Hello,
It has been quite a while since I blogged. Somehow, I don't have any followers except myself. What? Are people really not interested in securing their financial future? If only I had known a long time ago what I know now, I would probably already be half way if not all the way to my goal of $500,000.00 in the bank!
So, if you just became a follower and you read my blogs then you know I have been giving out some advice about different topics on financial stuff. Since I haven't written in a long time I figured it was time for an update on how I am doing financially and a few things that I have been learning and studying.
I believe I mentioned that I was studying "Tax Lien" and "Tax Deed" certificates in a previous blog. Well come to find out there is so much information that you need to know about those two things that I couldn't possibly begin to tell you. Bottom line for me is "it takes money to make money" and currently that means I put that investment idea on hold. I will be tackling it but only after I have secured my income level.
Basically my plan goes like this, I was broke, unemployed, still in debt. I want to have $500,000.00 in the bank..my goal! So, where am I in relation to where I was and where I am now? Well I have a job, I had two jobs (did some seasonal work) around the holidays, and that provided me with some nice holiday spending money. What did I do wrong with that?...I didn't save any of it!!! I get that now. Hindsight and all! So, I still have the one job. I was working 16 hours a week @ $10.00 an hour. I went to my boss and asked him about our original conversation of 20 hours a week. We did an employment review (after all it had been six months) and I passed with flying colors and he granted me the extra hours and I got a raise to $11.00 an hour! Perfect! So, I paid off some bills with the extra money...remember paid off bills actually equals more income. However, I still have a lot of debt to deal with. I have a story for you on that for the next blog to follow. I also used the life insurance rollover option and bought myself a life insurance policy. It's not much $50,000.00 but should something happen to me my kids will have a little something and cost of burial is covered! Something they actually add to your estate when you die! So, by that one task I went from being worth about $1500.00 liquid to $51500.00 Lastly, I had joined the 401K program offered by that seasonal job and although it was only $61 and some change when I was relieved of my job, I took that money and rolled it over into an IRA. So, with some of the money I got from my raise I am contributing to the IRA $50.00 a month. Not a lot of money but now I have $106.00 in it. Add that to my total and I am now worth $51,606.00
Last mention here is another opportunity that came into my life recently. I have a friend who makes money on the internet. Now the old adage "if it sounds too good to be true it probably is" comes into play here. Basically it is a word of caution. So, I spent 45 minutes on the phone with my friend and asked her as many questions as I could think of. She told me she was making $100.00 a day within 60 days of joining this program. It was a goal she set and she is doing it! I was very interested at that point. So, the bottom line is this..I am going to join her program and I will spend $10.00 a month for three months ( she went in @ $200.00 a month and later put in $1000.00). If the program does what it should do then I will have almost made back my money by the end of the third month and by the fourth month will see a very small profit. That being the case I would be willing to invest more money because like I said before "it takes money to make money". I am a see it to believe it kind of girl and I am willing to risk $30.00 to try it out. If it doesn't work then the worst that has happened is that I spent $30.00 and a small amount of time...a loss I am willing to risk.
I guess that is worth a mention too...don't risk anything that you can't live without! If you loan money to family or a friend consider it a gift and don't expect to get it back. All the promises of paying it back are just that...promises, and life happens, and circumstances come along, and promises get broken!!! Make sure you are in a position that if it didn't come back to you it would cause no hardship on you...just don't loan it to them again expecting it returned if it didn't come back the first time! You will have friends for life and less family squabbles when it comes to money if you take this "this money is a gift and if you can pay it back I would appreciate it" outlook on the whole situation!
Wishing you peace and prosperity!
LadyAlamo
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