to meet him. He is just awesome to be around. You can never feel bad around J$. I dare you. He’s just too friendly and cool.

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I had to reach out and ask for an interview.

MEET J. MONEY (J$ FOR SHORT 😉

This is how it feels to meet J$.

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Fun Fact: Both Carl Weathers and Schwarzenegger have starred in films with Sly Stallone. Carl Weathers had famously done Rocky just a few years before he did this film, Predator, with Ah-nuld!

For those who don’t already know the award winning blogger.

Like Jay Z said, “allow me to re-introduce myself.” 

J$ STARTS A SEXY BLOG 

1. What prompted you to start a blog about money? Why are budgets sexy?

I fell in love with the community after searching for tips back in 2007 when I bought a house with no money down and no budget whatsoever (*gasp*). I was entranced by how real and RAW people were online – especially those sharing their net worths! – and after a while I thought I’d jump into the ring myself and have a little fun… Had no idea it would completely change my life, and my finances, over a decade later!

I came up with the “budgets are sexy” concept around the time Justin Timberlake’s “I’m bringing sexy back” song was charting, and thought it went well together since budgets essentially gives you the one thing that we all strive for – confidence. The confidence to know where your money’s been, the confidence to know where you’re money’s going, and then of course the confidence it gives you within just knowing you’re on top of the game! And how sexy is that??

So, you just decided to toss your hat into the ring! Wow. That’s it. Just jump out there. Well, that’s awesome.

You only live once, that’s the motto…YOLO – Drake, The Motto

I guess you really did take YOLO to heart. ❤👍

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Well, alright! 👌

GBM Miriam: I read the Financial Diet by Chelsea Fagen and was pleasantly surprised to see you were featured in it!! Congrats!!!

2. Any favorite finance books? How come? 

My top 3 favorites are:

  • “I Will Teach You To Be Rich” by Ramit Sethi (good for action taking and funny as hell)
  • “The Automatic Millionaire” by David Bach (also good for action taking)
  • “The Millionaire Next Door” by Thomas J. Stanley and and William D. Danko. (good for your *mind!*)

I also love “Essentialism” by Greg McKeown, which isn’t a finance book, but more of a lifestyle/career one which heavily influences what I spend my time on, and more importantly – what I don’t.

GBM Miriam: On your blog it states: “A personal finance blog that won’t put you to sleep.” – Benjamin Franklin

Great! Because I liked to be entertained. I don’t want to be put to sleep! I want to talk money and have some fun. They say, give the people what they want.

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I thought that quote on Franklin was pretty funny because I did a blog post on the how the 13 virtues of Benjamin Franklin can make you rich. I am a huge fan of his and that is why I like the Disney film National Treasure so much as it has B. Franklin all over it!

Are you a fan of Ben Franklin?

3. What are you reading right now? What’s on your night stand? 

I’m reading a lot of books on the history of my hometown, which I’m told is even more boring than finances 😉 There’s also a book on Benjamin Franklin that a reader mailed me – “Franklin’s Thrift: The Lost History of an American Virtue” – as he knew I’m a big fan of his habits.

Success is having to worry about every damn thing in the world, except money. – Johnny Cash

4. One thing people may not know about you?

I have mild O.C.D. as well as A.D.H.D., and I also hate public speaking… which sucks, because you could really grow an empire in this field if you love getting in front of a crowd! Here’s an awesome article I just came across btw for anyone else who suffers from “reading O.C.D.” (It’s a thing!) –> How I Overcame My Reading OCD

Started from the bottom, now we’re here. – Drake

GBM Miriam: I read online that you managed to amass $400,000 in 7 years. That’s no small feat.

I try to think positive. Write down my goals (cause you know, it’s all about the power of the pen). Visualize what I want and say my affirmations to make things come to fruition.

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But what about you? How’d you do it?

5. What’s in your wallet? How did you start building wealth? 

I’m super minimalist with my wallet (it’s actually a money clip), and I only keep a credit card in it, my debit card, and then cold hard cash along with my drivers license. Although now I realize your question is more about my proverbial wallet isn’t it? Haha…

For that I max out all my retirement accounts every year using Vanguard index funds, or more specifically – the VTSAX fund (I keep my investing simple too!). Went from $50,000 to $800,000+ by mainly doing that, along with of course cutting back and finding other avenues of income along the way… 

GBM Miriam: I appreciate that honesty right there. Thanks for keeping it 💯!!

