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I Started Investing 3 Years Ago, Best Decision I Ever Made

I Started Investing 3 Years Ago, Best Decision I Ever Made

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In the beginning of 2015 I paid off my credit card debt for the first time and started to learn about investing.

It was terrifying, but so totally worth it!

How I Perceived Investing As A Kid

Up until 3 years ago (I was 28), I knew NOTHING about investing. To me, investing was some insane, chaotic spree that made rich people rich and the middle class poor. I didn’t know how it worked, but I knew tons of people who lost money during the recession.

If you’ve ever watched any movie that talks about Wall Street or Investing, it’ll have your brain swimming in confusion trying to understand it. Were they just trying to make it look hard and impressive? (Yes).

I was terrified of investing, I just shut down anytime someone talked about investing and assumed they were a financial genius if they owned stock. Someone who had enough money to pay their bills, live their life and put something extra away investing for retirement was a financial god to me.

I Started to Learn About Money On My Own

Like I said before, at the beginning of 2015 (3 years ago) I paid off my credit card debt after paying countless $70 monthly payments. So once I paid it off, I wanted to use that $70 for something else, something reasonable.

I will admit my company did have a financial planner come into our office and talk about our 401(k) plan. While the company plan was pretty awful, the financial planner did a great job at terrifying me to death.

I will always remember their words “Running out of money in retirement is worse than death”

Well f*&k, that was more terrifying than Halloween. So I started to learn more about money and how it worked.

I started reading finance books like “Total Money Make Over” by Dave Ramsey. I consumed it in a day.

I started listening to finance podcasts. Not the hardcore stock analysis ones, but the more Investing for Dummies type of podcasts like “Listen, Money, Matters”. I LOVED that podcasts and in my mind, being surrounded by those announcers talking about money and finance as a regular thing, I began thinking of money in a different way.

After reading books and listening podcasts. I started to view money not as static thing to sit in my bank account, but more as income streams.

Understanding how much money I had in my bank account mattered less than how much I had coming in each month. That’s why investing became a fascination because it’s one of the most common income streams for people.

I Tried Investing $100 To See What Happens

On the podcast “Listen, Money, Matters” they raved about the investing app “Betterment” (Adam uses Betterment and did a review). They brought the Betterment team on the podcast and explained it and how it’s meant for people who know nothing about investing but want to start. That was me!

I remember how nervous I was signing up. I had to put in my info and social security number. I was convinced that I would immediately lose all my money straight away and because they knew my social security number, the IRS would start to hunt me down.

This was a legit fear I had.

Since I had so much anxiety, I only invested $100 to see what happened. I invested in a “moderate risk” portfolio which they automatically invested for me. All I did was put in $100 and waited to see what happens.

They say not to check it daily, but I did. Oh my goodness, for the first week I checked it hourly. I wanted to see EXACTLY how the stock market worked. After a week I limited myself to daily. So for 5 months, I checked my Betterment account every day, scruitinizing everything that happened.

However, I found that my money fluctuated. One day it went down to $99 then up to $102 and slowly kept rising. This helped me understand how the market moved (at least during those 5 months), how it worked and it slowly became less mysterious.

In fact, I started to notice little things like every once in a while, I would receive extra lumps of change in my account. Just a few pennies, but they were dividends. I received money just from owning certain stocks. I couldn’t tell which stocks with Betterment because it doesn’t show that amount of micro detail, but it was a great feeling.

Then I started to invest more and look at other stockbrokers (companies which you need to invest) like the Robinhood App (I still use Robinhood, here’s my full review on how it works). With Robinhood I could start to pick my individual stocks and it was amazing! I chose stocks that were on the safe side such as Apple, Realty Income and Johnson & Johnson that were well known and established. I knew if these companies tanked, there was something seriously wrong with our economy, so I felt comfortable.

I Wasn’t Addicted, But I Was Obsessed

After I learned how the stock market worked, I felt comfortable but wanted to see more gains than the couple of cents I had been earning. So I could have gone in two different directions. I could have started to invest in risky stocks for bigger gains (don’t recommend) or find new ways to earn money so I could buy more stocks. I did the latter.

Now I write articles online for money, use interest checking accounts, sell stock photos, sell things on Craigslist, use a cashback credit card and more to earn extra money each month and invest it!

Today, It Absolutely Was Worth It.

I’m not advocating for a certain investing approach, but I do want you to see money as income streams rather than a lump sum. It absolutely changed my life.

Before I was happy with $2,500 in my bank account. It was more than any of my friends had. I now keep $4,000 in both my checking and savings account as an Emergency Fund and invest the extra money each month in my investment portfolio.

Knowing I have the extra money and extra streams of income each month gives me SO MUCH more confidence to know I’ll be OK if an emergency comes up or I want to go on a vacation. That piece of mind is one of the greatest feelings ever.

How the $88,000 debt payoff journey helped me to transform

How the $88,000 debt payoff journey helped me to transform

Today’s post is contributed by Amy Nickson, a passionate writer on finance. Amy is a professional blogger who has started her own blog and also works as a contributor for the Oak View Law Group. Please share your opinions by commenting below.

The debt payoff journey was the turning point of my life. Once I was a reckless spender; the debt payoff journey helped me to become a financially responsible person.

Read my story to know my debt journey

The year 2011 wash ruthless; my mom was diagnosed with liver cancer, which took her life after 6 months of struggling. In addition to this, I started getting creditors’ calls that made me realize about my high credit card debt, which was a double shock for me.

Being a single mom, my mother earned our bread, showered love and compassion on me and treated me as a most delicate possession.

She never wanted me to see hurt or sad. She had given me a credit card and told me to use for convenience. I started living a lavish life (planning trips, visiting Starbucks, partying, shopping, and hanging around with friends) with my boyfriend.

My boyfriend wanted me to buy a good car. I soon took out an auto loan to buy a costly car without giving it a second thought.

After college, I started working and earning. But, most of the money went out on leading extravagant lifestyle. As a result, I fell into costly credit card debts.

How I paid $51000 credit card debts that I mostly incurred during my college days

I had no clue where to start; what to do with $88,000 debts including $51,000 credit card debt and $37000 student loan debt, and a car loan.

I was not in a normal state of mind; my mom wasn’t there to support me, not even my boyfriend who influenced me to live a lavish life.

The settlement story

A few weeks later, I called John, my friend and a financial advisor.

After knowing all the issues, he advised me to settle the debts, especially the highest interest rate debt. A few months later, I got rid of the higher interest credit card debt ($16000).

The cost of the debt settlement was too high for me. I decided to pay the rest of the credit card debts on my own.

How debt snowball method worked as a savior

I contacted John for the second time to know how to pay off the debts on my own. He explained me the debt snowball method and suggested me to consider a side hustle to save quite a bit so that I can make some extra debt payments.

As per the guidance, I started paying some extra to the smallest amount of debt while paying the minimum to the rest of the debts. Since I had to manage the living cost on my own, I thought this could be the easiest way for me to get out of debt. Following the same method (debt snowball), I paid off the $35000 credit card debts within 3.5 years.

How I started freelance blogging

I had interest in writing projects. So, I tried to search online to find out blogging related freelance jobs. Soon, I started getting small to big projects. Freelance jobs are well paying. For instance, Wallet Squirrel makes $35 per article on Seeking Alpha.

Honestly, the side income helped me quite a bit to make extra payments on my credit card debts.

