Save Money in 68 Powerful Ways

An Excerpt to the book –Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever, by Lois Center-Shabazz

Saving Money by Understanding the “Live Rich” Concept

“Live Rich” is a concept I created after years of frugal living, saving and investing, that has landed me in a comfortable lifestyle. I want to share this information with you, so you can do the same.

Ponder this scene; you see someone living in a mansion with eight luxury cars, the wife with five furs, and the kids in private school, but they could essentially be “living poor”.  Why? That could be their tax money they’re buying those things with, or their kids’ college fund, or their retirement money; they’re not investing savings, or they are simply living off loans. That is what is called “Living Poor”.

They are just one bad episode away from total financial collapse, right on top of all of their material excesses. This is more common than you think.

You heard my story if you read the “about me” section. I under­stood early how to “live rich” which is to save money on out of school loan debt by “living rich” with the power to budget, analyze spending, and save. The sooner you get the “live rich” message in your head the sooner you can enjoy “living rich”; now, and forever. That is, to buy most of what you want with the money you have with plenty left in the bank, and you can actually afford what you buy.

“Live Poor” – also known as; complaining about your finances; getting further into debt with bad loans, overspending on most things, and not doing a “Live Rich” budget with what you have. You cannot get sick or your budget would collapse and your life would be consumed by misery.

The basic premise being “you are what you think you are”. If you think of yourself as “perpetually poor”, you will never dig yourself out of debt. All it takes is a small spoon to get started. Eventually you will have a forklift full of financial success, and a life of peace and prosperity.

It always makes me sad when I see people who make a lot of money, but spend a lot more than they make, and they tell me they are saving nothing. Then the faucet is turned off.

No more contracts come in, or the million dollar business collapses, or  in the example of the last decade when, according to the American Manufacturing Association, Wikipedia, and CNBC business news, millions of American jobs went to China.

The American prison system is another constant source of job losses for U.S. workers. According to a non-profit group, Truth-out, companies can move into the prison system via Prison Industries (corporations can operate in the prison system with prison labor paying near slave wages).

After record job losses in the past decade, many people saw, for the first time, what it felt like to have no money coming in to feed those huge bills they had created when they were gainfully employed.  Some simply could not feed their families.

There are other more obvious major reasons for job losses in America. Other job loss reasons include – replacing several employees with one high tech mechanized machine, and in the case of the last decade, the vast mortgage fraud scandals shut down mortgage companies, banks and retail outlets, after massive foreclosures.

In the documentary, “The Queen of Versailles”, a Sundance film festival favorite and re-aired by CNBC TV, the show profiled a super wealthy man who had a business selling time shares with predatory loans, to unsuspecting people. The purpose of the show was to portray how fun it was for his wife to decorate the 90 thousand square foot mansion they were building.

But before the show aired the money faucet was shut off, and his financial empire collapsed. Banks stopped issuing that particular type of predatory loan for poor and working class people to purchase time shares, because many stopped making payments after losing their jobs.

The loans were given to people who could not afford a time share and many did not know they were even signing a loan; they thought they were paying a monthly fee to use the time share. I know this because I have actually spoken to folks who had time share loans; but they did not understand it was a loan.

In the documentary, when the loan approvals stopped, over 8000 employees were fired and no money was coming in to feed the principle owner’s massively extravagant lifestyle. The owner said in the documentary that they had saved no money, not even for retirement or their kids’ college; now that was bizarre. He then re­sorted to getting a small loan just to keep up with some of their bills.

A “time share” is when a building owner sells one apartment 52 times. The buyer purchases the right to stay in the apartment 1 of the 52 times. After you have paid off your loan, (and during the loan period), you have to pay a yearly maintenance fee for life. The “for life” part is the sticker shock people get when they realize this will never stop, something they failed to realize before they signed on the dotted line, and did not read the fine print.

Another example was the recent spate of young entertainers I have read about on yahoo news; one went to jail for not paying taxes when she was in the money, one lost her massive and lucrative cat­alog of songs for not paying taxes, and a few lost their homes. Several book authors were put in the local news in Atlanta because they would not pay their state taxes.

The fees and fines on back taxes are atrocious. Yikes, so many young people say, if only I could make a lot of money, I would be set. In this case, they made the money, but didn’t pay their taxes, and they got set back in time, for a few decades with penalties.

Now you see why the lack of money is only part of the problem. Learning how to “live rich” no matter how much money you have is essential. In this case, the “live rich” principle is;  pay your taxes in a timely manner. Make your tax payments a priority, file your taxes and pay promptly, if you owe.