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Just like the post you did called The Red Wedding of Net Worth Reports : $842,180.92 [Down $60,000! The Worst to Date]

You just put it out there. And that’s awesome. I need all the transparency I can get right now with the Dow Jones base jumping every other week.

I almost started to Birdbox myself like Sandra Bullock and only look at the stock market blindfolded, but then I thought to just go ahead and look at it, as it’s better to just rip a band-aid off.

Alright, it’s time for the bonus round.

My favorite part of every interview here on Greenbacks Magnet!!!

Bonus Questions (pick any of the questions from the top or below that you want to answer) 

7. What’s your favorite ’80s and/or ’90s jam? What’s on your ipod? Would you let us hook up your ‘Recently Played’ list on Spotify to our office speakers?

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Haha… I love old school rap, mixed in with a little pop and folk music for good measure. You could hook up my iPod Nano if you wanted (remember that one???) but it’s stuck in the 2000’s as I rarely download anything and tend to stick to the radio or vinyl… I love me some Johnny Cash or Chuck Berry action!

Chuck Berry huh? Anyone remember the film Back to the Future?

Well, here is Marty doing a cover of the 1958 Chuck Berry song Johnny B. Goode. Enjoy!

8. What would your autobiography be called? 

“Normal Guy Gets Lucky and Can’t Believe He Writes Down His Thoughts For a Living”

GBM Miriam: I love that title! That’s really funny, but sooooo accurate.

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9. If you found a lottery ticket that ends up winning $2 million. What would you do? 

Pay the taxes on it, spend $10,000 lavishly on friends and family, and then probably bank the rest into Vanguard funds and keep going about my business…

GBM Miriam: Smart move. Pay those taxes.

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In a weird way I actually DON’T wanna win the lottery as I want to see if I can hit financial freedom *on my own*. Not that I’d turn it down if I won, but I’d probably have to stop blogging since everyone would just assume it was the lottery that brought me to this place and write me off, haha… I already feel like I won the lottery anyways as you can tell from my autobiography! 😉

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If you notice we go from 9 to 12, that is because out of 15 (more or less) interview questions, all guests can answer whatever ones interest them the most. Skipping a few questions we move right along.

In the illustrious words of Pauly Shore, “let’s keep on cruisin’.”

12. Do you consider Monopoly to be a game that you play with friends or enemies?

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FRIENDS!! Why would you play it with enemies??? The only real problem with Monopoly is finding people who will actually *finish the game* with you since everyone bails after only like 30 mins!! The worst!!

13. If you could steal credit for any great piece of art, song, film, book etc which one would you claim?

GBM Miriam: Personally, I would want the Campbell Soup Cans by Andy Warhol.

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Painted around 1962, one painting (of the 32 cans he painted, which the canvases are on display at the Modern Museum of Art in New York) went on to fetch a record-breaking amount for an American artist of $11.8 at Christie’s auction house in May 2006. I do love some Campbell’s chicken noodle soup.

Andy Warhol also said, “the goal isn’t to live forever. It is to create something that does.” It is one of the reasons I chose to start a blog.

BAS J$: I’m gonna take the lame way out and say I wouldn’t steal anyone’s as I hate it when my stuff gets copped. Plus — I already suffer from Impostor Syndrome  just being *myself*, so there’s no way I could pull off being someone else even if I wanted to! 🙂

14. Which animal would make the best type of president if the animal kingdom ever rises up and takes over?

Unicorns? I don’t know anyone who hates them, and we sure do need some magic up in here to fix our world!! 🦄🦄🦄

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Unicorn!!!!!
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15. When it comes to making tea which answer most applies to you?

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a) I am the patron saint of tea, tea for everyone!

b) I’m not a one man Starbucks. Every man for himself.

c) I’ve only got two hands- so first come, first served.

D) COFFEE FOR LIFE!

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– J$
http://jmoney.biz

GBM Miriam: As there was only three options, J. Money decided to do a write in answer. As any boss would.

