Financial information is the key to change.

Unfortunately, for most of us, basic financial information is not taught in schools. We live in a country that continues to pass out diplomas to people who lack healthy financial skills, creating a society not prepared to handle the financial ups and downs of everyday living. The road to financial freedom is paved with information; join me on my journey.



Lucille Tyler Baldwin

Author of "Sick and Tired of Being Broke"

lucybaldwin27@yahoo.com





Showing posts with label money. Show all posts
Showing posts with label money. Show all posts

Tuesday, February 18, 2014

The 2014 Money Saving Challenge



 MONEY - SAVING - CHALLENGE!
  How long does it take to form or change a habit?  I have no idea - I just wish that there was a magic wand or potion that could make me instantly develop good habits.  I would drink a language cocktail so that I could speak Spanish fluently, and a double exercise cocktail so that I could have a beautiful flat stomach. 


  Since there are no magic potions it will be necessary for us to take a leap of faith and depend on ourselves.  I need volunteers to participate in the challenge (I am looking for my Miller Homes family from New Jersey to participate!) 



     If you are interested in forming a habit of saving money - then take the challenge.  Leave a message in the comment section.  If we share DNA I am also looking for you to take the savings challenge.  If we are of the same gender "ladies" then I am looking for you to take the challenge. I am calling all men - I challenge you to take the savings challenge.       



     What will we have to show for our lives if we never keep a portion of what we earn?   Are you content with the state of your finances?  Do you have money set aside for emergencies?  Have you started saving for retirement?  How about the children that you love - have you started a college fund?

   We are never too young or too old to get started.  No amount is too small.  At the end of each day I need EVERYONE - this means YOU! - to start cleaning out your pockets, handbags, purses, book bags, and find all your loose change.  Did you know that if you save an average of $1.37 a day at the end of the year you will have $500.00? 

     I need EVERYONE - YES YOU - AND YOUR KIDS -AND YOUR SISTERS - AND YOUR BROTHERS - AND YOUR BFF - to find a mason jar, a box, a bag, or a bank and start saving your loose change.  We have the remainder of 2014 to develop the habit of saving a portion of what we
earn. 

MONEY-MONEY-MONEY-MONEY-MONEY-MONEY-MONEY-MONEY
  


THE FUTURE IS COMING - IT WILL REQUIRE MONEY TO LIVE IN IT!


Tuesday, February 11, 2014

Retirement is for Old People.



    


     We will die young or eventually reach the age of retirement.  Young people believe that retirement is something that only happens to old people.  Guess what?  At the end of each day you are one day closer to "old age" and one day closer to reaching the age where people start to retire.


     No worries old age is for "old people."  No need to think about growing older or how you will eat, live or pay your way - those concerns are for "old people."   NO WORRIES - The money will come from somewhere!


The Reality


       According to the Social Security Administration, if you randomly take 100 people at the start of their working careers and follow them for 40 years, at retirement age:


1 will be wealthy,


  4 people will be financially secure,


 5 people will continue working out of need,


36 will be dead, and


 54 will be dead broke depending on their Social Security checks, family, and even charity.


   


         Because of a lack of knowledge and naïve assumptions, Social Security has unfortunately become the main source of income for almost 50% of retirees.  In reality, a monthly social security check will only replace about 40% of a worker’s earnings, and alone may not even provide a standard of living above the poverty line.  Nevertheless, according to the US Department of Health & Human Services, 96% of all Americans will retire financially dependent on the government, family or charity.  






     http://finance.yahoo.com/news/retired-and-broke--social-security-can-t-support-seniors-forever-212744627.html



Wednesday, November 20, 2013

TAKING CHARGE OF YOUR MONEY

in 2018

The wealth gap between the haves and the have-nots in this country continues to widen. We are fast approaching a new year. Do we continue using the same kind of thinking and actions in the new year that has prevented us from living debt-free and creating wealth?

