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Financial Freedom

The one-tweet financial plan

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“Before you speak, listen. Before you write, think. Before you spend, earn. Before you invest, investigate. Before you criticize, wait. Before you pray, forgive. Before you quit, try. Before you retire, save. Before you die, give.” — William A. Ward

That’s right folks. Step right up. Don’t be shy.

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I’m about to simplify your life. Your financial life anyway. A one-tweet financial plan is the way to go.

You see that quote at the start of this blog post.

There, I just gave it to you in the quote stated above. The end.

Just kidding. But seriously, it is in the quote above. I will just expand upon it.

Warning this post is full of tweets! But lots of information. Stay with me! 😉

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WHAT IS A ONE-TWEET FINANCIAL PLAN?

A financial plan that is 240 characters or less and can be sent out in a tweet.

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I know what you’re thinking. Yeah, right. Well, since seeing is believing I will show you exactly what I mean.

Here is my one-tweet financial plan.

And due to the recent government shutdown, I have also created a one-tweet financial plan government shutdown edition. 😉 It’s kind of like how they created the Scrabble game deluxe. You take an already good thing and then just expand upon it and make it even better.

I also like to think ahead to the future and plan for my taxes. You need to save today because the future gets more expensive. What costs a $1 today will cost $1.25 in the future. Plan ahead.

Speaking of Scrabble…

LISTEN

It is one of the best qualities you can have. Being a good listener can lead to lasting marriages, better employment, and happier relationships.

You see #2 there. @mjp2520. Yes, that’s me. 😉

I started reading about personal finance and attending seminars or conferences long before I started writing and tweeting about it. Coming from a place of experience and information gives you a different point of view (POV). That POV can make you an expert in your field. Never underestimate the power of just listening and observing.

THINK

I want you to write down your goals, thoughts, wants, needs, and desires. Like I said before, seeing is believing. Think before you act.

There is nothing wrong with moving slowly or with caution. However, that does not give you the right to move like a turtle. First, think. Then act and move expeditiously once a decision has been made. Move quick. Make haste. Do not overthink it. This can lead to analysis paralysis.

Moving slowly does allow you to more clearly see the path ahead. But once you see it, I want you to run toward your goal. Not walk. RUN!

EARN

You have to earn money to save it. It is just that simple.

I was in debt up to my eyeballs. However, I did not toss my hands in the air and say who cares as I will be in debt forever. Nope. Not me. I chipped away at my debt. Then, I slowly started to have savings. I emerged from the debt cocoon I was in and became a soon to be debt-free butterfly.

I found ways to get rid of my debt. By any means necessary. It didn’t matter if I had to sell items, save my change, get 0% deals on every item I purchased, or stop buying chewing gum just to save a buck.

Once the debt started going away, I had tons of disposable income. Go figure.

INVEST

I cannot stress this enough. Investing can be the difference between you being one of the haves or have nots. I hate to break it to you, but the top earners invest.

Investing is a long game.

I read the wealthy invest up to 20 percent or more of their income each and every year.

The 1 percent are making a killing in the stock market. And you can too.

When I decided I was going to be rich, I turned my attention toward investing. If you want to know where Greenbacks Magnet is investing, then check out my post below. 😉

See my post How I turned a $450 car payment into $100,000

Here are some of my tweets on some good investment books to read.

The wealthy also read A LOT!!!

According to Grant Cardone, CEO’s read 60 books and attend 6 conferences a year. The average person reads less than one book a year. I read that in the 10X Rule.

Read the 10x rule. Took his advice. Set 10x goals and do 10x more action. It worked. Many thanks! Went from saving $10 to $10k a year. #OBSESSED

WAIT

Yes, like the Maroon 5 song. Wait.

Anything worth having is worth the wait.

You know all those overnight success stories you hear? Well, those are garbage. It takes years of hard work, persistence, determination and sacrifice to get anywhere worth going.

All those bands you hear about or people you see on television. They were honing their craft long before records executives starting signing them to deals.

Gene Simmons said he was going from gig to gig in an old van living off hot dogs with his bandmates in KISS.

Pat Benatar left her job as a bank teller to start working as a singing waitress making $4,000 a month before she hit it big.