After paying off the debts on my own and earning extra, I felt a sense of accomplishment and started working on the other debts enthusiastically.

How I paid $37000 student loan debt

The student loan debt payoff journey was relatively smooth, because the credit card debt journey had taught me to live a frugal lifestyle. I started following the extreme money-saving strategies to pay off my student loan. I paid a little extra than the minimum payments. I followed the same until I paid off the entire loan. After 3 years, I was also free from my student loan.

Financial lessons I learned from my debt-ridden past

To be very honest, the intense financial situation helped me to become financially disciplined. I have learned to live life staying within my means. Since I grew up in a lavish way, I never realized the importance of living a disciplined financial life.

However, thankfully, the bad time helped me to learn how to set aside money and advantages of living a debt free life.

Here are some useful tips that will help you to avoid debts and get rid of them fast:

1. Budgeting is the key to avoid

I realized that without following a budget, it is impossible to keep finance in order. I had no idea how to manage monthly bills along with those credit card payments.

John told me to follow a budget where I include debt payments as the main expenses including other necessary expenses like grocery, utility, transport, etc.

By doing so, I noticed an improvement in my money managing skills. Dealing with bills became easier. And trust me, you never experience financial difficulties if you honestly follow a budget.

2. Cut down junk expenses to set aside money

I truly felt restless and unprotected when the situation needed to save every dollar. But, you have to set aside money if you want to get rid of debts.

To do so, you need to cut down unnecessary expenses like eating out, partying, clubbing, subscribing to unwanted things, etc.

I did the same and was able to save some extra dollar so that I could make extra debt payments.

3. Live within your means

Living a lavish life leads to debts. If you spend more than you earn, you will soon fall into debts.

After college, I started earning but I went overindulged and used to spend more than I earned. Most of the time, I used credit cards randomly, which was enough to accumulate huge credit card debts. Extravagant lifestyle only welcomes debt; so, you need to live within your means.

How can you do so?

  • Eat homemade food as much as possible. Try a PBJ.
  • Carry a water bottle and lunch from home.
  • Skip expensive morning latte from Starbucks. You can make your own coffee that tastes same as Starbucks at home.
  • Plan short trips instead of long and expensive gateways.
  • Practice home exercise and yoga instead of paying a big amount for a gym.
  • Shop grocery when you need and also reduce wasting food.

4. Make your credit card bill payments on time

You should deal with your credit cards responsibly. You shouldn’t buy an item, using a credit card, that you can’t afford; because making credit card bill payment within the stipulated time is very important.

If you avoid paying credit card bills on time, you will shorty fall into costly credit card debts.

5. Save money as much as possible

I took out an auto loan and bought an expensive car, which was a fatal mistake. To pay off the auto loan, I sold the car. Later, I bought a small car with cash. It took quite a bit of time to save money for the car, but buying a car with cash is actually a win-win deal.

6. Consider a side hustle

You should boost your income to get rid of debts fast. Earning some extra, like these extra ways to make money, will allow you to make extra debt payments. You can also be able to save a certain amount, which is a good way to avoid falling into further debts. I started part-time blogging to earn some extra. I had a full-time job, but the income was not upto the mark; the extra income helped me to pay off the credit card debt fast.

7. Get rid of junks to get out of debts

You should remove all the junks. Try to remove junk expenses and junk goods. By doing so, you can easily save money that you can use for debt payments.

8. Choose the right debt payoff strategy

I have mentioned earlier that I couldn’t continue with the debt settlement program due to its high cost. I didn’t have a well-paid job; so, I gave up. But enrolling in a debt settlement program helped me to pay off the highest interest debt fast.

Though a settlement program is a good debt repayment option, it is a costly one. It will also impact your credit score since you are not paying the total debt.

On the other hand, DIY debt repayment options are also effective. You can choose either debt snowball or debt avalanche to get rid of the debt on your own. You don’t need to pay money to a third party debt relief company.

Lastly, I should agree that living a debt free life is amazing. At least you can sleep peacefully without worrying about creditors’ calls. The debt payoff journey made me more mature and complete. Thank you for reading my debt payoff journey patiently.

Serious Question: What Makes You Happy At Work?

Serious Question: What Makes You Happy At Work?

I get the simple reason why we work, we want to make money to do the things we want to do. We trade time and energy for money. Then spend money on things to make us we need/want. This I totally get.

However, most of us are trading time and energy for money and still unhappy.

In fact, over 52.3% of Americans are unhappy at work.

This is crazy! In most cases if something makes you unhappy. You quit doing it! Yet most of us go to work every day at places we don’t want to be.

Are we idiots?

Are You Unhappy With Your Job?

I was recently asked if I was unhappy with my job? I was a little surprised a co-worker asked me this. Their reasoning was that I USED to be extremely happy and excited about everything, now I was more monotone or lacked the excitement I used to have.

Honestly, I was a little pissed. No one wants to be told that they lack anything. Yet in reality, I was madder at myself that I let it show that I was unhappy. I’m part Irish, I’m used to bottling up my feelings and not tell anyone that anything is wrong.

It made me ask myself if I was unhappy with my job? It was pretty scary.

What Does Unhappiness at Work Look Like?

If you ask yourself “Are You Unhappy At Work?” it’s not an easy answer. So I started to create a list of signs that would force me to see the truth.

  1. Do I hate waking up in the mornings and coming in for work?
  2. Do I feel I have no future at the company I’m at?
  3. Does the day fly by or drag on?
  4. Do I get excited about new projects or is it dread?
  5. Am I doing the same thing over and over or is it new and exciting?
  6. How do I describe my job to new people?
  7. Does Jenny in Accounting ask if you’re unhappy at work? WTF

Dang, I totally answered yes for quite a few of these. So do I quit my job now or start looking for a new one? I freaked out just writing this list.

Does it even matter though if I hate my job? Whether I hate it or love it, I still NEED it. I have bills to pay and the money I make can buy things that make me happy. Should something I do 40 hours a week need to make me happy?

Well, yes….. Your job should totally make you happy. It absolutely should. However, before you quit you should answer the same question I’m now asking.

What Would Make You Happy At Your Current Job?

The other day I pulled a senior co-worker aside and asked them “What do you think I should do in 2018 to improve the company, goals, vision, etc?” I was expecting some generic answer like things to help the bottom line. However, he surprised me entirely.

One of the best questions I’ve ever been asked was “What do you want to do that makes you happy?”.

Holy Cow! It’s a simple question, but one I’ve never been asked before. I couldn’t actually answer right there and there though. I told them I had to think about it and I’m still thinking about it.

What would make you happy at your current job?

Most people say better pay, but that’s a reward, not necessarily something that affects your everyday duties. What would you change in your day-to-day duties that would make you happier?

That’s currently what I’m thinking about. What would you say?

Happy Thanksgiving! Here Are Some Facts To Be Thankful For

Happy Thanksgiving (American readers)! However, if you’re an international reader, Thanksgiving in America is just a day where people are reminded to be thankful for everything we have and celebrate with eating lots of turkey and pie. Usually surrounded by friends and family.

However in this Thanksgiving post, I wanted to be reminded of how far I’ve come, and our readers, in understanding finance. Because it wasn’t long ago (only in 2015 I paid off $6,000 of credit card debt) that I knew NOTHING about finance and started learning. So I found some interesting finance facts to remind myself of how far I’ve come.

