Archives For how to get out of debt fast

071 DSR – Chasing Paper

December 12, 2012 — Leave a comment

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Meme Book

A wise man once said if we spent as much time working on our inner standing (enlightenment) as we do on the pursuit of paper (money), we’d already be adepts. Agreed. How long have you been chasing money? Why do you? Who told you that’s what you’re supposed to do?

I’m 43 and just learning to slow down my chase of money. Still doing it, yes. More aware I want to slow down and eventually stop? Yep. I still build the vision of a day without having to use it in this thing called the 3D world.

Definition:
A meme [1] is “an idea, behavior or style that spreads from person to person within a culture.”[2] A meme acts as a unit for carrying cultural ideas, symbols or practices, which can be transmitted from one mind to another through writing, speech, gestures, rituals or other imitable phenomena. Supporters of the concept regard memes as cultural analogues to genes in that they self-replicate, mutate and respond to selective pressures.[3]

I’m seeing money as a massive meme. The idea of earning, spending, saving, and storing it is a learned behavior. We chase paper that holds only perceived worth because the collective says it has worth. We’re taught from cradle to grave this is life. We fear not having enough of this paper. We fear the punishment of not giving enough of this paper to government (taxes).

What is a contract? A piece of paper. Think of contract as a verb, not a noun. When something contracts, it tightens, squeezes shut, becomes smaller. Hmmmm….

We even buy into allowing someone else to define our very freedom by what they write on a piece of paper. They call it a law but it starts out first as a bill. Sound like money? The power of paper. The power of our acceptance of the idea the paper has power.

I’m seeing a life with less money, less need for it, less chasing of this paper. I encourage you to join me in this thought exercise. It starts with gaining knowledge.

Resource:
Virus of the Mind: The New Science of the Meme

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email at:
greg [at] debtshepherd [dot] com

2012 Copyright – Greg A. Whitaker – All Rights Reserved

In Money, Psychology , ,
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070 DSR – The Secret of Debt Elimination

December 8, 2012 — Leave a comment

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dollar

There’s a secret The US gov’t doesn’t want you to know. The Federal Reserve dreads your understanding this powerful truth. Why? Because once you know the truth and stop playing their rigged game, these people in control lose. And you get your freedom and power back.

When you realize Congress can lend money interest free, you’ll scratch your head. They don’t want to do that for one simple reason. If they loan it interest free to the people, The Federal Reserve is out of business. Congress spends more and more money each year and grows the size, power, and control of government.

In order to do that each year without raising your taxes, they borrow it from The Federal Reserve Bank. Every time you borrow money you automatically create more money that doesn’t exist in the interest you have to pay. This is inflation on crack. You are, unknowingly, making the problem worse when you borrow money.

Imagine borrowing $100k to buy a house and paying back $100k, no interest. The interest on a $100k mortgage loan can be as much as twice the loan amount. So you’re paying for two houses, but you only get one. Imagine paying no interest and paying your house off in half the time!

But what if The Federal Reserve is no longer around? Won’t The US economy collapse? No. How do I know that? The Federal Reserve didn’t exist prior to 1913 and we were doing just fine without them. The US government collected federal taxes from imports and a few consumption taxes.

Fact: In 1913 The Federal Reserve Act became law.
Fact: In 1913 The Internal Revenue Service created form 1040, US Individual Income Tax Return.

Are the above two events a coincidence? Of course not. Congress started borrowing money from The Federal Reserve Bank the same year Congress started collecting income tax from you so they could make their monthly payments, plus interest!

The secret of government debt elimination is simple. Congress must stop borrowing money from The Federal Reserve Bank. The secret of debt elimination for you is simple. Stop borrowing money from The Federal Reserve Bank. All the money is coming from the same place.

The secret to debt elimination is simple:
STOP BORROWING MONEY

The fiscal cliff we need to avoid is our own incorrect thinking and ignorance about money. You are the revolution.

