inspiration http://www.wisebread.com/taxonomy/term/3904/all en-US How to Think Like a Billionaire When You’re Broke http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-think-like-a-billionaire-when-you-re-broke" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/poor_woman_with_empty_wallet.jpg" alt="Poor woman with empty wallet" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It&rsquo;s not easy being broke. As of 2014, there were almost 47 million Americans living below the poverty line. That&rsquo;s roughly 15 percent of the population.</p> <p>To simply tell these people to &quot;start thinking like a billionaire&quot; may seem tone deaf, or even cruel. But it actually is great advice. Millionaires and billionaires, especially those who are self-made, tend to think in a completely different way. It all comes down to a different view of the world. And it&rsquo;s time to embrace that mindset.</p> <h2>Don't think about the money you don&rsquo;t have</h2> <p>To illustrate this point, consider the test Dr. Tina Seelig gave her Stanford University students. She challenged them to <a href="https://www.psychologytoday.com/blog/creativityrulz/200908/the-5-challenge" target="_blank">make as much money as possible</a> in two hours using only $5 of &quot;seed funding&quot; tucked in an envelope. Working in teams, they could spend as many hours as they wanted planning, but once they tore open the envelope, the clock started ticking. The most successful results came from the teams that realized a very important part of the test &mdash; namely, that the $5 was a red herring.</p> <p>Concentrating on the small sum of money put them in a box, so they ignored it, and instead looked at ways to make money from scratch. Some of the ideas were incredible. One team made $650 by selling their time; they sold their three-minute presentation slot to a firm looking to recruit students in the class. Brilliant. Now that&rsquo;s how a billionaire thinks &mdash; looking at the opportunity, not the handicap.</p> <p>The lesson here is that the money you do not have right now should not, in any way, hold you back. If you don&rsquo;t have funds, find a way to use what you do have to make money. What can you sell? Is it your time? Is it knowledge? Is it a service? The lack of money in your account should not place a limit on your ideas.</p> <h2>Never say &quot;I can&rsquo;t afford it.&quot; Instead ask &quot;How can I afford it?&quot;</h2> <p>You may have heard it often growing up. &quot;Dad, can I get a new bike?&quot; &quot;No, we can&rsquo;t afford it.&quot; That&rsquo;s how poor and middle class people often think. They look at their current financial situation, and make a quick calculation. But that&rsquo;s the wrong approach.</p> <p>If you need something, or your kid wants something that isn&rsquo;t just a frivolous whim, don&rsquo;t automatically say, &quot;No, we can&rsquo;t afford it.&quot; Instead, counter with a question. Namely, &quot;OK &hellip; <em>how</em> can we afford that?&quot;</p> <p>Maybe it&rsquo;s a new stove, or replacing the old, worn-out car. If you immediately shut down the possibility, you&rsquo;ll never get it. A billionaire doesn&rsquo;t place these limits on ideas or dreams. They look into funding sources, ways to create capital, and many other money-generating avenues. And we&rsquo;re not talking about pulling out your credit card for something you can&rsquo;t afford and don&rsquo;t need.</p> <p>For necessities &mdash; or important dreams &mdash; it doesn&rsquo;t matter if the object in question costs $100 or $100,000,000. The process is still the same. How can you afford that? What can you do to make it happen? Start thinking. (See also: <a href="http://www.wisebread.com/how-to-come-up-with-1000-in-the-next-30-days?ref=seealso" target="_blank">How to Come Up With $1,000 in the Next 30 Days</a>)</p> <h2>See change as opportunity</h2> <p>Most of us are afraid of a major life change, be it a job loss, financial obligation, or a move to another state. These are stressful and difficult situations. But a billionaire sees any kind of change, even those most of us would consider negative, as an opportunity.</p> <p>If it&rsquo;s a job loss, it has created a glut of free time to use for a new venture. What can you do with that time that could create money in new and exciting ways? Think back to those college students with the $5 challenge. Some of them decided to make money waiting in line for people. They were making $20 a shot. Considering the minimum wage is currently $7.25, that&rsquo;s almost three times the amount for literally doing nothing.</p> <p>Fear of change is natural. But fear is a negative response to any situation, and in the long run, it will cripple your thinking and your ability to bounce back. Whatever the situation, take control and think positively. How can you turn it to your advantage? What do you have now that you did not have before this major event happened? Then, run with it.</p> <h2>Every penny saved is a penny earned</h2> <p>Billionaires do not blow money. People have this idea, which comes from a select few who hog the limelight, that the superrich are super wasteful. But they did not become rich by throwing money away.</p> <p>There is a now infamous anecdote about a billionaire who went into a New York bank asking for a $5,000 loan, and put his Bentley up as collateral. It was approved, and the bank employee parked the car in their underground garage. Two weeks later, the man returned from vacation, and paid back the $5,000, plus the $15.41 it accrued in interest. When asked why he, a rich man, would require such a small loan, he replied &quot;Where else could I have parked my car in New York City for two weeks, for only $15?!&quot;</p> <p>The story isn't real, but the strategy definitely is. This is how a billionaire would actually think about such a situation. Sure, they can afford the finest parking in the city, but why pay through the nose for it when they can get it for almost nothing?</p> <p>You can think the same way. What are you paying for, right now, that could be reduced in cost? What ways are there to save money on everyday purchases? From extreme couponing, to haggling and bartering, you have many options available to you.</p> <h2>Time really is money</h2> <p>Donald Trump once stated that he never wastes time. Even when he&rsquo;s on the golf course, he&rsquo;s doing business. He sleeps as little as possible, because every moment he&rsquo;s awake is an opportunity to make money or create something.</p> <p>Look at the ways you spend your time, and see how it can be maximized to work for you. If you&rsquo;re on the bus going to work, are you staring out of the window, or reading a book that could teach you a new skill? Do you have hobbies that are productive?</p> <p>Even playing video games can make you a small fortune, if you record yourself playing and post the videos to YouTube and Twitch. Indeed, the average &quot;pro-streamer&quot; makes between $3,000&ndash;$5,000 per month from 40 hours per week of game time. Think about that. They are literally being paid a living wage to play video games. Something that many people believe to be a waste of time has been turned into an income stream.</p> <h2>Consider every detail</h2> <p>It&rsquo;s been said that billionaires look at the bigger picture. It's often called &quot;the 30,000 foot view,&quot; which basically means seeing the layout, but not the houses, driveways, and storefronts. This is, in fact, the complete opposite of how a successful business operator thinks. Yes, the big picture is important at the get-go. But the details are what drives the success or failure of a venture. Often, it&rsquo;s a small detail that was overlooked that causes something to fail.</p> <p>Look at your own budget, and lifestyle, with that same eye for details. Are you paying $1 too much for something, especially a monthly bill? Did you examine the contract for your lease? Is there something in it that gives you a chance to save money? Did you get every deal you were supposed to get at the grocery store? Check the receipt.</p> <p>Back in 2005, a software company <a href="http://techtalk.pcpitstop.com/2012/06/12/it-pays-to-read-license-agreements-7-years-later/" target="_blank">hid a $1,000 prize</a> in the terms and conditions of its user agreement. It took five months, and over 3,000 sales, before someone actually read the agreement and claimed the money. Details count. Pay attention to them, and you could see incremental changes that really start to add up.</p> <p>Remember, billionaires and millionaires may live extravagant lives, but don't let that stop you from thinking the same way they do. It will make you wealthier in the process.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-only-money-advice-youll-actually-listen-to">The Only Money Advice You&#039;ll Actually Listen To</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">6 Inspiring Quotes About Money From Successful Women</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-pearls-of-financial-wisdom-from-dave-ramsey">3 Pearls of Financial Wisdom From Dave Ramsey</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-financial-basics-every-new-grad-should-know">The Financial Basics Every New Grad Should Know</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Lifestyle advice billionaires broke entrepreneurship ingenuity inspiration making money millionaires poverty saving money Wed, 24 May 2017 08:00:08 +0000 Paul Michael 1952957 at http://www.wisebread.com 6 Inspiring Quotes About Money From Successful Women http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-inspiring-quotes-about-money-from-successful-women" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-465667602.jpg" alt="Woman hearing inspirational quotes from successful women" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>It's no secret that most people tend to think of finance as a boys' club. But women have been blazing trails, disrupting entrenched ideas and industries, and making serious bank for centuries. It is unfortunate that their words of wisdom have been so often overlooked.</p> <p>The following quotes from female financial gurus will inspire anyone to improve their lives, their careers, and their bottom lines.</p> <h2>1. &quot;Be thankful for what you have; you'll end up having more. If you concentrate on what you don't have, you will never, ever have enough.&quot; &mdash; Oprah Winfrey</h2> <p>At a net worth of $3.1 billion, Oprah Winfrey is one of the richest women in America &mdash; but she didn't start out that way.</p> <p>Winfrey was born into poverty and raised until age six by her grandmother before bouncing back and forth between her mother and father. She suffered sexual abuse at the hands of family members, and at age 14, she had a baby who died within days.</p> <p>Her early life was not characterized by abundance, and yet Winfrey still learned to be thankful for what she had, rather than what she lacked. Her sense of gratitude helped her to focus on building her career rather than feel bitter over her childhood of abuse and neglect.</p> <p>Winfrey's attitude about the power of gratitude is actually borne out by scientific research. People who are <a href="http://www.cnbc.com/2016/11/04/being-grateful-improves-your-chances-of-success-studies-show.html" target="_blank">thankful for what they already have</a> are more successful, more emotionally resilient, and often even physically healthier. That's because they recognize there is no way to &quot;have it all.&quot; Feeling grateful for what they <em>do</em> have makes it possible to focus on appreciating the life they live right now, while also working toward the life they want to live.</p> <p>The fact that Winfrey overcame such a difficult, scarring childhood and feels grateful for the goodness in her life is part of what makes her so beloved. We can all learn to appreciate the abundance we already have while we work to build the life, career, and relationships we want.</p> <h2>2. &quot;One thing I've learned is that I'm not the owner of my talent; I'm the manager of it.&quot; &mdash; Madonna</h2> <p>Madonna may be the original &quot;Material Girl,&quot; but the singer, songwriter, actress, entrepreneur, and writer has parlayed her incredible talent into an estimated net worth of $560 million &mdash; meaning she never again has to wait for a man to present her with diamonds.</p> <p>Madonna's description of her talent may sound surprising. If she is not the owner of her own creativity and money savvy, then who is?</p> <p>As it turns out, Madonna's view of her abilities is reflective of something called the &quot;growth mindset.&quot; Rather than viewing her talent as an innate and fixed part of herself, Madonna sees it as something that she can manage and grow. If she believed that she &quot;owned&quot; her talent, then it would be easy for her to rest on her laurels and assume there is nothing new she could do with her music or writing.</p> <p>But as the manager of a prodigious talent, Madonna accepts the challenge of trying to push her creative boundaries and recreate herself over and over again. This mindset has allowed her to have an unparalleled career that has spanned close to four decades.</p> <p>That makes it an attitude we should all try to emulate. Whatever abilities we have can always be managed and improved by refusing to see them as static, which can lead to great success.</p> <h2>3. &quot;My best successes came on the heels of my failures.&quot; &mdash; Barbara Corcoran</h2> <p>Most people know Barbara Corcoran from her role on the show <em>Shark Tank</em>, but the Manhattan real estate investor, who is now worth $40 million, started off as a serially unemployed teacher and sometimes-waitress. After failing at 22 different jobs, she borrowed $1,000 from her boyfriend in 1973, and started a real estate business that she called The Corcoran Group. The boyfriend didn't last, but the business did. It grew to a $66 million company, which she sold in 2001 before embarking on her writing, speaking, consulting, and television career.</p> <p>Corcoran understood throughout her series of early failures that each of those missteps did not reflect poorly on her. They were simply different options to try until she found the right fit for her career. Since she did not internalize these failures, she was able to take the lessons she learned from them and find success.</p> <p>We should all take a page from Barbara Corcoran and learn to see each failure as a potential steppingstone to success. Picking yourself up after a failure may be difficult, but that is the only way you will ever succeed.</p> <h2>4. &quot;Some people think luxury is the opposite of poverty. It is not. It is the opposite of vulgarity. Luxury is the opposite of status. It is the ability to make a living by being oneself. It is the freedom to refuse to live by habit. Luxury is liberty. Luxury is elegance.&quot; &mdash; Coco Chanel</h2> <p>The iconic creator of the Chanel brand, Coco Chanel was born to an impoverished family in France. She died in 1971 with a net worth of $100 million. Her commitment to fashion and luxury made her one of the most influential people of the 20th Century, and her fashion line is worth $19 billion to this day.</p> <p>Growing up, Chanel knew the deprivations of poverty. This was part of the reason why she was so determined to enjoy luxury throughout her adult life. For Chanel, luxury was not defined by the corseted, heavy dresses that had been haute couture for many years before her own success. For Chanel, luxury in fashion had to be comfortable and true to the wearer. Trying to impress with excess was vulgar, and that was the true opposite of luxury.</p> <p>By Chanel's definition, luxury is available to anyone, no matter their income. And this is an important distinction to remember as you pursue your own successes. You can easily enjoy the luxurious comfort of being yourself, even if your budget runs more Old Navy than Chanel.</p> <h2>5. &quot;Money doesn't fall out of the sky. We had a business plan, an extraordinary proposal, and it was the right timing.