Posts Tagged ‘finance’

Financial Insecurity To Help Others

Wednesday, August 13th, 2014 by

I was reading a story today of a person who really wanted to start their own business as ultimately they want to help others. However, financially this would cause the person potential hardship as whenever you create your own business you are in that not knowing when your next pay cheque will be scenario when you start out. A comment was then thrown out that if you helped one person in the world then it would be all worth it. That’s where it seems the conversation got a little messy.

I think financially speaking the reality in these cases are that as good as you may feel your cause is you have to have a plan to take care of yourself financially as opposed to assuming that the universe will equally reward you to keep you afloat. It’s one of those things where you can dream big but still need a realistic action plan I guess you can say.

I have one project for example that has pretty much cost me time and money where I made it to help people. However, I did that knowing that I have other things in place to enable me to do so. It would have been crazy for me I think to say drop everything with no form of income stream believing that my good deed will automatically mean people will support me financially so I can keep doing it. I probably would have had to close it a long time ago in that case. Instead, this way I can still do that without putting myself in a financial pickle. Need to make sure you are okay yourself first before you can help others.

Having Those Residual Income Sources Due To Time

Sunday, August 10th, 2014 by

Time just flew by today as I found myself spending hours non-stop working on a project where since it was for a volunteer event I don’t exactly make an income out of it. That then made me think how fortunately I do have residual income sources and that this is something that everyone should try to establish in their lifetime I think.

It’s definitely harder where the gain may not seem as much initially, but at times like these it sure is a sensible way to give yourself the flexibility to do other things as well. There is so much variety you can choose from nowadays too in terms of partnering up with businesses to sell their products or services in such a way where you can get repeat commissions for your effort. I think the harder part is simply deciding what it is you want to do in regards to say a home business.

If anything, even writing an E-book can constitute as making something that can generate residual income for you. You just need to get started.

Spending So Much To Find Love Later In Life

Saturday, July 26th, 2014 by

I was reading an interesting story today about a person named Dr. Emil Chynn who apparently went with the life route of making sure your career is all good first so that you will be financially ready for love and to start a family. Apparently he hasn’t had much luck and even went to extremes such as offering to give away cash in the five figure range if someone introduces him to a match.

That’s kind of interesting to think about in terms of how much money one would potentially spend to find a mate later in life versus how much simpler it probably is when you are at a young age. Then again, maybe this is simply the case of someone working too much continuously and not taking the time to meet people. I was thinking too, is it inappropriate to think of this kind of stuff from a financial point of view?

Example, the other way to think about it is you take the priority in finding your match first and then build your wealth together. This is as opposed to two people trying to make it on their own and then hoping later down the road they meet someone of an equal level. Money and finance isn’t so straight forward when it comes to life direction huh?

Seeing People Spend Money Like Water

Thursday, July 24th, 2014 by

I saw this interesting video today of a proposed reality show to be shot here that revolved around “Ultra Rich Asian Girls” of Vancouver. I guess you can say it seems to be going in the direction of all of those “Real Housewives of” shows where people get to view the drama revolving around rich people. This was the trailer I saw:

For the most part it seems like they are trying to find people who essentially inherited a lot of money and as a result are pretty carefree with the way they spend it. What caught my attention are the comments that people made such as how showing stuff like this will simply encourage people to be irresponsible for money. That got me thinking, does seeing things like this actually influence you to spend less or more in your life?

I know for myself, seeing things like this ironically makes me not want to be irresponsible with money. Am I the only one that thinks it’s silly for example to see someone buy such expensive things where they don’t seem to even think about the future or what would happen if they lost all their money one day? In that sense, it’s almost like it’s a free life lesson and in some ways is no different than reading stories of people who are say addicted to a certain substance. Like there, no matter how much you try to glamorize it I would think seeing it would discourage you from following that path.

It Takes Facts About Interest Payments To Change People

Tuesday, July 22nd, 2014 by

I saw this interesting clip today of a couple who was essentially getting financial advice to help them get out of debt. The story itself wasn’t anything new as it was simply a case over spending and buying high luxury items. When the financial adviser went over their spending habits the funny thing was they seemed kind of contempt with it as if it was normal. Speaking for myself, putting like $15,000 on your credit card that you can’t pay off is alarming by itself.

It wasn’t until they dived into the topic of how much credit card interest they are paying each month where it finally dawned to the couple that things need to change. Isn’t that kind of crazy that it takes that little detail to get people to change their financial habits? It almost comes back to the general point on how many people don’t like to see other’s benefit where in this case it made them realize how the credit card companies got money from them. Before hand, I guess it is safe to say that they saw the situation as they were the one’s getting the better deal out of the credit card company.

I am almost interested in trying that technique to see if it works on others too for everyone that has an outstanding credit card balance each month. It’s like you don’t even need to go into detail to get people to think about their future. Instead, just show them how companies are making money off of them and it will be an instant change in mindset.