“Simply put, unsustainable debt is helping to keep too many poor countries and poor people in poverty.” -Bill Clinton
I can’t stand debt. In any way, shape, or form.
It robs you (and your future self) of prosperity.
Every time I think of buying an item, I always think what would the future lost investment gains be.
For instance, buying a $40,000 car could end up costing you over $400,000 in future wealth! Pray tell. How can this be? It’s simple math.
Basically, if you invest that same amount and not a penny more, you could grow your wealth over 30 years to $402,506.28 with an 8 percent rate of return. Crazy right? Giving up mediocre present pleasures for incredible future comfort warrants astounding things.
Harry Houdini himself couldn’t concoct a magic trick so ingenious as the magic of compound interest.
Speaking of magic, let’s look at saving money as a magic trick the same way a magician would. Marvelous to behold, but truly done by meticulous planning and practice because as we know practice makes perfect. Isn’t that right Mr. Potter? 😂
MONEY SAVING MAGIC TRICK #1: SPEND LESS
By no means is it rocket science. Much unlike that hilarious scene in Robocop 3 when that guy walks in a donut shop and tries to rob it even though the donut shop is within 7 blocks of a police department. And then the guy behind the counter asks him this, Donut Jerk: “What’s it like being a rocket scientist?” 🤣
Get serious. A donut shop that close to a precinct has to be one of the safest places in America. It might even have double-duty; 1) as a donut shop by day and 2) as a safe house by night.
Who tries holding up a donut shop full of cops?
That is the same way I want you to feel every time you whip out your credit card. Who wants to pay interest on a pair of jeans or table from IKEA for the next 10 years?! Nobody wants that! You must find ways to spend less.
The three biggest expenses for families are: food, transportation and housing. The first trick is to cook more and eat out less.
However, if you can get invited to more dinner invitations, wine tastings, restaurant openings, annual stock meetings, cookouts and other shindigs; well then, you can take doggie bags and stockpile Tupperware with food for days.
Too good for Tupperware and leftovers?
Then please pick a career as a hedge fund manager or petroleum engineer or rocket scientist *cough cough* and start earning $200,000 a year and hire a chef or eat out, as you can afford it.
Need a car to get around? Look for a used $4,000 Ford Focus to pay cash for and then be on your way.
Too good to drive a Ford Focus?
Please reread the top of this article and rethink your priorities.
If you can Airbnb your way to a fortune, good for you. Otherwise, you will need to find a home in a place whose zip code has not been featured as the title of a television show.
That’s right. Does your dream zip code end in 90210? You can’t live there. Why not? When your neighbors are parked cars and moving vans filled with Facebook and Uber engineers, then you may want to really think about where you lay your hat.
If engineers making $175,00-$250,000 a year can’t find affordable housing, then that is a red flag that this neighborhood is probably not for you.
Remember this, if you want to build wealth, find the cheapest and safest place you can to live and save a fortune. Cause you know, it’s all about location, location, location.
Also, no long term house guests that are not paying! Why you ask? Did you ever see that movie Madhouse. Here’s the premise: The luxurious villa of Mark and Jessie Bannister, a yuppie couple, is overrun by loads of uninvited guests who turn the house up side down.
Even if it is a family member or friend, they should pay something.
Even if it is just groceries. Everyone has got to chip in and foot the bill. There is no free lunch or rent! This is my motto: If you can’t pay to stay, then you need to find another place to lay your head cause it’s not going to be on my pillow!
MONEY SAVING MAGIC TRICK #3 THE HAT TRICK: MAX OUT A ROTH IRA
You must invest if you want to one day retire. You do not want to end up a bankruptcy court candidate due to lack of planning and saving.
The easiest way to ensure this is to do the following: 1) Invest enough to get the company match in your 401(k), 2) Then fund a Roth IRA to the Max. And that’s about it.
But wait…there’s one more thing.
You must also invest that money somewhere. You can invest in a 500 index fund with your brokerage.
For example, the S&P 500 index or VFIAX with Vanguard. In addition, if you are looking for total stock market exposure, then you can go for the VTSAX with Vanguard.
Thank you for your time.
After all of that writing and helping the masses, I am exhausted. Please pass me (this non-rocket scientist) a donut.
Let’s all welcome Michael of Financially Alert. Michael is a FIRE (financial independence retire early) blogger. He retired early after accumulating over a cool million from hard work and sacrifice while building a business. Or was it two million? Can’t remember. Doesn’t matter cause he’s here sharing part of his story with us! He graciously accepted my invitation for an interview. Well Michael you have officially been Greenback’d. 🤣
Just some quick background information.
I was introduced to Michael’s blog from a Google search I did for last years FinCon, where media meets money conference.
I was unsure if I should go or what to expect.
His website kept popping up on advice when attending a conference including FinCon. It was so thorough that I decided to do what he said and I reached out to him via email to ask if we could meet at the conference. And to my surprise he said yes!
He was pleasant, laid back, and super down to earth. He was even kind enough to send me an email and asked me to lunch! This is what it’s like meeting Michael. We ended up hanging out for a pretty good chunk of the 2nd day of the conference.
I met so many people that I couldn’t even count! So I introduced Michael to a lot of them. We could barely keep track of so many new faces.
Michael even introduced me to the founder of FinCon, PT Money.
After the conference ended, I took his advice and reached out to people to be on the blog and send invitations. And here we are today.
Let’s go!
MEET MICHAEL AND LEARN HOW TO BECOME FINANCIALLY ALERT
Starting A Financially Alert Money Blog
What prompted you to start a blog about money?
