Taras the Bull

Have you made a New Years resolution to finally get your finances in order?  Have you made these same New Years resolutions before and did not get the results you’ve hoped to receive?   This year lets make some real (measurable) progress, where you can finally get a break- through in your finances that you most certainly desire.  First lets start by telling yourself the truth.  Do you really want the things in which your heart is set.  If so please continue reading.  Let’s first and foremost create a plan that will be  your road  map for the next 12 months.  Secondly, think of someone who will hold you accountable to help you stick to your plan. Thirdly, Make a COMMITMENT to yourself that you will do any and everything possible to work your plan.

 I have intentional been very vague in today’s blog.  If anyone would like to know the steps in which to take to realize their financial goals/dreams, please post a commit.  

Thanks

Taras the Bull

Learn about the financial mistakes most people make and how to fix them.  One reason for this is that we have not been taught how to properly think about money nor how to manage it.  Do you remember taking any classes in school that taught you how to mange your money? Balance your checkbook?  How to properly save your money?  How about the importance of banking and how to chose a banker that is right for you?  When properly learning the above it will more than likely enhance your life.    Do not be alarmed!!  I have found that unless you are a Money Manager, CPA, Stockbroker, or Financial Planner of some sort, one just do not get proper education regarding how to use money as a tool to better their quality of life.  For reasons unknown to me, our education system does not feel Financial Education is important to people.  I beg to differ.  I know that things all work for a reason.  There are reasons why financial education is so insufficient in our society.  Money Managers and the like have the know how, why can’t you?  In order to get this money knowledge we have to spend big money just to hear any information.  Yes, the first consultation is free, maybe; but how much can you really get accomplished in one free hour of time on such an important matter.  A matter we use everyday. Money is such a subject of concern.  Money will directly affect you.  I t can enhance your quality of life once you know how to properly handle it or it can harm you and your family and loved ones when misused.   One free hour of financial information will not suffice for many years of lack of Financial Education.  Because the lack of financial education we walk around blindly spending our money and even our families money (money that don’t belong to us) but that belongs to our children.  We spend it incorrectly and on the wrong things.  We buy expensive cars; huge houses and we mount up huge amounts of credit card debt.  Then we worry about how we will pay for these enormous amounts of debts we have created and don’t know how to get out.  Take a moment to think about it.  Imagine yourself driving your favorite dream car.  Maybe it is expensive like a Royal Royce. Range Rover or Mercedes. Or, your dream car could be the latest SUV, or the latest Honda Accord.    If you borrow the money from a Bank, how long will it take you to actually payoff the loan?    The majority of car loans average 4-5 years to completely payoff.  The Royal Royce will cost you $225,000. Which you would be responsible to pay back 3,750 every 30 days for five years and that monthly payment is without interest.  The Mercedes will cost you $90,000 and the monthly payment will be approximately $1500.00 every 30 days. Finally the latest Honda Accord will cost you approximately 40,000 out the door of a dealership and will cost you over $650.00 per month.    Imagine paying these amounts every month.   You will pay almost $4000.00, for the first dream car, $1500 for the second dream car and over $650.00 for the third dream car.  Remember you are obligated to make these payments every 30 days.  These monies are expenditures that are leaving your household, your loved ones and yourself. How about you’re financial well being?  Now take into account your dream home.     Maybe you think your dream home is not that expensive?  Home values differ depending on where you live.  Your Hugh dream home may be 6,000 square foot but only cost 150,000, which is considered inexpensive due to the price per square foot but even so, imagine paying your home payment to the Bank every 30 days for over 30 years. That means your dream car and your dream home payment could be over $8000.00 per month.   Do not fret.   I am just getting you to think about what you are doing when you make decisions to borrow money or even when you spend money.  I want you to think.  Do not forget about credit card debt on top of paying for your dream home and dream car.  See my article on why credit cards where invented and how they can keep you in the debt rat race.   Also see my article on how to properly use credit cards.   

What are the answers to these issues?  Do financial planners have the answers how about your CPA?  To find ’smart’ investment strategies, particularly for retirement, some people hire financial planners.  You may have done this yourself.  Unfortunately most financial planners have hidden agendas and that agenda is to sell you the financial products of the firm they represent even if these products will not greatly benefit you. Financial planners make money by selling you products, not by giving you sound financial advice/ education.  If you chose to work with a financial planner be sure to use sound judgment, do not just agree to the recommended products, which is another expensive financial mistake people make.  A typical financial advisor is biased. No matter how much they say they’re not biased do not believe them.  They are.  I will prove it to you and I will tell you what they are hiding from you that would make you run the other way and never take there phone calls again.  I f you are working with a financial advisor you probably decided to work with them because they called you at the right time (when you had 5min to spare); Or the Financial advisor called you after your friend gave them your name and phone number as a referral.  I will tell you why Financial Advisors always want referrals and why it puts you in the worst possible position to do business with them.  I will put you in the power position of having brokers compete for your business and put you in the position to choose who gets your business!  If you do not have a financial advisor or someone who could give you and your family valuable insight on how to properly handle money, this could be your step to get your financial life together.  I offer a way to make all of your financial decisions make sense and feel right 100% of the time!  It doesn’t matter what others say about you, you have a chance to finally change your life!

I am a Personal Financial Representative.  In this position, my responsibility is to give you the best most practical financial advice that will enhance your life.  I will make available financial advice that will enable you to make better financial.  These decisions will have a direct impact on your financial future and will help you achieve your financial goals. Even though you may not have thought much about it, money affects everything you do. Since emotions dictate much of what we do around money, doesn’t it make sense to have the right emotions influencing your money decisions?  I believe 100% of your decisions should be made while in the right mindset.  What would you want to spend your time doing each day?  What would you be doing with your day if you didn’t have to worry about making money?  How would you be living your life if money were not an issue?  What would you have to be doing right now to feel you’ve reached your full potential in life?  Today, what do you have control over?  What do you want to spend more time doing?  Is there anyone you would like to help if you had the time to give?   Remember, you are either moving toward your goals or you are moving away from them.  I want to make certain that you consistently make perfect money decisions and always apply the most efficient money strategies.  

I recently saw an ad from a Financial Advisor who claimed that buying a Starbucks latte is costing you 1.4 million at retirement.  He is right.  If you take the cost of a latte, multiply it by 7 days a week, for 365 days per year and compound that number by 10% per year, it would grow to 1.4 million over 30 years.  That problem is you can’t have any more lattes!  I believe there should be a balance between using your money NOW to enjoy your life and investing in your future.  The good news is I will not advice you to give up your lattes.  I believe its ridiculous to give up some of the pleasures that you enjoy in life by scaring you into believing you need to watch every penny and save, save, save for the future.  That is called living in fear and there is no room in life for fear.  So, decide NOW if you truly want to continue to spend blindly without proper financial education or would you allow me to become your financial expert guide!