What I should have asked. And figured would be a coffee drinker’s answer.

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Well, that brings us to the end of this interview. This was a fun post and I hope a good time was had by all.

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GBM Miriam: Thank you J. Money for stopping by!! I am sure we will see each other again at the next money meets media conference as FinCon19 is coming to DC! That’s right in our neck of the woods. 😉

BAS J$: thanks again for having me! fun and creative questions 👍🙏

Want more straight forward money advice from Budgets Are Sexy?

Find him on his  website or stalk him on Instagram and connect with him on Twitter at @BudgetsAreSexy 

Financial Independence, Saving

Money tips from Anya of Buffy the Vampire Slayer

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“I’m just so excited. They come in, I help them, they give us money in exchange for goods, you give me money for working for you. I have a place in the world now. I’m part of the system. I’m a workin’ gal.” – Anya (Season Five).

If you ever watched the show Buffy the Vampire Slayer, then you must have noticed Anya and her fixation on money.  You probably also noticed she changed her hair style… A LOT.

The show ran for seven seasons and was created by Joss Whedon.

The self-proclaimed Scooby Gang 

It started in the nineties and ended in 2003. It starred Sarah Michelle Gellar as the titular character, Buffy Summers. In my opinion, the first four seasons were on fire. The fourth was the absolute best one, to me. This is the only television show I have ever seen where when I finished watching one particular episode; I clapped. It was just that good.

Actress Emma Caulfield played Anya. In this reunion photo of the cast from 2008, she is the one  in the middle wearing the black hat.

ANYA’S BACKGROUND

Other Aliases: Anyanka, Anya Christina Emmanuella Jenkins, “The Patron Saint of Women Scorned,” Aud ; note that some sources refer to her as “Anya Emerson,” but that has not been confirmed in the show.

Birthdate: July 4th

Age: 1120

Anya: “What a day. Give me a beer.”
Bartender: “I.D.”
Anya: (glares)
Bartender: “I.D.”
Anya: “I’m 1120 years old, just give me a frigging beer!”
Bartender: “I.D.”
Anya: (sighs) “Give me a Coke.”

Year of birth: Unknown?? Around 880 AD

Marital Status: Single, formerly Engaged.

Known Relatives: Olaf (ex-husband), Alexander Harris (ex-fiancée).

Here is a short introduction to the comic stylings of Anya

Before we go any further on Anya and her love of capitalism, you should know she did not start on the show’s first season. She came along in season 3. In an episode titled, “The Wish.”

Below you will find out more about Anya and her love of money.

But first…

The star of the show. Buffy Summers.

This is, as the say in the film John Wick, a tasting of Buffy and what she does.

She’s awesome right.

Now, back to Anya.

One thing I could not get over was whenever Anya’s lips were moving, it was in your face truthfulness. Not the norm. Especially, her fascination with money.

What made her so funny was her greedy, materialistic, money hungry, capitalism-loving ways.

While Anya may have lacked tact, she had a way with words that really hit home. She was ridiculously straight-forward and honest. In some ways it was refreshing, but in others it was downright rude.

However, love it or hate it, she would tell people like it was. Anya was blunt. She kept it💯.

She had lots of witticisms.

Here we go.

WORK FOR THE MONEY, HONEY

Anya: “Thank you for coming. We value your patronage. Please come again for more purchases!”
Giles: “Could we perhaps be a little less effusive, Anya? We don’t want to frighten the people.”
Anya: “I’m just so excited. They come in, I help them, they give us money in exchange for goods, you give me money for working for you. I have a place in the world now. I’m part of the system. I’m a workin’ gal.”
Giles: “Yes. Well, why don’t you start organizing the shipping orders?”
Anya: “Oh, no, that’s boring. I just want to do the money parts.”

She tells it like it is. Anya never shied away from making a bold statement. She always said what she wanted. I have learned to do the same, but tactfully.

ANYA ON CUSTOMER SERVICE 

“Anya, the Shopkeepers‘ Union of America called. They want me to tell you that “Please go away” just got replaced with “Have a nice day.” – Xander

Anya says to customers, “Please go.” And Xander tells her the correct way to talk to patrons.

