Archives For Personal Finance Education

The Dynamic Debt Destroyer – 230 DSR

June 10, 2017

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You can’t borrower your way out of debt. There’s only one way to get rid of it. Pay it off.

1) What where do I start?
Stop borrowing money. Send your Visa & Master Card divorce papers.

2) Which debt should I pay off first?
Smallest balance first, regardless of interest rate. Pre-paying neutralizes compounding interest on revolving debts.

Take min mo pmt, add 10% of your net pay. Divide that number into the balance of the debt. Divide that by 12. That’s how many months until you pay the debt off.

Example: $1,000 balance. $20 min pmt = 50 mo or 4 yrs to payoff. That doesn’t account for revolving interest, which takes longer.

$20 min mo pmt plus $60 extra. $1,000 balance divided by $80 = 12.5 mos to payoff or 1.5 yrs.

3) What about interest rates?
They’re nothing but rent payments. Interest paid is rent for the use of someone else’s money. They borrower it at, say .50% and they’re lending it to you at 4.5% for house, up to 29% on credit cards. Who’s getting the best deal in that equation?

Closing:
Borrowing money is fast and convenient. Ask why are you doing it your entire life? When does it stop?

Resource:
Piece of paper, something to write with, and calculator.

Get in touch. Podcast page. email or voicemail button.
Coaching is available.

I’m Greg Whitaker reminding you:
Get Your Mind Straight. Get Your Money Straight

Debt Shepherd 2017, All Rights Reserved

In Money, Motivation, Personal Finance Education , ,
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What is Banking? – 228 DSR

May 21, 2017

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The creation, sale, and distribution of human energy. Monopoly – created by law and is enforced by law.

For purposes of this discussion, the words money and human energy are one in the same.

1) The Creation of Human Energy – Congress borrowers money from The Federal Reserve. They make principle/interest payments. The paper money you hold is the IOU or Congress’ promise to The Fed to pay back the debt. How does The Fed ‘make” the money? An entry into a computer.

2) The Sale of Human Energy – The Federal Reserve decides the price (or interest rate) of money. They lend it to banks at an interest rate. The bank lends it to you at a higher rate and makes profit. Why don’t you have access to money closer to the point of creation and therefore a cheaper rate of interest? Because of the law.

3) The Distribution of Human Energy – The Fed makes it, the bank borrowers it. The bank lends it to you after they decide if you’re worthy of being lent to. Loan application, SSN, credit scores, collateral, assets, etc. They either say yes or no.

Look at back of your Closing Disclosure. $100k loan, total paid over life of loan if min pmts made. Expressed as a dollar amount and percentage. This is only in the last 12 months. The old TIL only showed the total dollar amount.

Closing: If you’re the only one who creates, sells, and distributes human energy is it possible you’d develop a God complex somewhere along the way? Why? You control the population. This control is global.

Resource:
Why It’s Called a Bank – podcast
The Creature From Jekyll Island – book

Get in touch. Podcast page. email or voicemail button.

I’m Greg Whitaker reminding you:

Get Your Mind Straight. Get Your Money Straight
Debt Shepherd 2017, All Rights Reserved

In Education, Government, Money, Personal Finance Education, The Basics, The Economy , ,
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Tyranny Thru Complexity – 226 DSR

April 8, 2017

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The more complicated you make your finances, the more the tyranny of their complexity can rule your life.

1) What you see vs what you think.

If it’s a mess on the outside, it’s a mess on the inside. House, car, clothes, garage, body, finances. No different.

2) The un-manifest and the manifest.

What hasn’t shown up vs what has shown up vs what you think and do they match? If not, this can cause anxiety.

3) Write down your income vs your expenses.

POP your finances. Put it on paper. Take what you’ve been thinking about and force yourself to see it in writing. Feedback from students on this one.

Less bills to pay. Less moving parts. Less to worry/think about. Fewer checks to write. More money in the bank?

Resource:
Charles Hugh Smith

Get Your Mind Straight. Get Your Money Straight.