&quot; &mdash; Sheila Johnson</h2> <p>Sheila Johnson is the co-founder of Black Entertainment Television and current owner of the WNBA team the Washington Mystics. Her net worth is currently estimated to be $710 million &mdash; but she wants to make sure that anyone who aspires to her kind of wealth understands what it took to get there.</p> <p>Johnson is not a multi-multi millionaire by accident. In 1979, she and her husband Robert Johnson created the television channel BET in order to provide a crucial outlet for African American voices in media. They knew exactly what they could offer, and they worked hard to create an excellent proposal in order to secure the funding they needed. They were also lucky to jump on the growth of television programming in the late '70s and early '80s. BET grew to the point where the Johnsons sold the channel in 2001 for $2.4 billion.</p> <p>Johnson makes it clear that there is no such thing as overnight success. You need to have a plan, you need to time things right, and you need to be able to persuade people to invest in you.</p> <h2>6. &quot;Did we ever plan on being billionaires? No, but we wanted to be millionaires.&quot; &mdash; Diane Hendricks</h2> <p>With a net worth of $4.9 billion, Diane Hendricks is the richest self-made woman in America. She and her husband Ken Hendricks created the Wisconsin-based ABC Supply Co. in 1982, which sells roofing, windows, gutters, and siding for residential and commercial buildings.</p> <p>Their success is all the more impressive considering the fact that Ken was a high school dropout and Diane only completed a high school education. The husband-and-wife team built their empire through hard work, financial savvy, and a shared vision. They both wanted to be millionaires and aimed their sights at that impressive goal.</p> <p>The fact that they were both on the same page in terms of growing their business, along with their lofty goals for their finances, eventually made them billionaires. They did not shy away from wanting financial success, so they were always ready to pounce when opportunities presented themselves.</p> <p>If you hope to emulate the Hendrickses, you would do well to partner with someone who shares your same goals and work ethic. Your level of success just might surprise you.</p> <h2>Heeding the words of wise women</h2> <p>The rags-to-riches stories of self-made women can offer incredible insight, hope, and inspiration to anyone who dreams of a successful life. Their words make it clear that opportunities are available to anyone, provided you have the drive, the mindset, the gratitude, and the audacity to chase your dreams.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/these-10-money-podcasts-will-help-you-save-tons">These 10 Money Podcasts Will Help You Save Tons</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-an-olympian-to-master-your-money">How to Think Like an Olympian to Master Your Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-can-learn-from-gilmore-girls">6 Money Lessons We Can Learn From &quot;Gilmore Girls&quot;</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entertainment advice celebrities empowerment entrepreneurship females financial gurus inspiration money quotes savvy success women Mon, 08 May 2017 08:00:12 +0000 Emily Guy Birken 1940410 at http://www.wisebread.com 10 Beloved Books of Successful Millionaires http://www.wisebread.com/10-beloved-books-of-successful-millionaires <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-beloved-books-of-successful-millionaires" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-629579800.jpg" alt="the favorite books of successful millionaires" title="" class="imagecache imagecache-250w" width="250" height="142" /></a> </div> </div> </div> <p>If you are what you read, then the books that the super-rich have on their bookshelves should be of interest to all of us. From entrepreneurs and media tycoons, to international superstars and the President himself, here are 10 books that should be required reading for anyone looking to improve their lives.</p> <h2>1. Mark Cuban &mdash; <em>The Fountainhead</em> by Ayn Rand</h2> <p>A billionaire entrepreneur and a star of the hit series <em>Shark Tank</em>, Mark Cuban loves this book so much, he named his yacht after it. The author, Ayn Rand, is a polarizing figure in politics, and her books and life views are often adopted by both right-wing and libertarian politicians. Her basic philosophy revolves around the power of the individual, with the pursuit of happiness being the moral purpose of life.</p> <p><a href="http://amzn.to/2opib5I" target="_blank">The Fountainhead</a>, first published in 1943, offered the world Rand's philosophy of Objectivism. The story, which centers on a young architect who battles against conventional standards, has become a classic of modern literature. Speaking of the book to C-Span, Cuban said, &quot;You know it's funny because I'll pick it up when I need motivation, but then if I read too far, I get too much motivation and I get too jittery so I have to put it down.&quot;</p> <p>If a book can continue to give a multibillionaire goose bumps, it has to be worth a read.</p> <h2>2. Jeff Bezos &mdash; <em>The Remains of the Day</em> by Kazuo Ishiguro</h2> <p>Amazon founder and CEO Jeff Bezos has a net worth of over $73 billion. So, it's perhaps a little surprising that his favorite book, Kazuo Ishiguro's <a href="http://amzn.to/2owrbGH" target="_blank">The Remains of the Day</a>, revolves around the life of a servant. In this case, that servant is an English butler called Stevens, who narrates the novel.</p> <p>Set in postwar England, the elderly butler must come to terms with some pivotal issues from his past, whilst maintaining his stoic and &quot;correct&quot; behavior. In 1993, the book was turned into a beautiful film featuring Sir Anthony Hopkins and Emma Thompson.</p> <p>Speaking about the book, Bezos said, &quot;You can't help but come away and think, I just spent 10 hours living an alternate life and I learned something about life and about regret.&quot; Awarded the Man Booker Prize for Fiction in 1989, <em>The Remains of the Day</em> was included in The Guardian's &quot;Books You Can't Live Without&quot; list.</p> <h2>3. Mark Zuckerberg &mdash; <em>The Aeneid</em> by Virgil</h2> <p>Written between 28 and 19 BC, <a href="http://amzn.to/2p2EJKL" target="_blank">The Aeneid</a> recounts the legendary story of Aeneas, a Trojan who traveled to Italy and became an ancestor of the Romans. From his journey from Troy, to the Trojan War, the funeral games, and a vision of the underworld, <em>The Aeneid</em> is widely regarded as a classic of Italian literature. What's more, the entire book is actually a poem, consisting of 9,896 lines in dactylic hexameter.</p> <p>So how did Mark Zuckerberg, a young tech-savvy entrepreneur who created the social media climate we now live in, come to read the book? He was introduced to it while studying Latin in high school, and says the book &quot;knows no boundaries in time and greatness.&quot; He is also known to quote lines from <em>The Aeneid</em> in Facebook meetings.</p> <h2>4. Oprah Winfrey &mdash; <em>To Kill a Mockingbird</em> by Harper Lee</h2> <p>If you ever needed an excuse to read this masterpiece of American literature, knowing it's Oprah Winfrey's favorite book is a doozy. Set in Alabama during the Depression, &quot;<a href="http://amzn.to/2opm2Q2" target="_blank">To Kill a Mockingbird</a>&quot; covers three years in the life of Scout Finch, an eight-year-old girl, her brother Jem, and their father Atticus, a defense lawyer. Atticus is called upon to defend Tom Robinson, a young black man accused of raping a white woman.</p> <p>Told through Scout's eyes, it's a compassionate and moving story of kindness, cruelty, and the roots of human behavior. &quot;I remember reading this book and then going to class and not being able to shut up about it,&quot; Oprah told The Baltimore Sun. &quot;I read it in eighth or ninth grade, and I was trying to push the book off on other kids. So it makes sense to me that now I have a book club, because I have been doing that since probably this book.&quot;</p> <h2>5. Elon Musk &mdash; <em>The Foundation Trilogy</em> by Isaac Asimov</h2> <p>The founder and CEO of Space Exploration Technologies Corp is bringing the ideas of the future into the present day, with award-winning electric cars and whole-home solar power. To discover that his favorite book series comes from noted science fiction author Isaac Asimov hardly raises an eyebrow.</p> <p>The <a href="http://amzn.to/2oVr2gR" target="_blank">The Foundation Trilogy</a> series revolves around mathematician Hari Seldon, who has spent his whole life developing a branch of mathematics known as psychohistory. Using the laws of mass action, the science is able to predict the future on a grand scale. Unfortunately, it predicts the fall of the Galactic Empire, and a dark age lasting 30,000 years before the second great empire arises.</p> <p>Musk says, &quot;The lessons of history would suggest that civilizations move in cycles &hellip; there could be some series of events that cause technology levels to decline.&quot; The book series has had a profound effect on the way Musk thinks about the world.</p> <h2>6. Bill Gates &mdash; <em>The Catcher in the Rye</em> by J.D. Salinger</h2> <p>Set in the 1950s, <a href="http://amzn.to/2nBPJPf" target="_blank">The Catcher in the Rye</a> is narrated by a 16-year-old boy named Holden Caulfield, who is undergoing treatment in a mental institution. He recounts the tale of two days in his life when all this &quot;madman stuff&quot; happened to him. But there is a deeper meaning here, as we see him battle with issues around growing up, and avoiding the pressures of adulthood.</p> <p>&quot;It's my favorite book,&quot; said Gates. &quot;It acknowledges that young people are a little confused, but can be smart, and see things that adults don't.&quot;</p> <h2>7. Michael Bloomberg &mdash; <em>The Honourable Schoolboy</em> by John Le Carré</h2> <p>John Le Carré is a highly-regarded author of espionage novels, and has written such classics as <em>The Spy Who Came in From the Cold</em>, <em>Tinker Tailor Soldier Spy</em>, and <em>The Constant Gardener</em>. However, it his one of his lesser known works that captured the imagination of Bloomberg.</p> <p><a href="http://amzn.to/2ownm4c" target="_blank">The Honourable Schoolboy</a> tells the story of George Smiley, who must reconstruct an intelligence service and run a successful offensive espionage operation. It is the second novel in an omnibus featuring Smiley, and in 1983 it was adapted for a BBC Radio production featuring Martin Jarvis.</p> <p>&quot;It's 600 pages, it's mostly description, there is almost nothing that happens. But it's fascinating,&quot; said Bloomberg. Reading 600 pages of fascinating nothingness? Sounds like fun.</p> <h2>8. Richard Branson &mdash; <em>Stalingrad: The Fateful Siege 1942&ndash;1943</em> by Antony Beevor<strong> </strong></h2> <p>Founder of the highly successful Virgin brand, Richard Branson includes <em>Peter Pan</em>, <em>Wild Swans</em>, and <em>Swallows and Amazons</em> in his list of favorite books. As such, a book about World War II's most harrowing battle seems a little out of place in that company.</p> <p>The year is August 1942, and Hitler's huge Sixth Army reached the city that bore Stalin's name. Over the five months that followed, the battle for the ruins of the city cost more than a million lives. More than just a pure account of the battle, <a href="http://amzn.to/2owN60f" target="_blank">Stalingrad: The Fateful Siege 1942&ndash;1943</a> recounts the personal experiences of soldiers on both sides, and includes tales of interrogation, desertion, and execution.</p> <h2>9. Beyoncé &mdash; <em>What Will It Take to Make a Woman President?</em> by Marianne Schnall</h2> <p>There aren't many people in America, or the world, who don't know of Beyoncé. The multi-Grammy winning singer and actress has amassed millions from her albums, concerts, perfume lines, clothing, and films.</p> <p>Schnall penned <a href="http://amzn.to/2on4DWG" target="_blank">What Will It Take to Make a Woman President?</a> after a question was brought up by her 8-year-old daughter: &quot;Why haven't we ever had a woman president?&quot; It was a question she did not know how to answer, and so she set about asking the likes of Sheryl Sandberg, Maya Angelou, Gloria Steinem, Nancy Pelosi, Nicholas Kristof, and Melissa Etheridge.</p> <p>&quot;It's a collection of interviews and essays by great women,&quot; says Beyoncé. &quot;They will inspire you to become a better leader.&quot;</p> <h2>10. President Trump &mdash; <em>The Power of Positive Thinking</em> by Norman Vincent Peale</h2> <p>Love him or hate him, he's the 45th President of the Unites States, and a very wealthy man. Some say that he's not much of a reader these days, but he has stated that this book had a profound effect on him and his business empire.</p> <p>The international best seller by Norman Vincent Peale speaks of faith, spirituality, and the power of the mind to drive you forward. Via simple, prayerful exercises that you do daily, you can eliminate all the negative thoughts that prevent you from achieving the happiness and success you deserve.</p> <p>President Trump read <a href="http://amzn.to/2oniNY2" target="_blank">The Power of Positive Thinking</a> when he was billions of dollars in debt, and it turned his life around. &quot;My father was friends with Dr. Norman Vincent Peale, and I had read his famous book, <em>The Power of Positive Thinking</em>,&quot; said Trump. &quot;I refused to be sucked into negative thinking on any level, even when the indications weren't great. That was a good lesson because I emerged on a very victorious level.&quot; Victorious indeed, considering he is now the most powerful man in the world.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/10-beloved-books-of-successful-millionaires">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">6 Inspiring Quotes About Money From Successful Women</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/another-one-for-the-readers-0">Another one for the readers</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-cities-the-most-billionaires-call-home">The 5 Cities the Most Billionaires Call Home</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entertainment billionaires books celebrities inspiration millionaires reading wealthy Fri, 21 Apr 2017 09:00:11 +0000 Paul Michael 1930340 at http://www.wisebread.com 5 Surprising Budget Habits of Wealthy Financial Gurus http://www.wisebread.com/5-surprising-budget-habits-of-wealthy-financial-gurus <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-surprising-budget-habits-of-wealthy-financial-gurus" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-482951141.jpg" alt="Learning budget habits of wealthy financial gurus" title="" class="imagecache imagecache-250w" width="250" height="142" /></a> </div> </div> </div> <p>&quot;He who will not economize will have to agonize,&quot; warned Chinese philosopher Confucius as early as the 5th Century B.C. His advice has survived the test of time and has become the mantra of many individuals in their quest for financial success.</p> <p>However, you would think that once somebody &quot;makes it,&quot; it's time to sit back and &quot;<a href="http://www.wisebread.com/the-high-cost-of-the-treat-yourself-mindset?ref=internal" target="_blank">treat yourself</a>.&quot; Not so fast! Let's review five wealthy financial gurus who continue to save money in the most surprising ways.</p> <h2>1. Warren Buffett eats McDonald's every day for breakfast</h2> <p>With an estimated net worth of over $78 billion, Warren Buffett can definitely afford to sip mimosas for breakfast without sweating the bill. Still, the Oracle of Omaha revealed in a recent 2017 documentary that he sticks to a daily breakfast budget of <a href="http://time.com/money/4656662/heres-what-warren-buffett-eats-for-breakfast-every-day/" target="_blank">no more than $3.17</a> at Mickey D's.