I started my blog as a way to share good money habits and knowledge with those of us who weren’t given the exposure to sound financial principles. Becoming financially alert is less about a number, and more about developing a smart and practical mindset around money. If you have the right money mindset, the mechanics are easy and your money will keep growing. I also want people to realize money is simply a tool. It can be used for good things, and likewise bad things. However, in my experience, those who feel in abundance are more likely to share with others who do not.
Why blog?
I've had people wonder what a blogger REALLY does? What is a petsonal finance blogger? Is that a real thing? Blogging about money.
Yes, sir. It is.
I and many others try to help people with financial literacy.
My blog is LEGIT!!! Put some respeck on my name!!!
“Tonight, darling, we are going to right a lot of wrongs. And we are going to wrong some rights. The first shall be last; the last shall be first; the meek shall do some earth-inheriting." – John Green, Paper Towns #papertowns
Ahh… there are so many. But, in terms of impact, Rich Dad Poor Dad really breaks things down into simple digestible concepts. I love his cash flow quadrant which speaks to the different ways people earn money.
GBM Miriam: I am providing a copy of The Rich Dada Poor Dad Quadrant for inquiring minds!
Let’s break it down.
Once you understand cash flow, you can really begin to grow your money with intention.
3. What are you reading right now? What’s on your night stand?
Dustin thoroughly guides you through the real estate investing process.
GBM Miriam: And I too love to read. I am reading several books about money right now!!!
GBM Miriam: That reminds me of the real estate website Bigger Pockets. I read their book on How to Invest in Real Estate: The Ultimate Beginner’s Guide to Getting Started. And I did a post on it.
I grew up wanting to working the movies as a special effects guy. So, when I sold my business, I took some time to myself to attend a special fx class. It was pretty fun to blow up a car – don’t try that at home kids!
In that interview, I read that you would like to travel to island with the amazing animals, it’s called Galápagos Islands. I’ve always wanted to go since I saw that video about it at the Virginia Aquarium. It looks so cool. And watching stuff blow up is right up my alley! No wonder we got along so well at FinCon18. This was a really good post. Thanks for sharing so much about yourself. I too noticed that PoF was everywhere. I had to step my game up because of him. 😉
And yes ladies and gentleman, that Tony is motivational guru and New York Times best-selling author Tony Robbins! Here is the photo Michael posted on his website. Awesome right?
See Michael’s posts on his Tony Robbins seminars a Date with Destiny and Life and Wealth Mastery
In the second post link, you will get to see Michael swinging from a trapeze in an attempt to face down his fear, which is so Tony Robbins!!!
Fun Fact: Trapeze is a piece of equipment which is used in acrobatics. It is considered to be one of the most demanding aerial arts. History. The art of trapeze performance was developed by Jules Léotard, a young French acrobat and aerialist, in Toulouse in the mid-1800s. He invented the flying trapeze, practising over his father’s swimming pool. A trapeze is a short horizontal bar hung by ropes or metal straps from a support. It can also be known as a aerial hoop, or fabric known as an aerial silk.
And Michael is still inspired by Tony Robbins all these years later. Check out one of his recent tweets 🙏😉
5. What’s in your wallet? How did you start building wealth?
$83 cash
4 credit cards
1 debit card
fishing license
insurance card
coupon for bare naked granola
drivers license
AA card
FINALRT Michael: I started building wealth the old fashioned way… saving! As soon as I got my first job, I started paying myself 20% automatically into my savings account. Over time it grew, and then evolved to other asset classes like stocks/bonds, and real estate.
GBM Miriam: That’s what I’m taking about!!! Take control over your finances. Control your finances, control your life. 👍
The lazy way to build a fortune: automate your savings and investments.
You can build great things when you work on things over time. Just like Voltron. 🤣I just love when things come together. Don’t you?
This is how I approached spending before I started learning about finances🤦♀️ 😂
I personally like focusing on starting salary. Negotiating a good starting salary can set you up to be even better down the line. Kind of reminds me of that scene in Clueless 🤔 starring Alicia Silverstone and Avengers Endgame Ant-man Paul Rudd.
Financial makeover. Who here wouldn’t do things differently if they knew then what they know now?
It’s like Cher (the real one not the one from the movie Clueless) said, “If I could turn back time.”
Speaking of Clueless…
I love makeovers!!!! So I wrote a post about having a financial facelift. 😉
Whatever you do, financially or otherwise…Own it!!!
I made it out of living paycheck-to-paycheck woohoo!!! I appreciate all the support from the personal finance blogger community. 💖Especially in doing interviews like this one. 😉 xoxo 💋 I feel the love. I felt just like Mulan. The finance community definitely made a man I mean blogger out of me. 🤣
Bonus Questions (pick any of the questions from the top or below that you want to answer)
6. Any life or money lessons from a favorite movie or TV show you would like to share?
TV loves to glamorize our consumer culture. While it’s fun to watch shows like Million Dollar Listing, the reality is that happiness is controlled by us individually and doesn’t required luxury items.
How can you use your money to make the biggest positive impact on your family and friends?
Well said Michael. 👏 And excellent question.
Embarrassment of riches book portrait of Scrooge McDuck and his nephews.
GBM Miriam: I have learned to not focus on having privilege, but on doing things that help myself, my family and my community. A lesson Cher (Alicia Silverstone) started to learn as the film Clueless progressed.
While shopping with her friend Dionne (Stacey Dash), she started feeling like there was more to life than shopping, like helping others. 😉
7. If you found a lottery ticket that ends up winning $2.5 million. What would you do?
After giving a chunk to charity, I’d buy a McDonald’s franchise! Who wouldn’t want a french fry cash machine??