10 Fun Finance Facts

  1. Student Loans are in the trillions of dollars and two of five student loan accounts become delinquent within the first five years of making an attempt to pay student loan payments (source). I have auto-deduct on my student loans, it helps A LOT!
  2. Nearly 30% of Americans don’t have at least 3 months of money to get them by if something happens (source). Personally, my Emergency Fund has 3 months of cash I can tap before I start pulling from my investment accounts to get me by.
  3. In the days of the pilgrims (see thanksgiving themed fact) a US Dollar was called a “buck” because the pelt of a male deer was worth a dollar (source). I didn’t know this before!
  4. Did you know Walt Disney every year for the holidays gave his housekeeper stocks of Disney? By the time his housekeeper, Thelma Howard died, she amassed a $9.5 million dollar fortune (source). Be nice to housekeepers and thankful for everyone doing these thankless jobs!
  5. Don’t take investment advice from celebrities. I’m thankful I never have. The Rapper 50 Cent in 2011 started tweeting about H&H Imports (stock ticker HNHI), an investment he owns and told people to invest. Although his tweets are now taken down, he made $8.7 million from his comments on the penny stock (source). Can’t imagine his followers did as well.
  6. If you’re having a bad day, just remember Ronald Wayne. Ronald was a third co-founder of Apple along with Steve Jobs and Steve Wozniak. Ronald sold his 10% stake in Apple in 1976 for $800. That 10% stake is now worth more than $35 billion (source). I’m thankful not to have that guilt on my conscious. Remember buy/hold!
  7. I hate coins, but I’m thankful they add up! In 2015, the TSA (the people at airport security lines) collected $765,759.15 in loose change. This is the money people just left behind in those long lines and x-ray machine bins. They get to keep it all too (source)!
  8. Buy and hold stocks are a thing. As of January 2013, there were 16 people left in the world who were born in the 1800’s. If they invested (and held) in the stock market, US stocks had increased 28,000% during their lifetimes (source). I’m thankful to start buying and holding so young. I could totally live to be a hundred.
  9. 46.1% of Americans will die with less than $10,000 in assets (source). This factoid haunts my dreams. I’m thankful I  have more than this currently.
  10. In 2011, US charitable giving was $298 billion. That’s more than the GDP of all the countries in the world, except 33 of them (source). That’s pretty awesome and something to be thankful for!

Have a great day everyone!

Oh My Goodness I Hate Tipping, It Ruins My Budget and Anxiety

Let me preface that I used to be a waiter so I understand the value of tipping, but as a customer, tipping is the worst! It’s psychological warfare at the end of every meal that results in either anxiety that you haven’t paid enough or havoc on your wallet for paying too much.

Then exactly how much too much and too little for a tip? Common restaurant adequate says a tip should be 15%-20% pretax, but then why does every restaurant leave the anxiety for the customer to decide how much to tip?

Let’s face it, an extra 20% of a $60 check is still a lot on your budget. That’s $12 the menu doesn’t mention.

This history of tipping is murky

From what I found in the Business Insider and Washington Post (and it’s a murky origin story) tipping originated around 17t century England where the word T.I.P. meant “To Insure Promptitude”. The upper class provided extra “allowance” to servers (lower class) to be given faster service.

This practice made its way to America after the Civil War when wealthy Americans started traveling back and forth to Europe. So we can blame them, and I do.

Tipping Today just allows Restaurants to pay it’s servers poorly

Because waiters (I’m referring to both men and women) receive tips, the federal tipped minimum wage for tipped workers is as little as $2.13 an hour because they receive tips to supplement the difference (source).

That’s kind of ridiculous, right! Restaurants are allowed to only pay their servers $2.13 an hour and expect servers to get the rest of their income from tips. So when you pay your bill, your essentially paying for the food/environment with your bill and your tip pays the waiter’s salary.

If you’re a waiter, the customer is actually your boss since they’re the ones that pay you. So every day, every hour, you have a different boss. Yikes.

How much do you pay your server then?

According to Google, yes I googled “How Much Should I Tip”, you should be paying your server 15%-20% of your pre-tax bill.

This is where the Anxiety starts

What the frack is it? Do I tip 15% or 20%?

What if the server was bad?

If my bill is $100, does the server get an extra $20 just because they played telephone with my order from the table to kitchen and walked the food back? What if they were awful? We’ve all had bad servers who ignored us. They chatted in the back or brought us the wrong items with a rude attitude. Is that when you tip them 15% instead of 20% or even less?

What about if the food was awesome but the service was terrible? ugh

Should I feel both angry at my server for bad service but feel guilty since they’re paid so poorly? How should I feel?

I recall a study conducted found that bad servers still received 15%-20% regardless of how good the service was because people felt it was the socially acceptable thing to do. No one wants to be a bad tipper, but should I tip poorly to save a bit of money and prove a point to the server?

What if the server was awesome?

You plan to spend a certain amount of money eating out and even account for a 20% tip. Do you exceed your budget further if your server was fantastic? Should your server’s awesomeness impact your planned budget? Should they be worthy of more than a 20% tip of that you’re still paying off student loans?

Damn it Janet, you were so great that now my tip for you exceeds my alotted food budget.

Are you a bad person if you don’t acknowledge their above and beyond service or will they quit trying harder if people don’t tip more for the great service?

What about tipping during group meals?

Now imagine eating out with a group of friends, each pays their own bills and it always ends with laying your bills on the table in sight of everyone. If you only tipped 10% or 15%, does that make you a jerk if everyone else tipped 20% – 25%?

On the other hand, are you a jerk for tipping more than everyone? Are you just flaunting money because you can spend more than everyone else or does it make you more generous or charitable?

This is why I hate Tipping!

Why does a nice meal out with friends have to end with awkward silences while everyone calculates percentages in their heads while they secretly judge the performance of the server? Ending in silent comparison of who tipped more, being more generous and charitable than the rest of the group.

I now tip 20% regardless of service

Tipping makes me so anxious that I’m just starting to tip 20% regardless of service (paying with my credit card). The server can refill my drink at the perfect time, every time or completely forget I exist. Tipping a regular 20% fits the socially acceptable tip amount to overcome the unnecessary anxiety at the cost of a few extra dollars on my budget. Sorry budget.

Except Subway “Sandwich Artists”, screw them. They literally walk 10 feet putting the ingredients I say onto bread. Why do they have a tip jar at the cash register? You’re a fast food restaurant.

If you also tip 20% regularly, here is a chart to help you decide what 20% would be when you’re looking over a menu because they don’t list the extra tipping cost on the menu.

20% Tip per Cost of your meal 

Check20% Tip
$20$4
$40$8
$50$10
$60$12
$70$14
$80$16
$90$18
$100$20

If this seems like a lot, you can always stay in and eat a Peanut Butter and Jelly sandwich.

What do you tip your servers? There is obviously no right answer otherwise they wouldn’t leave the tip field on every check blank. I REALLY want to know. Do you judge your waiter everytime or give them a flat fee regardless like me?

The PBJ Theory, Please Quit Complaining About Food Budgets

Peanut Butter and Jelly Theory

I’m about to save you thousands of dollars.

All the money you spend in your life, or even an average month. Chances are one of your largest expenses is food. It happens, literally to everyone.

Eating Out Is The Worst For Your Wallet

So when people start to track their budgets, they always come to the same conclusion. “I need to quit eating out more”. Get this, the average person eats out 4.5 times per week costing them $12.14 per meal on a national average according to a 2016 survey conducted by Zagat.

