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Set a Goal - Alternative Income Streams
By admin | April 1, 2009
I am a goal oriented person so I naturally think setting goals are helpful.
Last night I went through all 2008 financial info for the Kakaras family. I am organizing them for tax return preparation (no I’m actually not doing it myself, this year I wanted a professional to do it).
However, I did a quick excel spreadsheet version of what my tax return should come out with just so I can have the ballpark in mind that we are working with. One thing that I was surprised by was the amount of alternative income streams from 2008.
It was neat looking back and adding up the different places I had received money: promotional bonuses from opening bank accounts, interest earned, and other 1099’s I received. It made me want to set a goal for alternative income streams for 2009.
One of a major goal of mine is for one day to have my alternative income streams be greater than my expenses. At that point life is completely different and I am actively thinking through ways to take steps towards this.
I thought this last night and figured it would be a good challenge to throw out to everyone. “Set a goal for alternative income streams in 2009.” It can look like whatever you want (start a blog, make an investment, earn a better interest rate on your savings accounts, think of a small side business that you can start, etc.)
Everyone is different so it will look different for each person but think about setting a goal for alternative income streams in ‘09.
Topics: Alternative Income Streams | No Comments »
Awareness is Necessary
By admin | March 31, 2009
I have said before that I do not like to motivate people with guilt. This is not an appropriate emotion to be a catalyst to action. Guilt is not Helpful. Awareness is Helpful.
In America, I get caught up in stuff and comfort. Yes, by God’s grace I do snap out of it, but it is too important to be aware of the reality of our financial life. Here is what I mean:
If 100 people represented the world’s population, 53 of them would live on less than $2 per day. A person who makes 24,000 dollars per year makes 50 times more than the average person on this planet.
Which is more messed up: that we have so much more than everyone else in the world or that we don’t think that we are rich. (I received this from Francis Chan’s book: Crazy Love)
It is necessary to understand this. The only reason why we are not content in our finances is because of greed. No matter how far back you look, this is the root issue for contentment.
Philippians 4:12-13:
“I know what it is to be in need, and I know what it is to have plenty. I have learned the secret of being content in any and every situation, whether well fed or hungry, whether living in plenty or in want. I can do everything through him who gives me strength.”
Topics: Heart | No Comments »
Take a Look…It’s in a Book
By admin | March 30, 2009
We are hungered for entertainment. Our culture consumes anything that is entertaining. Movies, Music, Internet, Games…we just love them. And it is easy to spend an exuberant amount of money on our entertainment.
However, one thing I never understood was…how come people don’t like books? Now, I know the average person dabbles in em, but I am talking about a person who likes books as much as a movie. Think of how much time you spent watching tv this week, or last week. Okay now ask yourself how much time you spent reading? If you are a typical American, they do not even compare.
Here’s the funny thing…Libraries offer books for FREE. So not only do we reject reading books, but people are literally GIVING THEM TO US and we still would rather see an $8 movie or buy a $50 game.
It’s just fascinating. The average millionaire reads 1 non-fiction book a month. Not that our goal is this but I figured it is worth mentioning.
So my tip of the day is as follows:Use the Library
The library is awesome. It has all the books that I love (more importantly the books on tape that go with it), tons of movies that I love, and it is all free which I really love. I suggest that we take advantage of the opportunity known as the Library. Not only is it entertaining and free but you might also learn something.
Topics: Budgeting, Deals | No Comments »
Lost Bomb
By admin | March 26, 2009
So, I am an avid LOST watcher. I got caught up with the DVDs around season 2 and have been hooked since. I love the show. It is so entertaining and I very rarely get frustrated as some do. I just enjoy my time watching it and do not have preconceived expectations.
However…last night a “bomb” to say the least, was dropped during the episode that changes EVERYTHING. This is not a sale’s pitch for the show I am just explaining my reaction.
Everyone that I was watching it with was as shocked as I was and it immediately threw us into a frenzy of conversation for what this meant for the show. We all agreed that this could be a catalyst that causes a chain reaction of many things within the show.
I am about to tie this into our lives…ready for it?
You know this happens to us too? I mean in life.
There are things that happen to us that are “bombs” that get dropped on us that change everything, and many times that includes our financial life.
Some may call these “emergencies.” Now before you stop reading this post and get turned off because I am about to talk about an emergency fund let me ask this question. Do you have an emergency fund? Most do not. If not, keep reading.
Money Magazine says that roughly 4 out of 5 people will have a MAJOR NEGATIVE financial event in any given 10 year period. Something is very likely to happen. Wouldn’t it be wise to arrange your financial life so that you are prepared when that event does happen.
Just something to think about.
Topics: Planning | No Comments »
Is Using Debt for Purchases an Option according to Scripture?
By admin | March 25, 2009
I want to open scripture to answer this.
Ephesians 5:15 says “Be very careful, then, how you live—not as unwise but as wise”
I honestly think scripture has some of the smartest, most practical advice you can get. It does not matter if you are a Christ Follower or not, we all want to live and make decisions wisely.
If you follow scripture according to your life we are to live as wise people. In regards to money - If you cannot pay for something, do not get it. This is a simple statement that many would agree with as wise. I don’t care what it is, if it is not a basic necessity and you cannot pay for it…don’t get it. This is what I call wisdom.
How did we come to the conclusion that using debt for things was a viable decision ?
You might be asking yourself, why I condone a home mortgage then. Here’s the difference, debt on an asset appreciating is not unwise therefore not in contradiction the above scripture. You can literally sell your house at any point and not have the mortgage any longer. When you go out to eat 3 times a week on your credit card there is nothing left to sell and nothing is appreciating. That is the important difference.
Just wanted to share some thoughts on this today.
Topics: Debt | No Comments »