</p> <p>Buffett usually picks up his breakfast from the drive-thru of a nearby McDonald's on his way to the office. &quot;When I'm not feeling quite so prosperous, I might go with the $2.61, which is two sausage patties, and then I put them together and pour myself a Coke,&quot; Buffett deadpans. Coke for breakfast, you ask? Buffett's investment company holds <a href="http://www.cnbc.com/berkshire-hathaway-portfolio/" target="_blank">over 9 percent</a> of shares from the drink company.</p> <h2>2. T. Boone Pickens owns a pair of shoes from 1957</h2> <p>Through his success in the oil and gas sector, T. Boone Pickens amassed a fortune over the years and ventured into the financing and investment sectors. In 2012, <a href="https://www.forbes.com/profile/t-boone-pickens/" target="_blank">Pickens ranked #913</a> on Forbes' list of billionaires. Nowadays, he doesn't rank in that list at all because he has given more than $1 billion away through his philanthropic efforts.</p> <p>Despite his financial success, the author of <a href="http://amzn.to/2mYvcn7" target="_blank">The First Billion Is the Hardest</a> uses what he buys until it falls apart, which can be several decades later. &quot;If I want something, I look at it, decide what it is, but it will usually be the best product. I've got a pair of loafers that I still wear that I got in 1957,&quot; he disclosed <a href="http://www.politico.com/story/2011/06/q-a-with-t-boone-pickens-057296" target="_blank">during an interview</a> in 2011.</p> <p>And it's not just shoes, Pickens limits the size of the pieces on his closet in general. &quot;People are always surprised that I don't have a closet full of suits,&quot; Pickens told Kiplinger. &quot;I buy three suits every five or so years and only own 10 total. That's all I need.&quot;</p> <h2>3. Mitt Romney hunts for cheap flights</h2> <p>While you may know Mitt Romney mostly for being a former presidential candidate, he is also the co-founder of the private equity firm Bain Capital. Through his work as a management consultant and <a href="http://www.wisebread.com/5-investments-that-arent-stocks-or-bonds?ref=internal" target="_blank">private equity</a> investor, he has a high net worth &mdash; estimated at <a href="http://www.forbes.com/sites/edwindurgy/2012/05/16/what-mitt-romney-is-really-worth/#783284812927" target="_blank">$230 million</a> by Forbes when he ran for office back in 2012.</p> <p>Not a stranger to the finer things in life, you would expect Romney to stick only with premium buys. While he has purchased six-figure Warmblood horses, he also loves finding bargains. According to The New York Times, he is obsessed with scoring cheap flights on JetBlue. A longtime adviser to Romney supported that claim by stating that, when asked to change a flight, Romney hesitated and responded, &quot;Well, it's a cheap flight. It's a middle seat, but I got a great JetBlue rate.&quot;</p> <h2>4. Jack Bogle eats PB&amp;J sandwiches for lunch</h2> <p>One of the few <a href="http://www.wisebread.com/5-investors-with-better-returns-than-warren-buffett" target="_blank">investors with better returns than Warren Buffett</a> is John &quot;Jack&quot; Bogle, founder and retired CEO of the Vanguard Group. If the Vanguard name sounds familiar, it's most likely because you own one of its low-cost <a href="http://www.wisebread.com/3-steps-to-getting-started-in-the-stock-market-with-index-funds?ref=internal" target="_blank">index funds</a> in your retirement or investment account. And you wouldn't be alone: Just the Vanguard 500 Index Investor Shares fund [Nasdaq: <a href="https://finance.yahoo.com/quote/VFINX?p=VFINX" target="_blank">VFINX</a>] has $292.36 billion in assets as of February 2017!</p> <p>As the pioneer of low-cost passively managed index funds, Bogle believes that the key to making it big in investments is to aggressively minimize fees. And he sticks by this belief in life as well. Many publications have recounted that his go-to lunch food is peanut butter and jelly sandwiches. He began bringing a PB&amp;J sandwich and an apple when he first started Vanguard because he refused to pay the prices charged in his own cafeteria. And when he does have to order there, he sticks with a simple grilled cheese sandwich.</p> <h2>5. David Cheriton cuts his own hair</h2> <p>A common daydream of individual investors is to uncover the next Microsoft, Facebook, or Apple, become the first one to invest in that moneymaker, and be set for life. Stanford professor David Cheriton happens to be one of those investors that hit the jackpot when in 1998, he wrote a check for $100,000 to Google founders Larry Page and Sergey Brin. Today, that investment makes up the bulk of his estimated $4.2 billion net worth.</p> <p>As of 2012, the &quot;Billionaire Professor&quot; had invested over $50 million across 17 startups and companies, and continues to invest. To this day, he continues to plunk down checks in several other companies, such as AISense and ThreatSTOP.</p> <p>With such an investing pedigree, you would think that he wouldn't mind splurging a bit on a nice haircut once a month. For over three decades, Cheriton prefers to cut his hair himself. &quot;It's not that I can't fathom a haircut,&quot; said Cheriton. &quot;It's just easy to do myself, and it takes less time,&quot; he confessed to Forbes. Since the professor is adept at making good calls, probably nobody would argue with him on this one.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/5-surprising-budget-habits-of-wealthy-financial-gurus">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-reasons-you-shouldnt-invest-like-warren-buffett">7 Reasons You Shouldn&#039;t Invest Like Warren Buffett</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/knowing-when-to-walk-away-financial-planning-for-an-unknown-ending">Knowing When to Walk Away: Financial Planning for an Unknown Ending</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-disappearance-of-real-america-my-guest-post-at-zen-habits">The disappearance of real America - my guest post at Zen Habits</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/its-time-to-drop-these-6-rules-of-money-etiquette">It&#039;s Time to Drop These 6 Rules of Money Etiquette</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment Lifestyle budget buys cheap finance gurus inspiration live within your means saving money vanguard Warren Buffett wealthy Fri, 24 Mar 2017 10:00:10 +0000 Damian Davila 1911600 at http://www.wisebread.com 6 Money Lessons From African-American Leaders http://www.wisebread.com/6-money-lessons-from-african-american-leaders <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-money-lessons-from-african-american-leaders" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-471544149.jpg" alt="Learning money lessons from African American leaders" title="" class="imagecache imagecache-250w" width="250" height="142" /></a> </div> </div> </div> <p>Before the early 20th century, black history was largely ignored by both historians and the general public. As a result, many great lessons imparted by African-American leaders were also ignored and overlooked.</p> <p>In particular, African-American leaders of the past and present offer a great deal of insight on money and finance that can inspire and enlighten all Americans. Read on to learn the financial lessons these great Americans can teach you.</p> <h2>Oprah Winfrey</h2> <p>&quot;Everyone wants to ride with you in the limo, but what you want is someone who will take the bus with you when the limo breaks down.&quot;</p> <h3>The Lesson<strong> </strong></h3> <p>Oprah Winfrey is one of the richest people in America, which means she is well aware of how money, fame, and success can draw people to you. But the trappings of success, like a limousine, are just that &mdash; trappings. There is no guarantee that the success, money, and acclaim you have now will last, which means you can't trust the people who are only there because of the appearance of your success.</p> <p>Just as Oprah has her Gayle, who will always happily hop on a bus with her when things go wrong, you should seek people who love and respect you for who you are, and not what you have.</p> <h2>Mellody Hobson</h2> <p>&quot;If you understand how money can work for and against you, you can make better decisions. Financial literacy is not about wealth but about understanding money regardless of the amount. It's about how you treat it and how you maximize opportunities.&quot;</p> <h3>The Lesson<strong> </strong></h3> <p>Mellody Hobson, the president of Ariel Investments, may be best known by lay audiences for the two TED talks she gave in 2014 and 2015. She is an advocate for both <a href="https://www.ted.com/talks/mellody_hobson_color_blind_or_color_brave" target="_blank">greater diversity in corporate culture</a> and for <a href="https://youtu.be/zVLxDSXC7BU" target="_blank">increased financial literacy</a>. And she truly believes that we can all learn to handle our money better, no matter how much or how little we have. It's a lesson all Americans need to absorb if we want to improve our financial lives.</p> <p>According to Jackie Cummings Koski, financial educator and author of the book <a href="http://amzn.to/2kRvA21" target="_blank"><em>Money Letters 2 My Daughter</em></a>, Hobson's words and example have made a major difference in her life: &quot;Learning about how Mellody Hobson rose to tremendous success in the business and financial world helped to change my mindset about money and overcoming the odds.&quot;</p> <p>That mindset change is exactly what Hobson wants for all Americans, so that we can all maximize the opportunities in our lives.</p> <h2>Dr. Martin Luther King Jr.</h2> <p>&quot;Philanthropy is commendable, but it must not cause the philanthropist to overlook the circumstances of economic injustice which makes philanthropy necessary.&quot;</p> <h3>The Lesson</h3> <p>This quote from Dr. Martin Luther King Jr. can sound somewhat radical to modern ears, since we are not used to thinking beyond the importance of giving back to those in need. But as Dr. King points out, if economic injustice were eradicated, then charity and philanthropy would not be so necessary. It's easy for philanthropists to simply pat themselves on the back for their philanthropy, rather than wrestle with the systemic reasons why their generosity is necessary.</p> <p>To take Dr. King's message to heart, we should all remember that the problem of poverty is not over after we write a check to help those who are less fortunate. We need to also question our assumptions and challenge ourselves to make economic choices that align with our values.</p> <h2>Madam C.J. Walker</h2> <p>&quot;I had little or no opportunity when I started out in life. I had to make my own living and my own opportunity. But I made it! ... Don't sit down and wait for the opportunities to come. Get up and make them!&quot;</p> <h3>The Lesson</h3> <p>Sarah Breedlove, who marketed herself and her hair products under the name <a href="http://www.biography.com/people/madam-cj-walker-9522174#synopsis" target="_blank">Madam C.J. Walker</a>, was the first American woman to become a self-made millionaire. Walker's hair care empire all started when she created home remedies to deal with a scalp disorder that caused her to lose much of her hair. She began selling her remedy, which eventually grew into a national business that included factories, beauty schools, and trained sales beauticians who sold door-to-door.</p> <p>Walker was a single mother when she started her business, and she had little education and no experience as an entrepreneur. Yet, she recognized that she could build something great from what she knew &mdash; how to help herself and other women with hair care. She did not wait for someone else to help her or offer her a job, but instead decided to become an innovative businesswoman on her own.</p> <p>We should all learn to create our own opportunities using our strengths like Madam C.J. Walker did, rather than wait for opportunities to find us.</p> <h2>W.C. Handy</h2> <p>&quot;Then I saw the beauty of primitive music. They had the stuff the people wanted &hellip; my idea of what constitutes music was changed by the sight of that silver money cascading around the splay feet of a Mississippi string band.&quot; -&nbsp;<em>Father of the Blues, An Autobiography</em></p> <h3>The Lesson<strong> </strong></h3> <p>Composer and musician W.C. Handy is known as the &quot;Father of the Blues,&quot; but he did not start writing and playing blues music until well after he had established himself as a composer. In fact, he did not think of the blues as legitimate music, because it was &quot;just&quot; the songs that poor black folks would play for themselves. Then at a performance for a rich, white audience in Mississippi, a string blues band was brought in off the street to play, and the audience showered the black performers with money.</p> <p>Handy realized in that moment that he had been overlooking an important musical style because of snobbery, and that he was the right person to bring this musical style to the world. Handy was wise enough to recognize that he could give the people what they wanted &mdash; blues music &mdash; and make a profit from his own considerable talent.</p> <p>His example reminds us that capitalism can influence art in a wonderful way, rather than being an enemy of creativity. Had Handy not had his realization upon seeing the audience reaction to the string blues band, an entire genre of music would potentially be lost to history.</p> <h2>Lynette Khalfani-Cox</h2> <p>&quot;So, getting your money right matters well beyond saying, 'Oh, I had [so much money] in the bank.' It's about financial freedom to make the choices you want. It's about having a more stress-free life in what is an increasingly stressful world. And it's ultimately about feeling like you're in control of things as well, so that things don't feel so...out of whack.&quot; - <a href="http://podcast.farnoosh.tv/2015/03/lynnette-khalfani-cox/#" target="_blank">So Money podcast</a> with Farnoosh Torabi</p> <h3>The Lesson<strong> </strong></h3> <p>We have a tendency to think that paying attention to our money is a stressful drag, but financial expert <a href="http://askthemoneycoach.com/" target="_blank">Lynette Khalfani-Cox</a>,<a href="http://askthemoneycoach.com/"> &quot;</a>T<a href="http://askthemoneycoach.com/">h</a>e M<a href="http://askthemoneycoach.com/">o</a>n<a href="http://askthemoneycoach.com/">e</a>y C<a href="http://askthemoneycoach.com/">o</a>a<a href="http://askthemoneycoach.com/">c</a>h,&quot; understands that letting your money fall into chaos is much more stressful. She knows whereof she speaks: Khalfani-Cox once had $100,000 in credit card debt, before paying it all off in three years and turning her financial life around.</p> <p>Seeing how a self-described former shopaholic like Khalfani-Cox could quickly learn to be more mindful of her money and succeed in a career in finance is incredibly inspirational, particularly for other women of color. Real estate investor <a href="http://www.blackenterprise.com/money/real-estate-confidential-lisa-phillips/" target="_blank">Lisa Phillips</a> says of Khalfani-Cox, &quot;Until you really see someone of your same color and culture succeeding, that's when hope becomes conviction that you can do something.&quot;</p> <p>Khalfani-Cox works to make sure we all feel more in control of our lives, so that we can all feel the conviction that we can achieve our goals.</p> <h2>Honoring the Lessons of African-American Leaders</h2> <p>The lessons from African-American leaders throughout our history can inspire anyone to work toward their goals, recognize their values, and know their worth. Their words can help you change your money mindset, turn hope into conviction, and recognize that opportunities come to those who seek them.</p> <h2 style="text-align: center;">Like this article? Pin it!