That's what has been reported in the news for the past couple years. They report the economy is shaky and not one has jobs, and yet we spend a record amount of 52.4 billion dollars this past weekend on holiday shopping!! This somehow doesn't add up to me... the only thing I can take from this is that the economy is not crap, people are still getting income from their jobs and people are still spending like crazy. We need to look for more sources other then the news that show us how the economy is doing. I like to look at movie theater sales as well. For example Breaking Dawn Part 1 has brought in 220 million dollars in its first 10 days in theaters. So the real news is, that the economy is doing just fine. If you work hard and make opportunities for yourself, good things will happen even in this 'bad' economy.
--A Future Millionaire
Tuesday, November 29, 2011
Monday, November 21, 2011
Where does the average millionaire shop?
Do you think they only go for the fancy brands? Then maybe think again. In Stop Acting Rich by Thomas Stanley he shows the top ten stores millionaire men and women shop. Here are the lists:
Men:
1. Nordstrom (38.6%)
2. Macy ’ s (27.3%)
3. Kohl ’ s (21.7%)
4. Target (21.6%)
5. Costco (21.3%)
6. Dillard ’ s (20.9%)
7. Brooks Brothers (19.3%)
8. Gap (15.9%)
9. Wal-Mart (15.5%)
10. T.J. Maxx (14.7%)
Women:
1. Ann Taylor (47.5%)
2. Nordstrom (44.6%)
3. Macy ’ s (43.6%)
4. Target (39.6%)
5. T.J. Maxx (33.7%)
6. Talbots (32.7%)
7. Gap (28.7%)
8. Costco (27.7%)
9. Lord & Taylor (25.7%)
10. Saks Fifth Avenue (24.8%)
I guess by shopping at Kohl's I am unknowingly shopping where 21.7% of millionaires say they have shopped. Looks like I could be on to something here. If you think millionaire only where custom made, then think again as well... he points out that only 4.6 percent of millionaire get custom made clothes. So the next time we shop, let's buy clothes because they look nice and are at a good price, not because they have a brand on them.
--A Future Millionaire
Men:
1. Nordstrom (38.6%)
2. Macy ’ s (27.3%)
3. Kohl ’ s (21.7%)
4. Target (21.6%)
5. Costco (21.3%)
6. Dillard ’ s (20.9%)
7. Brooks Brothers (19.3%)
8. Gap (15.9%)
9. Wal-Mart (15.5%)
10. T.J. Maxx (14.7%)
Women:
1. Ann Taylor (47.5%)
2. Nordstrom (44.6%)
3. Macy ’ s (43.6%)
4. Target (39.6%)
5. T.J. Maxx (33.7%)
6. Talbots (32.7%)
7. Gap (28.7%)
8. Costco (27.7%)
9. Lord & Taylor (25.7%)
10. Saks Fifth Avenue (24.8%)
I guess by shopping at Kohl's I am unknowingly shopping where 21.7% of millionaires say they have shopped. Looks like I could be on to something here. If you think millionaire only where custom made, then think again as well... he points out that only 4.6 percent of millionaire get custom made clothes. So the next time we shop, let's buy clothes because they look nice and are at a good price, not because they have a brand on them.
--A Future Millionaire
Friday, November 18, 2011
Failure. Verb or Noun?
I was reading a book called 101 Distinctions between Success and Failure. I would like to reflect on just one of those distinctions...
"Success is a noun. Failure is a verb."
Now if you know me, you know that my English skills are not the best but even this concept got to me. A verb is an action, something that you do. A noun is something that describes you. This is saying that we cannot let failure describe us. It is just something that we do. We can fail 500 times but as long as we try again we cannot be labeled as a failure. Once we give up that's when failure becomes a noun. Success takes hard work everyday and as long as you don't give up, you are a success. So if you always struggle with money now is the time to make things right and start winning. Don't give up on your finances, it will come around as long as you keep on keepin' on.
--A Future Millionaire
"Success is a noun. Failure is a verb."
Now if you know me, you know that my English skills are not the best but even this concept got to me. A verb is an action, something that you do. A noun is something that describes you. This is saying that we cannot let failure describe us. It is just something that we do. We can fail 500 times but as long as we try again we cannot be labeled as a failure. Once we give up that's when failure becomes a noun. Success takes hard work everyday and as long as you don't give up, you are a success. So if you always struggle with money now is the time to make things right and start winning. Don't give up on your finances, it will come around as long as you keep on keepin' on.
--A Future Millionaire
Tuesday, November 15, 2011
Investing
God calls us to invest our money that he has entrusted to us. We see this in gospel from this past weekend...