Resources:
The Creature from Jekyll Island: A Second Look at the Federal Reserve

Common Cents: A Retiring Six-Term Congressman Reveals How Congress Really Works-And What We Must Do to Fix It

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email at:
greg [at] debtshepherd [dot] com

2012 Copyright – Debt Shepherd – All Rights Reserved

In Money, The Basics, The Economy , ,
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068 DSR – Where Are The Statistics?

December 5, 2012 — Leave a comment

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statistics
Money’s all about counting right? How much do we have? How much did we lose? How much do we earn? How much are we worth, etc? I rarely use statistics. There’s a few reasons.

First of all, statistics can be used to prove any point a person wants to make. If you’re smart enough you can prove anything with statistics. Even if the numbers don’t appear to support your point.

Secondly, statistics are boring and take the human being element out of the conversation. I’m not going to reduce myself or anyone else to a mere number on a chart. It’s cold, lacks heart, and just doesn’t jive with how I roll.

Most importantly, statistics have a way of mesmerizing us. They have this weird hypnotic quality about them. And most folks seem to really get glassy eyed when the statistics are from some “authority figure.” Putting people into categories with numbers feels like lab rat stuff to me.

And you are much more than a number or lab rat. No doubt about it. I’m willing to bet you’re in the minority of free thinkers who are awake and don’t let statistics decide for you. Critical thinking is what I’m talking about.

I don’t need to puke a bunch of numbers on you to convince you something needs to change in The US economy. Of course I don’t. You look around and you know something ain’t jivin’ baby. Likewise, if your personal economy is lacking you don’t need a graph to explain it. You know because of how it feels.

So I choose to approach things from the human being side of your nature. If you hear something that really strikes a cord inside it’s because light recognizes light. I say let’s take this thing called learning about money “From the boardroom suite to the street.” Thank you Robert Wesley Branch for that quote.

You aren’t a number. The Social Security Administration may think otherwise. The IRS may think otherwise. Your insurance company may think otherwise. Don’t buy into it. You work the numbers. The numbers don’t work you. Money is a tool. Money is the slave and you are it’s master. Not the other way around.

Numbers are a sign post that point to an underlying behavior. Numbers show us effect or end result, not cause. If your savings account is consistently at a zero balance, the zero is an indication of your behavior. You have a seeming inability or unwillingness to save money. To solve that problem, you have to work on the cause (your behavior) not the effect (zero balance).

Resource:
Shadow Statistics

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email at:
greg [at] debtshepherd [dot] com

In Government, Money , ,
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066 DSR – The Currency of Gratitude

November 30, 2012 — Leave a comment

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grateful

Look around at all the people in your life and let them know how grateful you are for them. Gratitude is a currency a lot like love. It circulates from one person to another but only if you keep it moving. Kind of like pay it forward, right?

Be mindful of who/what you have in your life instead of just focusing on bringing more into your experience. This is the hardest lesson to learn.

When we learn to be grateful for what already is, we’re ultimately learning that who we are is more than enough. Nothing more needs to be added unto you.

I’m forever grateful to John Cummuta of Transforming Debt Into Wealth. His influence on me ultimately led to the birth of Debt Shepherd and fueled my passion to teach financial wellness.

Resources:
Erin’s Testimony

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email at:
greg [at] debtshepherd [dot] com

In Motivation, Psychology , , ,
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065 DSR – Broke But Not Poor

November 25, 2012 — Leave a comment

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broke
Broke is temporary. Poor is a state of mind and often may be permanent. The difference between the two is huge. I used to say when I met my wife I was broke or “temporarily unfunded” as we now like to joke.

Even saying “I’m broke” is a habit we should work to end. Why? The word broke is the word broken. When you say you’re broke what’s really coming out is, “I’m broken.” Not an affirmation I want to repeat, how about you?

We’ve been led to believe if we don’t have any money, somehow it makes us less whole as human beings. I say we should all know what it means to be broke, but not poor. Just as we should learn to be alone but not lonely. The distinction is massive because we’re talking about state of mind.

Your bank account is not who you are. Your clothes aren’t who you are. Michael Tsarion has this to say about fashion, “The hidden purpose of fashion is to decorate our inauthentic lives.” Are you decorating your life with more clothes, money, etc? Why?