16. What was your best MacGyver moment?
I recently was doing a video and couldn’t ad-lib the content to save my life. So, I started researching ways to help me create a better video. I stumbled upon teleprompters and was like, OMG that’s it!The problem though is that teleprompters start at $200 and go up from there. I didn’t feel like making that kind of investment for a single video, so I put on my MacGyver hat and built my own. I used an 8×10 frame from Walmart, a cheap 3 ring binder, some cork-board from Dollar Tree, and electric tape from Home Depot… total costs to build it – $12.84.
For those of you who are unfamiliar with MacGyver, here is some background info.
Angus “Mac” MacGyver is the title character and the protagonist in the TV series MacGyver. He is played by Richard Dean Anderson in the 1985 original series. Lucas Till portrays a younger version of MacGyver in the 2016 reboot. In both portrayals MacGyver is shown to possess a genius-level intellect; proficiency in multiple languages; superb engineering skills; excellent knowledge of applied physics; military training in bomb disposal techniques and a preference for non-lethal resolutions to conflicts. The hit television series MacGyver, which lasted from 1985 to 1992 and was highly successful throughout its seven-year run.
The character Angus MacGyver, also known as just MacGyver or Mac, was an optimistic action hero who was notable for using a Swiss Army knife instead of a firearm as his tool of choice.Young war hero Angus `Mac’ MacGyver has an extraordinary knack for unconventional problem solving and an extensive bank of scientific knowledge that he believes can best be put to use saving lives, both of which come in handy when he creates a clandestine organization within the United States government to tackle high-risk missions around the world. Working under the sponsorship of the Department of External Affairs, MacGyver quietly prevents disasters.
The character is portrayed as a non-violent problem solver and typically eschews the use of guns. Even in cases where he must resort to physical violence, or when his improvised devices are used to attack hostile opponents, he is always doing so in self-defense and, if possible, subduing or disabling rather than killing.
MacGyver is passionate about social causes, having on several occasions volunteered to help the less-privileged, showing a particular affinity for – and connection with – children. For example, he is shown to be a “big brother”, conducts hearing research at a school for deaf children, and helps out in a mountain excursion for delinquent youths.He strives to protect the environment and endangered species such as eagles, the black rhino,and wolves It was also established that he became a vegetarian at an unspecified date during the series run.
MacGyver’s persistence and the improvisational nature of his plans make him difficult to thwart, as his nemesis Murdoc pointed out, because not even MacGyver himself knows what he is going to do next. Unlike stereotypical “macho” or stoic action heroes, MacGyver exhibits grief in the face of tragedies, open fear in perilous situations, and shows pain after a fight. A sensitive character, Mac has a tendency to blame himself for personal losses and tragedies. He usually carries duct tape, chewing gum, a Timex watch, strike-anywhere matches, a flashlight, and an ID card. Yes, that’s what he uses to get out of every near death situation.
In short, he’s awesome.
17. How would you sell hot coco in Florida?
I’d add some ice and throw it in my vitamix for the perfect blended frozen hot coco!
Oh yea. As cool as ice!! 🤣
Thank you for stopping by Greenbacks Magnet!!!!
Hope you enjoyed this latest blogger interview. I try to keep it 💯here and help people improve the quality of their financial lives. Thank you for reading.
GBM Miriam: Thank you Michael for treating us all for an inside look to becoming financially alert. You’ve been a great guest!
Want more financial wake up calls from Michael. Follow him on Twitter and read his blog at Financially Alert.
Til Debt Do Us Part is a Canadian television series that follows couples that are going through financial crisis and financial expert, Gail Vaz-Oxlade, comes in to help the couple find solutions.
The series ran for over 100 episodes from 2005-2011. It also had a spin-off called Princess. She teaches couples to go from red to black and gain control over their money.
The show would air right after the Suze Orman show during its run on CNBC. Read my post Dom Perignon Taste on a Budweiser Budget to see how it all went down on Suze’s show.
#1 REASON COUPLES BREAK UP
Money is the number #1 reason couples break up. She visits couples weekly and gives them challenges to help with their finances. Then at the end of each episode, after about 4 weeks, she awards the couple with up to $5,000 dollars to help them get out of debt.
CUT THE CHEQUE
By far the best part of the show, in my opinion, is when at the end of one month, Gail Vaz-Oxlade gives the couple a cheque for an amount up to $5,000, depending on their attitudes and how well they did during the challenges. Keep in mind, couples could get less and some have. One of the lowest amounts I have seen her give was $3,000, which is a 40% reduction of the prize money.
The show was so popular that a 52-Week Life Planner was released based on the television series and offers day-by-day, step-by-step strategies and tips for successfully managing household finances.
This reminds me of a Tom Holland interview he did for Spiderman talking about how Anthony Mackie always says, “cut the check.”
If you have never heard of the show Til Debt or can’t remember it, no worries, I will take you back down memory lane tonight.
WHO IS GAIL VAZ-OXLADE?
“We feel good when our homes are bright and shiny, put a little elbow grease into your money and it’ll glisten too.” – Gail Vaz-Oxlade
Gail Vaz-Oxlade is a financial writer and was a columnist for numerous publications as a freelancer including Yahoo! Canada Finance. She has helped people from high finance to low-income solve their money problems. Eventually, she became a television personality due to all of her work in finance and that is how the show Til Debt came into existence with her as the host.
She has written numerous books on the topic of finance. I have actually read one of her books called Debt-Free Forever.
Gail has a no-nonsense attitude when it comes to money. And that is what makes her so good at what she does.