She then proceeds to yell at the next customer in a harsh, sarcastic tone, “Hey, you! Have a nice day.

Just a thought, it is nice to be courteous and pleasant if you want people’s patronage. Maybe, like this, but a little toned down.

They want me to tell you that "Please go" just got replaced with "Have a nice day".

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Anya: “Please go.”
Xander: “Anya, the Shopkeepers Union of America called. They want me to tell you that ‘Please go’ just got replaced with ‘Have a nice day.'”
Anya: “But I have their money. Who cares what kind of day they have?”

She is also very protective of the money and the cash register.

“Ring up sales? With the money? She gets to fondle the money? Customer! Hello, customer! How may I serve you?”

SLAY FOR MONEY

At one point, when Buffy was hard up for money, Anya suggested they she start charging for her vampire slaying. A vengeance for cash. A slayer for hire.

While it was good for a laugh on the show, her thinking was flawed, but accurate. If you are good at something and going to do it anyway, why not get paid for it.

ANYA ON CELEBRATING EARNING AND MAKING MONEY

“All I can say is, I hope we make as much tomorrow.”

She took pleasure in the little things.

Dance of Capitalist Superiority. Episode 6. Season 6: All the Way. Original Airdate October 30, 2001.

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See the video here.

I like to celebrate my wins and accomplishments too. They may not involve money dancing, but I like to recognize a job well-done.

Money is just a tool. It’s how we keep score. Money is the scorecard. That’s all.

I don’t have to celebrate with a $300 purse or bottle of champagne. I am just fine with a $15 bottle of wine. And investing the $285 difference in my Roth IRA. Specifically, in a 500 index fund.

ANYA’S MATERIALISTIC WAYS 

Willow: “It stole Giles’ car.”
Xander: “Why would a demon steal a car?”
Anya: “Why would a demon steal THAT car?”

ANYA ON CHILD LABOR 

Giles: “Then useful you shall be! We can always use a hand.”
Anya: “But you have a hand. A paid hand. A hand that isn’t the hand of the illegal child labor.”
Giles: “Anya…”
Anya: “But of course it’s wonderful that you find doing my job so distracting! I am unthreatened. Proceed.”

Well, at least she recognizes that it’s illegal.

ANYA ON THE VALUE OF HER TIME

She learned really quick that time is money and did not want to use up her precious energy doing anything that was unrelated to the accumulation of more money. Pretty shallow and self-absorbed, I know.

I value my time as well. I don’t try to do anything that doesn’t excite me. Except when it comes to helping others.

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SHE GIVES NO F#*K$

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ON VALUING HERSELF

Giles: “Essentially, their agenda is the same as ours. They want to save the world and kill demons.”
Anya: “Kill the CURRENT demons, right? CURRENT demons.”

This was funny because Anya is an ex-demon on the show.

ON VALUING HER MONEY 

Anya: “Spike! What are you doing? You made me yell really high!”
Spike: “Hey, yeah, I did. I scared you. Gimme money.”
Anya: “I’m not paying you for scaring me.”
Spike: “You’re not paying me. I’m robbing you.”
Anya: “Oh, well, that’s just ludicrous. You can’t hurt me because you’ve got that chip in your brain. Also, I like my money the way it is… when it’s mine.”

ANYA ON VALUING XANDER’S TIME

She loved her some Xander. But not at first.

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I thought they were great together. He really changed once he had her in his life. She recognized his value too.

Anya: “And after everything you’ve been through with Angel. You really should get yourself a boring boyfriend. Like Xander!”

Anya: “You can’t have Xander.”

LETTING XANDER KNOW SHE VALUES HIM

Anya: “Xander, you haven’t been paying any attention to me tonight. Just peddling those processed food bricks. I don’t know why.”
Xander: “Well, let me put it in a way you’ll understand. Sell bars, make money, take Anya nice places, buy pretty things.”
Anya: “That does make sense. All right, I support you. Go sell more.”