“the average person eats out 4.5 times per week costing them $12.14 per meal on a national average”

That means the average person spends $54.63 eating out a week or $218.52 a month on just eating out. Unless you earn lots of money, is the obvious answer to eat in?

What About Eating In?

Most people think they can quit going out to start having nice and relaxing meals in. Here’s the thing with eating in, the movies get it wrong.

It’s not always a romantic and soothing experience.

Often times it’s a “Crap, I need to eat. What should I cook?” experience that you pray to the food gods you have the right ingredients in your fridge and dishes are clean.

Let’s face it, we are busy in our lives and don’t have the time to visit the store every day buying new ingredients for a new recipe we found on the internet.

In fact, according to the Harvard Business Review, researcher Eddie Yoon over two decades collected data as consultants for consumer packaged goods companies. He found that:

  • 15% of people say they LOVE to cook
  • 50% of people say they HATE to cook
  • 35% of people say they are ambivalent about cooking (mixed feelings)

If you’re one of the people that hate cooking, you should create a meal plan to make it as easy as possible. Plan a week in advance what you’re going to eat for each meal and know how to cook it. This way you’ll have the ingredients and can plan accordingly for time.

However, not all plans work out.

Introduce The Peanut Butter and Jelly Theory

When meal plans fail, let me introduce Peanut Butter and Jelly sandwiches, otherwise known as a PBJ.

Let me first admit that I have an addiction to commenting on Finance forums, Facebook Groups, and Blogs. The mechanics of building wealth are simple and I’m always happy to remind people that things are often more simple than they appear. Like how I responded this comment and created “The Peanut Butter and Jelly Theory”.

I get it, you want to start saving money on food and you’re looking for suggestions from the personal finance community to help.

Answers ranged from getting a crockpot to make meals simple, cooking large meals on Sunday and eating leftovers throughout the week, to buying frozen meals that may not be great for you, but easy to prepare.

All of the responses skirted around the idea that a solid weekly meal plan is the best option to help you save money on food. However, sometimes these meals don’t work out for a number of reasons and one fall off the wagon can end up at the local McDonalds.

So I introduced the Peanut Butter and Jelly Theory. The cost-effective, quickest meal ever to keep your budget on track.

This is easily the most actionable thing you can do to start immediately saving on your food budget. In many cases when people eat out, it’s due to convenience because they don’t have anything at home that sounds appealing. That’s when the Peanut Butter and Jelly Theory comes in handy.

Stash emergency PB&J supplies in your kitchen. When hungry but have nothing else, eat a PB&J. If you’re not hungry for a PB&J, wait 2 hours until you’re hungry enough to eat a PB&J.

Sometimes a PBJ isn’t exactly what you’re craving and your favorite restaurant sounds better, or your “husband would not be happy about that” (see comment). Well suck it up, you’ll soon be out of debt and you can buy your husband a jet ski. Everyone loves a jet ski.

Try the Peanut Butter and Jelly Theory

If you want to save THOUSANDS on food budgets, you should try the Peanut Butter and Jelly Theory! Meals cost less than $1 to make, you’ll save time and money. Most importantly, you’ll have a secret stash of PBJs to make when you get those cravings to go out and spend money.

You’re welcome.

Disclaimer: Wallet Squirrel did not invent the Peanut Butter and Jelly sandwich, just an advocate of saving money. Wallet Squirrel was not sponsored by big PBJ corporations to promote their superior and delicious product.

Top 22 Warren Buffett Quotes the Internet Can’t Get Enough Of

Warren Buffett, CEO of Berkshire Hathaway, has a net worth of over $78.2 billion and is known as one of the greatest investors of all time. So when he speaks, people take notes. Here are some of the top 22 Warren Buffett Quotes the internet can’t get enough of.

Warren Buffett Quotes Infographic

Top 22 Warren Buffett Quotes the Internet Can’t Get Enough Of

Here are some of the top Warren Buffet quotes found on every list of Warren Buffet quotes around the internet. These quotes range in wisdom on investing to regular life. I try to live by these quotes on my own investment portfolio.

Warren Buffett Quotes

1. Rule #1: Never lose money. Rule #2: Never forget rule #1

One of my favorite Warren Buffet Quotes. The fastest way to grow your money is to never lose it in the first place. This applies from saving on your groceries to focusing on less risky stocks of well established companies.

2. It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently

Think about the Wells Fargo or Equifax scandals. It takes years to build enough trust for someone to have brand loyalty. Warren Buffet quotes it takes 20 years, but it takes 5 minutes or less to destroy all that goodwill you’ve built. People are quick to revolt if you’ve done anything to betray their trust.

It is infinitely harder to build trust than destroy it.

3. Diversification is a protection against ignorance. It makes very little sense for those who know what they’re doing.

Multiple studies show that diversification in the stock market will help protect you against market falls. Or it could be summarized in the old proverb “Don’t put all your eggs in one basket”. Unless you have insider information that a stock is going do really well, maintain a diversified portfolio to protect you. No one knows what they’re doing all the time.

4. If you aren’t willing to own a stock for ten years, don’t even think about owning it for ten minutes. Put together a portfolio of companies whose aggregate earnings march upward over the years, and so also will the portfolio’s market value.

Unless you’re a day trader (I will never be), you should only be investing in the stock market with the intention to hold those stocks for a long time. You can do really well as a beginner if you’re buying stocks and not planning on selling till you retire. Those are where you get the best returns. Warren Buffett is infamously known for rarely selling stocks.

5. It’s far better to buy a wonderful company at a fair price than a fair company at a wonderful price.

When you buy a stock, you should think of it as owning a piece of that company. You should be looking at wonderful companies that have a competitive advantage in the industry. Those are the companies that will do well over the long run. You may find a wonderful price on a mediocre company, but really what are you getting? A mediocre company that will likely be edged out of the market by a better company.

Many of the famous Warren Buffett quotes are about investing in strong companies with a competitive advantage and strong brand loyalty rather than cheap companies where you think you can make a quick buck. Warren Buffett is never into buying a company for a quick buck.

6. Be fearful when others are greedy. Be greedy when others are fearful.

During the 2008 financial crisis when investors were all exiting the market, Warren Buffett invested in a few large companies even though their stock prices were falling. Those deals made Warren Buffett over $10 billion dollars when the market stabilized and it’s continuing to show dividends. When the market goes upside down during world events, politics, market forecasts, those are the times when everyone else is fearful, that Warren Buffet sees an advantage when the markets crash.

Think about it this way, the New York Stock Exchange has been around since 1817, it has always recovered. Chances are, minus a world apocalypse, that the market will always bounce back. Those who capitalize on those downturns are usually rewarded.

7. The difference between successful people and really successful people is that really successful people say no to almost everything.

One of my favorite Warren Buffett quotes because it has so many applications. You will see many opportunities in your life and you may want to jump on everyone, but it’s ok to be selective and say no. You’ll burn yourself out if you say “yes” to everything. This also applies to going out on a Saturday night with friends drinking. It’s ok to say “no” to save a few dollars or have a night to yourself to finish your article on Warren Buffett quotes. =)

This also applies to going out on a Saturday night with friends drinking. It’s ok to say “no” to save a few dollars or have a night to yourself to finish your article on Warren Buffett quotes. =)

8. Develop and build the habits you admire in others.

Remember all those times that your parents wanted you to hang out with those “good kids”. The habits of the people you surround yourself with rub off you on, consciously or unconsciously. When you find people like Warren Buffett, the Oracle of Omaha, who is one of the greatest investors of all time. You should find out what makes him so successful and learn those traits to improve yourself.