"14 “Again, it will be like a man going on a journey, who called his servants and entrusted his wealth to them. 15 To one he gave five bags of gold, to another two bags, and to another one bag,[a] each according to his ability. Then he went on his journey. 16 The man who had received five bags of gold went at once and put his money to work and gained five bags more. 17 So also, the one with two bags of gold gained two more. 18 But the man who had received one bag went off, dug a hole in the ground and hid his master’s money.
19 “After a long time the master of those servants returned and settled accounts with them. 20 The man who had received five bags of gold brought the other five. ‘Master,’ he said, ‘you entrusted me with five bags of gold. See, I have gained five more.’
21 “His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’
22 “The man with two bags of gold also came. ‘Master,’ he said, ‘you entrusted me with two bags of gold; see, I have gained two more.’
23 “His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’
24 “Then the man who had received one bag of gold came. ‘Master,’ he said, ‘I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. 25 So I was afraid and went out and hid your gold in the ground. See, here is what belongs to you.’
26 “His master replied, ‘You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where I have not scattered seed? 27 Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest.
28 “‘So take the bag of gold from him and give it to the one who has ten bags. 29 For whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them. 30 And throw that worthless servant outside, into the darkness, where there will be weeping and gnashing of teeth.’" -Matthew 25:14-30
This parable basically speaks for itself but in this story we are the servants and God is the man going on the journey. God is entrusting us with his money and we should do with it as he pleases. From this story we see that God wants us to invest our money so that it grows. This parable also states that if we properly take care of the money we are given today, we will be entrusted with even more of it in the future. Notice that I am not saying we are ENTITLED to this money because we are not. America has become an entitled nation that wants to be given things with no responsibility attached. Entrusted implies that we MUST be responsible or else we won't get more money! Don't be like the lazy servant, do good things with your money. Give some, invest some and spend some. To help you with the investing part, find a good financial adviser that can guide you in the right direction.
--A Future Millionaire
"14 “Again, it will be like a man going on a journey, who called his servants and entrusted his wealth to them. 15 To one he gave five bags of gold, to another two bags, and to another one bag,[a] each according to his ability. Then he went on his journey. 16 The man who had received five bags of gold went at once and put his money to work and gained five bags more. 17 So also, the one with two bags of gold gained two more. 18 But the man who had received one bag went off, dug a hole in the ground and hid his master’s money.
19 “After a long time the master of those servants returned and settled accounts with them. 20 The man who had received five bags of gold brought the other five. ‘Master,’ he said, ‘you entrusted me with five bags of gold. See, I have gained five more.’
21 “His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’
22 “The man with two bags of gold also came. ‘Master,’ he said, ‘you entrusted me with two bags of gold; see, I have gained two more.’
23 “His master replied, ‘Well done, good and faithful servant! You have been faithful with a few things; I will put you in charge of many things. Come and share your master’s happiness!’
24 “Then the man who had received one bag of gold came. ‘Master,’ he said, ‘I knew that you are a hard man, harvesting where you have not sown and gathering where you have not scattered seed. 25 So I was afraid and went out and hid your gold in the ground. See, here is what belongs to you.’
26 “His master replied, ‘You wicked, lazy servant! So you knew that I harvest where I have not sown and gather where I have not scattered seed? 27 Well then, you should have put my money on deposit with the bankers, so that when I returned I would have received it back with interest.
28 “‘So take the bag of gold from him and give it to the one who has ten bags. 29 For whoever has will be given more, and they will have an abundance. Whoever does not have, even what they have will be taken from them. 30 And throw that worthless servant outside, into the darkness, where there will be weeping and gnashing of teeth.’" -Matthew 25:14-30
This parable basically speaks for itself but in this story we are the servants and God is the man going on the journey. God is entrusting us with his money and we should do with it as he pleases. From this story we see that God wants us to invest our money so that it grows. This parable also states that if we properly take care of the money we are given today, we will be entrusted with even more of it in the future. Notice that I am not saying we are ENTITLED to this money because we are not. America has become an entitled nation that wants to be given things with no responsibility attached. Entrusted implies that we MUST be responsible or else we won't get more money! Don't be like the lazy servant, do good things with your money. Give some, invest some and spend some. To help you with the investing part, find a good financial adviser that can guide you in the right direction.
--A Future Millionaire
Thursday, November 10, 2011
Learn and Adapt
This post is sort of a freestyle because I don't have any sources that I can point you to right this second but I'm sure it's been said before. You must be able to adapt to any situation you are placed into. You may not thrive immediately, but adaption must occur. Adaptation is a key trait that I believe a future millionaire must have. Let me tell you story about why I am posting about this today.
