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What Separates the Wealthy from the Majority – Education

Do the wealthy know ways to make money that are unknown to everyone else? You better believe it!

John D. Rockefeller, one of early America’s richest tycoons, once said, “I have ways of making money that you know nothing of.” How does that make you feel? Shouldn’t everyone know the best ways to make money and create a prosperous future?

But the fact remains that there are wealth-building principles that are common knowledge to the wealthy but are largely unknown by the majority of the population.

So why is the average citizen in the dark?

How money works is simply not taught in schools. I originally bookmarked this article about states lagging behind in teaching students about money in 2014. At the time, only 4 states required high school students to complete a personal finance class to earn their high school diploma. Has the situation improved in the past 6 years?

Well a little but not much. While 21  states in the U.S. include personal finance in at least one high school class, only 6 now require it for graduation.¹  And even if you’re fortunate enough to have enrolled in one of these classes, who’s to say whether or not you got a qualified educator. According to a study done by Fox News, teachers are often not trained in personal finance themselves so they’re “afraid that students will ask questions that they don’t have the answers to” and steer clear. ²

Interestingly, all 50 states teach a class on sex ed. So the one thing you can learn on your own, they teach. And the one thing you’ll never learn on your own, they don’t. Go figure.

Actually, it does figure.

Think about it. If the financial industry were to educate consumers about money savviness, people might stop socking away so much of it in low-interest savings accounts that earn less than a 1% rate of return. And before you leave the branch do they offer you a brochure on financial concepts to help you get out of debt, avoid money missteps, and start saving like the wealthy?

Pfff—yeah right!

No. It’s like, if you’re dumb enough to open a low-interest savings account and take the free lollipop (it’s like their sucker litmus test), then they’ll try to sell you a car loan at 6% interest³ . What a deal. You earn less than 1%—they earn 6%. It’s like a lose-lose for you, but you still thank them on the way out.

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Hard to fathom there are that many suckers? It’s true…

The financial industry thrives on customers who are stuck in the “Sucker Cycle” of foolish spending. While consumers are binging on Netflix, shipping on Amazon, and ordering from DoorDash, institutions are quietly leveraging the power of compound interest to make their customers’ money work for themselves. While consumers live paycheck-to-paycheck, financial institutions and shrewd businesses build profits sucker-to-sucker.

For most people, earning (and spending) a paycheck is the extent of their experience. But the wealthy know the real deal. To become financially independent, you must know the concepts and strategies to save, protect, and grow your money. You have to have a sound financial eduction.

Did this article make you mad? Hopefully, it did.

So what do you do about it? You stop taking the sucker and you stop being the sucker. You learn how to take control of spending, protecting, saving, and investing your money. How? step1 – You read the book, “HowMoneyWorks, Stop Being a Sucker.” It will only take about an hour.

Don’t have a copy? Contact me and I’ll help you get one.

Step 2 – Use that anger to fuel action.  Attend the next How Money Works master class, Part 1. Announcement coming soon!

Afterwards, reach out to me and say, “Now that I know the ways of making money Rockefeller spoke of, I’m ready to chart my own course to financial independence.” We have a clear action plan for you to follow called “The 7 Money Milestones.” I’ll help you check off each one.

Let’s do it together.

(1) https://www.councilforeconed.org/survey-of-the-states-2020/

(2) https://financialeducatorscouncil.org/financial-literacy-statistics/

(3) https://marketwatch.com/story/new-car-loans-hit-highest-interest-rates-in-a-decade-2019-04-02/

15 Summer Beauty Tips

We’re in the second week of summer in the northern hemisphere, so how about 15 tips to keep you at full head-to-toe glam for the entire season.

