Welcome back to Money Management Mondays!!! Thank you so much for returning! How is your money-saving going so far? Have you started implementing these tips yet? If so, I would LOVE to hear how it's going! Please leave comments below telling me how much money you've saved, and what you're all doing! I would looove it! (:
Here's the first 3 Money Management Tips!
1. Don't own a smart phone.
2. Don't have a car payment.
3. Don't smoke cigarettes.
And now for#4!
Money Saving Secret #4. I don't play the Lottery.
If you do play the lottery, please do not take offense to this, but instead just listen to my reasoning.
For years, I have stood firm in my belief that playing the lottery is one of the biggest rip-offs ever, and the people who play it (consistently) are not thinking clearly. Then I found in Dave Ramsey's book, "The Total Money Makover", the words that perfectly described how I felt!
"Myth: Playing the lotto and other forms of gambling will make you rich.
Truth: Lotto and Power Ball are a tax on the poor and people who can't do math.
Rich people and smart people would be in line if the Lotto were a real wealth-building tool, but the truth is that the Lotto is a rip-off instituted by our government. Studies show that the zip codes that spend four times what anyone else does on lottery tickets are those in lower-income parts of town. The lotto, or gambling of any kind, offers false hope, not a ticket out."
I wanted some math to back up my belief, so I talked to my sister, who works at a gas station. She sells a LOT of lottery tickets. She sees people drop big bucks on powerball tickets. She has people that consistently waste their hard-earned cash buying scratch-offs. And she feels the exact same way as I do, because she knows how much people spend, and she knows how much they win, and trust me, they are not making money!
She told me about this one guy, who buys $18 worth of lottery tickets every Monday-Friday on his way home from work. Let's do a little math here, if he spends $18 a day, 5 days a week, that's $90 a week. $360 a month! And $4,320 a year!!! Wow! And he dosen't win anywhere CLOSE to $4,000 a year! Imagine if, instead of spending that $18 a day on lottery tickets, he would put it in the bank (if he would put it in a mutual fund, or Roth IRA, he would be making good money on that money, but just for the sake of argument, we are
going to say that he puts that money into the bank). So, if this man puts his $4,320 a year into a Savings Account, (even without counting interest on it!) in 5 years, he will have a grand total of $21,600. TWENTY THOUSAND DOLLARS!!! Isn't that the kind of money that people are trying to WIN when they play the lottery?!! If this man would one day scratch off a ticket, and happen to win $20,000, he would be ecstatic! But little does he know, that if he would just use a little restraint, and a little patience, he is GUARANTEED to end up with the kind of money that he is dreaming about winning (which he most likely never will!!!)!
So that is my little speech on the lottery...if you don't play it (clever person you!), then you obviously don't need to listen to this, but if you are a person who does, just do the math of how much YOU spend, and how much you COULD have! Maybe take all the money you would normally spend on lottery tickets and put them in a mutual fund! That alone could ensure that you retire a millionaire!!!
And there's Money Management Tip #4!
Here's the first 3 Money Management Tips!
1. Don't own a smart phone.
2. Don't have a car payment.
3. Don't smoke cigarettes.
And now for#4!
Money Saving Secret #4. I don't play the Lottery.
If you do play the lottery, please do not take offense to this, but instead just listen to my reasoning.
For years, I have stood firm in my belief that playing the lottery is one of the biggest rip-offs ever, and the people who play it (consistently) are not thinking clearly. Then I found in Dave Ramsey's book, "The Total Money Makover", the words that perfectly described how I felt!
"Myth: Playing the lotto and other forms of gambling will make you rich.
Truth: Lotto and Power Ball are a tax on the poor and people who can't do math.
Rich people and smart people would be in line if the Lotto were a real wealth-building tool, but the truth is that the Lotto is a rip-off instituted by our government. Studies show that the zip codes that spend four times what anyone else does on lottery tickets are those in lower-income parts of town. The lotto, or gambling of any kind, offers false hope, not a ticket out."
I wanted some math to back up my belief, so I talked to my sister, who works at a gas station. She sells a LOT of lottery tickets. She sees people drop big bucks on powerball tickets. She has people that consistently waste their hard-earned cash buying scratch-offs. And she feels the exact same way as I do, because she knows how much people spend, and she knows how much they win, and trust me, they are not making money!