Debt Shepherd 2017, All Rights Reserved

In Money, Personal Finance Education, Psychology, Spiritually Speaking , ,
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What’s Left After Taxes – 225 DSR

March 26, 2017

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Taking a look at our pay stub and seeing just how much Uncle Sam “steals.”

1) Federal, state, medicare, & social security are all taxes. In my case, it’s federal, Medicare & Social Security. 23%.

Look at these deductions, add them up, divide by your gross income. 1 out of 4 days I work, I receive zero immediate benefit.

2) Property taxes. Do you ever truly own your home, land?

Taxation is the use of indirect force by government (IRS). It is an extraction of your wealth used to expand the size and power of gov’t.

Stop paying your property taxes. Eventually the gov’t will take your home/land.

3) Government doesn’t produce anything in the open market. It is always a liability.

As gov’t grows, so does your tax bill.

My industry, banking, doesn’t produce anything either. It charges interest (rent) for the use of money and charges fees.

Not complaining. Reminding you to reduce your liabilities (debt) so you’ve got more money left to do what you please.

Resource:
Ayn Rand

Debt Shepherd 2017, All Rights Reserved
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In Education, Government, Money, Motivation, Personal Finance Education , ,
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Not Willing To Give Up – 223 DSR

March 8, 2017

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We discuss what you are not willing to give up to change your current financial situation.

Debt Shepherd 2017, All Rights Reserved

In Motivation, Personal Finance Education, Psychology , ,
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The Money Mafia – 222 DSR

March 8, 2017

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I talk to the host of Gnosis Cardia on blobtalkradio and we discuss the insidious money cartel known as The Federal Reserve Bank.

Resources:
Gnosis Cardia

Debt Shepherd 2017, All Rights Reserved

In Education, Government, Interviews, Personal Finance Education, The Economy , ,
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Health Insurance At Work – 219 DSR

July 31, 2016

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In this audio we discuss:
How long has health insurance been in America?
What’s happened to the cost in the last 15 yrs.
Why is it so expensive?
Your role in changing it if you’re not happy with what you’re paying.

Chuck Bartok’s MRI story. $2k via insurance. Had to call several local doctors to find one that took cash. Cost, $500.

According to the US Census Bureau, about 9% of Americans are covered under health insurance purchased directly by themselves, not through an employer.

Why is health care so expensive?
Not enough employees for discount?
Why all pitching money into large pot to get better rate?
Technology should mean higher volume, lower price.

I say it’s the cheap deductible.
I say no one looks at the itemized bill.
I say consolidation of power in insurance companies = monopoly on price.

Googled Ticker symbol for BlueCross/Blue Shield:
Top google hit: Wellpoint.
wellpoint.com takes you to Anthem Inc.com

Other ways to ensure better health?
Improve your diet, exercise, quit smoking, start or improve your spiritual practice, maintain good financial health.

Resources:
Ahyh
Health Care Cost Increases
WalMart dirty profit scheme
Big Bank dirty profit schemes

Get Your Mind Straight. Get Your Money Straight.
Debt Shepherd 2016, All Rights Reserved

In Education, Health Care, Interviews, Personal Finance Education, Self Reliance , ,
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The Retirement Gamble – 218 DSR

July 23, 2016

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Why a 401k might not be the great investment you’ve been led to believe.

I’m a guest of Jon White, author of the book:
A Tale of Two Houses – his journey of buying a home the right way after buying one the wrong way.

What’s covered in this audio:
What’s happening to your money when you give it to Wall Street?
How annual fees are stealing your future wealth.
The less work you do investing, the less profit you make.
The take away? 401k investing might not be what you think it is.

Resources:

Jon White – website
The Retirement Gamble – PBS documentary
How Wall Street Fleeces America – book
Wall Street on Parade – website

Get Your Mind Straight. Get Your Money Straight
Debt Shepherd 2016, All Rights Reserved

In Education, Government, Interviews, Personal Finance Education, The Economy , ,
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