Do we continue feeding our minds with chaos such as reality television shows that teach us that behaving badly is okay, movies that teach our children how to become the next jack a** stars, or shows that teach our daughters that being a bad girl is cool? Do we continue spending billions of dollars on violent video games that seem to sap our children of creativity, respect and patients?

Do we continue to stand in long lines on Black Friday to spend borrowed money? Do we continue creating debt that will take us years to repay? Do we continue putting on a happy face pretending that life is great? Will we spend another year thinking of reasons not to take charge of our financial situation? Will we spend another year helping to create additional wealth for the haves?

It is time for us to take charge of our money, reduce our debt and start paying ourselves.



Lucille Tyler Baldwin

Monday, November 15, 2010

Future Millionaire: Young and in Charge

I really enjoyed the last few days. I had the pleasure of meeting opened minded women ready to take charge of their finances. I was invited to participate in a financial education and spa day for women. They received information during the day and after lunch the women were pampered with: pedicures, manicures, back massages, head massages, facials, and Mary Kay make overs. The women were pampered while sipping sparkling wine and snacking on light refreshments that included: fruit and, of course, cheese and crackers.

You know I am always talking about finances, so I was sooooo pleased to meet a 19-year-old woman who was already taking charge of her money. This young lady participates in her 401(k) at work, is already saving for retirement with an IRA, and she understands the value of keeping her consumer debt low. Not only was she taking charge of her money, but she was also encouraging her best friend to be responsible with money.

I was curious to know how she learned at such a young age to be responsible with her money. She said, "when anyone talked to me about finances, I listened and took the information to heart." As adults/parents we can teach our children how to become financially responsible.

The best way to lead is by example!  Do you need help learning how to take charge of your money?  Then order your copy of "Sick and Tired of Being Broke."  The path to financial freedom starts with financial information.

Lucille Tyler
Author of "Sick and Tired of Being Broke"
http://www.thejourneytowealth.blogspot.com/

Friday, November 5, 2010

Destiny Created

"You Cannot Escape the Responsibility of Tomorrow
by
Evading it Today."

Abraham Lincoln

*



Lucille Tyler Baldwin
Author of "Sick and Tired of Being Broke"

Wednesday, October 20, 2010

Our Deepest Fear


"Our deepest fear is not that we are inadequate.
Our deepest fear is that we are powerful beyond measure.
It is our light, not our darkness that most frightens us.
We ask ourselves,
Who am I to be brilliant, gorgeous, talented, fabulous?

Actually, who are you not to be?
You are a child of God.
Your playing small does not serve the world.  There is nothing enlightened about shrinking so that other

people won't feel insecure around you.
We are all meant to shine, as children do.

We were born to make manifest the glory of God that is within us.
It's not just in some of us; it's in everyone.
And as we let our own light shine, we unconsciously give other
people permission to do the same.

As we are liberated from our own fear, our presence
automatically liberates others."

Marianne Williamson

Lucille Tyler Baldwin
Author of "Sick and Tired of Being Broke."
http://thejourneytowealth.blogspot.com/
lucybaldwin27@yahoo.com

Friday, October 15, 2010

Are You Preparing for Retirement?

                 

According to the Social Security Administration, if you randomly take 100 people at the start of their working careers and follow them for 40 years, at retirement age:
  • 1 will be wealthy,

  • 4 will be financially secure...

Lucille Tyler Baldwin
Money will not suddenly appear because we are older -
Do not wait until tomorrow - start preparing today. 

Get your copy of my new book "Sick and Tired of Being Broke"
Available at:  http://www.buybooksontheweb.com/
http://www.thejourneytowealth.blogspot.com/
to contact the author for questions, comments or to order signed copy: lucybaldwin27@yahoo.com

Tuesday, October 12, 2010

"How I Escaped Domestic Violence Through Financial Empowerment"

Post from Rich Single Momma  http://richsinglemomma.com/weblog
By Rich Single Momma
October is Domestic Violence Awareness month. It’s a time to take a good long look at this problem in our world. Despite all we’ve learned about this problem it still persists in thousands of households each year. People who are not in that situation can’t understand why a woman would stay so long and almost lose her life. Why would she subject her children to such a life of violence?