68 powerful ways to save money

More Live Rich Books Coming at Amazon In June 2015~

Book For Students~ Live Rich Save Money! From Student Loans to Car Maintenance, 9 Wonderful Ways to Save

Book to Get Out of Debt~ Live Rich Save Money! Get Out of Debt Forever, in 17 Amazing Ways

Book to Learn Investing~ Live Rich Save Money! Learn Investing, From Stocks to Mutual Fund Research In 49 Wonderful Ways

68 powerful ways to save money

Saving Money With Real Life Examples of “Living Rich”

=>Buy a certified used car; Lexus, Infinity, or your favorite pre- owned certified new-used car, even if you can afford a new one; the overage goes into savings, retirement or a college fund.

=>Own two cars instead of the four you used to have, with quadruple the insurance and maintenance costs.

=>Buy a $200,000 house even though your mortgage broker tells you that you can afford a $350,000 house. Now, you have a mortgage you can easily afford. The broker will not be paying your monthly mortgage-you will.

=>Buy a three bedroom home you need, instead of that five bedroom home with the big heating bill, and the yard that takes your entire weekend to tend to, or an expensive gardening service to maintain. Now you have time for leisure, or extra savings.

=>Go to a state university with no or small school loans, instead of a private university you have to take out large loans for. No matter how you justify it, having bills is stressful, especially if you didn’t have to get them.

=>Send your kids to a public grammar school, instead of the ritzy private school that breaks your personal bank. You will someday thank yourself for saving the money instead, when you have a catastrophic event later in life. Do education enhancement at home and at the library. Currently, Kahn Academy is a free alternative to education enhancement.

=>Eat at home, preparing healthy meals instead of paying five times as much for food at a restaurant. You save money and you know the contents of your meals.

=>Buy a TV for two rooms in the house instead of five or six. You’ll save money on TV’s, your family can engage in conversation and read more, and you can more easily monitor what your family watches.

=>Decrease your window shopping, including mindless trips to clothing and shoe stores. What you don’t see, you don’t usually want. Staying out of the stores is even more of a savings. Put money in the bank you would have spent on unnecessary clothes or shoes

=>Work on any spending addictions you may have. The purpose of any addictive substance, including material things you don’t need, is to make you “feel good”. They make you feel good until you get the bill in the mail or run out of money early in the month. There are far less expensive and healthier habits that also make you feel good other than overspending.  Make a personal list and try those.

 “Let’s Go Live Rich, Now!”  ~LiveRich, Lois

Save Money by Keeping Major Debts Low

Low-debt is one of the most efficient ways to save money. Interest on high debts is long, lasting and very expensive. If you don’t have a low credit score, the cost is even worse. Those who lost their jobs during the job crises of the past decade and went through the trouble of paying debt down or off, on their home when times were good, found joblessness much easier.

This segment of jobless people had the least likelihood of homelessness when they were laid off. The same holds true with workers who find themselves suddenly disabled.

The lower your debt, the smaller your monthly bills to pay. The smaller your monthly bills to pay, the more you have peace of mind when paying your bills, and of course, the easier they are to pay.

Save Money by Paying Your Bills and On Time

Paying your bills on time avoids late charges. Say you are late on 5 bills; each bill has a $35 late charge. That is a loss of $175, WOW! That is a significant loss, month after month. The loss is huge. When you consider that late bill payments are one of the factors that decreases your credit score, and therefore interest on loans, this is another loss factor.

Pay your bills and pay them on time. Your land line phone bill, your cell phone bill, as well as your utilities, are tied to your credit report. Not paying those and any other bill on time will be reported to the Experian credit bureau.

Bad credit will increase your interest rates and payments on everything. Some credit agencies will not give you credit at all for poor credit.

READ MORE NOW!!, Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever –>Available Now! at Amazon.com

68 powerful ways to save money

More Live Rich Books Coming at Amazon In June 2015~

Book For Students~ Live Rich Save Money! From Student Loans to Car Maintenance, 9 Wonderful Ways to Save

Book to Get Out of Debt~ Live Rich Save Money! Get Out of Debt Forever, in 17 Amazing Ways

Book to Learn Investing~ Live Rich Save Money! Learn Investing, From Stocks to Mutual Fund Research In 49 Wonderful Ways

68 powerful ways to save money

 

Live Rich, Lois

author, Live Rich Save Money! 68 Powerful Ways to Save Money, Now and Forever; an Amazon Book


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