FOR THE LOVE OF JARS
“You can have everything you want. All you need is a plan. And how do we spell plan? B-U-D-G-E-T!” – Gail Vaz-Oxlade
Watching the show was very interesting. One recurring theme was the jars. Gail advocated for couples to live on cash.
Every single episode, you got cash jars. You would put in a certain dollar amount. When you spend, you write it down in the budget binder cause cash slips through our fingers easier than that snail did with Julia Roberts in Pretty Woman.
Some couples were taking out cash at the ATM from their bank accounts or doing cash advances, which Gail said she could not track so we don’t know where the money went. When it’s gone, it’s gone. Without writing it down or keeping receipts, there is no other way to track cash. So, jars it is.
MONEY LESSONS FOR GAIL
Gai loves cash and hates banks. She thinks they are bleeding people dry slowly with their interest and fees. Gail says banks are wolves in sheep’s clothing. The only way this will change is to teach financial literacy in school. I say start in elementary when they are old enough to start asking for a $1 lollipop, it’s time to start the finance lessons.
This is the secret recipe to building wealth: You need to make more money and you need to spend less money.
Here are 3 lessons that Gail taught me: (1) both partners need to manage the money, (2) no retail therapy, and (3) debt repayment takes time.
LESSON ONE: GAIL ON COUPLES MANAGING MONEY
Do not have only one partner manage the finances.
“It’s not unusual for one person to assume the nitty-gritty of daily finances…. The problem is that when one person is excluded, or totally abdicates responsibility, it means the other can mess things up with no monitoring or grow resentful at always having to do the detail…. Taking turns managing the chequebook, and having regular conversations so that both of you are clear about what’s going on, means you’re both in the know and working to the same ends. It also means that one person doesn’t have to deal with all the crap, while the other merrily laughs off the stress and frustration with, ‘You’re managing the money, so this is your problem to deal with.’ (Yes, there are dopes who say this.)”
Always know what is happening with your money. I don’t care who signs the check and put it in the envelope. Just make sure you lick the stamp. Be involved. Ask questions. Don’t be in the dark.
It’s kind of like that scene in Charmed in the episode Be Careful What You Witch For. Remember that scene in the beginning, after the opening credits. I want you to be skeptical like Phoebe. Always know who you owe and how much. Nothing is for free.
The conversation went like this:
Phoebe: I don’t get it you’ve been stuck in that bottle for two hundred years then someone finally sends you to us and you’ve no idea who licked the stamp? I find that very hard to believe.
Genie:What? I don’t get it you win the lotto and you’re asking for explanations?
Piper:Actually we’d like to know who to send the thank you note to.
“Plastic is anesthetic — it dulls the pain, and then what happens is you just keep waiting for the next fake high.”
And don’t I know it. I had a huge shopping problem for years. It was done as a way to dull the pain of the things going on around me – low-income, working full-time, going to college – I was a mess!
I had some pretty terrible managers when I was younger too. All the stress was getting to me. I had to find a way to cope, but shopping was not it. As I got more mature, I found ways to de-stress that were cheaper or free.
I have said it before that credit is seductive and addictive. It should not be used to replace your emergency fund (liquid cash). However, if you do, be strategic and use credit wisely and sparingly.
“A goal without a deadline is just a dream.” – Gail Vaz-Oxlade
Slow and steady is the way to repay debt.
“One step at a time. You are on your way. Expect challenges. Keep your goal where you can see it.”
You better believe it. If it took you 8 years to accumulate the debt, thinking you can pay it off in 3 months is delusional. See my post Getting out of debt one step at a time.
The good news is that once you recognize you have a problem with debt, then you can work on solutions. I have noticed that generally 2-3 years of cutting back and attacking debt is usually enough time to pay off most if not all of your consumer debt except the mortgage and student loans. After 5-7 years, the only debt left is usually the mortgage. That is a small price to pay for freedom.
Money can’t buy you love. But keeping love alive without money can be pretty tough. In fact, ninety percent of marriage breakups are due to money problems. And to get advice on how to manage money usually costs money! Til Debt Do Us Part, is a series that offers tough-love solutions to those willing to face their financial troubles head on. In each episode we meet a couple in crisis. Some are on the verge of bankruptcy, hounded by creditors or facing eviction. Others are just getting by, but in the midst of a personal meltdown or relationship breakdown because of money issues. With the sensitivity of a therapist and the toughness of a CFO, our host, renowned financial author and columnist, Gail Vaz-Oxlade reveals what she’s found in a couple’s finances – and then she’ll dig a little deeper. She asks some tough questions and then they’ll be forced to face reality. Where will it end if they continue on this rocky road? To get things back on track, Gail takes control of their finances …
This show was very eye-opening in how people managed their finances. Many did not have a clue what was coming in and going out. Gail would come in with her screen shots of the couples bank accounts and spending and give it to them straight.
Many times the wives would burst out in tears after seeing how much debt the family was actually in. Lots of couples were in over their heads. Some so deep in debt they had to consider selling their house, or worse, bankruptcy!
Some couples did not want to make any changes. Even though they were debt up to their eyeballs. These people needed to get their priorities straight. Much like Hermione, in Harry Potter.
Here is the show’s Intro and theme song along with a promo. This is just a taste, a light sampling, of what you are in store for with this show.
There are 2 episodes that stand out for me. They were called The Worst Family Ever and Love Affair with Luxury.
MONEY WORRIES CAN CAUSE SLEEPLESS NIGHTS
In the S03E13 entitled, “The worst family ever?” One couple were living in the wife’s family basement for about a couple of years. They spent with reckless abandon. Oh, the couple popped bottles night and day. Especially, after moving out and buying their own home for about $225,000. That’s not bad. What is bad is that they saved zero dollars while sponging off her parents.