You know their names now, but there was a time they were broke and unknown.

Success comes from doing not luck. And the toiling to make that success happen, can take years or even decades. So, prepare yourself.

Don’t be like Beetlejuice. Remember that scene in the movie where he took his number and was impatient. It was hilarious. One of Michael Keaton’s most memorable roles.

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The point is that you have to be patient. I do not mean wait forever. I just mean that all good things do take some amount of time.

Don’t be so quick to judge or criticize others, before you know the full story.

“I praise loudly. I blame softly.” – Catherine II, Catherine the Great

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FORGIVE

They say it’s divine.

“Always forgive your enemies; nothing annoys them so much.” – Oscar Wilde

And I make sure to forgive. I always forgive, once.

See my post A Christmas Carol: Lessons in Finance, Business, and Life

TRY

Don’t be a quitter. Try first. You will never know if you have got the goods to make it, unless you get out there and do it. Do something. Don’t just wait to be discovered. Get out there and meet people. Shake some hands. Knock down some doors. Make some phone calls. Just try.

SAVE

This one thing can change your life. Saving. It is the start of all things to come. The act alone is a reflection of who you are and what you value.

The foundation for all your future wealth is derived from this word and your ability to do it.

See my post How Millennial Money inspired me to start saving $13,333.06 a year

GIVE

You give as a way to reach back and help those that come after you. It is a way to show your gratitude for all the things those that came before you have done.

There was a time there was no stock market. Or anesthesia. 😮

Let’s take a little walk down Wall Street.

The NYSE celebrated its 200th anniversary in 1992. Wall Street started under a tree in 1792 with commodities.

The Dow Jones Industrial Average (DJIA) was founded in 1896 with only 12 industrial stocks. Those 12 companies: American Cotton Oil, American Sugar, American Tobacco, Chicago Gas, Distilling & Cattle Feeding, General Electric, Laclede Gas, National Lead, North American, Tennessee Coal and Iron, U.S. Leather and U.S. Rubber. 

My how things have changed. None of those stocks are now part of the DJIA.

The good thing about indexes is that unlike individual stocks, when things go south and a business performs badly or goes under, it is culled. That’s right. They remove it from the DJIA and replace it with another business. Usually one that is performing well. That is the reason you invest in indexes. For the protection against a business going out of business and you losing your shirt!

General Electric (GE) is the only member of the Dow Jones Industrial Average that has been in the index since it’s beginning in 1896. It is being taken out and replaced by Walgreens (WBA) as reported of July 2018. That’s a 122-year run.

They have made it easier for you to invest now than 100 years ago.

Dale Carnegie had to ask his mother to mortgage the house so that he could invest the funds in stocks that he knew. That was how he built his fortune. Remember to invest in what you know.  Earn a fortune and then give it away.

Giving is one of the best ways to be philanthropic.

Remember that part in the movie Troy where Achilles asks his mother if he should go to Troy. And she says to him only if he wants his name to be remembered and live on throughout the ages.

Giving is a way to have immortality.

Case in point, Ms. Oseola McCarty inspired many others to donate to charity as well after she donated her life savings of $150,000 to a college in 1995. How’s that for a swan song? One of the biggest donors she inspired: Media Magnate and Mogul Ted Turner.

So why is it even noteworthy when Oseola McCarty, an elderly woman, donates $150,000 to the University of Southern Mississippi? In the case of Ms. McCarty, it is the heart behind the gift, and the lifetime of effort that went into it. For her act of kindness, she was awarded the Medal of Freedom, the highest civilian honor and got to ring the stock market opening bell.

How about that for recognition in helping others? And she asked nothing for herself or in return. These things were given to her for her charitable contribution to society.

Giving is passed down from generation to generation.

So, if you want to be immortal and have your memory live on forever, one word: give.

Want to know more. Tweet me. I’ll be at @mjp2520 

Xoxo Miriam Joy AKA Greenbacks Magnet 💋

Blogger Interviews, Financial Freedom

A Blogger’s Tale: An Interview with Bitches Get Riches

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It’s almost Halloween! So, I will start this post like the Crypt-Keeper would on the show Tales from the Crypt on the heels of this upcoming All Hallows Eve.