ANYA AND THE GAME OF LIFE

When Anya finds out her love of money is hilarious. In the Season 5 episode, “the real me”. Xander and Anya are babysitting Dawn and they are playing the game of Life when Anya figures it all out:

ANYA ON VALUING CHILDREN
We believe the children are our future

“Can I trade in the children for more cash? ”

http://chylerleigh.tumblr.com/post/91487927405

When playing the game of Life, she noticed she was burdened with a husband and children and tons of cash.

Once she learned that money was good, she gleefully delighted in saying she wanted more cash.

Anya: “Crap! Look at this–now I’m burdened with a husband and several tiny pink children, and more cash than I can reasonably manage.”
Xander: “That means you’re winning.”
Anya: “Really?”
Xander: “Yes, cash equals good.”
Anya: “Ooh! I’m so pleased. Can I trade in the children for more cash?”

Check it out here.

While it may have been cold and callous to want to give up the fake kids for cash, she did have a valid point in understanding that a having a family requires money and are a heavy load to bear. So, you better prepare for them.

ANYA ON CAPITALISM 

Anya: “I’ve recently come to realize that there is more to me than just being human. I’m also an American.”
Giles: “Yes, I suppose you are, in a manner of speaking. I mean, you were born here — your mortal self.”
Anya: (to Giles whose from England she says in a harsh tone) “Well that’s right, foreigner!” (to Willow & Xander in a softer tone) “So I’ve been reading a lot about the Good ‘Ol Us of A, embracing the extraordinarily precious ideology that has helped to shape and define it.”
Willow: “Democracy?”
Anya: “Capitalism!”

HOW SHE FEELS ABOUT MONEY

That one time when Buffy asked how was Anya’s money and her  reaction of pure joy. Like, one of the Scoobies finally gets her.

Look, I like money fine, but not as much as Anya.

I prefer people over things.

Anya was downright humdrum when it came to talking about money. Although, she was funny, at times she just lacked sympathy and empathy for the plight of others.

However, in the end, she chose to fight beside the Scoobies. So, people really did matter more than money. That is something we should all remember.

College, Financial Freedom, Financial Independence, Investing, Real Estate, Wealth

Money advice 10 Personal Finance Bloggers told me

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“Um, Anya, while I completely trust you to take care of the inventory and the money, um, dealing with people requires a certain… finesse.” – Giles, Buffy the Vampire Slayer

Yes, indeed. Say it with me, finesse. PEOPLE. REQUIRE. FINESSE.

I cannot tell you how many times I have done business with people and their attitude caused me to cancel my transaction. All I ask for is a little kindness. Being nice can go a long way.

If you are passionate about what you do, then you are generally more pleasurable as well.

People will forget the things you say or do, but they never forget the way you make them feel. I learned that from Maya Angelou. And it is so true.

Today, I want to share with you some advice from my peers. Money Bloggers.

I won’t talk your head off. Let’s dig right in.

1. MONEY IS POWER 

You better believe it. I read every contract. Cross every T. And dot every I.  The reason I have an Emergency Fund is for my peace of mind. It means no matter how much the government changes the laws, your job sucks, the lack of integrity around you, or people’s scruples, you are protected.

Here are some of my posts on the importance of emergency funds and having money in the bank.

How I went from $5k to a six figure 401(k) in 6 years  

How not to be house rich, cash poor 

3 Money Lessons from Til Debt Do Us Part 

How to get access to a $250,000 emergency fund with $0 of your own money

How to build an emergency fund 

2. LOOKS GOOD ON PAPER, BUT YOU NEED SIMPLICITY 

I say to people all the time to keep it simple. I use the KISS method. Keep it simple stupid.

In my experience, complexity leads to disaster. You need something you can understand and do without always needing the help of a professional.

I used advice from Warren Buffet and kept it simple.

How I used the Buffet 25 strategy to walk the talk

You don’t need money in 8 banks, 20 credit cards, and 3 homes if you can’t find a way to manage it. Simplify it. Hire a financial advisor and property manager. Or just decrease the amount of banks and credit cards you use, homes you own, and stuff you have.

No matter what, simple is best. KEEP IT SIMPLE!

3. YOU DON’T HAVE TO SPLURGE ON EVERYTHING

Absolutely, you don’t. I read a book years ago on health and fitness called Beyond Diet. She stated instead of buying all organic just get a few main items such as milk to keep your budget in check.