9. Passive investing will make you more money than active trading

Oh my goodness, fees are the WORST! Active trading requires more work and more fees, so more of your money will be paid to your broker. Yet studies have shown over and over that passive investing where you set your money and forget it are far more successful for growing wealth. I don’t plan to ever touch my stocks currently making dividends.

10. There seems to be some perverse human characteristic that likes to make easy things difficult.

Great quote, people always imagine things are more difficult than they really are. When I first considered starting investing, I thought there were so many hurdles and financial experts I would have to pay. Yet, when I finally decided I wanted to start investing in the stock market, I just downloaded the Robinhood App and started investing. It took 10 minutes to sign up and buy my first stock when I worried about investing in the stock market for over 5 years. Things are often more simple than you think they are.

11. Tell me who your heroes are and I’ll tell you who you’ll turn out to be.

This is similar to the Warren Buffett quote “Develop and build the habits you admire in others”. If you want to be an entrepreneur, start joining local meetups of entrepreneurs. You learn SO MUCH MORE when you surround yourself with the people you want to be like. You can learn A LOT in a book, but you’ll learn even more by surrounding yourself with people you admire.

12. We have long felt that the only value of stock forecasters is to make fortune-tellers look good.

No one can predict the stock market, no one. Not even Warren Buffett. Anyone who says they know exactly how the market works is trying to sell you something. You can lump stock forecasters being as accurate as the carnival fortune-tellers. You know the ones with 3 teeth, crystal ball and you’re going to die in 2083.

13. When we own portions of outstanding businesses with outstanding managements, our favorite holding period is forever.

If you invest in an outstanding company, even if the stock price goes up, why would you ever sell it? No matter when you sell it, outstanding companies will continually do better and better. Don’t sell until you absolutely have to, otherwise, you’ll just be losing money in the long run. Many of Warren Buffett Quotes are like this, they are all very Anti-Day Trader.

14. You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.

If you follow the basic principals of Warren Buffett and buy outstanding companies with strong competitive advantages like Apple (AAPL). You don’t have to be a genius. Just buy and hold forever, you literally don’t have to do anything until you sell.

Many Warren Buffett quotes are similar to this because he stresses that anyone can invest in the stock market. The simplest way is just to invest in index funds that follow the market. Set it and forget it. The market sees an average increase of 7% per year and that’s WAY better than a savings account.

15. I try to buy stock in businesses that are so wonderful that an idiot can run them. Because sooner or later, one will.

Look for companies to invest in that are so strong that they can weather any storm because soon enough they will have to. Think about Apple (AAPL), as long as they keep pushing out iPhones it doesn’t matter who runs the company, they’ll continue to do well. People were worried when Steve Jobs passed because they didn’t know the future of the company, but Tim Cook stepped in and maintained the same Apple legacy. As long as Tim Cook sticks to the secret Apple recipe, they’ll be in good shape.

16. Buy into a company because you want to own it, not because you want the stock to go up.

If you see a company that you think is going to do well or heard will do well, don’t buy it unless you’re willing to hold it for awhile. If something goes wrong and the stock dives, you’re stuck with a company you don’t believe in and will likely sell at a lower price to get rid of it, ruining the reason you bought it in the first place.

17. Wall Street is the only place that people ride to work in a Rolls Royce to get advice from those who take the subway.

This is just a funny Warren Buffet quote.

18. Charlie and I have not learned how to solve difficult business problems. What we have learned is to avoid them.

I’m sure Warren Buffett and Charlie Munger have learned how to solve difficult business problems, but the best way to navigate murky waters is to avoid them all together. The more problems your business can avoid, the better shape you’ll be. You can avoid a lot of problems from being proactive instead of reactive.

19. Long ago, Ben Graham taught me that “Price is what you pay; value is what you get.”

Ben Graham, Warren Buffett’s mentor had this popular quote. I always think about it simply. Price is what you buy a stock for and Value is what you sell that same stock for.

20. It’s better to hang out with people better than you. Pick out associates whose behavior is better than yours and you’ll drift in that direction.

If you can’t tell, Warren Buffett believes in surrounding yourself with the right people. He credits much of his success from surrounding himself with smart, good people.

21. If past history was all there was to the game, the richest people would be librarians.

When you analyze a stock based on its historical performance, it’s called technical analysis. Yet past performance does not necessarily mean future performance. Just because you know what the stock has done in the past doesn’t mean it’s going to follow that same trend.

22. You only have to do a very few things right in your life so long as you don’t do too many things wrong.

It’s ok to mess up, focus on learning from those mistakes for the next time. It just sounds cooler when Warren Buffett quotes it. Or you can take this as no matter how many mistakes you’ve made in the past, you always have a chance to do more good. It’s one of those life quotes that can go many ways.

Ultimate Lottery Guide – What to do if you Win the Lottery

What To Do If You Win The Lottery Header Image

Ultimate Lottery Guide – What to do if you Win the Lottery

After the recent big lottery wins, people have been searching for what to do if you win the lottery. The odds are only 1 in 175 million, but it has to happen to someone right. Everyone imagines it and it’s fun to think about, but if it actually happens, here’s what to do according to the Ultimate Lottery Guide.

1. Sign your Ticket

Many people buy Lottery Tickets and stash them in their wallet or purse knowing that it’s their lottery ticket. However, a Lottery Ticket is only owned by whoever has signed the actual ticket. So ALWAYS sign your tickets when you get them. It confirms ownership and the ticket must be signed in order to claim the lottery winnings anyways.

2. Tell No One

It’s big and wonderful news, but you need to think ahead to all the potential long lost relatives, friends and random people that may soon be sitting in your front yard wanting to be your best friend. You don’t want to be the bad person telling everyone “no” so avoid the awkwardness and tell no one. In 1984, Lottery Winner Mike Wittkowski received more than 1,000 letters at his home from strangers trying to tug at his heartstrings to receive money.

It might be fun initially to have 15 minutes of fame, but you may regret it months or years later when people you never met are ringing your doorbell. Stay quiet about it and don’t tell anyone until you come up with a plan with your financial team. The plan should deal with how to handle friends/family/strangers request for money and how to deal with the sudden fame/money.

3. Take Your Time

There is no rush to turn in your ticket during all the hype, you have between 90 days to 1 year from the day of the drawing to turn in your ticket. Each state is a bit different so check them out. You have some time to take a breath, let the hype die down, and get your team of financial experts together before you claim your prize.

  • Powerball, you have 90 days to 1 year to claim your prize depending on the state via Powerball’s website.
  • Mega Millions, you have 180 days to 1 year to claim your prize depending on the state via Mega Millions website.

4. Seek Financial Advice & Hire Finance Professionals

Hiring the right professionals will help you collect the most money from your lottery winnings, help understand tax rules and take care of the gritty details so you don’t have to. Like will you take the lump sum of cash or 30-year annuity? Consider these financial professionals for your finance team.