&nbsp;</h2> <p>&nbsp;</p> <p style="text-align: center;"><a href="//www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F6-money-lessons-from-african-american-leaders&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F6%20Money%20Lessons%20From%20African-American%20Leaders.jpg&amp;description=6%20Money%20Lessons%20From%20African-American%20Leaders" data-pin-do="buttonPin" data-pin-config="above" data-pin-color="red" data-pin-height="28"><img src="//assets.pinterest.com/images/pidgets/pinit_fg_en_rect_red_28.png" alt="" /></a> </p> <!-- Please call pinit.js only once per page --><!-- Please call pinit.js only once per page --><script type="text/javascript" async defer src="//assets.pinterest.com/js/pinit.js"></script></p> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/6%20Money%20Lessons%20From%20African-American%20Leaders.jpg" alt="6 Money Lessons From African-American Leaders" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/6-money-lessons-from-african-american-leaders">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">6 Inspiring Quotes About Money From Successful Women</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-quotes-to-inspire-your-dream-career">8 Quotes to Inspire Your Dream Career</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-of-the-coolest-sayings-about-saving">10 of the Coolest Sayings About Saving</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-times-dad-was-right-about-money">5 Times Dad Was Right About Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance african americans black history month civil rights inspiration leaders lessons quotes Wed, 22 Feb 2017 11:00:12 +0000 Emily Guy Birken 1894900 at http://www.wisebread.com Reach Your Money Goals Faster With a Simple Naming Trick http://www.wisebread.com/reach-your-money-goals-faster-with-a-simple-naming-trick <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/reach-your-money-goals-faster-with-a-simple-naming-trick" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/boy_piggy_bank_33365082.jpg" alt="Boy reaching money goals faster with naming trick" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>I used to feel crushed by my to-do list. I could never complete all the tasks on the list according to my (unrealistic) schedule, so I always felt like a loser. Even when I did complete all the tasks on my daily list, I never felt the sense of accomplishment that I hoped for.</p> <h2>What Would Han Solo Do?</h2> <p>While researching a better way to manage my list, I stumbled across the concept of <a href="http://www.wikihow.com/Create-an-Effective-Action-Plan">action plans</a>. According to project managers who specialize in getting things done, to-do lists aren't particularly useful for a variety of reasons. Action plans lead to success. Learning to action plan was going to revolutionize my schedule!</p> <p>But then I got sidetracked, so I never got around to actually formulating an action plan. But it didn't matter. Just renaming my daily list of chores &quot;Plan of Action&quot; instead of &quot;To Do&quot; made me feel so much better about myself. I became more productive because I'd freed my brain from worry and made more space for creative thinking. Who writes to-do lists? Chumps, obviously. Who writes action plans? The architects of D-Day. The United Nations. Han Solo.</p> <p>Did Han Solo consult his to-do list before he shot first? No. He did not.</p> <h2>Is My Home Equity Line of Credit Half Full or Half Empty?</h2> <p>Currently, my husband and I are <a href="http://www.wisebread.com/my-2016-budget-challenge-why-i-need-to-find-31k-this-year">paying down a $15,000 loan</a> that we had to take out to replace the outgoing sewer line of our house. Plumbing is pretty much the least sexy way to spend money on home repair.</p> <p>Other than our home mortgages, this loan is, by far, our largest debt. And, I hate debt. Debt makes me feel unsafe and without choices. The lack of control attached to this debt specifically ticks me off. It's not like we had a choice in the matter. We didn't accrue this debt by doing something fun like taking a vacation we couldn't afford. We have this loan because our sewer line broke and we had to fix it.</p> <p>Since a simple name change made my to-do list feel more manageable, I wondered if renaming the sewer loan would make me feel less angry about paying down this debt.</p> <h2>First World Pooping</h2> <p>&quot;Oh, you're the one with the funny account names,&quot; says the bank teller as she completes my deposit. The HELOC that I had to take out to pay for the sewer line is now named &quot;First World Pooping.&quot;</p> <p>In my hours of grumpy rumination about how much I hate the sewer line loan, I had come to two realizations:</p> <ul> <li>About 60% of the world's population doesn't have indoor plumbing or even adequate sanitation. I have $15,000 in debt because my husband and I made the choice to repair our sewer line, instead of letting raw sewage drain into the dirt under our house. Six out of 10 people on the planet <a href="http://www.slate.com/blogs/future_tense/2013/02/22/_60_percent_of_the_world_population_still_without_toilets.html">can't choose to have a working toilet</a>.</li> </ul> <ul> <li>Although $15,000 is a huge chunk of change for me, 80% of the world's population&nbsp;<a href="http://www.globalissues.org/article/26/poverty-facts-and-stats">lives on less than $10 per day</a>, so just my ability to get an emergency loan for $15,000 puts me in the uppermost strata of wealth on the planet.</li> </ul> <p>In other words, my $15,000 sewer repair is a First World Problem. I may not like the cost of my choice, but I have enough financial control over my life that I can enjoy the privilege of flushing the toilet with drinking water.</p> <p>Paying down the sewer loan each month still gives me no pleasure, but I no longer resent this debt like I used to. By renaming the loan &quot;First World Pooping&quot; I get a monthly reminder to practice gratitude for my comfortable, First World life.</p> <h2>Motivated Savings</h2> <p>In addition to renaming my loans, I have renamed all my bank accounts to help me meet my financial goals. I am more inspired to put money into my &quot;OMG Retire Early!&quot; account than I ever was when it was just named &quot;Retirement.&quot; Socking away cash in my &quot;Escape Plan&quot; is somehow more fun than topping off my &quot;Emergency Fund.&quot; Who has emergency funds? People who are worried about future plumbing problems. Who has an &quot;Escape Plan?&quot; Han Solo.</p> <p>My account formerly known as &quot;Savings&quot; has been repeatedly renamed with the location of my next vacation. Every time I open up my bank records I get a positive push to save more money.</p> <h2>Obsessive Compulsive Labeling</h2> <p>I know this will come as a complete shock to anyone who reads this, but I have OCD. When I mentioned to my OCD support group that relabeling chores had a positive effect on my productivity, worldview, and bank account, I discovered that this brain hack is actually a fairly common <a href="https://www.psychologytoday.com/blog/in-practice/201301/cognitive-restructuring">Cognitive Behavioral Therapy</a> exercise that is used to treat a variety of common psychological problems. I don't know if renaming every chore will cure my OCD, but it has made reaching financial goals a little easier.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/max-wong">Max Wong</a> of <a href="http://www.wisebread.com/reach-your-money-goals-faster-with-a-simple-naming-trick">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-manage-your-money-during-a-spousal-separation">How to Manage Your Money During a Spousal Separation</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/youve-been-saving-money-all-wrong-heres-why">You&#039;ve Been Saving Money All Wrong. Here&#039;s Why</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-personal-finance-resolutions-anyone-can-master">8 Personal Finance Resolutions Anyone Can Master</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-financial-basics-every-new-grad-should-know">The Financial Basics Every New Grad Should Know</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-tell-youve-become-a-financial-grownup">How to Tell You&#039;ve Become a Financial Grownup</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Life Hacks Organization bank accounts banking budgeting debt fun inspiration loans motivation renaming saving money Thu, 27 Oct 2016 10:00:11 +0000 Max Wong 1821541 at http://www.wisebread.com These 10 Money Podcasts Will Help You Save Tons http://www.wisebread.com/these-10-money-podcasts-will-help-you-save-tons <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/these-10-money-podcasts-will-help-you-save-tons" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_coffee_phone_92461379.jpg" alt="Woman listening to money podcasts that will save her tons" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Want to save money and become more financially literate without hitting the books? Podcasts are a great way to pass the time, and they serve to entertain and educate. You can find a podcast about almost anything, and best of all, they are free.</p> <p>Listen to podcasts while commuting to and from work or listen to one while taking a walk. I even enjoy listening to financial podcasts when I am cleaning or folding laundry. (See also: <a href="http://www.wisebread.com/the-5-best-money-podcasts?ref=seealso">The 5 Best Money Podcasts</a>)</p> <h2>1. Dave Ramsey Show</h2> <p>Even though I don't agree with all of Ramsey's money philosophies, he is one of my favorite personal finance gurus. The <a href="http://www.daveramsey.com/show">Dave Ramsey podcast</a> is a mix of stories and interviews of individuals and couples who have conquered their debt, as well as personal finance advice from Ramsey. It is more of a talk-show type podcast than a financial monologue, which makes for an engaging listen.</p> <h2>2. Money Girl's Quick and Dirty Tips for a Richer Life</h2> <p>Want to become financially smarter in the least amount of time possible? Then the <a href="https://itunes.apple.com/us/podcast/money-girls-quick-dirty-tips/id209859739?mt=2">Money Girl's</a> podcast is the right fit for you. Most podcasts are around 15&mdash;18 minutes, which makes it easy to fit financial lessons in a busy schedule. Money Girl discusses a wide range of tips, from more serious issues such as protecting your money in a divorce to fun topics, such as choosing a wardrobe on a budget.</p> <h2>3. Chris Hogan's Retire Inspired</h2> <p>Hogan just started his <a href="https://itunes.apple.com/us/podcast/chris-hogans-retire-inspired/id1117556964?mt=2">Retire Inspired</a> podcast in June 2016, but <a href="http://amzn.to/2dsV5pF">his book of the same name</a> is a best-seller. His advice for retirement is not just for those close to retirement. Hogan talks to Millennials and those on the edge of retirement simultaneously. Listen to this podcast for retirement and saving and financial motivation, but don't expect in-depth strategies for investing or 401K advice.</p> <h2>4. Radical Personal Finance</h2> <p>If you feel like you have already heard it all when it comes to personal finance advice, then <a href="https://itunes.apple.com/us/podcast/radical-personal-finance-financial/id896153632?mt=2">Radical Personal Finance</a> is one podcast to listen to. Host Joshua J. Sheats tackles very interesting and off-the-wall finance topics that are just fascinating. Some notable show titles include, &quot;Tips to Hitchhike Europe (or Anywhere) on $40 a Week&quot; and &quot;Investing in Rare Coins With Numismatic Value.&quot; Sheats also has podcasts on every day finance topics too, including a recent show titled, &quot;The Recovering Spender: How to Live a Happy, Fulfilled, Debt-Free Life.&quot;</p> <h2>5. The Clark Howard Podcast</h2> <p><a href="https://itunes.apple.com/us/podcast/the-clark-howard-podcast/id207724573?ign-mpt=uo%3D8">Clark Howard</a> is a household name when it comes to personal finance. His podcasts are all over an hour but are packed with financial news and advice on how to save money and avoid scams and being ripped off.</p> <h2>6. Listen Money Matters</h2> <p><a href="https://www.listenmoneymatters.com/show/">Listen Money Matters</a> (LMM) is a podcast for both those new to money management, as well as more seasoned investors. The podcast focuses on four main areas: budgeting, investing, getting out of debt, and growing your income. The practical advice spans from podcasts like, &quot;How to Prioritize Your Financial Goals,&quot; which is useful to everyone, to &quot;How to Calculate Your Rental Yield,&quot; which is important for those who want to profit in real estate.</p> <h2>7. Smart Passive Income</h2> <p>Pat Flynn from <a href="http://www.smartpassiveincome.com/podcasts/">Smart Passive Income</a> is a must-listen for individuals interested in growing passive streams of income in their lives. Flynn also has a lot of influence, which means he has a lot of interesting guests and interviews on the show. He has interviewed Tim Ferris, Michael Hyatt, Chalene Johnson, and Ramit Sethi. It is a fun listen, even if passive income is not your first passion in life.</p> <h2>8. You Need a Budget Podcast</h2> <p>The creators of the <a href="http://www.youneedabudget.com/">You Need a Budget (YNAB)</a> financial software have a weekly podcast that discusses debt, saving money, and getting out of the paycheck to paycheck cycle. Topics include reasons to pay cash for your next house and whether you should outsource your finances.</p> <h2>9. The Investors Podcast</h2> <p>The tagline of <a href="https://www.theinvestorspodcast.com/">The Investor Podcast</a> is, &quot;We study billionaires.&quot; If that doesn't grab your attention right away, I don't know what will. The podcast studies the habits and books billionaires read and breaks them down for listeners. The podcast also includes fascinating interviews, like the recent one that interviewed billionaire investor, Carl Icahn's friend, Mr. Mark Stevens.</p> <h2>10. Mad Fientist</h2> <p><a href="http://www.madfientist.com/podcast/">Mad Fientist</a> considers themselves a financial independence podcast that covers early retirement, investing, real estate, and entrepreneurship. Unlike many of the other podcasts, this podcast is not just one voice/person giving financial advice. Instead, this podcast is all interviews of some of the top experts in personal finance, including Nick Loper, J. Money, and JD Roth.</p> <p>Don't be overwhelmed by all of the amazing choices of podcasts. Subscribe to a handful of them, find out which ones are your favorite, and only listen to shows that are directed toward your unique situation.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-eneriz">Ashley Eneriz</a> of <a href="http://www.wisebread.com/these-10-money-podcasts-will-help-you-save-tons">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">6 Inspiring Quotes About Money From Successful Women</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-best-money-saving-channels-on-youtube">9 Best Money Saving Channels on YouTube</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-an-olympian-to-master-your-money">How to Think Like an Olympian to Master Your Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-celebrities-with-shockingly-low-net-worths">6 Celebrities With Shockingly Low Net Worths</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Entertainment advice inspiration listening money podcasts technology Mon, 10 Oct 2016 10:00:08 +0000 Ashley Eneriz 1808266 at http://www.wisebread.com How to Get Your Finances Back on Track After Losing Everything http://www.wisebread.com/how-to-get-your-finances-back-on-track-after-losing-everything <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-get-your-finances-back-on-track-after-losing-everything" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/father_daughter_kitchen_83167945.jpg" alt="Man getting his finances back on track after losing everything" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Losing your job, your house, your car, or your bank account can shake your confidence and leave you feeling helpless. But the best thing you can do when you hit rock bottom is dust yourself off and put the pieces back together again. While bouncing back after financial loss may seem impossible, there are several strategies you can use to get your finances back on track.