Hello Boils and Ghouls! Tonight’s tale is one of money, sophistication, and women.

Topic du jour: Women who talk money. Who are the ladies behind the riches?

Before I get into the interview, I just want to start by saying this:

Thanks for coming out tonight. You could’ve been anywhere in the world. But you’re here with me, I appreciate that. – Jay Z

So, like Nas says, “Yo sit back, relax, sip your cog-ni-ac” and I hope you enjoy this blog post!

INTRODUCTIONS ARE IN ORDER

Much like Chaucer did, in A Knight’s Tale, I want to make an introduction.

Welcome Ladies and Gents!

And everybody else here NOT sitting on a financial cushion:

Today, you find yourself equals.

For you will all equally receive the same knowledge.

I have privilege, nay pleasure, of introducing you to bloggers, like no others,

Bloggers that can trace their lineage back to 2015.

I first met them at a dinner table near Orlando, Florida,

Waiting for our drinks,

Hoping that our meals would be arriving soon,

As the chips and salsa, were not enough to satisfy our hunger.

Next, Kitty amazed me still further

With her sign language skills and by telling jokes for an hour

Helping us forget we were ravenous

And to not walk across the street to the Shake Shack.

Three hours later, both ladies entertained us with stories

So, that we did not spend dinner in uncomfortable silence.

And so, without further gilding the lily,

And with no more ado,

I give you the Seekers of Financial Independence,

The Protectors of ending uncomfortable silence,

The Enforcers of Getting Rich,

The Ones —

The Only –

Bitches Get Riches!!!

MEET THE BI*CHES

GBM Miriam: It was an absolute pleasure meeting you ladies at FINCON 18 this year! Congrats, on winning the PLUTUS Award for funniest financial blog for Bitches Get Riches. Thank you for stopping by Greenbacks Magnet.

This blog is to help folks learn all things money.

I asked Kitty and Piggy to share their knowledge by answering a few questions and they so kindly said yes.

And thankfully so, I need all the help I can get because I don’t want to have to live in the forest, eat off the land, and use roots as medicine due to lack of money and financial literacy.

After the Dow dropped 800 points, I was strongly considering it, but then, like my sister, I thought if only I didn’t need tampons and to watch Supernatural…

So, here they are dropping gems right here for all to see. In the illustrious words of Sailor Moon, “And that means you!”

Fast Fact: The hand signs that Sailor Moon makes while she says her famous line, “In the name of the moon, I will punish you” means “I love you” in sign language.

Let’s get right into the interview.

BI*CHES START A BLOG

  1. What prompted you ladies to start a blog about money? 

BGR Kitty: We were the first among our group of friends to hit the classic major life milestones–marriage, buying a home, selling our souls in big girl corporate jobs. Our parents and grandparents, bless them, they meant well, but their advice was from another century. So we were always texting each other for advice. We needed help from a peer who’d been there recently. Eventually we realized there was a wealth of valuable information just sitting in our text convos, and we thought, “Hey, why not publish it?”

BGR Piggy: What Kitty said. 

  1. What are your favorite finance books? How come? 

BGR Kitty: Piggy is The Good Child and will give you real answers. But I’ll tell you that I get more out of reading advice that I don’t agree with. Bad advice fires me up. For that reason I have to say The Four Hour Workweek is my current favorite. I haaaaaaaate that book. Myopic, exploitative, and smug. Just thinking about it gets me excited!

BGR Piggy: Oh yeah this is definitely my area of expertise. I am currently reading Brynne Conroy’s “The Feminist Financial Handbook” and loving it. Like, when’s the last time you read a book on money that started with a definition of intersectional feminism? I also can’t recommend enough the classic “Your Money Or Your Life” by Vicki Robin, which is an essential read for anyone pursuing financial independence or just a better life. Then for beginners, I really enjoyed “The Financial Diet” by the brilliant Chelsea Fagan. Last but not least, I am counting down the days until Tanja Hester’s “Work Optional” is released!

  1. What are you reading right now? What’s on your night stand? 

BGR Kitty: I’m currently rereading Y the Last Man. It’s one of my absolute favorite graphic novels. It’s the story of what happens to the world when everyone with a Y chromosome dies suddenly, with the exception of one guy and his pet monkey. A fantastic piece of sci-fi that’s I mean, I love any story with roving bands of crazed misandrists. I also just started White Trash: The 400-Year Untold History of Class in America.