Then, to make matters worse, they threw non-stop parties at their house for friends and family. This was obviously all to make themselves look good to friends and family. In Yoda speak, so concerned with appearances they are.
“Happy people don’t worry about what other people think about them.” – Gail Vaz-Oxlade
OUT OF CONTROL SHOPPING FOR BABY BUT THE KIDS ARE ALRIGHT
In addition, they expanded their family and had a son, but financially were unprepared for this. At one point, the wife was spending $1200 a month outfitting junior! I couldn’t believe it. What is she buying Versace onesies? Get real. A baby doesn’t care. They just want to be warm, feed, and dry.
This couple were overspending by the tune of $4,100 a month! Holy spending gone bonkers, Batman!
Fun Fact: For those of you unfamiliar with that Batman line, here is where it comes from. The Batman television series from the 1960’s. Batman was American live action television series, based on the DC comic book. It starred Adam West as the titular character and hero Batman and Burt Ward as his sidekick Robin.
It was also turned into a cartoon series. Here is Robin at his finest with his sayings. Hilarious!
I decided to post it so you won’t ever have to get the tongue lashing that Penny got from Sheldon on an episode of The Big Bang Theory about Batman at 2:48 into the video.
It was about The Lord of the Rings. Even Raj used a Holy Robin saying in there!
In this next video, Sheldon gives a fun fact to Raj. Now, you know where I get it from.
Now, back to the story.
The way the couple on the show were able to overspend like that, drumroll please…the credit cards!
When Gail comes along they are so bad she tells them they have to sell the house. They flat out said they could not sell the house. Even though they are on the path to $1.3 million in debt and possible bankruptcy! Gail, at one point in the show, tells them they are the worst couple she has had on the show and that she had a few sleepless nights worrying about how to help them out of this situation. Coming from Gail, that’s scary.
The way it went down, it reminded me of that scene in The Chipmunk Adventure, when Jeanette and Eleanor was telling the Arabian prince that Brittany spends money like a drunken sailor and Brittany got mad. Hilarious. I just so happened to find the footage of that particular scene and the movie on YouTube. Hope you have fun watching! No need to thank me. Like Dean Winchester says, “You’re Welcome.”
SHOULD YOU FINANCE A $100,000 CAR?
“Change brings challenges, learning, and a sense of New. Change is full of promise.”- Gail Vaz-Oxlade
In the S04E03 entitled, “Love Affair with Luxury,” which aired March 6, 2008, is the gold standard of delusions of grandeur when it comes to money management. The wife, Simone, is a champion shopper and a spendthrift who manages to make 53 shopping trips in a single month! That’s nuts. Even though she’s on maternity leave, a luxury car is next on her shopping list.
The only reason the couple is able to afford such luxuries is because they have each other’s incomes. The minute one person’s income is gone or reduced, i.e. disability or divorce, the whole house of cards comes tumbling down faster than the stock market has in the last 30 days.
Frank and Simone’s combined $110,000 annual income is currently curbed by Simone being on maternity leave. Simone is addicted to what she believes she needs to keep up appearances in every respect, which includes working out at the gym, and spending money on “stuff” for herself, such as clothes, getting beauty treatments of various kinds, and having a beautifully appointed house. A $125,000 new car is next on the list. Simone, however, states that she would never do anything that would place her family at risk. But Frank doesn’t realize he is just as guilty, spending money on his electronics, which includes six large television sets in their house of four people, including one infant. This spending has resulted in $55,000 in consumer debt so far. They constantly fight about money, something having to give if their marriage can overcome this issue. As such, Gail issues them challenges largely focusing on dealing with their root problem, namely their addiction to luxury, this focus which not only entails them doing the challenges, but understanding why she has issued these challenges.
At one point in the show she says, “we can finance $100,000 can’t we.” For a car no less! If you have ever read this blog, you know I can’t stand cars for the simple reason that they can keep you in debt forever. You could spend a couple hundred grand on cars in a lifetime. You know how much interest you could earn on $200,000! Here are just a few on my posts on my beef with car loans below.
Money is a tool we use in the present to create the reality we want in the future. Learning about finance is a good start. Practicing good money habits and teaching your kids to understand the concepts of money – budgeting, saving, and spending – you help create their reality.
So, I want to always stay in control of your…I will now end this post in the last words of the Til Debt Do Us Part theme song, money, money, money, money, money, money, moneyyyy!
If you read my FinCon18 recap, you know I went to Universal Studios during the conference.
I had to recharge my batteries. I was just so exhausted. I needed some me time.
Therefore, I purchased tickets online to go to Universal Island of Adventure and Universal Studios: Halloween Horror Nights 2018 or #HHN28.
Buying the tickets online is a good idea for Halloween Nights as they offer a discount online.
I got one ticket to go to either park for 1 day for $115. And For Halloween Nights, I got a Flex ticket for $81.99, which allowed me to go any night Sunday – Friday.
This ended up being a good idea because I was unable to go on a specific night (as you can buy a specific date ticket for cheaper $50-60).
I had an absolute ball. It was so much fun. This is the most fun I have ever had at a theme park.
Every hour something new would happen. I walked in circles around the park all night long. I had to finally force myself to leave because it was after midnight.
This is how I was able to do everything I want at Universal on a budget and have a blast!
UNIVERSAL HERE I COME
First, I decided to wait until noon to go. I saw no reason to get there when the park opens because I knew I did not want to be there all day in the heat walking around.