</p> <h2>1. Assess the Situation</h2> <p>Some financial setbacks occur because of situations beyond your control, like losing a job because your employer had to reduce expenses, or incurring massive medical debt after a serious illness. But even when you have limited control, you should assess the circumstances that led to your downfall and figure out what you did wrong, or what you could have done differently to avoid the experience.</p> <p>Maybe the setback was caused by poor financial choices, such as buying more house than you could afford, which then led to losing the home. Or maybe shopping became your therapy, and rather than save, you blew your income on &quot;stuff&quot; and never built an emergency fund for the unexpected.</p> <p>If you can narrow down what contributed to the mishap, you can come up with a plan to dig yourself out of the hole and avoid repeating the past.</p> <h2>2. Change Your Attitude</h2> <p>Attitude is everything in these types of situations. After losing everything, getting out of bed every morning can be a struggle. And depending on the gravity of the setback, a comeback can feel like an unrealistic dream. But to get your finances back on track, you have to change your attitude and believe there's light at the end of the tunnel.</p> <p>If you make excuses or think you're destined to fail, this can become a self-fulfilling prophecy wherein you never reverse the situation.</p> <h2>3. Adjust Your Budget</h2> <p>It takes income to bounce back from a financial disaster. If you've lost everything, chances are you're working with minimum income. You have an uphill battle ahead of you. But if you prioritize spending, save more, and look for ways to generate additional income, you can begin the road to recovery. (See also: <a href="http://www.wisebread.com/build-a-better-budget-in-5-minutes-flat?ref=seealso">Build a Budget in Five Minutes Flat</a>)</p> <p>Take a look at your budget to make sure you're spending less than you're earning. You need to keep expenses as low as possible, which frees up cash for paying down debt and building an emergency cash reserve. Although there's nothing fun about losing a home or a car, you can turn this tragedy into something positive. You need a roof over your head and transportation, but rather than jump into another housing or car payment prematurely, see if you can rent a room from family or friends. This will probably be cheaper than getting your own place. And if you use public transportation, you'll save on auto insurance, personal property taxes, and gasoline.</p> <p>You also can boost your income with a part-time job, or sell stuff to generate disposable income. The money earned might not be a lot at first, but it can jump-start your savings account and help pay off debt and past due accounts.</p> <h2>4. Get a Financial Mentor</h2> <p>Some people experience a financial downfall because they don't know the fundamentals of managing their personal finances. In this case, education is how you bounce back and make smarter decisions moving forward.</p> <p>The good news is that you don't have to spend money on a personal finance course to learn the basics. There are plenty of resources at your fingertips including reputable financial blogs and websites that cover various aspects of personal finance from saving money to debt management. Working with a financial adviser is also helpful because these professionals can guide you through a financial hardship.</p> <p>If you never learn the right and wrong ways to manage your money, you'll keep making the same mistakes over and over again.</p> <h2>5. Set Realistic Goals</h2> <p>Naturally, you want to rebound as quickly as possible and regain what you've lost, but you have to be realistic and patient. By setting unrealistic goals, you're ultimately setting yourself up for failure.</p> <p>After a foreclosure, your plans might include purchasing another home after 12 months. But considering how you'll need to improve your credit score and save money for a down payment, your expectations could be unrealistic, and if you don't attain this goal, you could become discouraged and lose focus. If you take your time and establish a more realistic time frame for buying another home &mdash; perhaps two or three years &mdash; you're likely to achieve this goal.</p> <h2>6. Don't Give Up</h2> <p>No plan is perfect, so even with a solid strategy for bouncing back, you could hit a few roadblocks along the way. The worst thing you can do is give up. Stumbling blocks will happen, and it's not the number of setbacks that matter but rather the number of times you pick yourself up. If you can rebound from every setback, you'll eventually win and reverse the situation.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/how-to-get-your-finances-back-on-track-after-losing-everything">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-financial-basics-every-new-grad-should-know">The Financial Basics Every New Grad Should Know</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-money-moves-to-make-before-the-leaves-change">10 Money Moves to Make Before the Leaves Change</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-personal-finance-skills-everyone-should-master">12 Personal Finance Skills Everyone Should Master</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance advice budgeting disaster inspiration losing everything loss mentor positivity rebuilding rock bottom tragedy Fri, 07 Oct 2016 10:30:12 +0000 Mikey Rox 1806464 at http://www.wisebread.com Create a Reverse Bucket List to Improve Your Money Management http://www.wisebread.com/create-a-reverse-bucket-list-to-improve-your-money-management <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/create-a-reverse-bucket-list-to-improve-your-money-management" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_notebook_thinking_73069659.jpg" alt="Woman creating reverse bucket list for money management" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Having financial goals is a wonderful thing. And having lofty ones is even better, because it pushes you to see exactly what you can do &mdash; maybe even more than you'd ever thought possible with your money.</p> <p>But, some days, having goals is just plain frustrating. When you're always looking at where you haven't gotten to yet or what you haven't yet achieved, it's easy to feel like you'll never get there, or like you aren't good enough. You might begin to wonder what the point of these goals is, anyway.</p> <p>That's where the reverse bucket list comes in.</p> <h2>Make a Reverse Bucket List</h2> <p>When it comes to your finances, a reverse bucket list is simply a list of things you've already accomplished financially, or a list of goals you've already met.</p> <p>My husband and I tried this recently. On our list, we put things like buying a house, getting away to Cancun last year, not taking on more debt despite several major expenses this year, and paying off my student loan.</p> <p>Some of these things &mdash; like buying a house &mdash; were things that we had made into goals. They were things we wanted to do, things we saved to do, and things we accomplished over time. Others weren't explicit goals, like not taking on more debt. But we added them because they felt like financial accomplishments to us.</p> <p>Take some time to make your list. Some items &mdash; like, for us, paying off the student loans &mdash; might be things that you accomplished years ago, so they may not be in the forefront of your mind. Give yourself a day or two to think over your list, coming back to add things when you remember them.</p> <h2>The Reverse Bucket List and Positivity</h2> <p>The first thing that we felt, when we looked over our final list, was an overwhelming sense of positivity. We have been discouraged lately. This year seems to have been one surprise attack after another when it comes to our money, and it's frustrating to work harder than ever only to see the balances go down.</p> <p>When we looked at our list, though, we started to feel better about ourselves and the way we're living. We are still people who can make good financial decisions, as evidenced by the number of things we've accomplished in that realm. In fact, it's those decisions that put us where we are now &mdash; without any new debt &mdash; even though life hasn't cooperated recently.</p> <p>Looking at our list has also made us feel more positive about continuing to pursue the financial goals we haven't met yet, even though we feel like our most recent progress has been negative. For each item on the list, we can remember the moment where it happened, where we felt proud and happy, and that motivates us to keep putting one foot ahead of the other.</p> <p>Making this list definitely raised our motivation levels and helped us look at our situation realistically. Setbacks happen. They aren't necessarily a commentary on us or our intelligence or our financial prowess. And now, we feel like moving forward again.</p> <h2>Understanding Your Finances Through the Reverse Bucket List</h2> <p>Looking at our reverse bucket list also helped us find some patterns in our spending and saving that will help us as we move forward.</p> <p>For instance, the closer I get to a goal, the more likely I am to pursue it wholeheartedly. When we were just about able to pay off my student loans, I stopped buying everything that wasn't extra. I could see victory, I could taste it, and I wanted it!</p> <p>On the other hand, when I'm not anywhere near meeting any goals, I tend to spend a lot more haphazardly. If I feel like I will never get there, or I feel like we are just going to encounter another setback anyway, I figure I might as well buy what I want while I have the money in my hands.</p> <p>Moving forward, we are planning to structure our goals differently, making them tiered rather than all-or-nothing. That way, I can always feel like I'm just about to achieve something, so I won't be as tempted to spend in any given moment.</p> <h2>Find What Motivates You</h2> <p>When we thought about our list, we also noticed that we are highly motivated by travel. When we saved for travel, we were able to save quickly, simply because we both really love to get on a plane and see somewhere new.</p> <p>Now, when you have a mortgage and other student loans like we do, you can't just make all of your goals about traveling. But we realized that staggering our goals so that travel goals are included in every two or three things we save for would help us.</p> <p>For instance, when we pay off my husband's student loans, we are planning a trip to New Zealand. We know that we can take that trip as soon as these other goals are met. Even if it takes us several years, we will feel more motivated knowing that the travel goal is coming up, even if the gratification isn't immediate.</p> <p>A financial reverse bucket list won't solve all of your problems, but it certainly might make you feel better about your money situation and help you figure out how to structure your goals so they best suit you.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="http://www.wisebread.com/create-a-reverse-bucket-list-to-improve-your-money-management">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-8"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-an-olympian-to-master-your-money">How to Think Like an Olympian to Master Your Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/welcome-to-the-real-world-my-best-advice-for-new-graduates">Welcome to the Real World - My Best Advice for New Graduates</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/ow-do-you-deal-with-family-members-who-are-bad-at-managing-money">How Do You Deal With Family Members Who Are Bad At Managing Money?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/reach-your-money-goals-faster-with-a-simple-naming-trick">Reach Your Money Goals Faster With a Simple Naming Trick</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance General Tips accomplishments advice goals inspiration motivation positive thinking psychology reverse bucket list Wed, 14 Sep 2016 09:00:07 +0000 Sarah Winfrey 1792247 at http://www.wisebread.com 6 Money Lessons We Could All Learn From Dwayne "The Rock" Johnson http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/dwayne_johnson_000018755909.jpg" alt="Learning money lessons from The Rock" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Whatever Dwayne &quot;The Rock&quot; Johnson is cooking, you better get a hold of his recipe for success! According to Forbes' list of the world's highest-paid celebrities, Johnson earned a cool <a href="http://www.forbes.com/profile/dwayne-johnson/">$64.5 million in 2016</a>, more than double of what he earned the previous year ($31.5 million).</p> <p>He came from very humble beginnings, hustled his way through professional wrestling, and developed a successful career in the entertainment industry. The Rock never took himself too seriously (remember his role as thug Elliot on <a href="https://youtu.be/y2trL80lJPQ">Be Cool</a>?), and is still quite humble. Here are the six money lessons we could all learn from Dwayne &quot;The Rock&quot; Johnson.</p> <h2>Don't Put All Your Eggs in One Basket</h2> <p>This is one of the most well-known investing maxims. Johnson is a true believer on this mantra and he has diversified his sources of income, including wrestling, acting, and producing a number of reality shows and the HBO series <em>Ballers</em>. While the bulk of his net worth (estimated to be somewhere between <a href="http://okmagazine.com/photos/dwayne-the-rock-johnson-by-the-numbers-his-nine-figure-net-worth-and-more/photo/1001096506/">$150 millio</a>n and <a href="http://www.celebritynetworth.com/richest-athletes/wrestlers/the-rock-net-worth/">$190 million</a>) comes from his movie roles, Johnson still applies the don't-put-all-your-eggs-in-one-basket concept by working in more roles than his fellow actors.</p> <p>And this strategy has rewarded him handsomely. In 2013, actor Robert Downey Jr. was the king of the box office for his role as Tony Stark in the film <em>Iron Man 3</em>, which earned $1.2 billion worldwide. However, The Rock was able to earn $100 million more than Downey Jr. by working in more movie roles. While Downey Jr. only worked on <em>Iron Man 3</em>, Johnson worked on four movies, including <em>Fast &amp; Furious 6</em> and <em>G.I. Joe: Retaliation</em>. &quot;Success isn't always about greatness. It's about consistency. Consistent hard work leads to success. Greatness will come,&quot; says Johnson.</p> <h3>Money Lesson #1: Get a Side Gig</h3> <p>&quot;I never wanted to stay in one genre; I never wanted to be pigeonholed or defined as the actor who only worked in one genre,&quot; claims Johnson. Just like him, capitalize on your other talents and participate in the &quot;gig economy&quot; to get some extra cash on top of your regular salary. From driving with Uber to online tutoring to assembling furniture, you have a wide range of options to choose from. Who knows, if you're able to make more for doing what you truly love, you'll might even be able to bid goodbye to the good old 9-to-5 and long-commute! (See also: <a href="http://www.wisebread.com/13-ways-to-make-money-online-that-arent-scams?ref=seealso">13 Ways to Make Money Online That Aren't Scams</a>)</p> <h3>Money Lesson #2: Diversify Your Investments</h3> <p>Like Johnson, generate multiplies streams of income to hedge against the risk of one of them drying up. By using different kinds of investments, you'll achieve, on average, higher returns and lower risk than any individual investment found within the portfolio. While socking away in a savings account is a source of guaranteed income, it'll never allow you to reach your financial goals. So, you need to invest in stocks. Still, don't put all of it on stocks: Experts suggest young savers allocate 10% to bonds and 90% to stocks.