We judge others by the amount of money they do or don’t make and do or don’t leave their heirs upon death. What do you think when you hear, “He died penniless?” We often make a massive assumption the person was reckless or maybe even lazy.

The most important thing we should ask ourselves is, “Who am I without money?” A good place to start learning to ask that question is in the book I’ve recommended below.

Resources:
The Man Who Quit Money

In Money, Psychology , , ,
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063 DSR – Standard of Living vs Quality of Life

November 16, 2012 — Leave a comment

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SOL

Are you running on the treadmill wondering why you can’t catch the proverbial carrot? It’s because we’re chasing stuff thinking it will make us happy. Give it up. Stop while we’re ahead. Early grave is where we’re headed if we don’t.

“Most of your possessions are actually in the way of your happiness. And it’s much easier to find the path toward happiness once you’ve cleared the debris.”
– Joshua Millburn & Ryan Nicodemus (The Minimalists)

Your soul is seeking security. Security from the feeling of disconnection from God. If you’re drowning, things are like a life preserver thrown to you. They may solve a temporary problem but won’t teach you to swim.

We’ve confused substance with source. We confused the animated with the animator.

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email at:
greg [at] debtshepherd [dot] com

In Motivation, Psychology , ,
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059 DSR – Self Employed -vs- W-2’d

October 22, 2012 — Leave a comment

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sign

What are the benefits of being self employed -vs- a W-2 employee? There are a few biggies worth mentioning.

Self employed:
Earn, deduct expenses, pay taxes, keep profit. Being able to deduct expenses before paying taxes is where it all happens for self employed people. Forming a corporation isn’t necessary, but is highly recommended. It can shield your personal assets from lawsuit.

W-2 employee:
Earn, pay taxes, deduct expenses, keep profit. You pay taxes before you do anything else. That’s why you can’t seem to get ahead. Not to mention all the other taxes you pay for everything you buy like food, gas, clothing, etc.

Starting a business:
Don’t go in debt to do it. Start today. Start small. If, after 1 year, you aren’t making any profit then it’s not a business it’s a hobby. If you continue to feed your business with money from your W-2 job, you don’t own a company. You have a hobby.

Smart investors buy assets that put money in their pocket each month (profit). Workers buy depreciating assets (cars, houses) that take money out of their pocket each month (liabilities).

Do your homework, but don’t study forever. Get started right where you are with exactly what you’ve got available to you now. Network and build relationships with others who do what you do. Amateurs compete. Professionals create. Huge difference.

There’s a rat race only if you decide to run in one.

Resources:
Own Your Own Corporation by Garrett Sutton

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email at:
greg [at] debtshepherd [dot] com

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058 DSR – It’s Never Too Late

October 15, 2012 — Leave a comment

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clock
Don’t wait until you’re behind on your house, car, or credit card payments to reach out and ask for help. It doesn’t have to get that bad. It’s never too late to stop what you’re doing and change direction.

Too often we don’t ask for help with our finances because of fear, ignorance, or embarrassment. Talking about our personal finances is still taboo in America. Why? Because how/where we spend our money reveals to the world exactly what’s important to us. If you’re telling the world one thing is important and your spending says otherwise, it’s time for a checkup from the neck up.

It’s never too late to ask for help. Just remember, a bankruptcy isn’t a magic pill. After the smoke clears you still have to learn to pay your bills on time and make wiser financial decisions. And, yes, a foreclosure isn’t a pleasant experience. AND it’s not the end of your life. After a foreclosure you have to live somewhere. If that means renting for a while, then so be it.

Help is out there. You have to make the first move. If there’s a funny sound coming from under the hood of your car, ignoring it isn’t going to fix it. Your money is no different. Whistling in the dark isn’t going to keep you safe. Reach out and turn on the light switch.

Give us a call on our voicemail feedback hotline at 615-200-7189 or drop Greg an email at: greg [at] debtshepherd [dot] com

In Money, Motivation , ,
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