After, I got dropped off by the Resort taxi, I went straight through CityWalk and when to the gate. I printed out my paper ticket, but was told I would need to get a park ticket because it was a digital ticket I had and needed to be on a device (cell phone).
I waited in line at customer service, which was oh so slow.
Finally, I got my turn and had to show photo ID. I then received both of my tickets to each park and was able to get into the park.
Park tip 1: To avoid this aggravation, simply download the ticket to your phone.
OFF TO SEE ISLAND OF ADVENTURE
I got park maps of both the Adventure Park and Halloween Nights and mapped out a plan.
I would do this park for 6 hours from noon until about 630 pm when Halloween Nights started.
At that time, I would do the other park for Halloween for about 4-5 hours as it did not close until 2 am!
First, I got on the Incredible Hulk Coaster. It was so much fun. I had to use my ticket to open the locker for the ride.
Please note, you need to have pockets or a ticket holder to keep your ticket with you while on this ride because you need it to re-open the locker.
I was also able to go in the single rider lines. Since, no one wanted to ride single these were the shortest lines. Therefore, I was able to get on every ride in both parks within 5-20 minutes!!!
Park tip 1: Go in the single rider lines. They are faster and anyone can use them. You can still end up riding with all or most of your party on the ride, but without the long wait in line.
MARVEL ISLAND
Then I walked over to Marvel Super Hero Island and got on the Spiderman 3-D ride.
While in line, I saw lots of people with lanyards and clear ticket holders around their necks.
I asked two gentlemen standing in line where they got it from. They said the front of the park, but I could buy one at stores around the park for about $10-12 bucks.
The first thing I did when I got off the ride was buy a lanyard. It cost me $10.65.
Park tip 1: Get the lanyard. You can tuck it inside your shirt while you ride. The holder keeps your tickets safe and dry from water rides.
Park tip 2: Put a credit card inside the ticket holder with your park ticket and then you can pay for food and locker rental without needing to carry your bag around the park.
Park tip 3: I asked if there was a place close by to get water and was informed that every place that offers food and drink provide free ice water. Including all the food stands or carts. Drink it! I asked like every hour for cold water.
Park tip 4: I also asked what the gentlemen were asking for when asking patrons if they could speak to them. She said it was a timeshare. They say it will be a 90 minute tour, but it turns into four hours. Stay away from these folks! It’s a high pressure sales pitch. Don’t fall for it.
On a side note: I did this before and they try to pressure you to buy all day. They ask for personal information. Don’t give it to them. They especially want your credit card or bank account number. Don’t do it!
I decided on a whim to sign up, but then looked these people up online before the tour. By sheer happenstance, I clicked on the reviews. They were horrible. So, I did what any sensible person would do. I backed out.
I called the salesperson 2 hours before my scheduled tour and said something came up. The conversation went something like this:
ME:Hello. Good morning. Something has come up and I am not able to make the tour. I’m checking out my hotel and flying home ASAP. So, you can cancel the tour. Hope you have a good day.
SALESPERSON: (sad voice) No problem…they continue to talk, but I hang up.
I then immediately blocked that number and anyone that called from that out of state area code.
My gut instinct was that they would try to contact me and I had someone call me 3 times at the time I was supposed to be picked up for the tour.
Nope. I blew them off.
I kept the conversation short (per my phone it lasted 20 seconds) and controlled the entire situation.
Do I feel bad? Absolutely not. I followed phone etiquette. If you say goodbye, have a nice day or I’m hanging up now, it’s not hanging up on anyone, right?
My motto is sometimes you just have to be aggressive. Be, be aggressive. But I digress. Let’s get back to the fun.
JURASSIC PARK
I went on my third ride: Jurassic Park River Adventure. It was not scary at all and the park is definitely family friendly as many of the rides were not thriller roller coasters, but still fun.
Then after, this ride I was tired. I took a break and got a grilled chicken salad from Captain America Diner. It cost $11.50.
Park tip 1: Take breaks after 2 or 3 rides. The sun and all the walking really wear you out.
Park tip 2: Wait at least an hour to an hour and a half to start riding again to give your food a chance to digest and body a chance to rest and recover from all the movement of the day.
The Wizarding World of Harry Potter – Hogsmeade
Next, I got on the Harry Potter ride. You can keep your stuff in the lockers they provide. You will need to place your index finger on the pad until it says remove finger and verified. Then you will be assigned a locker number.
Park tip 1: Some lockers ask you to create a six digit passcode for you to re-open your locker. Keep it simple so you remember.
This ride is decent. Great visuals. Lots of jerky movements.
The Lost Continent
I went to Poseidon’s Fury. Waited in line for a while as they grouped all riders together. The ride was okay. Again, great visuals here and atmosphere.
After riding all the roller coasters I wanted, I decided to do the water rides.
Park tip 1: I suggest you do the water rides last. The other park does not have any. And the Volcano Bay park where it is nothing but water, think inner tubes and lazy river (no rides), you have to be bused to. No thanks.
Park tip 2: If you want to get wet, either do it during the day when the suns out or bring a change of clothes. And I mean a whole change of clothes including socks and undergarments as you are going to get soaked.
Park tip 3: Bring sandals to wear on water rides. I put my sneakers in the locker and did all the water rides in sandals so I wouldn’t have to walk around the park in wet sneakers!
Toon Lagoon
The last stop in this park for me.
I got on Dudley Do-Right’s Ripshaw Falls. You get pretty wet here. My pants were soaked but my hair and shirt were not too terrible. I even found a partner to ride with here.