</p> <h2>Set Up Sources of Passive Income</h2> <p>While Johnson is able to command up to $20 million for a movie role, his most impressive source of income is his bonus and royalty contract with the World Wresting Entertainment (WWE). In 2016, wrestler John Cena is without a doubt the star of the WWE, with a star caliber <a href="http://www.totalsportek.com/money/wwe-wrestlers-salaries/">$2.75 million five-year contract</a>, including 7% on merchandise sales and hefty share of Pay-Per-View earnings.</p> <p>However, Cena has to make extensive appearances and really work for that paycheck. On the other hand, Johnson has a $3.5 million contract that only requires him to appear on selected WWE dates and earns a 7% bonus for high merchandise sales. Between 2014 and 2015, he only appeared a handful of times at WWE events. Show up, raise an eyebrow, drop a &quot;People's Elbow,&quot; and get paid a couple hundred thousand dollars (before bonuses!). Not a bad deal, at all.</p> <h3>Money Lesson #3: Negotiate More Than Just Salary</h3> <p>Like The Rock, don't just focus on salary when negotiating your employment contract. Think about other ways that you can get paid extra for the same amount of work. Some examples to consider are:</p> <ul> <li>A bump in your employee match to your retirement account;</li> <li>A subsidy to your commuting expenses;</li> <li>A reduction in your health plan monthly fees;</li> <li>A refund on professional fees or certifications; or</li> <li>A bonus in company shares.</li> </ul> <h3>Money Lesson #4: Consider Income-Focused Investments</h3> <p>While The Rock isn't sure whether or not he'll be able to secure $20 million for his next acting role for the big screen, he can always count on that $3.5 million paycheck from the WWE. Having a secure stream of income is key for better budgeting. It's great to invest your money in equities, but it's even better to have a portion in stocks that pay dividends on a regular basis. Whether you're closer to retirement and need to focus on income, or just need to stabilize your portfolio, look for <a href="http://www.wisebread.com/stabilize-your-portfolio-with-these-11-dividend-stocks">dividend stocks</a> or <a href="http://www.wisebread.com/10-top-mutual-funds-for-income-investors">low-fee mutual funds</a> focusing on income.</p> <h2>Protect the Engine That Powers You</h2> <p>From being evicted from his home during his childhood, to having several run-ins with the law during his adolescence, to only having seven bucks to his name at the end of his football career, Johnson admits that he has had a messy life. So, how was he able to turn things around and achieve success? Johnson admits that the best advice he ever got was &quot;Around every corner always protect the engine that powers you.&quot;</p> <p>For Johnson, his support team consists of his mom Ata Johnson, his girlfriend Lauren Hashian, his ex-wife Dany Garcia, and his ex-wife's husband Dave Rienzi. While the first two make perfect sense, the latter two could leave you scratching your head. Turns out that Johnson and Garcia are co-founders of 7 Bucks Productions (named after the $7 that Johnson had left after his football career, the company is in charge of managing his projects) and Rienzi is Johnson's conditioning and strength coach. &quot;I'm happy to say we're all together working nicely, but it took a lot of work. With Danny, it was going through the sludge of divorce and then having the clarity to say, 'We're still friends, we respect each other, let's do business. And let's do big business,'&quot; says Johnson about his support team.</p> <h3>Money Lesson #5: Buy Life Insurance</h3> <p>When you're the main breadwinner of your household like Johnson, you have to establish a rock-solid plan in case you pass away or are no longer able to provide for your loved ones. Nobody likes to think about their own mortality but you need to realize that right now is when your life insurance is at its cheapest. If you're covering the biggest portion or all of the monthly mortgage payment, who will cover those moneys in your absence? Are you comfortable with the idea that your retired parents or that your children have to take over a debt? That's why you need to protect the &quot;engine&quot; that powers you.</p> <h3>Money Lesson #6: Listen to More Professionals</h3> <p>From executing a will to preparing the taxes of your small business to pulling out a tree, there are many times that you're better off hiring a professional. Not only will you get the job done right, but you'll also &mdash; and more importantly &mdash; prevent any financial damage. Just like in the case of The Rock, you'll have to cede control to somebody who you may not necessarily be too happy with but does an outstanding job, anyway. Two places that you can start with are your investment account and your retirement account. Depending on your accounts, you may already be paying or have access to a financial professional. (See also: <a href="http://www.wisebread.com/who-to-hire-a-financial-planner-or-a-financial-adviser?ref=seealso">Who to Hire: A Financial Planner or a Financial Adviser?</a>)</p> <p><em>What are other money lessons you've learned from Dwayne &quot;The Rock&quot; Johnson?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">6 Inspiring Quotes About Money From Successful Women</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-38-money-lessons-we-can-learn-from-celebrities">Flashback Friday: 38 Money Lessons We Can Learn From Celebrities</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-can-learn-from-gilmore-girls">6 Money Lessons We Can Learn From &quot;Gilmore Girls&quot;</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-things-i-learned-about-money-after-getting-married">8 Things I Learned About Money After Getting Married</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Entertainment Lifestyle advice celebrities dwayne johnson inspiration money lessons net worth role models the rock Tue, 16 Aug 2016 09:00:05 +0000 Damian Davila 1773240 at http://www.wisebread.com How to Think Like an Olympian to Master Your Money http://www.wisebread.com/how-to-think-like-an-olympian-to-master-your-money <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-think-like-an-olympian-to-master-your-money" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/olympic_runners_athletes_79121499.jpg" alt="Olympic athletes learning how to master their money" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You may not think you have much in common with an Olympian, but when you put these world-class athletes' level of commitment, perseverance, and practice in the context of your own finances, you might be surprised at just how alike you are &mdash; or, at least, how alike you can be.</p> <p>Start looking at the bigger picture and keep your eye on the prize with these ways to think like an Olympian and master your money.</p> <h2>1. Commit to a Goal &mdash; Or Goals</h2> <p>The ultimate goal of an Olympian is to take home the coveted gold medal in their discipline. Your goals, with regards to your money, may vary. Perhaps you want to pay off your consumer debts or school loans, establish a sizable emergency fund, or start making investments. Whatever it may be, you have to set your sights and focus on achieving that goal by contributing to it as best you can. An important part of that process is holding yourself accountable by tracking your spending and saving habits and monitoring progress toward your ultimate goal &mdash; and that often starts with budgeting.</p> <p>&quot;Olympians set goals &mdash; ranging from hitting a turn better in swim practice to winning a medal &mdash; and then devising a training program around the goals,&quot; offers Kevin Gallegos, vice president of Freedom Financial Network in Phoenix. &quot;In personal finance, the idea is to look at what you want to do in life, set goals, and then put together a budget that will help you achieve those goals. Along the way, you may need to modify the goals or the 'training program' that gets you there &mdash; just as an Olympian would.&quot;</p> <h2>2. Put Those Goals in Places of Visibility</h2> <p>Keep track of your goals and put them in places of visibility. Whether it's a dream board with your endgame (i.e. a gold medal) or a cheat sheet of stats, many Olympians visualize the end in mind.</p> <p>Personal finance expert and blogger Cherie Lowe did just when she and her husband committed to paying off $127,000 in debt.</p> <p>&quot;While we were paying off debt, a running tally hung on our refrigerator (four years later, it's still there), reminding us where we've been and where we were headed at the time,&quot; she says.</p> <p>This strategy can work for you, too. Monitoring your progress &mdash; so you can visually assess your small successes &mdash; will provide the stamina and drive you'll need to make it through the long haul.</p> <h2>3. Recognize the Necessary Sacrifices</h2> <p>Nobody likes to make sacrifices &mdash; least of all Olympians who need to stay on the straight-and-narrow if they're to be the best of the best (so long, junk food and booze!). But if you're in a financial pickle, sacrifices are likely in order.</p> <p>These sacrifices will depend on your lifestyle. I don't know what your personal vices are, but when you identify these monetary distractions, it's wise to devise a plan to nip them in the bud, or at least lay off them as you get your situation under control. You won't get very far in achieving your goals if you're constantly sidetracked or diverted by these things that expressly prevent you from your own success. You'll soon realize they're not worth the negative impact they have on you, and you may even feel better than you thought you would without them.</p> <h2>4. Practice, Practice, Practice</h2> <p>Athletes show up to practice every day and continue to perfect their skill. This is according to four-time real-life Olympian Lauryn Williams, who has started a financial planning firm that serves professional athletes and young professionals.</p> <p>&quot;Practice is about working on your weaknesses until they become skills,&quot; she says. &quot;Saving may be something you don't do well, but you show up and practice and sometimes you save a little and others times you save a lot, but to create the habit of saving you must consistently practice it.&quot;</p> <p>Money-saving expert Andrea Woroch echoes that sentiment.</p> <p>&quot;As the popular saying goes, 'practice makes perfect,' and this applies to both athletes striving to be the top talents in their sport and individuals who want to effectively manage their finances,&quot; she says. &quot;Tasks like investing and saving money take practice; proficiency in these areas is not achieved overnight and requires the same tireless pursuit employed by Olympians seeking gold in the games. Do the same thing everyday as it relates to your money, whether that's reviewing your bank and credit card statements or tracking your goal. And when you perfect your process, keep going and never stop.&quot;</p> <h2>5. Show Up Every Day &mdash; Whether You Want to or Not</h2> <p>No matter how tired you are, or beat down, or how woe-is-me you're feeling about your finances, keep pushing every day. Olympians don't skip the gym. They pay attention to their training daily. In the same way, if you're reaching for a financial goal you have to be willing to show up and put in the hard work, even when you don't feel like it. This means balancing the checkbook, working extra hours, and being an active participant in your money goals.</p> <h2>6. Overcome Setbacks</h2> <p>In your pursuit of sound money-management, there will always be setbacks, whether it's a drop in the market or an impulse buy made in a moment of weakness. But you will bounce back &mdash; and you'll be better for it.</p> <p>Let's use a self-imposed moratorium on clothes shopping as an example. You want to commit to your savings goals full force, and eliminating clothing purchases (or at least for a while) are necessary to achieve that goal. Alas, sometimes life gets in the way, but that doesn't mean that all your hard work to this point has to go up in flames.</p> <p>&quot;When you're trying to cut back on spending, but back-to-school season is demanding your funds, for instance, download apps like <a href="http://shopsavvy.com/">ShopSavvy</a> to compare prices or Coupon Sherpa for such in-store savings as $10 off $40 or more with a <a href="http://www.couponsherpa.com/kohls/">Kohl's coupon</a>,&quot; Woroch says. &quot;Recovering from these mishaps quickly and continuing to practice good financial habits is key to your ultimate success.&quot;</p> <h2>7. Cultivate Self-Discipline</h2> <p>Reaching that podium as a medalist isn't a cakewalk for an Olympian, and neither will be achieving your financial goals. Which is why self-discipline is required, especially if you're going this alone.</p> <p>&quot;It takes discipline to train for hours every day leading up to the Olympic Games and it takes this same kind of strong will to reach your financial goals,&quot; says Woroch. &quot;After all, it's much more fun to spend money on vacations and the latest gadget than it is to put money toward your savings goal or debt payoff plan. Having the control to forgo wants and focus only on your needs is a challenge, but it's a worthwhile pursuit, whether you're striving for gold or financial freedom.&quot;</p> <h2>8. Strive for Consistency</h2> <p>Consistency is key if you want to achieve any kind of goal, whether it's related to fitness or finances. Olympians must be consistent with their training, both mental and physical, to qualify for the games and compete with other top athletes in their sport. Similarly, consumers must be consistent with their savings goals and spending behaviors to stay on track financially. Digital tools like <a href="https://www.mint.com/">Mint</a> can help you track your spending and keep an eye on your investment portfolio, while the<a href="https://digit.co/"> Digit app</a> automates savings and transfers unused funds from your checking account to your savings account.</p> <h2>9. Stay Positive</h2> <p>There will be days along this journey that you'll want to give up, throw in the towel, close the blinds and hide under the covers. We all get that way sometimes, but it's true what they say &mdash; only the strong will survive. Stay focused and maintain a positive outlook, and you'll come out the other end victorious, just like a U.S. Olympian.</p> <p>Woroch notes, &quot;To compete, Olympians must remain positive through arduous training and in the face of fierce competition. It's easy to feel defeated both as an athlete and as someone pursuing a financial goal. However, positivity can help you endure the low moments and keep your sights set on your goal. This is especially true when the stock market drops and your net worth suddenly takes a dive along with it.&quot;</p> <p><em>Are you an Olympian when it comes to your finances?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/how-to-think-like-an-olympian-to-master-your-money">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-inspiring-quotes-about-money-from-successful-women">6 Inspiring Quotes About Money From Successful Women</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/create-a-reverse-bucket-list-to-improve-your-money-management">Create a Reverse Bucket List to Improve Your Money Management</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/ow-do-you-deal-with-family-members-who-are-bad-at-managing-money">How Do You Deal With Family Members Who Are Bad At Managing Money?