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A move to Louisiana, 7th child due in 2 days, just got back from the emergency room with chest pains, and I wait until now to start posting again!
All I can offer up to my devoted readers and fans is a sincere apology… I’m Sorry.
I just sat down yesterday and reread the e-book I wrote titled “The 7 Immutable Laws of Building True Wealth” and realized that now, more than ever I am resolved on the tings I have come to believe. The only problem is that something is wrong with the autoresponder software I installed on my server, and I dont think anyone can download it any more… I’ll have to fix that.
I also just updated WP on my server so I could start posting again.
Anyway, with that said, this is still a different kind of personal finance blog. I’m picking up where I left off, and am going to through a few curveballs in from time to time.
One thing I’m going to do is keep you posted on my escapades as an internet marketer… and my other entrepreneurial endeavors, hopefully I’ll be able to share some fun things with you that will help you on your journey to financial independence.
Here’s what to expect from this Blog in the future:
Updates on what I do and am doing to make money as an entreprenuer.
My unique take on the latest financial news.
and, many other ‘true’ wealth preserving tips and strategies…
Stay tuned… I’ts going to get fun… I promise!
MJB
No TagsNo TagsWell, as you know, I just tried my hand at creating a Hub on HubPages.com in an attempt to get my online monetization strategy away from solely this blog. Boy, was I exited!
I built the hub by splitting up the content that was provided to me by Mvelopes, one of my affiliate partners, across multiple “capsules”. I left all of the affiliate links in place.
I then proceeded to do the bookmark thing and watched in excitement as both my Hub Score and Hubber Score increased (100 being the highest score).
It was only moments after I finished my submissions that I received an email from the HubPages Admin saying that my Hub was “overly promotional”. I went from exited to peeved! I mean I had come across other hubs that obviously were intended to drive traffic to another site, but I guess mine was over the top.
To ad insult to injury they flagged my other hub, which only had my last five blog posts aggregated, with the same message!
So, I did a major overhaul of the Hub designed for Mvelopes, and added multiple other site links to not appear to be favoring the Mvelopes links. I submitted for republishing, and got approved, but, my scores dropped into their 50’s.
Well, thanks to the links I submitted, my scores are back up, but I couldn’t find a reference anywhere in the terms of use that the admin directed me to that stated that sites could not be “overly promotional” or have more than 2 links to any one site.
Anyway, I still believe HubPages has value in driving traffic to both my blog and affiliate links, I just will try to be more editorial in nature and and keep links to two.
You can visit the hub here: Free Budgeting Software
No TagsNo TagsCheck out my new Hub @ Hupages.com: Free Budgeting Software.
I was able to build the hub rather quickly after figuring out what could and couldn’t be done. I’m still workin’ out the kinks though.
I’m trying to extend my monitaztion strategy outside of the blog alone. I think I have a solid plan.
I did notice that the more I bookmarked, the higher my hubscore went. Hopefully it will spil over into some PPA clicks. I’ll keep you guys posted on my progress.
No TagsNo TagsWhile on the search for the ever elusive Google PageRank through backlinks, I stumbled upon a really cool PageRank Button that displays your current rank for each page. I placed mine at the top of my sidebar in the RSS Section.
The site to get the code is www.PRChecker.info, there’s 3 different buttons to choose from:
I know that they’ll be two schools of thought on this one:
Well, be that as it may, I want to see it improve, and cant wait till my site gets a PR1, LOL!
Please comment and tell me your thoughts.
No TagsNo TagsI have over recent years fancied myself to be a real estate investor. I have developed a rather simple and straight forward way of locating, rehabbing, and selling houses that has proven profitable and effective, though not always for me.
In my endeavor to become a house flipping mogul I have learned some valuable lessons about my personal character and the general character of other human beings as it relates to money.
I will share a little about my learning curve, as it where, but the main focus of this section is to specifically deal with personal home ownership. The process I developed, little did I know, would be exactly what I need as I make certain transitions in my life, and can also serve as a template for others looking to own their own piece of ground to establish a home base.
First let’s look at the rather unfortunate trend that exists today as it pertains to the purchase of the average single family home.
The Bigger the Home the Better – My issue with this philosophy is that it is a very purposeful trend to separate the family unit into individual space. This aides and empowers personal selfishness and isolationism. It was refreshing to witness Jim and Michelle Duggar (www.JimBob.info), build a large home for their 16 children (featured on TLC), and arrange the living space in such a way that the boys and girls had separate dorm style sleeping quarters.
Focus on Payment Affordability – It’s no secret that the lending practices of the largest mortgagees in our nation were flawed. The problem that has arisen from the “cheaper payment” loan could have been solved with simpler living desires from most families. I too was a huge evangelist for these types of loans, but they only work for the more disciplined and financially capable. One hiccup in financial life (like my family has experienced) and you loose your home.
Finance it to the Hilt – Another principle I personally taught that is only sensible to the most knowledgeable and financially disciplined of borrowers. Consumption of equity is just silly unless there is a thoroughly laid out financial plan. Likewise, if you have zero cash reserves, you shouldn’t be buying a house.