  • Financial Planner – They will help you set up a plan for your new wealth. They’ll help you understand the benefits of taking the lump sum versus annuity and they will work with you to set up your goals, analyze your assets and set up a budget so you can make the most out of your money and not blow it. A study of lottery winners in Florida found 70% of winners spent all of their lottery winners within 5 years of winning. Don’t be one of these people, consult with a financial planner. To find a good Financial Planner check out the CFP (Certified Financial Planner) Board for a list of Certified Financial Planners in your area.
  • Tax Attorney -There will be a lot of tax (state taxes/federal taxes/gift taxes/corporate taxes and other taxes) issues that come up about Lottery Winnings. Hire a good lawyer to help you with this. To find a good lawyer, check out the reviews on LegalZoom, RocketLawyer, LawTrades and Avvo for lawyers in your area that are highly recommended and have experience handling large sums of money.

    To give you an idea, the government will withhold 25% of your winnings before you even touch it. Then, of course, you’ll have to pay State Taxes as well. Maybe even Municipal Taxes depending where you live. The rest is paid at tax time where the IRS will tax you in the top income bracket at 39.6% (source). In the end, you’ll be taxed nearly 40% on those initial winnings depending on your state.

  • Accountant – This is the person who will have a good idea how much of the lottery winnings you’ll need to set aside to pay off all the taxes. They will help plan throughout the year on the best ways to mitigate taxes and keep the most of your money. Plus with that amount of money, you’ll want someone handling all your taxes for you. To find a good Accountant, check your local Society of Certified Public Accountants directory to find a certified Accountant to help with your needs.
  • Estate Attorney – They will help you with structuring and protecting your assets. They assist people in drafting and implementing legal documents, such as wills and trusts. It’s good to have a plan for your assets in the event of your death. Who will your money go to and/or should a trust be set up for your heirs. As mentioned with finding a good Tax Attorney, check out the reviews on LegalZoom, RocketLawyer, LawTrades and Avvo for lawyers experienced with wills, trusts and large sums of money.

5. Claim your Prize – Anonymously

Here’s the deal, Big Lottery wants to promote you and share with the world that a real, regular person won the lottery. Often times state law mandates sharing your name with the public. However, you can claim your prize anonymously a couple of different ways.

  • 6 States allow you to remain anonymous – Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina.
  • 4 States allow a trust to claim your prize – Colorado, Connecticut, Massachusetts, and Vermont will allow a trust, usually, a trustee (typically a lawyer) to claim the prize without disclosing the name of the lottery winner.
  • 2 States allow you to remain anonymous IF – Illinois and Oregon have made exceptions to making lottery winners names public if the winners demonstrate a high risk of harm by revealing their name.

If you’re not in one of these states that allow you to claim your lottery winnings anonymously. Do what this guy did and hold the check over your head when you receive the lottery winnings.

What To Do If You Win The Lottery - Cover Your Face

You can also sign your first name with your first initial to make it harder for people to track you down.

You may also want to get off social media like shut down all your accounts if you win the lottery. This may sound extreme, but keep in mind that people will start searching for you online, going through all photos, friends, where you work and personal details. They may try to stake out at your favorite bar or harass your friends to meet you.

6. Create a middle man for money request

If people hear about your new winnings, you’ll likely have people from all over asking for money. Addressing all of these can be overwhelming and potentially depressing. Consider setting up a middle man to say “no” for you.

When a long lost friend comes out of the blue asking for money, or with a really great investment idea. Send them to your “middle man”, usually a lawyer, who could review all potential investments for you. You can say that they are better at investing than you, which may be true. So they can say “no” and you don’t have to feel bad telling your friend or anyone no. This will save your sanity and emotions from being the bad guy and help not waste your time/money on bad investments.

7. Pay Off All Your Debt

If you do anything with your money first, it should be paying off all your debt. You are entering a new phase of your life and it should be started off debt free.

Even if you go broke in a couple years, you’ll least have all your debt paid off to pick up your life where you started off.

8. Avoid Sudden Lifestyle Changes

While you shouldn’t be doing anything until you can physically hold the money, even after that you should avoid sudden lifestyle changes for the first 6 months. Buying that Ferrari or Land Rover, second house for your entire family, extravagant vacations can all feel like a nice reward for all your hard work, but these impulse buys could quickly deplete your lottery winnings.

Consider instead renting an apartment in that cool neighborhood you want to live in or doing an exotic car rental for a day to try different sports cars. It’ll take you awhile to understand what you want. Find out what really makes you happy before you go on a spending spree and work with your financial planner to set a budget for frivolous things to buy so that you’re still maintaining a nice nest egg for your family in the future.

9. Live within a budget

Ideally, you should only be spending the interest you’ve made off the lottery winnings. If you do this, you’ll never run out of money. The annual interest of a $100M or more lottery winnings will be more than enough to live off of the rest of your life. Especially with a good financial planner.

Otherwise, work with your Financial Planner to set up a budget live within and understand how long your money will last with your current spending habits.

10. Protect your Assets

Consider getting Liability Insurance to help with potential lawsuits against you. With your newfound money, you will be a target for anyone wanting your money. Liability insurance will help for trip-and-fall lawsuits, personal injury claims against you like libel and slander, and freak accidents. This provides an additional layer of security.

How to Start a Blog – When You Know Nothing About Blogging

How To Start A Blog

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Two of my friends want to learn How to Start a Blog. Justin wants to start a cooking blog and Emma is going to start a travel blog. Since I’ve created over a dozen websites/blogs, I wrote them a guide on How to Start A Blog When You Know Nothing About Blogging. They’ve never set up a blog before, so this is a complete guide (tons of screenshots) for setting up your first blog.

No matter if you want to set up a Finance, Fashion, Travel, Cooking or Photography blog. This guide will set you up with your own unique blog in 20 minutes.

Why Do People Start Blogs?

Both Justin and Emma want to learn how to start a blog so that they can do what they love, write! They want to write about topics they’re passionate about and knowledgeable on. Their goal is to make enough money with their blog, so eventually, they can quit their job and work from home blogging. It’s entirely possible and super easy.

Other popular reasons people start blogging are:

  • Make Money from blogging Anywhere – Many people make a great side income or full income from writing about what they love and know. Plus you can do it anywhere, at home, in a coffee shop or in an RV traveling the United States.
  • Self-Publish Writing – If you have a story you want to tell, but don’t have the resources to find publishers and print hundreds of books. Try starting a blog and share your story immediately. You can start to build an audience and become an expert in your field with a website.
  • Promote a Business – If your business isn’t online, it doesn’t exist. This is how people find if a company is open, what it does and how it affects the community. A blog is a simple and FAST way to get your business online and start reaching customers.

Save time, don’t use third-party blogging websites.

Save yourself so many future headaches when learning how to start a blog by NOT using a third party blogging site. Some people start blogging on these because they think it’s easier than setting up your own blog, but it’s not.

If you use a third party website like Blogger, you won’t have a custom domain (like WalletSquirrel.com, it’ll be something like www.blogger.walletsquirrel) which comes off odd, then you’ll pay tons for add-ons to get the look and feel you want and you’ll never have complete control over your own blog.

One of the biggest reasons to start your own blog is so you can later make money off of it. You just can’t easily monetize if you use a third-party website. Click here to start your own blog on WordPress.

WordPress is the most popular Blogging Platform, use it!

Most blogs use WordPress, in fact, 25% of the websites on the internet are run by WordPress. That’s the ENTIRE internet. Every website I’ve ever built runs on WordPress because it’s SUPER easy and convenient. If you learn the easiest way to start a blog, start your blog on WordPress.

