Archives For Motivation

Poverty, Inc. – 236 DSR

September 4, 2017

“Fighting poverty is big business. But who profits most?”

from povertyinc.org

2015 Documentary Film
Winner of over 50 international film festival honors

This isn’t a film review. More a discussion urging you to examine why you give to foreign aid or any charity for that matter.

1) Who are these organizations? NGO’s, UN, Soles for Souls, World Vision, etc.

2) Am I giving due to a temporary crisis? Earthquake, flood, tsunami, etc.

3) How long after the headlines are over do you pay attention to the recipient country’s situation?

4) Foreign Aid is highly government subsidized.

i.e: The US rice company sends rice to Haiti. Haitians get it for free. The US sender gets money from the government, you the tax payer. Local Haitian rice farmers are put out of business. People become dependent on long term aid (food, clothing, etc). Not to mention the rice company who sends it doesn’t have to compete with Haitian rice farmers in a free market. Monopoly creation.

Recap:
Welfare/charity that isn’t temporary, becomes dependency. This is economic addiction, paternalism, colonialism (pc = democracy).

Institutions in power don’t want poverty to end. It’s a way to control large portions of the population. If institutions who “fight cancer” cured it, they’d be out of jobs.

Resource:
povertyinc.org / Poverty Inc (film)

Get your mind straight. Get your money straight.

Debt Shepherd 2017, All Rights Reserved

8 Hour Work Day – 234 DSR

August 19, 2017

Why do we work 8 hours a day?

The United States Adamson Act in 1916 established an eight-hour day, with additional pay for overtime, for railroad workers. This was the first federal law that regulated the hours of workers in private companies. The United States Supreme Court upheld the constitutionality of the Act in Wilson v. New, 243 U.S. 332 (1917).

The eight-hour day might have been realized for many working people in the US in 1937, when what became the Fair Labor Standards Act was first proposed under the New Deal. As enacted, the act applied to industries whose combined employment represented about twenty percent of the US labour force. In those industries, it set the maximum workweek at 40 hours, but provided that employees working beyond 40 hours a week would receive additional overtime bonus salaries.

8 hrs work, 8 hrs recreation, 8 hrs sleep – Australia

1) Why 40 hrs/week other than that it’s law? We’ve been trained? It’s what capitalism requires?

2) What are your options? Four 10 hr days = 40 hrs week. Be your own boss, set your own hrs? It depends. Can you cut your hours and still serve your customers?

3) Do the math and see at 35 hrs week, could you pay your bills?
If not, look at adjusting your bills. Less house, car, credit card, entertainment.

4) What’s important? If you don’t have kids, do the math and ask those who have kids what they’re really spending. Don’t forget to ask how much $ help they’re getting from family.

Debt Shepherd 2017, All Rights Reserved

You can’t borrower your way out of debt. There’s only one way to get rid of it. Pay it off.

1) What where do I start?
Stop borrowing money. Send your Visa & Master Card divorce papers.

2) Which debt should I pay off first?
Smallest balance first, regardless of interest rate. Pre-paying neutralizes compounding interest on revolving debts.

Take min mo pmt, add 10% of your net pay. Divide that number into the balance of the debt. Divide that by 12. That’s how many months until you pay the debt off.

Example: $1,000 balance. $20 min pmt = 50 mo or 4 yrs to payoff. That doesn’t account for revolving interest, which takes longer.

$20 min mo pmt plus $60 extra. $1,000 balance divided by $80 = 12.5 mos to payoff or 1.5 yrs.

3) What about interest rates?
They’re nothing but rent payments. Interest paid is rent for the use of someone else’s money. They borrower it at, say .50% and they’re lending it to you at 4.5% for house, up to 29% on credit cards. Who’s getting the best deal in that equation?

Closing:
Borrowing money is fast and convenient. Ask why are you doing it your entire life? When does it stop?

Resource:
Piece of paper, something to write with, and calculator.

Get in touch. Podcast page. email or voicemail button.
Coaching is available.

I’m Greg Whitaker reminding you:
Get Your Mind Straight. Get Your Money Straight

Debt Shepherd 2017, All Rights Reserved

As the late Jim Rohn once said, “How can you know good paycheck if you’ve never known bad paycheck?”

1) Take a trip to the poor side of town.

Jim John gave the advice of taking your kids to the poor side of town. Show them how people who’ve made different financial decisions live. Trash in the street, cars up on blocks, yards uncut, houses in disrepair.

2) Why can’t you afford it?

Where does the money go? It goes one dollar at a time on beer, cigarettes, entertainment, fast food, etc.

The cost of our habits add up slowly over time. Financially and physically.

3) Contrast can motivate us to move up, move out or move on.

Nothing wrong with your first teenage years job being fast food, for example. Low pay, hard work. Teaches you responsibility, promptness, team work, dealing with customers (good/bad), etc.
And hopefully motivates you to want to get out of there after a short season. There’s the contrast.

By the time you start your first part time job, you should have most of these skills/experiences already instilled in you by your parents.

If they did a good job of providing you with contrast, and not protecting you from the world, your first part time job should be a much better experience.

Contrast. If everyone was the same, life would be boring. But only if we’ve first experienced everyone being different in the first place.

Resource:
Jim Rohn

Get Your Mind Straight. Get Your Money Straight.

Debt Shepherd 2017, All Rights Reserved

Taking a look at our pay stub and seeing just how much Uncle Sam “steals.”

1) Federal, state, medicare, & social security are all taxes. In my case, it’s federal, Medicare & Social Security. 23%.

Look at these deductions, add them up, divide by your gross income. 1 out of 4 days I work, I receive zero immediate benefit.

2) Property taxes. Do you ever truly own your home, land?

Taxation is the use of indirect force by government (IRS). It is an extraction of your wealth used to expand the size and power of gov’t.

Stop paying your property taxes. Eventually the gov’t will take your home/land.

3) Government doesn’t produce anything in the open market. It is always a liability.

As gov’t grows, so does your tax bill.

My industry, banking, doesn’t produce anything either. It charges interest (rent) for the use of money and charges fees.

Not complaining. Reminding you to reduce your liabilities (debt) so you’ve got more money left to do what you please.

Resource:
Ayn Rand

Debt Shepherd 2017, All Rights Reserved
3

We owe this topic idea to Jonar Nader’s book:
“How to Lose Friends and Infuriate People”

1) What would your workplace be like if you knew everyone’s rate of pay?

From your co-workers salary to your boss.
To the owner’s annual profit.
To bonus’ of everyone including upper management.

2) What if you didn’t get paid unless the company made a profit each month?

Would your attendance improve?
Would you be less apt to take a sick day, even though you weren’t sick?

3) What if before you got hired, your would be co-workers got to help decide on your hire, rate of pay, and saw your credit scores?

Why would these ideas scare you?
Why is our income taboo in America?
Knowing someone’s income seems like seeing them naked for the first time. Why?

Income is social status, zip code, education.
It’s a measuring device we use to make decisions about people, including ourselves.

Resources:
bookfinder.com To find “How To Lose Friends & Infuriate People”
Jonar Nader

Debt Shepherd 2017, All Rights Reserved

We discuss what you are not willing to give up to change your current financial situation.

Debt Shepherd 2017, All Rights Reserved

Change – 220 DSR

March 7, 2017

Change is constant. Here’s three tips to keep you moving your finances in a positive direction.

Debt Shepherd 2016, All Rights Reserved