Archives For Personal Finance Education

What is Money? – 256 DSR

October 28, 2018

What is money? It’s probably not what you think.

Two questions:
What is money?
What is the Fiat money disease?

Quote by John Maynard Keynes, Father of Keynesian Economics

Homework. Look up:
Depository Trust Company
Cede & Company
Stock

Resource:
itmtrading.com

Close:
Check out the podcast page debtshepherd.com if you’re interested in a rapid debt elimination consultation. That’s what leads to coaching. Thanks for listening. I’ll see you in the next episode.

Get Your Mind Straight. Get Your Money Straight.
Copyright 2018, Debt Shepherd, All Rights Reserved

Why the gov’t can’t operate without continuing to borrower money.

Resources:
End The Fed – book
The Creature from Jekyll Island – book
Trump’s Tweets End the Myth of Fed Independence – article

Get Your Mind Straight. Get Your Money Straight.
Copyright 2018, Debt Shepherd, All Rights Reserved

What do the 4th of July and getting out of debt have in common?

4th of July –
America celebrating independence from a tyrannical king. Getting out from under outside control of another nation and person.

Declare Independence from Banks –
I thinks it’s safe to say The 4th of July is an analogy Debt Shepherd can use. Breaking away from the power, control, dependency we have on banks. Not paying rent for the use of someone else’s money (interest) all our lives.

Saving –
I recently heard a speaker say “You can’t save your way to wealth.” That’s true because of the hidden tax of inflation. As time goes by, your dollars have less purchasing power due to rising prices. Rising prices are due to increase in money supply.

Investing –
If saving can’t get you wealth, what can? Investing in something that is getting you a high enough rate of return that not only beats the rate of inflation but then some.

Resources:
Rich Dad Poor Dad (book)
The Creature from Jekyll Island (book)
The ABC’s of Real Estate Investing (book)

Get Your Mind Straight. Get Your Money Straight.
Copyright 2018, Debt Shepherd, All Rights Reserved

What do people in power consistently use to keep people divided against each other?

Disclaimer:
Topic I’ve never covered. You may be offended. Not my intention and this isn’t an apology. It’s a call to rational thinking and intellectual curiosity.

Understanding Division:
Not talking about math. Today it’s about your mindset. Thinking about things that are uncomfortable.

What do people in power consistently use to keep people divided against each other?
Skin color staple for decades in The US. The civil rights act of 1964.
Now it’s anything at all: sex, gender, tolerance: especially if you speak out against Radical Islam or Muslims. Guns. Abortion.

Dinesh D’Souza’s YouTube lecture: D’Souza exposes the secret history of LBJ.
Quite the eye opener.

Why do they want us divided against each other? Very easy. So we won’t see the real reason nothing ever really changes no matter who is in office.

Questions:
What if racism is a smokescreen?
What if the real division among us is financial?
What if the real division among us is class? Class warfare. The essence of class struggle.

They keep us divided against each other to stay in power.
Racism invokes emotion. They want you to vote emotionally, not logically. Emotion is reaction. Logic isn’t.

Resources:
Dinesh D’Souza
Jim Goad
Candace Owens
Michael Tsarion

Get Your Mind Straight. Get Your Money Straight.
Copyright 2018, Debt Shepherd, All Rights Reserved

1+1 & 2-2: 251 DSR

May 20, 2018

Getting out of debt is simple math.

The Simple Math of Getting out of Debt
Simple? Yes. Easy? No.
The going into debt side: $1 of debt plus $1 dollar of debt = $2 of debt.
Fast, easy, and debt can stick around a long time.

The getting out side: $2 of debt minus $2 of debt = $0 dollars of debt.
Can be time consuming, slow, and sometimes seemingly endless.
No magic, just simple math.

Your biggest enemy in this process? Your mind (ie: your habits, what/how you think about money).

What is debt?
You selling your future labor today. Contracting your labor into the future. You sign the contract (note, credit card agreement, etc) promising to make future payments. Those payments are a result of your labor.

Not only do you repay the principle balance (purchase price), you repay interest payments on top of that.

Wrap:
Before borrowing the money ask yourself, “Is there another way to get what I want without borrowing?” Wait longer, save the money, trade, barter, etc.

Food for thought: When animals hunt the food they need, they don’t stock up for future use. They typically gather what they need, eat, and then hunt another day. No stockpiling, which is what borrowing is.

Resource:
The Richest Man in Babylon – George Clason

Get Your Mind Straight. Get Your Money Straight.
Copyright 2018, Debt Shepherd, All Rights Reserved

Just because you pay taxes to the government doesn’t mean it’s employees “work” for you.

Local Gov’t – police officers. Do they work for you? Try telling them what to do, when to do it, and how to do it. That’s what they tell you.

Your taxes pay their salaries, yes. And you don’t pay taxes voluntarily. You pay them by force of law. Punishment up to and including incarceration. That’s taxation by force. They’ll take your home and anything else they can legally seize (cash, cars, RV’s, etc).

Close:
Question your assumptions. Question what you’ve been taught. Question what you think and why.

Resource:
www.dnb.com
Dunn & Bradstreet. Business search. These are registered corporations. Type name of your local gov’t entity. “District Court of…” “State of….” You’ll be surprised what you find. Every city, county, and state is a corporation. You may live there but the gov’t. Employees don’t work “for” you even though your taxes pay their salaries.

Get Your Mind Straight. Get Your Money Straight.
Copyright 2018, Debt Shepherd, All Rights Reserved

“The less money you have, the more wisely you need to manage it because you don’t have as much room for error.” – Dave Ramsey

Dave Ramsey – How The Lottery Can Ruin Your Life

Get Your Mind Straight. Get Your Money Straight.
Copyright 2018, Debt Shepherd, All Rights Reserved.

401 contributions. It’s never too late to start.

3 years on job, $7,500 in 401k no contribution from me. 3% contribution from me at next enrollment. Auto deduct from check.

IRA rollover:
Quit job, another employer, another 401k company. They make money off fees and investing your money.

You contribute pre-tax dollars to the account.
When you withdraw at retirement you get taxed.

Close:
Earlier you start, the more it grows.
Get used to the deduction and you won’t miss it.
Talk to your 401k rep. Charts on how much can expect to have at quitting time. Don’t just guess.

Resources:
Finance and Markets – Casey Stubbs

Get Your Mind Straight. Get Your Money Straight.

Copyright 2018, Debt Shepherd, All Rights Reserved.