I have always spent my money on the things that mattered most. Namely, my health, education, a good pair of shoes, a good coat, and reliable transportation.

See more on saving and buying what really matters.

Money Lessons I Learned from Jay Leno 

Health really does equal wealth 

4. GET RID OF UNNECESSARY BULL$*IT 

Growing up, my father always said get rid of anything you don’t need.

To this day, I trash, donate, or sell anything I don’t need.

I try to live a minimalist life because I don’t want to have to buy a bigger home or storage locker just to house more STUFF!

Have you ever noticed its easier to buy stuff than it is to sell it?

Less stuff, more wealth. People matter more than things.

Less Home, More Wealth 

Money and Relationships…3, 2, 1

5. TEACH THE KIDS ABOUT MONEY AND THEY MAY BE ALRIGHT 

I take every chance I get to educate someone about money. I bought the Automatic Millionaire for my best friend years ago, so she could get better acquainted with Mr. Benjamin, cause it’s all about those Benjamin’s.

If you don’t teach your kids about money, they will grow up not knowing how to earn and manage it.

If your not sure where to start, check out my post on Scrooge McDuck. It’s kid friendly.

Money Lessons I Learned from Scrooge McDuck 

Introducing the $100,000 bottle of water 

6. START A MONEY DIARY 

You think you know where your money’s going, but you have no idea.

Well, welcome to the club. Most people have no idea where their money went.

I suggest you start tracking it right now. Yes, stop reading this post and go track your net worth right now!

You can only do better when you know better.

7. A CAR IS NOT AN INVESTMENT 

Don’t even get me started on cars. Like money, it is just a tool.

I paid off my car about a decade ago. Here is a screen shot of my $0 balance. I paid off that car and out that money to work for me. Forget cars! You do not need an expensive car.

It is a huge budget buster.

Just read any one of my gazillion posts on them.

A car and nothing more 

Life is good, without a car payment 

8.  GET AN EDUCATION 

I don’t care if you simply read books by rocket scientists, or you go to Yale like Rory, I just need you to get a good education.

Read my post on investing in yourself.

Forget casinos, bet on yourself

9. ASK FOR WHAT YOU WANT 

Ah yes, they say ask and you shall receive. However, you still have to ask and do the work. Nothing is for free.

The sorted topic of coin is a tricky one. Money is emotional. But side hustles can get you more money, so I say why not try to EARN money by doing something you are good at and do for free already.  Just a thought.

You want a million dollars? Ask for it

How being an outlier can make you rich 

10. FIRE’D UP, BEING GRATEFUL AND HELPING OTHERS

If you have been reading any number of personal finance bloggers, then you will inevitable come across FIRE (financial independence, retire early).

Fore more on this topic, you can check out a ton of FIRE bloggers such as Root of Good, Early Retirement Extreme, Go Curry Cracker, just to name a few and there are so many more.

You can even read this post by me, Greenbacks Magnet called How do you play with FIRE?

YOU HAVE MY PERMISSION TO PLAY WITH FIRE

How do you FIRE? Basically, you work your butt off when you’re young, live on like 50% or less of your income and save and invest the rest. You have a better chance of achieving this if you can save and invest 50-70% of your income.

From what I have read, most aspire to FIRE with 25 times their income. Could be anywhere from $500,000 to $2.5 million. Then live off the interest.

 However, whether or not you FIRE, you can help others. It can be done with money or time. Either way, with financial independence comes the ability to choose what you do, as you become the master of your time when you no longer have to punch a clock.

When is it time to leave your job and FIRE?

Ask yourself: Would you do this job for free?

You want to be able to do your passion right? Then, you have to make some changes. Leave the grind of the 9-to-5. Get out of the proverbial rat race. It all starts with what you earn and what you spend.

Financial freedom allows you to spend more time doing the things you want. You can spend more time with family, take more vacations, serve in the peace corps, help build homes for habitat for humanity, and the list goes on.

See my post Generosity can go a long way 

Well, there you have it.

Hope you enjoyed this post, as much as I enjoyed writing it. It was nice to remember some of the things I’ve learned along the way on my own journey to wealth.

Good luck!