Next up, Popeye & Bluto’s Bilge Rat Barges. YOU GET WET. Absolutely soaked, from head to toe. They have waterfalls that just drench you. And oh yea, dryers cost $5 a cycle!
I had a blast, but it’s time to get to the real action. Halloween Nights!! Yea baby!!!
Universal Studios Florida
PARK HOURS: Universal Studios Florida: 9am – 9pm Islands of Adventure: 9am – 9pm Volcano Bay: 9am – 9pm CityWalk: Open until 2am every day
This is where the action is. Huge crowds have formed outside the park and everyone is buzzing to get inside. I walked over from Island Adventure in my wet clothes so I could take care of everything all at once while inside the park.
Once inside, I immediately make my way into the ladies and change clothes. Feeling refreshed. I go over to a locker at the front of the park, by the entrance and pay $10 for all day and unlimited access.
I also brought a thin strapped bag to wear over my clothes like a cross body that was similar to a fanny pack to walk the park hands-free. I was able put my cell phone, lip gloss, and any receipts into it.
Since, I kept my cell phone on me in this park, I texted myself the locker number that I stored all my stuff in at the front of the park to make sure I wouldn’t forget. (small productivity hack there)
Park tip 1: They will let you ride with the fanny pack as long as it’s around your waist for all the rides I went on except Harry Potter. Just FYI.
Then I was on my way. I was off to the next ride.
NEW YORK
I rode the Revenge of the Mummy. It was pretty cool. It also had a surprise drop and was super creepy inside the dark caves. It was awesome!
Park tip 1: I played no games because I did not want to carry any prizes or spend unnecessary money on souvenirs. I just kept my park maps as one.
Park tip 2: Like with the other park, I zipped inside shops and cafes. I was in and out because if you stay too long, you will spend money.
San Francisco
I got on the Fast and the Furious. Prepare to wait for this one. It gives a long tour. However, the ride makes you feel like you’re a part of the action in the movie. So it’s not too bad.
The Wizarding World of Harry Potter – Diagon Alley.
This place is straight out of Hogwarts. It is really cool. I zoomed in and out of shops because again you will spend. That quiddich outfit or wizard uniform is pricey. The school uniform tie costs $30 bucks!
As I said above, you must put all items in a locker.
Then off you go. The ride is pretty cool. After every ride, it just so happens to exit into a shop of the character attraction you just got threw riding. A coincidence? I think not. Nope, I don’t need a wand to sit in my closet at home. I’m good.
World Expo
Men in Black (MIB) Alien attack. This is pretty fun. You shoot aliens. Just shoot everything!
Now, it’s gotten dark. All of the sudden chainsaw sounds are going off and people are in monster make-up and costumes. Zombies jump out at you and you get chased by people out of dark alleys. Let the fun begin!
I am also hungry. I go to Richter’s in San Francisco and get a grilled chicken sandwich for; you guessed it, another $11.50 like my lunch salad. And a small sundae from Ben & Jerry’s for $8 dollars! I bought no drink as water was free everywhere.
I walk around and take my customary break of at least one hour before riding.
At this point, the park is in full swing. The Killer Clowns from Outer Space are walking around, people are on stilts in full costume, and lighted jack-o-lanterns are hanging from the trees.
A life size Chucky from the movie Child’s Play box is in the middle of the street and inside is Chucky! He is talking to the crowd. It was one of the most bizarre things to see, but it sure was cool. He drew the largest crowd.
Every hour the park gets wilder, crazier, more fun, and crowded. It was sheer pleasure.
Sights and sounds were everywhere. In every corner, there was something going on. I just kept walking in circles to see what would happen next. They just kept adding characters and shows.
An impromptu performance on the front stage started right before midnight of dancers doing the choreography in Michael Jackson’s thriller while the song played.
I took a short video of the performance. In this short clip, you could feel the energy of the park. It was crackling. It was electric. It was live. People were laughing, joking, dancing in the streets and just having a good time.
Imagine being in this energy for 6 hours like I was. It was the most fun I have ever had at a theme park hands down. Universal does Halloween big!!
I also got my face painted. So much fun. People kept walking up to me asking for help. They thought I worked there! But I guess when you’re wearing all black and costume makeup that can happen.
LAST RIDE OF THE NIGHT: TRANSFORMERS 3-D
This was another short line and the singles line was super short.
Park tip 1: Do not waste your money on a fast pass. You can get on most rides within 20 minutes.
Park tip 2: Pay attention to the monitors throughout the park. They tell you the wait times of rides.
Transformers were my favorite ride at the park. So, I guess I saved the best for last. It was like being in the movie with them. It was just so much fun and so cool.
Do not pass this ride up as I almost did. I thought it was going to be kind of slow like the other 3-D rides, but I was wrong. This ride was more than meets the eye!
THE END OF THE NIGHT. MIDNIGHT.
I walk over to the lockers and get my stuff out. I head over to voodoo donut, but the line is wrapped around the corner so I leave and catch a cab back to the resort.
Park tip 1: There is a pick up and drop off area at the park. This includes cabs, Uber, and Lfyt. Cabs are also available all day at the park like an airport.
I get back to the hotel by about 1 am. I am fully recharged. I head up for bed. As I headed into my last day of FinCon, I felt like Rory Gilmore in the season 5 episode of Gilmore Girls, You Jump, I jump Jack, in ominous paratus, that’s Latin for “ready for all things.”
Well, that is the end of my Universal Studios adventure. Hope you had fun and thanks for coming along for the ride (pun intended).