BGR Piggy: I just finished reading “Dietland” by Sarai Walker. It’s a total mindfuck of a book, all about body positivity, subversive feminism, rape culture, and a literal feminist terrorist cell that assassinates rapists and blackmails corporations into eliminating sexist products. If your reaction to that description was “… wut?” then hey, me too!

  1. One thing people may not know about each of you?

BGR Kitty: I don’t get hangovers. (I try not to rub it in the morning after a long night of drinking, but it definitely came up at FinCon.) I also have a genetic mutation that makes my body not process cannabinoids. Finally, I can open ANY jar. Seriously, ANY jar. Given this body of evidence, it’s entirely possible that I am Bruce Willis’s character from Unbreakable.

BGR Piggy: I hate chocolate. Refuse to eat it. When I was a kid my brother and I would divide the Halloween candy between us: he’d get all the chocolate, I’d get all the non-chocolate. He also got all the cavities which I’m sure is unrelated. I also love playing blues covers of pop songs at open mics! Just learned Ariana Grande’s “Dangerous Woman.”

  1. What’s in your wallet? How did you start getting your riches? 

BGR Kitty: I have a net worth of a quarter million. I find that beyond amazing, considering I’m a working artist. Every single lucky break I’ve had in my career has been because someone believed in me and advocated for me. If I were trying to make it in the big city with just my brains and my work ethic, I’d be straight fucked. I’ve had help, lots and lots of help. That’s why I like helping other people! It both feels good and is the only karmically sensible reaction.

BGR Piggy: I love this question, but I feel like Kitty’s question is perfect. Also, the Capital One Venture card is LITERALLY in my wallet. My husband and I paid for a vacation to Portugal for our fifth anniversary using the travel points for that card. It took us about two years of earning the points, which isn’t bad for a free vacation.

BONUS ROUND

Bonus Questions (pick any of the questions from the top or below that you want to answer) 

  1. Any life or money lessons from a favorite movie or TV show you would like to share?

BGR Piggy: According to my favorite movie, The Princess Bride, you should never get involved in a land war in Asia, nor should you go in against a Sicilian when death is on the line.

  1. If you could have dinner with anyone in history, who would it be? Why?

BGR Kitty: Malcolm X, especially towards the very end of his life. He’s a personal hero, and an incredibly complex figure. I’d be so interested to hear his thoughts on the state of America right now. Also, he doesn’t eat pork, and neither do I, so it would be super easy meal planning.

GBM Miriam: On your About Page it states: Who are Kitty and Piggy?

Some people wonder which of us is the Bebop, and which one’s the Rocksteady. But that question is an illusion. We are both Krangs.

So, here is my question.

  1. Why not Bebop and Rocksteady? Why 2 Krangs? Inquiring minds want to know! You said I could ask you anything. Please, no judgment.

BGR Kitty: If we’re going by the 1987 animated series, Bebop and Rocksteady–though lovable–are bunglers of the highest order. We’re strictly bunglers of the second-highest order. Like Krang, we are very goal-oriented. We too have platform dependencies (us, Patreon; him, Shredder). And most of all, we share Krang’s personality: sarcastic and demanding, with an almost admirable abiding pettiness.

  1. If you found a lottery ticket that ends up winning $1 million. What would you do? 

BGR Kitty: I would drive my van to Empire City and stay at Le Hotel with my son in the hopes that I could convince my dead wife’s possessive lesbian ex-servant to chill the fuck out. Hashtag reference! All the kids got it!

The End.

This is where the screen fades to black and the curtain closes. Please ladies take a bow!

Well, we have now come to the end of this interview. That was not only interesting, but also entertaining to say the least. I feel like I just walked out of an amateur comedy night,  open-mic contest!

BGR: Thanks Miriam!!!

GBM Miriam: Thank you Kitty and Piggy for coming aboard!! The next time we see each other the Patreon is on me!

Want more financial and life gems, from the comedy stylings of the dynamo duo of Bitches Get Riches?

Find them on them on their website and connect with them on Twitter at @BitchesGetRich