I have now come to be convinced that a fundamental shift in our home ownership paradigm is necessary in this country. How did earlier generations make it with the entire family living in a 1 or two room house?
For all of our ridicule and scorn of immigrants to our country, it amazes me how they have no issue with a couple of different families pooling together their financial resource while living in the same house. The use this strategy to start businesses, buy cars, and more houses.
I recently did a search for houses under the $50,000 price range in Nashville and found 34 houses! With as little as $15k - $20k most of these hoses can be made very comfortable. The majority of these houses are also in re-gentrification areas, which means the neighborhoods are being improved. Yuppies that have the money have no issue nowadays living next to a crack house because they have the patience to wait for their investment of $80k to grow to $200k in a matter of a few years, especially if they are near the very desirable downtown area.
No TagsNo TagsFor our purpose, it is not important for us to spend time in the exploration or identification of what you can do to start or have a home based business. But, rather, I believe, it is far more imperative to discover the “whys” to starting a home based business. “If the ‘why’ is big enough, the ‘what’ is easy!”
I remember reading a study back in 1994 that discussed the role that secondary incomes (usually that of the wife) played in the overall financial stability of the family household. In this study, it was discovered that because of factors like the need for secondary vehicles, workplace appropriate wardrobes, convenient meals (eating out & fast food), increased taxes, and childcare, that less than 20% on average of that second income was able to be directly applied to the needs of the household.
Now, if you contrast that to a spouse working from home, either in support of the other spouses business, or in their own endeavor, 100% of the net income is able to be utilized in household needs because these necessities are eliminated.
This is in line with Proverbs 31 principles:
16 She considereth a field, and buyeth it: with the fruit of her hands she planteth a vineyard.
24 She maketh fine linen, and selleth it; and delivereth girdles unto the merchant.
One of the other and perhaps most attractive reasons to have a home based business is its unique ability to allow the entire family to participate in its operation. Unlike a traditional 9 to 5 J-O-B, the home business is not restricted to the family member with the most skill in an area of vocation.
The Discovery Channel did a series of documentaries on families with 12 or more children, one of which included the Arndt Family of Illinois (www.FamTeam.com).
Rick and Cathy Arndt own and operate a court reporting business in which all of their older children assist in the management and function of. They also put on a yearly baseball fundraiser that attracts local media attention where all 14 of their children assist in the organization, operation, monetization, and promotion.
More and more families that own home based businesses have realized the manifold benefits of making it a family affair including the tax free income children under 18 can receive for tasks from office cleaning to light bookkeeping.
Over the last nine years of our marriage, I have remained an entrepreneur and my wife has always assisted me with the accounting, decision making, and operations of my various businesses. She has done this while maintaining her own list of accounting, bookkeeping, and tax clients.
To this day she remains my biggest fan, consultant, supporter, encourager, and best friend.
On the other hand, the monetary benefits to a home based business pale in comparison for those families who simply want to have a closer knit and more intimate family.
For these “homeprenuers” any realized profit is simply a byproduct of an expression and exploration of the interests and hobbies the family as a whole may share, in which these become a reason to do more together and pay the bills at the same time.
Another “unfair” advantage of family involved home businesses is the unlimited travel and working vacation opportunities available. Much like our friends the Scott & Mary Stroud at www.HomesCoolKids.com have experienced. Be sure to visit their Blog HERE!
I for one can honestly say that since I have moved my business operations into my home, I have thoroughly enjoyed the time I can spend with my family daily. My wife and I have enjoyed our new daily ritual of drinking coffee on the front porch and talking in the mornings. And, being able to hold my little ones and kiss them when I want to is without equal… priceless.
Much like the definitions I offered earlier for words that have far different origins and basic application than is modernly implied or accepted, the term “Financial Freedom” or financial independence bares a good “once-over” as well.
In today’s culture, if someone is considered financially independent, it is usually accompanied by the pointing to certain possessions they have obtained, and an annual passive income toppling $100k or so. However, I challenge you to think a little differently.
Let’s say it legitimately takes you $48k per year to adequately care and provide for your family, or $4,000 per month. I would consider you financial free when the income from a home based business would match that amount. Even more so if you were able to consistently find ways to reduce your monthly expenses without sacrificing the overall well being of your household.
Being Financially Independent or Financially Free is not an amount or an account, but rather the exact point at which your monthly income from doing something you love or are passionate about is able to meet the needs of your household, and that income is not dependent upon the traditional trappings of a corporate environment.
I believe we all can stand to benefit from an endeavor to be Financially FREE!
No TagsNo TagsAfter I wrote the article, The 7 Immutable Laws of Building “True” Wealth, I have often thought about whether or not I had truly embodied all of the “laws”, as it were, that one can implement and find himself or herself on a journey towards building lasting “true wealth”. It was then that I realized that a major component was left out.