As you may know, I am in my first year of grad school and about 1.5 months ago I took my first grad school test. It did not go so well. I got a 56 percent... and even with the curve that was the lowest possible C (which is not passing). It hit me pretty hard, mainly because of my near flawless performance in undergrad. I was definitely swimming in a bigger pond and had to adapt. I decided that more in depth studying had to be done so instead of letting the poor grade knock me down, I used it to inspire me. I just took the second test for the class this morning. I have not gotten the grade back yet but I am certain that I scored at least 20 point higher on it then I did on my first test. I will let you know what the official score is when I get it back. But here's the point...
I did what had to be done to adapt to my new environment. A millionaire must be able to jump through these hurdles and proceed through the changes life throws. Life is always changing. It is how we react to the change that tells us what kind of person we are.
--A Future Millionaire
As you may know, I am in my first year of grad school and about 1.5 months ago I took my first grad school test. It did not go so well. I got a 56 percent... and even with the curve that was the lowest possible C (which is not passing). It hit me pretty hard, mainly because of my near flawless performance in undergrad. I was definitely swimming in a bigger pond and had to adapt. I decided that more in depth studying had to be done so instead of letting the poor grade knock me down, I used it to inspire me. I just took the second test for the class this morning. I have not gotten the grade back yet but I am certain that I scored at least 20 point higher on it then I did on my first test. I will let you know what the official score is when I get it back. But here's the point...
I did what had to be done to adapt to my new environment. A millionaire must be able to jump through these hurdles and proceed through the changes life throws. Life is always changing. It is how we react to the change that tells us what kind of person we are.
--A Future Millionaire
Monday, November 7, 2011
Time
I don't need to tell you that time is important. It's something that we can never get more of and it is the great equalizer in all of humanity. Everyone only gets 24 hours in a day. It’s what we do with these hours that separate those that are successful from the rest of the pack. Try and do an inventory of the time you spend doing different activities. These include productive activities like working on a project, doing homework, paying the bills or cleaning. But also include those not-so-productive activities like surfing facebook/twitter or watching TV. If you take a step back and realize how much time you spend doing each activity you can see where all the time goes that seems to slip away.
One of the biggest things we waste our time doing is watching TV. Most of what has consumed our culture is 'reality' TV that really has nothing to do with reality at all. The average millionaire won't be able to tell you who got voted off the island, who got in a fight on the jersey shore or whose the next best singer and dancer. This is because they don't waste their time with it. They read books and do productive things, which is part of what made them millionaires in the first place. Now I personally liked to watch Jersey Shore as a guilty pleasure but I don't even own a TV now, so I have pretty much stopped watching it all together except for sports games like the NFL. My point though is to take a look at the time you spend doing these things and try to minimize it as much as possible. You should do activities that get you closer to your goal and make you a better person. Time is precious, don't waste it.
--A Future Millionaire
Wednesday, November 2, 2011
Where do we Spend our Money?
This is one of the greatest questions we can ask when we start managing our finances. Where we spend our money tells us what we truly care about. Luke 12:34 states, "For where your treasure is, there your heart will be also."
I wrote a post about how all our money is actually God's. We are simply the managers. Since we are managing God's money, we better know where it is going! And we need to make sure that every dollar we spend is honoring God, so that our heart is with God. The first step is doing what the bible says to do with our money! We need to keep track of our expenses with a budget, stop borrowing money and give a tithe. The thing about the tithe is that God doesn't want our money or our stuff. God wants our heart. If all we focus on is getting more stuff then our heart belongs to our things and not to God. Matthew 6:24 confirms this saying, "...you cannot serve both God and money." So although I am on this quest for one million dollars, I will still be giving and still be spending and still be saving but I will do it for the glory of God, not for the accumulation of stuff. If we truly want to honor God, let's start keeping track of our spending and actively see where we are spending God's money. If our spending habits are not where our heart should be, then we need to change them.
--A Future Millionaire
I wrote a post about how all our money is actually God's. We are simply the managers. Since we are managing God's money, we better know where it is going! And we need to make sure that every dollar we spend is honoring God, so that our heart is with God. The first step is doing what the bible says to do with our money! We need to keep track of our expenses with a budget, stop borrowing money and give a tithe. The thing about the tithe is that God doesn't want our money or our stuff. God wants our heart. If all we focus on is getting more stuff then our heart belongs to our things and not to God. Matthew 6:24 confirms this saying, "...you cannot serve both God and money." So although I am on this quest for one million dollars, I will still be giving and still be spending and still be saving but I will do it for the glory of God, not for the accumulation of stuff. If we truly want to honor God, let's start keeping track of our spending and actively see where we are spending God's money. If our spending habits are not where our heart should be, then we need to change them.
--A Future Millionaire
Subscribe to:
Posts (Atom)