She told me about this one guy, who buys $18 worth of lottery tickets every Monday-Friday on his way home from work. Let's do a little math here, if he spends $18 a day, 5 days a week, that's $90 a week. $360 a month! And $4,320 a year!!! Wow! And he dosen't win anywhere CLOSE to $4,000 a year! Imagine if, instead of spending that $18 a day on lottery tickets, he would put it in the bank (if he would put it in a mutual fund, or Roth IRA, he would be making good money on that money, but just for the sake of argument, we are
going to say that he puts that money into the bank). So, if this man puts his $4,320 a year into a Savings Account, (even without counting interest on it!) in 5 years, he will have a grand total of $21,600. TWENTY THOUSAND DOLLARS!!! Isn't that the kind of money that people are trying to WIN when they play the lottery?!! If this man would one day scratch off a ticket, and happen to win $20,000, he would be ecstatic! But little does he know, that if he would just use a little restraint, and a little patience, he is GUARANTEED to end up with the kind of money that he is dreaming about winning (which he most likely never will!!!)!
So that is my little speech on the lottery...if you don't play it (clever person you!), then you obviously don't need to listen to this, but if you are a person who does, just do the math of how much YOU spend, and how much you COULD have! Maybe take all the money you would normally spend on lottery tickets and put them in a mutual fund! That alone could ensure that you retire a millionaire!!!
And there's Money Management Tip #4!
*Are you enjoying this topic, but feel that you need more? A little extra help and guidance? Don't sweat it! Most people need that little extra push to get them started with something this huge and life-changing! So, I have decided, that in addition to my amazing Money Managing Secrets I will be handing out each week, I will also be offering private financial coaching and an e-course! It only costs $25, and includes: A sneak peek at all my Money Managing Secrets before they are shared on here, me personally helping you figure out your very own personal monthly budget, your own 2013 yearly budget, helping you figure out and identify your financial goals, and then keeping you accountable to those goals and your budget for two months! It also includes a beautiful e-course made by me, that makes saving money fun and easy! If you're in debt and see no way out, no worries, that's included too!!! Only $25 to put you on track to Financial Freedom! If you need any proof that it works; that you can go on the vacations you want, and be financially free, even if you're not making $100,000 a year, just take a look at my story!
Only $25, or 3 payments of $10!!!
If you hurry and sign up before the end of June, you will be able to start July off with your brand new budget!*
Only $25, or 3 payments of $10!!!
If you hurry and sign up before the end of June, you will be able to start July off with your brand new budget!*
Jess' Money Saving Program is more helpful than you would think. I was the kind of person that will save little to no money. If I do have money saved, the first cool thing I see that I want, I will go out and buy it with that money. Leaving me with nothing. I always waited till the last minute to pay my bills, which usually ended up making them all late. I was always stressed out and I hated it! I'm not going to lie, it's a little hard at first to just toss your money aside, knowing you have it and not touch it. But after that first initial month and you see how easy it was and knowing your bills are payed ontime... You just feel so much better about yourself. I personally still do this and plan to keep on doing this. So I live smart now, so that one day hopefully my kids don't have to struggle and they can do good too. This program/ system that Jess has guided and helped me through not only got me into the habit of saving money, but doing it over a month long period so that I was able to have all my bills payed ON TIME!! I was so used to not having any money, that when I set it aside, I didn't think about spending it. "Out of sight, out of mind" as they always say. I am now on my second month of this system, and I feel so much beter knowing I have money saved for bills, fun, a car soon, and money for food and gas. It may not seem like a lot of money at first that you are putting aside, but just like anything else,the little things are what add up the quickest!!! This plan works, and I am so glad that I had Jess to help me and give me a little peace in my mind from those very things that I know stress out everyone else too.
~Nick~ (Age 24, Ohio)
~Nick~ (Age 24, Ohio)
Thanks again guys! Hope you enjoyed it, and hope you're getting a lot out of this! Please like this on the fb button below, tweet it, and share it with your friends! Thanks so much!!! (:
Peace Love and MMM
Jess <3
Peace Love and MMM
Jess <3