No Escape?

What those same people don’t realize is a woman in this situation probably feels helpless to leave. She may be a stay at home mom who is isolated from family and friends because of her husband’s (or boyfriend’s) threats and manipulations. She probably doesn’t have the financial resources to leave because she is dependent on him for survival.

My Experience

From firsthand experience I can tell you being in a situation like this sucks the life out of you. Domestic violence is not necessarily a sudden thing. It creeps in your life little by little and women with very blurry boundary lines are easily victimized. It starts out with verbal put downs and criticisms. Then it escalates into yelling and screaming to shock the senses and terrorize. The next step is shoving or slapping, which escalates into punching and beating. All the while you are being manipulated into giving up your friends and stop hanging around your family.
If a baby comes you are likely to remain at home and interrogated if you leave the house. You are dependent on the provision of your partner. This is one of the most insidious forms of abuse; being a financial hostage. You have very little or no access to money and every penny you get is taken away.

Holding on to My Identity

My situation was not this bad but it could have gotten to this point very easily. Things never progressed to the shoving, slapping or into being beat. I came to my senses before it escalated to that point. I did, however experience the verbal and psychological abuse. Money could have easily become an issue but I refused to give up my financial identity. Toward the end, my bank account was almost wiped out, but I had another account that I could transfer my money into. I recognized the downward spiral I was in and determined to regain control of my life.
Going through this was very terrifying and heartbreaking. I was angry, scared and confused, but I had to keep my head on straight. My children depended on me to get us through this nightmare. Fortunately I had resources before I got involved with this person so I could escape much easier than a woman who has been in bondage for years.

Financial Savvy is Key

When a woman begins seeking a way out all the literature she reads and people she talks to tells her to stash away money. That is the only way for her to escape a situation like domestic violence. Without money she is stuck indefinitely.
escape domestic violenceFinancial independence is very liberating so it is important to cultivate a financial mindset. It is never too late to learn all you can about earning, saving, and budgeting. Giving up your financial identity is never a good idea in a relationship, but being empowered with financial knowledge is essential. Cultivate your financial savvy and never give up your personal identity for anyone.

I Found My Power

My situation turned out much better than millions of other women. I already had a very strong sense of who I was (I temporarily lost my way) and could tap into my strength. I knew how to get out and get help and I was angry enough (versus too scared) to do something about my situation. I was driven by a sense of fairness and protection for my children. I wasn’t dealing with a crazy man, just a coward who I escaped rather easily when I threatened to expose him to our church. Sometimes that’s all it takes, but other times it’s more difficult.

Educate, Empower, Think

Domestic violence will not go away over night. Young girls must be taught they are worthy of love and respect. They must be taught not to fall for the first guy that says, “I love you”. They must be empowered through education, critical thinking skills, and financial savvy.
Make it your business to empower yourself and every young lady you know. Learn to make good decisions in every area of your life. Develop a strong sense of who you are and never let anyone label you or tell you who you are. Ask a million questions of potential suitors and trust your instincts.
If you are in a domestic violence situation get help ASAP by calling a domestic violence hotline.
Lucille Tyler Baldwin
http://www.thejourneytowealth.blogspot.com/

Monday, September 13, 2010

Manifest Your Desires:

  Aspire, Inspire, Create, Dream, Reach Higher,

                        Enjoy Life, Expect More, Raise the bar and then - Jump Over It, 

                        Dare to live debt-free, know that it is okay to create wealth! 

Know that the World also Belongs to Us

Free Credit Report

Once each year, by U.S. law, you are entitled to request a FREE copy of your credit report.  Beware! Many companies charge a fee for this information when it is available to you for free every year.

Get your FREE credit report at http://www.annualcreditreport.com/

Sunday, September 12, 2010

How to Turn $1.37 into $33,000 for your New Baby!

     If you were not born with a silver spoon in your mouth you will need to get a little creative when it comes to your financial choices. The good news is that your income has less to do with creating wealth than what you do with your income.