Also, after watching “The Secret”, a “new age” spin on the popular book “Think and Grow Rich”, I realized that it’s overly simplistic explanation of “The Law of Attraction” (if there is such a thing) was no more than positive thinking on steroids. And, when you mix that with a “genie in the heavens” view of God (or the “Universe” as they generically refer to the Creator(s) of all things), you have a trite theory that leaves out a major aspect to achieving any type of true success…
“Be not deceived, God is not mocked; for whatever a man sows, this he will also reap.” – Galatians 6:7 NAS
Combine this with:
“The earth brought forth vegetation, plants yielding seed after their kind, and trees bearing fruit with seed in them, after their kind…” – Genesis 1:12
Even greater than “the secret”, this very simple and yet extremely profound principle is the very bedrock of every person, company, or nation that has ever experienced any type of “success” or achievement of what others might label as extraordinary. Let me paraphrase it this way:
“Every specific action you take produces a very specific, predictable, and measurable result. Therefore you should neither blame anything else on the result, nor expect different results than your actions warrant; because, this is God’s purposeful design that must come to pass.”
Here are a couple of other key texts that elaborate on this simple law, and my subsequent rephrasing:
“…He who sows sparingly will also reap sparingly, and he who sows bountifully will also reap bountifully.” – 2 Corinthians 9:6 NAS
Stated a little differently:
“If you put in limited effort, you should only expect the limited results you deserve, but, if your effort is at the absolute possible maximum you can do, then you have every right to expect the maximum result!”
“There is an appointed time for everything, and there is a time for every event under heaven… A time to plant, and a time to uproot that which has been planted…” – Ecclesiastes 3:1-2 NAS
Combine this with:
“Let us not lose heart in doing good, for in due time we will reap if we do not grow weary.” – Galatians 6:9
Let’s put this into modern terms:
“If you are doing the right things… and putting forth the activity that will produce favorable results, - then, don’t be discouraged when the results that you know are coming don’t show up right away, and don’t quit doing what you are doing. Because… there is a specific time to put in the initial work and effort, and a specific time after that to realize the reward for your efforts. You can’t do one, while doing the other.”
“Behold, the sower went out to sow; and as he sowed, some seeds fell beside the road, and the birds came and ate them up. Others fell on the rocky places, where they did not have much soil; and immediately they sprang up, because they had no depth of soil. But when the sun had risen, they were scorched; and because they had no root, they withered away. Others fell among the thorns, and the thorns came up and choked them out. And others fell on the good soil and yielded a crop, some a hundredfold, some sixty, and some thirty.” – Matthew 13:3-8 (Mark 4:3-8, Luke 8:5-8) NAS
Simply put:
“Take a special notice to the fact that as you work hard and put forth your efforts, - the inevitable, natural challenges and difficulties of this life will come. But, the return on those same efforts far outweighs any challenge that you will face.”
No TagsNo TagsIn a couple of recent posts to MoneyBlog, I have begun to explore the concept of “true” wealth, and what it means to be “Truly Wealthy”. By now I’m sure that you have figured out that I’m not referring to the very popular global view of fame, fortune, and a limitless existence where nothing is beyond your purchasing ability.
An interesting fact to take notice of is the lifestyles of those select and elite few that have attained the status and possession that we, mere mortals can only dream of. The endless scandals, corruptions, infidelities, divorces, improprieties, and suicides committed by celebrity actors, musicians, politicians, and clergy – should be more than enough for us to begin to question not only whom we chose as role models, but also the very things they posses that we fantasize about.
These things obviously aren’t enough to produce the internal peace, happiness, and joy that we all so desperately desire.
Let’s begin by exploring some simple definitions. (go to www.Dictionary.com)
Wealth – an Old English word that means “well being” – this word began to be associated with money when English commoners began to look at the limitless lifestyles of the Royals and associated such riches with well being.
Prosperity – means the state of prospering. To prosper in Old Latin means to go “according to expectation”. This word was more commonly used in relation to crop farming and animal husbandry.
Asset – in modern usage an asset is a useful or desirable possession that is easily converted into cash. It however originated in Anglo French from assez which means “enough”.
Success – an attainment of wealth, position, or honors. It’s origins are from the Latin word successus which means “an advance, succession, or happy outcome”, also from succedere (succeed), meaning “accomplishment of desired end”.
Riches – having wealth or great possessions. However, it originates from both the Old English word rice which means wealthy (in the modern sense) and powerful, and the German word reich (as in Hitler’s Third Reich) which means to be a ruler or powerful. So… do you really want to be rich?
My primary point here is to help you see the truth behind our aspirations for “wealth” or “riches” and what we are really saying when we declare our desires for the same.
Someone who proclaims a desire to be wealthy often overlooks the “true wealth” they already posses and the exponential leverage that can come from investing the right resources in those things. However, it is my opinion that what most people mean by a desire to be wealthy, is not to be in a state of “well being” which has nothing to do with money or possession, but rather, they may in fact be speaking to their desire to be “rich” in it’s truest sense, and obtain the “power” and nobility that comes with it.
In the same manner, I believe that the vast majority of us (especially in western society) overlook the “assets” we posses. I am of course referring to assets that supersede cash. Emotional Assets, Physical Skill Assets, Intellectual Assets, Relationship Assets, Social Assets, and Civil Assets head this list.
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