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-3-best-pieces-of-financial-wisdom-from-oprah-winfrey">The 3 Best Pieces of Financial Wisdom From Oprah Winfrey</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance advice commitment discipline goals inspiration money olympics Paying Off Debt working hard Mon, 08 Aug 2016 10:00:12 +0000 Mikey Rox 1767117 at http://www.wisebread.com The Top 7 Blogs for Entrepreneurs http://www.wisebread.com/the-top-7-blogs-for-entrepreneurs <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-top-7-blogs-for-entrepreneurs" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_coffee_shop_000079380831.jpg" alt="Woman reading best blogs for entrepreneurs" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Time is money. Nobody understands that better than U.S entrepreneurs and business owners. When asked on Reddit about the most painful problems they face on a day-to-day basis, most business owners complained about time &mdash; time to meet deadlines at a neck-breaking pace, time to collect payments from clients, time to keep the company books up to date.</p> <p>Still, entrepreneurs and business owners know the importance of keeping up with the latest developments in entrepreneurship and learning from successful business leaders. For those that can't afford sitting down to read an entire book, here are the seven best blogs for entrepreneurs.</p> <h2>1. Seth's Blog</h2> <p>Efficient and effective are the best words to describe the blog posts from marketing expert Seth Godin. He has authored several bestsellers on marketing, such as <a href="http://www.amazon.com/gp/product/0684856360/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0684856360&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=WXHTSPV7ZMULTXRA">Permission Marketing</a> and <a href="http://www.amazon.com/gp/product/1591843170/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1591843170&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=S77KRX62DUNYSA3C">Purple Cow</a>, and on entrepreneurship, such as <a href="http://www.amazon.com/gp/product/B001FA0LAI/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=B001FA0LAI&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=BZOKCESTJLA7JT2P">Tribes</a> and <a href="http://www.amazon.com/gp/product/1591846072/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1591846072&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=OCBV4XHWH3SZU5BX">The Icarus Deception</a>.</p> <p>At <a href="http://sethgodin.typepad.com">Seth's Blog</a>, you can find tips on many business topics, including how to create additional revenue streams from freelancing, why it's important to maintain high quality at all times, and how to purchase advertising. Most of Godin's posts take less than five minutes to read, but they are guaranteed to get you thinking about key issues in entrepreneurship.</p> <h2>2. Occam's Razor</h2> <p>In his book <a href="http://www.amazon.com/gp/product/0470130652/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0470130652&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=XBJ67YJCGANGKXDI">Web Analytics: An Hour a Day</a>, Avinash Kaushik provides a step-by-step guide on successful web analytics strategy for your business website. And as search engines tweak their search algorithms on a rolling basis and emerging social media companies rule the Internet, some data and processes require constant revision.</p> <p>At the <a href="http://www.kaushik.net">Occam's Razor blog</a>, Kaushik provides analysis of important web analytics and digital marketing topics for entrepreneurs, such as how to use social media as a business. Unlike other bloggers, Kaushik backs up all his claims with actual data (he's a self-professed &quot;web analytics ninja,&quot; after all!), utilizes plenty of screenshots (particularly useful for users of Google Analytics), and provides actionable takeaways. (See also:&nbsp;<a href="http://www.wisebread.com/5-easy-ways-to-make-extra-money-blogging">5 Easy Ways to Make Extra Money Blogging</a>)</p> <h2>3. Guy Kawasaki's Blog</h2> <p>Known as the father of evangelism marketing for his work with Apple in the early '80s, Guy Kawasaki is a prolific businessman and author. With 1.69 million followers on LinkedIn and 1.46 million followers on Twitter, Kawasaki is a thought leader in entrepreneurship, marketing, and PR.</p> <p>While <a href="http://guykawasaki.com/blog">Kawasaki's blog</a> skews a bit towards tech startups, his writing is still applicable to other industries. For example, he provides insights on the<a href="http://guykawasaki.com/how-to-launch-and-why-scaling-doesnt-matter/"> importance of scale in business</a>, guidelines on how to <a href="http://guykawasaki.com/the-art-of-the-panel/">excel at a conference panel</a>, and tips for <a href="http://guykawasaki.com/ten-easy-ways-to-make-your-pitch-rock/">making your pitch rock</a>.</p> <h2>4. 500 Hats</h2> <p>A member of the famous &quot;PayPal Mafia&quot; (he was the Director of Marketing at PayPal from 2001 to 2004), Dave McClure is a prominent entrepreneur and angel investor. McClure knows his stuff and helps run a fund that makes investments ranging from $50,000 to $500,000 in startups. At his blog <a href="https://500hats.com/">500 Hats</a> (one of the most-read blogs by venture capitalists, according to the Wall Street Journal), he provides an inside view into the world of venture capitalism and angel investing.</p> <p>For those looking to launch or optimize their startup, developing a good understanding of what investors are looking for in a startup is essential for survival. Startup owners can learn what makes investors tick at McClure's current and previous blog (<a href="http://500hats.typepad.com">Master of 500 Hats</a>).</p> <h2>5. Gary Vaynerchuk's Blog</h2> <p>Owners of family businesses will find <a href="http://www.garyvaynerchuk.com/blog/">Gary Vaynerchuk</a> to be an inspiration. In just five years, he took his family wine business from a respectable $3 million revenue operation to a $60 million revenue powerhouse.</p> <p>Vaynerchuk is a big fan of no-nonsense advice and his blog is proof of that. Every single one of his posts provides an estimate of how long it will take you to read it (most reads are under four minutes). In addition of his blog, check out his <a href="https://www.youtube.com/playlist?list=PLfA33-E9P7FC0AoARnMLvgFgESJe4_Ngs">#AskGaryVeeShow</a> on YouTube in which he answers questions about marketing, social media, and entrepreneurship submitted via Twitter.</p> <h2>6. Kabbage Small Business Blog</h2> <p>When you're a small business owner, you have a lot of questions. A great place for finding the answer to many of those questions is the Kabbage <a href="http://www.kabbage.com/blog/">Small Business Blog</a>. <em>(Disclaimer: Until December 2015, I contributed to this blog.)</em> What makes this blog stand out from others is that it caters to minority small business owners, offering advice on finding funding options and providing success stories from peers.</p> <p>From determining when you have enough money to <a href="https://www.kabbage.com/blog/do-you-have-enough-money-to-hire-your-first-employee/">hire your first employee</a>, to how to <a href="https://www.kabbage.com/blog/webinar/3-steps-to-improve-your-business-credit-report-establish-build-monitor/">improve your business credit score</a>, to where to find <a href="http://www.kabbage.com/blog/11-grants-for-women-owned-businesses-you-need-to-know-about/">grants for women-owned businesses</a>, the Small Business Blog covers a wide variety of topics relevant to small business owners of all backgrounds.</p> <h2>7. Brian Solis</h2> <p>A digital analyst, anthropologist, and futurist, Brian Solis keeps an eye on the latest technological developments and their effects on business and marketing. Solis constantly seeks ways that businesses can leverage technology to improve the customer experience.</p> <p>On the <a href="http://www.briansolis.com/#">Brian Solis blog</a>, you will find tips on how to deliver a better customer service experience, such as to stop <a href="http://www.briansolis.com/2015/02/deliver-great-customer-experience-stop-focusing-customer/">making unsupported assumptions</a> about your customers and to deliver a <a href="http://www.briansolis.com/2015/07/creating-truly-personal-omni-channel-customer-experiences-2/">consistent customer experience</a> across all channels. This is key because, after all, without customers you won't have a business.</p> <p><em>What are your favorite blogs on entrepreneurship?</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fthe-top-7-blogs-for-entrepreneurs&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FThe%2520Top%25207%2520Blogs%2520for%2520Entrepreneurs.jpg&amp;description=The%20Top%207%20Blogs%20for%20Entrepreneurs"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/The%20Top%207%20Blogs%20for%20Entrepreneurs.jpg" alt="The Top 7 Blogs for Entrepreneurs" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/the-top-7-blogs-for-entrepreneurs">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-8-best-books-for-entrepreneurs">The 8 Best Books for Entrepreneurs</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-beloved-books-of-successful-millionaires">10 Beloved Books of Successful Millionaires</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-only-money-advice-youll-actually-listen-to">The Only Money Advice You&#039;ll Actually Listen To</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-signs-its-time-to-close-your-business">5 Signs It&#039;s Time to Close Your Business</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-life-skills-every-freelancer-needs">8 Life Skills Every Freelancer Needs</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship blogs books inspiration small businesses time management Wed, 06 Jan 2016 14:00:04 +0000 Damian Davila 1630354 at http://www.wisebread.com The 8 Best Books for Entrepreneurs http://www.wisebread.com/the-8-best-books-for-entrepreneurs <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-8-best-books-for-entrepreneurs" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_reading_books_000047674572.jpg" alt="Woman reading best books for entrepreneurs" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>America is truly the land of opportunity.</p> <p>According to a study sponsored by Babson College and Baruch College, the U.S. now has <a href="http://www.inc.com/leigh-buchanan/us-entrepreneurship-reaches-record-highs.html">27 million entrepreneurs</a> (about 14% of the total population). And many of these American entrepreneurs are thriving &mdash; 24% of them expect to employ 20 or more people in the next five years.</p> <p>If you want to learn the ropes of entrepreneurialism, real-life experience is your best bet, but reading on the subject can also provide you with essential insights necessary for success. Whether you're an aspiring entrepreneur eager to become your own boss, or a seasoned business owner seeking to take your startup to the next level, here are the eight best books to help you on your business venture.</p> <h2>1. Four Steps to the Epiphany</h2> <p>Often referred as the father of the Lean Startup revolution, Steve Blank is a seasoned entrepreneur (starting eight high-tech companies over 21 years), entrepreneurship author, and professor (U.C. Berkeley, Stanford University and the Columbia University/Berkeley joint MBA program). In <a href="http://www.amazon.com/gp/product/0989200507/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0989200507&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=JOMQJOOX36JE3RHG">The Four Steps to the Epiphany</a>, Blank explains the practical and proven four-step customer development process, which is key to launching and maintaining a sustainable startup.</p> <h2>2. Web Analytics: An Hour a Day</h2> <p>Don't undermine your business venture by leaving it offline. According to a Google and Ipsos survey of more than 3,800 small businesses, 58% of them <a href="http://www.inc.com/associated-press/small-businesses-have-no-website.html">didn't have a website</a>. But setting up a website is just the first step &mdash; you also need to understand how it performs. For this, you should leverage web analytics, which is the process of using data to assess and improve the effectiveness of a site. Learn from world-renowned analytics expert Avinash Kaushik through his book <a href="http://www.amazon.com/gp/product/0470130652/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0470130652&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=VJ5XWHMCML7YFWJ5">Web Analytics: An Hour a Day</a>. As its name implies, Kaushik's book provides a daily guide to understanding and applying advanced analytics concepts, including SEM/PPC analysis, the power of segmentation, and conversion-rate best practices. Learn to leverage quick-start solutions for all types of sites, such as small business websites, blogs, and digital storefronts.</p> <h2>3. Tribes</h2> <p>In a perfect world, any entrepreneur would want their customers to be as fanatical as Apple's, Disney's, or The Burger Shack's. Marketing expert Seth Godin shows you the key to using the Internet to create your own customer &quot;tribe&quot; in his book <a href="http://www.amazon.com/gp/product/1591842336/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1591842336&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=6GTHPVAX5EFP3QG2">Tribes: We Need You to Lead Us</a>. From detailed best practices, you'll learn how to craft your own manifesto, make it easy for your members to connect to you and one another, and track your movement's progress.</p> <h2>4. Zero to One</h2> <p>You may have heard the name of Peter Thiel before. Whether it was as one of the co-founders of PayPal in 1998 or the first outside investor in Facebook (a 10.2% stake acquired in 2004 for $500,000), you know that Thiel means serious business. In his New York Times bestseller <a href="http://www.amazon.com/gp/product/0804139296/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0804139296&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=SXVPOOHLWSSE5PB5">Zero to One: Notes on Startups, or How to Build the Future</a>, Thiel outlines unique and practical insights about entrepreneurship, and discusses success in terms of human nature and culture. Along with actionable tips on business strategy, Thiel outlines the seven questions that &quot;every business must answer,&quot; which are key to fine-tuning your entrepreneurial vision.</p> <h2>5. The Art of the Start 2.0</h2> <p>While evangelism marketing is more common nowadays, it wasn't so ubiquitous back in the early 1980s. Many people believe former chief evangelist of Apple, Guy Kawasaki, to be the father of the art &mdash; making customers believe so strongly in a particular product or service, that they freely try to convince others to buy and use it. Kawasaki is well-known for his down-to-earth and down-to-business writing style. In <a href="http://www.amazon.com/gp/product/1591847842/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=1591847842&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=XUY5MIOFWZH2QXN6">The Art of the Start 2.0: The Time-Tested, Battle-Hardened Guide for Anyone Starting Anything</a>, he provides a detailed marketing and PR blueprint for aspiring entrepreneurs, small-business owners, and not-for-profit leaders.</p> <h2>6. The 4-Hour Workweek</h2> <p>One of the main reasons that individuals venture into entrepreneurship is to achieve a better work-life balance. Tim Ferriss is one of the most vocal advocates of pursuing entrepreneurship to improve your lifestyle. In <a href="http://www.amazon.com/gp/product/0307465357/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0307465357&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=WWH3KS7BLKXNNBB6">The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich</a>, Ferriss teaches techniques for helping entrepreneurs and business owners to produce seemingly superhuman results in minimum time. (See also: <a href="http://www.wisebread.com/11-time-saving-hacks-from-the-worlds-busiest-people?ref=seealso">11 Time Saving Hacks From the World's Busiest People</a>)</p> <h2>7. Start Something That Matters</h2> <p>Besides a better work-life balance, many entrepreneurs start businesses in search of the ideal mix of profit and social good. Founder and Chief Shoe Giver of shoe company TOMS, Blake Mycoskie is the poster boy for a business model that helps people in need with every product purchased. <a href="http://www.amazon.com/gp/product/0812981448/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0812981448&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=5HZ2PCZONDPSBKFT">Start Something That Matters</a> tells the story of the steps Mycoskie took to set up his for-profit company to help children he met in a small village in Argentina, and how he inspires others to start something that positively impacts the world. In his book, he profiles other entrepreneurs doing good, including Lauren Bush (founder of FEED Projects), and Eric Ryan and Adam Lowry (co-founders of method).