     Most of us have a favorite snack or we drink a few cups of coffee a day. By sacrificing one snack or drink a day you can start creating a financial foundation for your new baby. If you eliminate one snack or drink a day and throw $1.37 into a jar - at the end of the year you will have $500.00. You can take that $500.00 and purchase a $1,000.00 savings bond for your child.  Follow this routine every year for 25 years.
    
     For every person (grandmother, grandfather, dad, mom) in the child’s life that makes the sacrifice your child will have a face value of $17,000 in bonds by the age of 17.  By the age of 17 the first bond will mature and be worth $1,000.00, you can now take the $1,000.00 bonds for the next eight years and purchase bonds with a face value of $2,000.00 each year- When that set of bonds matures they will be worth $16,000.00.

Continue this method until your child is 25 years old -- the future value of the bonds will be a little more than $33,000.00. That’s for “each” person in the child’s life that puts away $1.37 a day.

It may seem like a lot of work - but - is giving your child(ren) a financial head start worth a little creative work?

Thursday, September 9, 2010

A Real Ball and Chain: Debt

Debt creates a lack of freedom and you become chained to your creditors.  Every step that you take and every move that you make your debt is right behind you; growing!  Do you stay on the same road or do you make a detour and change your life?  If you are not living debt-free then join me on my journey to becoming debt-free and financially independent.  Create the life that you and your family deserve. 

Today is the day to start taking charge of your money.  Stop what you are doing and get a pen and paper, - now write down the life that you want/deserve.  What are the steps that "you" need to take to create that life?  What is preventing "you" from getting started? Yesterday is Gone;  Tomorrow is too Far Away;  - but -Today is a new Beginning!

No amount is to small; a penny, a nickel, a dime, a quarter, or a dollar.  The key is getting into the habit of saving and taking charge of your finances.  Remember it takes 21 times of doing something before it becomes a habit.

Wednesday, August 18, 2010

Freedom from Debt on a Modest Income

     I've lived with debt and I've lived debt free - trust me living debt free is a whole lot better.  The first step to becoming debt free is convincing yourself that it is possible.  Close your eyes and imagine life without a mailbox full of bills: no monthly car note, no credit card debt, no loans, no monthly payments for furniture, no gas card, no student loans, no retail accounts, etc,.  The greatest thrill of all: no bill collectors calling!


     I worked retail most of my adult life and earned a modest income.  Because of a lack of information I struggled with debt for decades and only recently became debt free (about 5 years).  I taught myself how to live debt free.  Financial information gave me the power to make better choices.  If I can become debt free earning a modest income, you can do it.   Becoming debt free does take work, but your life can only change if you take action.

Sunday, August 15, 2010

I Really Cannot Afford to Save Money! True or False?

     A young lady very dear to me is in a financial crunch. Yesterday she replaced all four tires on her car. The next day she received a letter from the finance department at her school, informing her that she needs to pay $4,000.00 before she can start her final semester of college. I will change her name to protect - “myself” I will call this young lady Joan Doe. Joan works and attends school full time, she lives with a family member and pays about $700.00 a month to maintain her bills.
     I suggested that she start an emergency fund for future car repairs and unexpected expenses that would surely pop up from time to time. Her response: “I really cannot afford to save money. I make just enough money to pay my monthly bills.”

Saving a Small Amount of $ Can/Will Add Up!

     The Reality: Joan does not realize how much money she spends on miscellaneous items each month. She goes out to dinner at least 3 nights a week with friends, and because of her busy life, she also hits the fast food drive thru about 3 to 4 times a week. Like most young people she enjoys shopping and her monthly or biweekly pedicure, etc.,. Joan like many of us unknowingly spends much more money than she realizes. Money that could benefit her in an emergency.

Understanding were your money is going will uncover your available wealth.  You Can Do It - Prepare for Unexpected Situations!

Lucille Tyler-Baldwin
author of  "Sick and Tired of Being Broke"