Easy Steps on How To Start A Blog

Here is the basic overview on how to start a blog. It’s really simple to set up a blog in 20 minutes.

  1. Figure out what your blog is about
  2. Decide on a domain name
  3. Choose a web host (I use Bluehost because it’s one of the best, and cheap)
  4. Click 1-button install for WordPress
  5. Start writing for your blog & customize

Easy Step 1 – Figure out what you want to blog about

Whether you’re creating a finance, fashion, cooking, travel, photography or business blog. You want to have a solid idea of what you’re going to write about.

If you’re like Justin wanting to create a cooking blog, it helps if you niche down to a Gluten-Free Cooking Blog or Farm-To-Table Cooking Blog. If you don’t niche down, your blog will likely get lost in the sea of other cooking blogs. When you niche down to a specific cooking blog, your blog will stand out more and be recognized as THAT Gluten-Free Blog or whatever you want to write about.

Also when you’re thinking about “How to Start a Blog”, think about how your blog could grow and make money in the future. If you want to create a Gluten-Free Cooking Blog, start thinking about how you could incorporate affiliate links into your favorite recipe books and cooking tools or where advertisements may go in a sidebar.

The better you can visualize and plan what your blog may become, the easier it will be to come up with a name and direction for your new blog.

Easy Step 2 – Decide on a Domain Name

Domain names are what people will type into their website browser to find your website. It’s your online address.

Not going to lie, when I started Wallet Squirrel I had over 100 domain name ideas. I would daily write new domain name ideas on my phone like “MillennialRetirement.com” and search GoDaddy.com to see if they were available. It wasn’t….

I always use GoDaddy to see if a domain name is available because it has a nice and clean search option to find available domains. So think about different domain ideas that relate to your website and use GoDaddy to see if they’re available. A good domain can really help your website. However, don’t buy a domain through GoDaddy. When you sign up for web hosting through Bluehost later, you’ll get a free domain name.

I always chose a (.com) domain because those are the most trusted domain extensions. If I chose “MillennialRetirement.net” it would only sound cheesy and made up to me. People might be hesitant to click on it because most websites are (com). You could take a risk choosing a different extension like (.net) or (.co), but I wouldn’t.

Get creative and find a unique (.com) domain that’s:

  • short
  • easy to remember
  • easy to type
  • reflects what you want to write about

Before I settled on WalletSquirrel.com I went through TONS of different domain name possibilities. Here are a few.

Potential Website Names When I Started this Website (Wallet Squirrel)

  1. Dividend Student (.com)
  2. Millennial Dividends (.com)
  3. Get Dividends Monthly (.com)
  4. All Dividend Revenue (.com)
  5. The Dividend Experiment (.com)
  6. Perpetual Dividends (.com)
  7. Dividends Wanted (.com)
  8. Invest The Hustle (.com)
  9. Dividend Army (.com)
  10. Div Push (.com)
  11. Dividend Entrepreneur (.com)
  12. Div Effect (.com)
  13. Dividend Pursuit (.com)
  14. Test Earn Invest (.com)
  15. Dividend Invested (.com)
  16. Dividend Theory (.com)
  17. Div Rule (.com)
  18. Think Dividend (.com)
  19. Dividend Passive Income (.com)
  20. Wallet Squirrel (.com)

You may get the idea that I was pretty focused on Dividends. However, like I mentioned in Step One, think about the future of your site. I considered expanding beyond dividends and the stock market, so I went with Wallet Squirrel with the tag line “Save your nuts”. It was relatable to finance with the word “Wallet” but fun with “Squirrel” and the tag line “Save your nuts” is pretty memorable. This way I would have some flexibility on how I wanted to grow Wallet Squirrel.

When you’re planning how to start a blog, think about how your website may grow. I usually think of my websites like TV seasons. Where do I want my website to be in season 4? Does my domain name idea still make sense?

Easy Step 3 – Choose a Web Host (Important)

This is the virtual cloud that will host your blog. Think of it digital real estate that will house your blog on the internet. Your web host will affect how fast your site is, how much you pay and how good their tech support is.

 

I personally use Bluehost for all my websites (including Wallet Squirrel) because it’s the best price for how fast Bluehost runs my websites (Google ranks faster websites higher) and their tech support is amazing. I just shoot them a text on their website if I have a question and they solve any issue in minutes, it’s the best. You can even just chat with them before you sign up on how to start a blog.

For reading this post, you can use my referral code to get a great discount on hosting and start at $3.95 per month. Plus you’ll get a free website domain (your internet address), which normally costs $12.

 

Other reasons to use Bluehost for your first blog

  • WordPress through Bluehost is free!
  • There is a 1-click button to automatically set up WordPress on Bluehost (EASY & FAST)
  • Bluehost is faster than most web hosts, which will better your Search Engine Optimization (SEO)
  • Hosting your own website on Bluehost looks more professional than a third party site like Blogger
  • Their Tech Support works with tons of new bloggers like you, and you can text them rather than calling (I love that!)
  • 30-Day Money Back Guarantee. No risk if you don’t like it.

Fill Out Some Info

Select the plan you like (you can upgrade/downgrade anytime) and fill out the general account and billing Info. This is what the General account information will ask you.

It’s really not that intrusive. You don’t have to fill out a social security number or anything too personal. Once you fill out the “account info” you scroll down for the package you want. The “package information” or hosting options seems really intimidating to someone who’s never signed up before, but only because you’ve never done it before. Here are the options.

Here is what I choose for my websites.

  • Account Plan – If you’re just starting off, keep it cheap and choose only 12 months. If you really like blogging, you won’t mind paying for a new plan in 12 months. If you don’t like it, you didn’t spend that much money and you always have your 30-day money back guarantee.
  • Domain Privacy Protection – The internet has a database for which websites are owned by who. Domain Privacy allows you to keep your name off that list so you don’t get bugged by salespeople who found your email as the owner of your new website. I usually order this.

Everything else is not really needed. I’d consider adding additional services only once you get more familiar with your website and find a need. There is no need to pay for things before you realize if you need them or not.

You’re Signed up!

That’s it! Once you sign up, you’ll get a confirmation email that will take you to your Bluehost menu. You can start right away, no 3-5 business day set up time.

Easy Step 4 – One Button Install For WordPress

So you planned what you want to write about, you picked a domain and signed up with Bluehost to host your new blog. Now you just need to install WordPress. This part is easy. The menu on Bluehost is called their cPanel. This is the main menu that you’ll be directed to once you click their confirmation email.

Select the “Install WordPress” button. It’s a one-click install button. Once you do that, you’re in the process of installing WordPress, you’ll just need to:

  1. Select your domain name, from the options to install WordPress on
  2. Select Advanced Options and choose a username and password. Remember that websites sometimes get attacked. So choose a username and password that’s long. The longer the password, the harder it is to break.
  3. Select “Install Now”.

At this point, you have a WordPress blog!

Easy Step 5 – Design and Start Writing for Your Blog

From now on, all you have to do is go to your new domain “yourwebsitename.com/admin”. To sign into your WordPress Blog. You no longer have to deal with Bluehost at all. Everything you do from here on out is all on your new WordPress blog.

Once you log into your new WordPress Blog, Your Admin Menu will look like this.