  1. Shades are more than just glam wear. They protect your vision because your eyes, like your skin, is sensitive to UV rays. So go ahead and splurge on some new ones; it’s for your health.
  2. Get a  stylish hat or visor for added sun protection.
  3. If you have a fair complexion, during the wear-less season, hide pale skin with a fake tan. While it may be tempting to get a real tan catching some summer rays at the beach or poolside, remember the skin damage it can cause. That damage is cumulative and can end up costing you dearly later.
    Before you apply the self-tanner, make sure to use an exfoliating scrub and shave for more even results. Apply sparingly to elbows, knees, ankles & around your hairline to avoid dark patches. After it’s on don’t forget to wash your hands with lukewarm, soapy water to avoid any tell-tale orange palms.
  4. Switch to a mattifying gel-based facial cleanser to keep oil-prone areas in check. Follow up cleansing with a salicylic acid-based toner to unclog pores and also help with oil absorption.
  5. YRT (year-round tip): Continue to use moisturizer despite the humid weather. Your skin needs hydration year-round to stay healthy and skipping moisturizer might lead your skin to overproduce the very oil we helped you get a handle on in the last tip.
  6. YRT:  Use sunblock with at least an SPF of 15. As was stated earlier, every second of sun exposure adds up even on those cloudy days when you can’t see the sun. It’s still up there so wear sunblock every day, even once summer ends.

  7. If you’re going to be outside most of the day taking advantage of every possible moment of the summer, don’t forget to reapply sunscreen every two hours. Reapply it more often if you’re being extremely active (hiking or exercising) or at high altitudes, where the sun is stronger.
  8. Pre-hike, or any outdoor activity in the humid southern USA, dust your skin with cornstarch powder to help stay dry. Try using a scented powder to save a step of applying a fragrance and get to the fun quicker.

  9. Smooth flaky, chapped lips by using MK Satin Lips Lip Mask. Remove mask by gently rubbing a warm wet washcloth over your lips.
  10. Keep your lips looking luscious in the summer heat with great lip color that comes with SPF 15. Your lips have some of the thinnest most fragile skin on your body so you definitely don’t want to forget to protect them from the sun.

  11. The best shape for nails is round during the summer when you’ll be more active. Also give your nails a break from polish for a few days at a time to keep them healthy.
  12. When you are wearing polish, go for strong, jewel-tones or neon brights. Prevent your polish from turning yellow & chipping with a UV-protective top coat.
  13. Keep a pumice stone or foot file in the shower to smooth dry, rough feet. We have found a pumice stone is more effective than a foot file in terms of it’s sandal-worthy effect on feet and the life span of the stone. Just be sure to rinse and dry it thoroughly after each use.
  14. At the end of a long day out and about, soak hot, stinky feet in a big bowl of water and citrus fruit slices. If you know you’re prone to smelly feet, start the day by using some antiperspirant or a deodorizing spray on your feet.
  15. Hot weather intensifies fragrances so switch to a lighter, more airy scent that way your scent doesn’t overpower you or someone else in the summer heat. And don’t forget your body-cleansing towelettes and purse spray to freshen up on the go.

What beauty tips do you swear by during the summer?

How to Get Out of Debt

Debt: It’s something a lot of households in America have but few like to admit or talk about. But that doesn’t make it go away. Here are some useful tips to get out of debt.

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First, try to pay more than the minimum monthly amount required on each bill, credit card, or other commitment. Paying only the minimum will result in you spending exorbitant amounts in interest.

Second, concentrate initially on paying the debt that carries the highest interest. Albert Einstein famously said,

“Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.”

Here’s why you want to pay off the highest interest rate first. Every balance that you are charged interest on doubles every so often and your creditor knows this. It’s a little thing called the Rule of 72. Divide 72 by your interest rate and that’s how long it takes for your balance to double. So if you have a credit card with a 29% rate and one with a 14% interest rate, you want to pay off the one that doubles in about 2 years (72 divided by 29) before you worry too much about the one that doubles in 5 years (72 divided by 14).

Third, curb your spending habits. This is especially important but often the hardest thing to do. Check back next week for useful tips on how to manage this last but very important part of getting and staying out of debt.

Artwork by ASP – 12

original characterThis is an original character the aspiring artist intended to share last weekend. She’s currently working on original characters possibly with the intent of creating her own graphic novels.