</p> <h2>8. Delivering Happiness</h2> <p>In <a href="http://www.amazon.com/gp/product/0446576220/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=9325&amp;creativeASIN=0446576220&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=ZPGEBDFFVIUEMYT5">Delivering Happiness: A Path to Profits, Passion, and Purpose</a>, Tony Hsieh, the CEO of Zappos.com Inc, explains how his company went from scrappy shoe online retailer to major player in ecommerce, with over $1 billion in gross merchandise sales every year. Great customer service is key for the survival of any business, and Hsieh makes a strong case of how customer service should be the responsibility of the entire company, not just a department. Given that Zappos consistently ranks among the top companies to work for and was eventually acquired by Amazon in 2009 for a cool $1.2 billion, he is definitely on to something.</p> <p><em>What are your favorite books on entrepreneurship?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/the-8-best-books-for-entrepreneurs">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-top-7-blogs-for-entrepreneurs">The Top 7 Blogs for Entrepreneurs</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-beloved-books-of-successful-millionaires">10 Beloved Books of Successful Millionaires</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-8-classic-personal-finance-books-you-must-read">The 8 Classic Personal Finance Books You Must Read</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship advice books inspiration self employed small businesses start ups Mon, 21 Dec 2015 14:00:04 +0000 Damian Davila 1623600 at http://www.wisebread.com 11 Cool Uses for Popsicle Sticks http://www.wisebread.com/11-cool-uses-for-popsicle-sticks <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/11-cool-uses-for-popsicle-sticks" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/popsicle_sticks_000046971446.jpg" alt="Learning a bunch of cool new uses for popsicle sticks" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Cooling off with popsicles this summer? Don't toss the sticks! There are a number of <a href="http://www.wisebread.com/7-diy-crafts-that-will-save-you-money">arts and crafts</a> you can make with your leftovers. (And if you're not into cold desserts &mdash; don't fret: you can pick up hundreds of <a href="http://www.amazon.com/gp/product/B001GXD6BU/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B001GXD6BU&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=GFF5V7IXMG7OHC6X">popsicle sticks</a> online or at your local dollar store.)</p> <h2>1. Coasters</h2> <p>These <a href="http://www.cookinglikelou.com/2014/01/diy-mini-pallet-coasters.html">pallet coasters</a> make an excellent gift for your DIY-loving friends. To make them look especially authentic, you'll cut the rounded edges off with sharp scissors. Stain or leave natural, depending on your preference.</p> <h2>2. Loom</h2> <p>Try out weaving with this <a href="http://buggyandbuddy.com/weaving-with-kids-using-ribbons-and-fabric/">homemade loom</a> project. Hot glue four popsicle sticks together in a square, then tie string across the length to get started. You can give your kids a basket with various pieces of ribbon, yarn, and string to spark their creativity.</p> <h2>3. Workouts</h2> <p>Looking for exercise motivation? Try this <a href="http://backtoherroots.com/2012/08/09/pinterest-challenge-popsicle-stick-workout-jar/">workout jar</a> full of colorful popsicle sticks that tell you exactly how to move. Quickie workouts could mean two sticks completed. When you have time for sweating, challenge yourself to do five or more!</p> <h2>4. Entertainment</h2> <p>Take this same idea and make a <a href="http://www.whilehewasnapping.com/2014/07/washi-tape-summer-boredom-buster-jars/">boredom busting jar</a>. You can use our <a href="http://www.wisebread.com/20-cheap-fun-things-to-do-this-summer">summer bucket list</a> to get inspiration for family friendly ideas or come up with your own. Then write them down on the sticks, decorate, select your activity, and enjoy.</p> <h2>5. Journal</h2> <p>This <a href="http://inmyblueroom.blogspot.com/2014/07/popsicle-stick-notebook-with-twinery.html">stick journal</a> would make a fun book for kids and adults alike. If you're not into bookbinding, you can just adhere the popsicle sticks to a simple notebook. Then embellish anyway you like to make it personal.</p> <h2>6 Doll House</h2> <p>I'm already drafting the plans to make my daughter a <a href="http://melissagoodsell.typepad.com/day_to_day/2008/11/the-little-popsicle-house.html">popsicle stick doll house</a>. All you need are the sticks and hot glue. Older kids might be able to tackle this project by themselves. Arrange sticks to make the walls, room dividers, and then roof. Leave one side open for play.</p> <h2>7. Frame</h2> <p>Display your life's memories with this <a href="https://diyfamily.wordpress.com/2009/10/30/popsicle-stick-photo-frame/">photo frame</a> made entirely of popsicle sticks. After you download the <a href="https://diyfamily.files.wordpress.com/2009/10/photo-frame.pdf">free instructions</a>, you'll assemble the sticks and leave room for the photo. The rest is just gluing and dry time, you can orient the frame horizontally or vertically.</p> <h2>8. Wall Art</h2> <p>I cannot believe this <a href="http://www.apartmenttherapy.com/create-wall-art-from-popsicle-128336">gorgeous piece of artwork</a> is made from popsicle sticks. You can replicate the look by dying or painting sticks different colors and gluing them to a backing (styrofoam would work) for added stability. Play around with colors and patterns for a unique look. The best part? Your whole family can help.</p> <h2>9. Dolls</h2> <p>When your child gets bored of the same old toys, try making these <a href="http://mollymoocrafts.com/craft-stick-dolls/">craft stick dolls</a>. You can draw faces and clothing onto the sticks with markers. Make them even more beautiful with colorful washi tape or stickers. What a great rainy day activity!</p> <h2>10. Chandelier</h2> <p>No, really. You can make a <a href="http://boredandcrafty.com/?p=4574">popsicle stick chandelier</a>. You'll need three wooden embroidery hoops of different sizes. Then glue sticks onto each hoop and let dry before assembling. You may not want to swing by this chandelier, but it will surely be a conversation piece.</p> <h2>11. Toy</h2> <p>Here's a last-minute gift for a child's birthday party: <a href="http://www.howdoesshe.com/stick-art-kit-with-free-printables/">Stick art kit</a>. All you need are jumbo popsicle sticks and <a href="http://www.amazon.com/gp/product/B002IXGUAQ/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B002IXGUAQ&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=C44AZVOE3YV3TUN6">round Velcro stickers</a>. Put the stickers on the sticks (25 to be exact), then package them up in a pretty bag with the free printable tag. Kids will create shapes for hours with them.</p> <p><em>What cool things have you made with popsicle sticks?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-marcin">Ashley Marcin</a> of <a href="http://www.wisebread.com/11-cool-uses-for-popsicle-sticks">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/14-free-or-cheap-toys-that-will-make-your-kid-smarter">14 Free or Cheap Toys That Will Make Your Kid Smarter</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/better-than-barbie-5-free-toys-kids-will-love">Better Than Barbie: 5 Free Toys Kids Will Love</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-more-cheap-and-easy-diy-toys-kids-will-love">15 More Cheap and Easy DIY Toys Kids Will Love</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/make-your-own-moon-sand-dirt-cheap">Make Your Own Moon Sand, Dirt Cheap</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-fun-toys-and-games-you-can-make-at-home">10 Fun Toys and Games You Can Make at Home</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> DIY arts craft sticks creative inspiration popsicle sticks toys Tue, 28 Jul 2015 17:00:13 +0000 Ashley Marcin 1505743 at http://www.wisebread.com 3 Pearls of Financial Wisdom From Dave Ramsey http://www.wisebread.com/3-pearls-of-financial-wisdom-from-dave-ramsey <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/3-pearls-of-financial-wisdom-from-dave-ramsey" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/money_in_pocket_000061029288.jpg" alt="Hearing pearls of financial wisdom from Dave Ramsey" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Between his <a href="http://www.amazon.com/s/ref=as_li_ss_tl?_encoding=UTF8&amp;camp=1789&amp;creative=390957&amp;field-keywords=dave%20ramsey&amp;linkCode=ur2&amp;rh=n%3A283155%2Ck%3Adave%20ramsey&amp;tag=wisbre03-20&amp;url=search-alias%3Dstripbooks&amp;linkId=GG6YM2IH7XE5YODZ">best-selling books</a>, radio show, and motivational speeches, Dave Ramsey has been giving solid personal finance advice for more than two decades. He takes a no-nonsense approach to managing money &mdash; just the way I like it &mdash; while offering advice that's practical, actionable, and guaranteed to put you on the path toward financial freedom. Ramsey's <a href="http://www.wisebread.com/the-3-best-pieces-of-financial-wisdom-from-oprah-winfrey">pearls of financial wisdom</a> can help you get ahead and gain control of your finances. Here are three of my favorites.</p> <h2>1. Don't Worship Stuff</h2> <p>Many people grow up thinking they need stuff to be happy. We often confuse our wants with our needs, and convince ourselves we &quot;need&quot; a big house, a fancy car, and everything else in between.The more we have, the more successful we feel. The problem, however, is that stuff costs money &mdash; money we might not have.</p> <p>In his book, <a href="http://www.amazon.com/gp/product/1595555277/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1595555277&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=XIYNPHY6SYJDSBL3">The Total Money Makeover: A Proven Plan for Financial Fitness</a>, Ramsey nails it when he says, &quot;We buy things we don't need with money we don't have to impress people we don't like.&quot; Ain't that the truth.</p> <p>Some of us become so obsessed with keeping up that we sacrifice our future financial health and willingly go into debt just so others will think we're successful and can afford a certain lifestyle. However, the joke's on us because this type of thinking gets us nowhere financially &mdash; and fast.</p> <p>The best thing you can do for your money is stop worrying about the opinions of others and realize stuff doesn't make you happy or richer. Ramsey encourages &quot;living substantially below your means.&quot; Just because you make $75,000 a year doesn't mean you have to spend $75,000 a year. Simplicity is key to acquiring financial freedom.</p> <h2>2. Build a $1,000 Emergency Fund &mdash; Now</h2> <p>According to Ramsey, this is the first step to financial stability. This doesn't suggest you can't have <em>more </em>in your emergency fund. Like many other financial experts, Ramsey speaks about the importance of having a sizable cash cushion &mdash; at least three to six months of income. But since this takes time, Ramsey's Financial Peace University program recommends baby steps and starting with a $1,000 emergency fund.</p> <p>This ensures enough cash to handle life's curveballs, so you don't have to rely on credit cards. This might come as a shock, but building a small emergency fund takes priority over paying off debt (although you'll still need to make minimum debt payments while growing a small emergency fund).</p> <p>Do whatever you can to build this emergency fund. For example, sell stuff you don't need at a yard sale, work overtime, or get a side hustle. The idea is to fund this account as soon as possible. You'll enjoy peace of mind knowing you can handle an emergency, and it's only after building an emergency fund that you can start improving other areas of your personal finance.</p> <h2>3. Don't Be a Slave to a Lender</h2> <p>We live in a world where anything can be financed &mdash; from electronics to houses. And some people fall in the trap of thinking they can afford something as long as they're able to make the minimum payments.</p> <p>Ramsey's financial philosophy revolves around living debt-free. He's a big believer in not carrying <em>any </em>type of debt, including an auto loan and a mortgage. In fact, he says he would rather ride a bike than take out a car loan.</p> <p>In his book, <a href="http://www.amazon.com/gp/product/0670032085/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=0670032085&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=KPRFOIAH4ZLGPUG5">Financial Peace Revisited</a>, Ramsey says, &quot;We want it all, and we can borrow to get it all, before we can afford it all.&quot; For some, getting a loan or credit card has never been easier. But the more debt you have, the more you have to work, and the less money and time you'll have to enjoy your life.</p> <p>Once you have a small emergency fund, Ramsey says it's time to tackle your non-mortgage debt. Not just your credit card debt &mdash; all of your debt. He feels that debt-free living isn't just about paying off revolving debt, but also paying off student loans and car loans.</p> <p>He recommends the debt snowball method, in which you pay off your smallest balance first. You'll make large payments toward this debt every month, while making the minimum payments on all your other debts. After you get rid of the smallest balance, take the money you were using to pay off this balance and apply it to the next smallest balance, and so on. You'll eventually pay off your debts, at which point you can start increasing your $1,000 emergency fund, aiming for three to six month's worth of income.</p> <p>After paying off debt and building a &quot;real&quot; emergency fund, Ramsey puts the focus on your mortgage and encourages paying off this debt as fast as you can. Becoming mortgage-free might feel like a stretch, but since you don't have other debts hanging over your head, you're able to increase your mortgage payments without breaking a sweat and pay off this debt years sooner.</p> <p>That's the American dream if I've ever heard of it.</p> <p><em>Are you a student of Dave Ramsey's school of financial thought? What are some of your takeaways? How have Ramsey's philosophies helped improve your own situation? Let us know in the comments below.</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/3-pearls-of-financial-wisdom-from-dave-ramsey">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-8"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-think-like-a-billionaire-when-you-re-broke">How to Think Like a Billionaire When You’re Broke</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/12-personal-finance-skills-everyone-should-master">12 Personal Finance Skills Everyone Should Master</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-financial-basics-every-new-grad-should-know">The Financial Basics Every New Grad Should Know</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-money-lessons-we-could-all-learn-from-dwayne-the-rock-johnson">6 Money Lessons We Could All Learn From Dwayne &quot;The Rock&quot; Johnson</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-3-best-pieces-of-financial-wisdom-from-oprah-winfrey">The 3 Best Pieces of Financial Wisdom From Oprah Winfrey</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance advice dave ramsey inspiration saving money wisdom Thu, 16 Jul 2015 13:00:14 +0000 Mikey Rox 1485921 at http://www.wisebread.com