How To Start A Blog - WordPress Admin Panel

This is close to what every WordPress Blog looks like, the main options for every WordPress blog are:

  • Posts – These are where you write you daily, weekly, monthly articles for your blog. These are your cooking articles or travel adventures. This is the “blog” portion of the blog.
  • Media – Every image/video you upload to your blog, all those media files live here. You can add images within your actual posts and pages, but all your media content can be viewed here.
  • Pages – These are the “About Me“, “Contact Us“, “Ways to Make Money” pages. These are usually static pages that aren’t your daily, weekly, monthly posts.

Customize the look of your blog

If you want to want to change the look of your blog, you can change the theme under “Appearance”. Themes are like costumes for your blog. Different themes will change the colors, fonts, and style of blog. I personally use the Enfold theme, bought from Themeforest. It’s very user-friendly (plug and play) with tons of documentation.

*Bonus* – Make money with your blog

Don’t come off cheezy placing ads everywhere, instead install a plugin like Viglink for affiliate marketing. Now, anytime you reference a blender (my personal blender) on Amazon, Viglink will automatically track clicks on that link and you’ll receive a commission if someone buys. Viglink is partnered with over 2,000 online merchants (including Amazon), chances are your favorite websites are included. So once you learn how to start a blog, your blog can start making a little money.

Done, You have a blog!

I ran through this (while talking) with Justin and Emma to set up their blog in under 20 minutes. They took it from there and immediately started writing and designing. Again, I set up their blog through Bluehost, which made it a lot easier. You could probably set up a blog on your own (not talking) even faster.

Let me know if you have any questions on how to start a blog! I’d love to help or share more of my experiences!

*Disclosure – I host all my websites on Bluehost and we receive a commission if you sign up using our referral links.

Are You Considering an MBA? Answer these 2 Questions First!

At the end of last year, I was in a career funk. So I considered going back to school to get my Master’s of Business Administration (MBA). With an MBA, you can advance in your current field or make a switch to a new field, everyone values an MBA.

I was stoked! I considered the possibility of getting an MBA in the past and it was a great time in my life to do night classes. So I began picturing myself adding the letters “MBA” behind my name on business cards and looking up schools.

However, I quickly hit the brakes!

Ask These 2 Questions before You pursue an MBA

Many of my friends are going back to school or currently in school, and I ALWAYS ask them these 2 simple questions that BLOW THEIR MIND. So I decided to test myself to see if I passed my own “Should You Get An MBA” test.

1. What is the EXACT dream Company and Job Title you want after graduation?

You should know this. Most people will get an MBA because they want to do something in business. They think they need MBA to for future promotions and career growth.

However, you should FIRST figure out what your dream job is. You can’t just say “something in business”. If you are going to spend $80,000+ on an MBA and years of your life. You should identify the exact company and job title you want before you even start school. Come on, it’s your DREAM job.

This is a role you will potentially be doing for the rest of your life. You should have a clear idea of what it should be. This will guide every future decision you make while in your MBA program, affect the electives you take and the networking events you attend.

What’s the point of getting an MBA if you don’t know what you’ll do with it? Seriously? So write down your dream job title and company.

2. Have you reached out to your dream company yet?

Once you can identify the exact company and job title you want, you should reach out to that company and ask what they look for. This should be less intimidating than looking at a future $80,000+ student debt bill.

Usually a company’s Human Resources department would be willing to meet with you if you share with them that you’re considering going back to school to gain the skills necessary to work at their company.

When you meet with your dream company’s Human Resources Department, you should ask them some of these questions.

My dream job at your company is a Marketing Manager (or whatever it is), what is the salary range they get paid?

You should ABSOLUTELY know how much your future job pays because that’ll tell you how long it’ll take you to pay off your newly acquired student debt. Plus it’ll give you an idea of what lifestyle you can expect once you graduate with an MBA.

It’s not all about money, but you should be aware if all your hard work in school will result in nightly ramen noodles once you graduate. Are you OK with that?

What degrees or education do your current Marketing Managers have? (or whatever your dream job is)

This will give you an idea of the education level of their current employees. Some of their employees may have MBAs and some may not. You should probe deeper to what the HR team looks for in your dream position. Perhaps you don’t need an MBA and you have the necessary experience to apply today.

If you need to get an MBA for that position, ask if they have a preferred school or partner with any specific schools. If your dream job regularly partners with a local university and hires pretty exclusively from there, that university may need to be on your radar for potential schools.

Does your dream company offer internships?

Yes, you’re getting an MBA but knowing if your dream company has an internship program is huge. Many companies will hire interns who are working towards their degree and help them grow into the position. There is no reason to wait till after you get your MBA to apply to your dream company. You should use every opportunity you can to start making connections.

What does career growth look like at that company?

If your dream job is to be the Chief Executive Officer (CEO), they won’t just hire you out of school. What entry level roles will you need to start off with and how does one become a CEO? How did the current CEO get his role and what did they do before that? Some jobs aren’t attainable right out of school, even with an MBA. You need to understand what your career path would look like moving up to your dream position. You should understand what this looks like.

When I considered an MBA, I failed this checklist

Last year when I considered getting my MBA, I went full-throttle and visited 3 different universities. I dropped in classes and met with professors. I received all the brochures, met with all their “advisors” and compared costs ($39,000 – $80,000). I did soft applications and confirmed I would be accepted to each of them. So I was freaking close to full out applying.

I knew I wanted do something in finance because I LOVED writing about finance. So I figured I’d get an MBA with a focus in finance (hence why I write for Wallet Squirrel). This is how most people start the MBA journey. They love the idea of a degree, get an education THEN figure out where they want to work.

I did that when I choose my college degree. I went into Landscape Architecture without actually knowing if it was my dream job. I just thought it would be fun to draw and select plants. I didn’t learn till after internships and after graduation that they spend most of their time looking at a computer, drawing parking lots. UGH, so NEVER again.

So I asked myself these two questions and I failed.

There were some finance positions like Financial Planner, Mutual Fund Manager, Financial Analyst that sounded interesting but I wasn’t drawn to them with such vigor that I could stomach another $80,000 in student loan debt.

One position DID sound fun, but they earned even less than I was making now. So I had to ask myself if I would be willing to gain more debt for lower paying, nicer job? I didn’t like it that much.

Do the Math on your Future Tuition

According to Investatopia, the average MBA program costs $140,000, with higher ranking school costing more. They’re factoring in tuition, living arrangements, books (use ebates to save) and peripheral expenditures. That’s more than the evening only MBA programs I was looking at.

Now factor that $140,000 student debt at 6.8% interest which is the average Subsidized Federal Stafford Loan according to Federal Student Aid. Having that kind of student loan debt is similar to buying a house.

However the common response to seeing these numbers is that you’ll be paid more after your MBA. That is likely true. The average salary of MBA graduates in a full-time program was $126,919. This was taken from US News when they interviewed companies mainly on the east/west coasts which usually provide a higher salary than the Mountain States and Midwest.

Conclusion

Most people like me had to make an insane decision in High school to pick a college major before entering college. So at the same time I was focused on rehearsing for the school musical and wondering if the homecoming queen, Val liked me (she didn’t). I had to choose a degree that would affect the rest of my life. I was not ready.

Going back to school for your MBA doesn’t have to be like that. There isn’t any timetable, no matter what the college recruiters tell you about the deadline for an upcoming semester. You have all the time in the world to choose if an MBA is right for you.

So if you’re considering going back to school for an MBA to improve your future, you should have an idea of what your future will look like by identifying your dream job at your dream company. This is your opportunity to do WHATEVER you want in the world, have a plan that extends after graduation.