“What’s keeping you from being rich? In most cases, it’s simply a lack of belief. In order to become rich, you must believe you can do it, and you must take the actions necessary to achieve your goal.” —Suze Orman
Sure, there are lots of ways to get rich, but they all fall into one of these six categories as there are only six ways to actually get rich.
The six ways to get rich are:
Capitalize on a unique skill or talent.
Marry rich.
Inherit money.
Own a business.
Take calculated risks and get lucky.
Spend less than you earn and invest wisely.
Let’s explore each category.
CAPITALIZE ON TALENT
Don’t make money your goal. Instead, pursue the things you love doing and then do them so well that people can’t take their eyes off of you.” ― Maya Angelou.
Become an expert in one area or niche and exploit it. Dominate that field. And never stop growing.
If you read my post on Beyoncé, you will notice that she started young, developed her craft, and expanded her expertise. She not only sings, but dances, endorses products, started businesses, and writes songs. She owns what she does. Everything from trademarks – Blue Ivy and Ivy Park – to owning a music streaming service. Put it simply, she dominates in her field.
If you want to be the next J.K. Rowling or Stephen King, then you just have to start writing. J.K. Rowling famously said she was rejected at least 12 times before anyone would publish Harry Potter. Persistence and determination are vitally important if you want to succeed. And just FYI, it took her 7 years to write Harry Potter.
MARRY RICH
“Don’t you know that a man being rich is like a girl being pretty? You wouldn’t marry a girl just because she’s pretty, but my goodness, doesn’t it help?”
―Marilyn Monroe as Lorelei Lee in Gentlemen Prefer Blondes (1953)
Dating is all about introductions and proximity. It doesn’t matter if you swipe right on Tinder or meet at your family’s country club, you just have to get some face time. You can’t date who you can’t see or touch.
In my experience, men date and marry women who are in their vicinity or social circle. Therefore, if you are looking for a rich man, then you have to be where they are i.e., charity events, sports games, auction houses, doctoral seminars, or the like.
In addition, if you know where wealthy men tend to reside, then hey you can pack up and find a job there and frequent their haunts. Location, location, location baby.
People also tend to look for partners that are successful in their own right. You don’t necessarily have to be rich, but having some sort of talent or career outside of just being a wealthy mate’s plus one bodes well for you and your prospects of landing and keeping a partner. So, invest in yourself – get educated, cultured, learn opera, play piano, paint or learn another language – either way you have a skill.
Above all else, respect yourself. Have your own life, career, friends, family, and money. No one wants a loner that can barely make rent, they want someone who is open to people, new experiences, and can pick up the check.
Don’t agree. Well, how’s this for food for thought; Chrissy Teigen once responded to a mean tweet by telling someone she does not just spend someone else’s money, but in two words replied: “my money.” She also went on to note her Forbes ranking and that she is a best-selling cookbook author. She basically told people to chew on that – no pun intended. A very nice retort on her part and her equivalent of put that in your pipe and smoke it.
You have to admit it sure sounds better when you can list your own accomplishments. Respect for self is attractive and shows confidence. And confidence is key.
INHERIT MONEY
I would rather make my name than inherit it. – William Makepeace Thackeray
Studies into the wealth of households have shown that most wealth today is now earned than inherited. In my experience, people truly appreciate and cherish that which they work and sweat for.
For example, when I was given gifts of money or other items I am usually losing or unable to tell you whom gave me the gift. The car in my driveway that I worked so hard for is still there 15 years later.
There are those that inherit their fortunes, but the saying goes that a fool and his money are soon parted. I suggest you get a career, get educated, and learn a craft to earn your own living. If you do inherit, then you can manage your money instead of squandering it.
OWN A BUSINESS
Only I can change my life. No one can do it for me. – Carol Burnett
Starting a business is what two-thirds of millionaires do. This lets you know that if you are successful and become rich, then most likely you will or do own a business at some point in your life.
I suggest determining what you are good at and then turning that into a business. Passion is great, but just because you are passionate about golf and want to be a pro golfer does not mean that is what you are good at or meant to do.
Also study up and get a mentor or work with people in the field you want to be in. Read books, attend seminars and save money. All businesses need capitol. If you can find a business to start with a low barrier to entry such as a food truck or blogging, then the better.
BIG RISKS FOR BIG REWARDS
“If you want big rewards, you gotta take big risks.” Jessica Biel as Tenley Parrish in Summer Catch (2001)
If you read my post, wealth comes from doing not luck, then you understand that from preparedness comes opportunity and hard work creates luck and success.
It is okay to take risks, but I prefer calculated ones. The ones where you do your research, study your results, learn from you’re mistakes or the ones of others and keep moving forward. Make that pro con list, watch videos, attend conferences or better yet, speak to those that have done or are doing what you long to do. If you’re going to risk it all, then best to know all the facts first.
SPEND LESS, SAVE AND INVEST OVER TIME
The formula for getting rich is this: spend < money earned
Simply put, spend less than you earn.
If you can do that, you have got a shot at getting rich.
For example, you can be a millionaire over time if you do the following:
Save $6,000 a month for 10 years getting a 6% return
Save $2,200 a month for 20 years getting a 6% return
Save $800 a month for 25 years getting an 8% return
Save $600 a month for 30 years getting an 8% return
Save $500 a month for 40 years getting a 6% return
The combinations can vary based on the amount of savings invested and the return on investment of compound interest. However, the bottom line is saving can earn you a fortune.
For those concerned with inflation, here is an inflation-adjusted. 25-year wealth accumulation chart.
Source: www.businessinsider.com
THE BOTTOM LINE
Ultimately, no matter what path you take if you partake in spending less than you earn and investing, over time you will become rich eventually.
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