Archive for Houston Businesses
TomTom Cutting Debt. Listen Up Folks Maybe We Should Too!
Posted by: | CommentsLook at these guys actually doing something we should all do. Why is it that we get into debt? Not to say I’m not in debt…. It is really frustrating and sometimes a true surprise! My wife and I will be going on day to day making up ground getting closer and closer to freedom and then WHAM! something happens. It isn’t always an emergency or unexpected event, I think we as a society are brain-washed to have and crave things. Every day is a struggle to make good financial decisions. I wish we could raise money by selling stock.
You know how it can be we all have our weaknesses. Be it that new mini-van we spotted driving Jimmy to soccer practice or that amazing 52inch LCD. It’s programmed into us from day one. We are supposed to want things regardless of the cost we should want them and we’re made to feel like we need them. My wife would argue this point but I am certain the media and mass advertising really breeds this “gotta have it” mentality. It really is quite frustrating to know and realize this, and yet continue living the same way we did when we didn’t know. So what can be done to fix it? Plenty will say, “make a budget and stick to it!!” and I’ll admit that has been the best way for my wife and myself to really grasp where our funds go. It all really boils down to this…..What do you want from life? Being debt free won’t necessarily make you a happier person……. Can you imagine how much easier life would be?
So this is my commitment to myself and you all. Debt free or bust! Now I’m not going to be Dave Ramsey and follow that kind of path. I’m just going to watch what I spend and work on it as a family. Dave Ramsey has some excellent points but I need my credit score to be solid… I’m not cutting up my card in the hopes that the lenders will in the future overlook my lack of current credit and lack of established credit if I do need it. I’m stronger than that, I can prevent myself from using the cards…maybe…The plan is to be completely debt free by this time next year. I’m not even saying “Don’t spend money SAVE SAVE SAVE,” I’m saying “SAVE SAVE SAVE” for those items you really want. Who cares if it takes you 6 months…you will feel better for it in the end. Who knows, with the money I save, maybe I can really invest in something that can generate some significant income. Let me know what you think. Any ideas?
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Your job IS a business!
Posted by: | CommentsDo you think that being an employee is more or less risky than being a business owner? Being an employee is a risk both emotionally and financially. Which of the following is true if you are an employee?
- You can control, to a large extent, how much money you make.
- You have the freedom to arrange your schedule based on your priorities.
- You don’t pay for other people’s mistakes.
- When you leave your job you can SELL it!
If you own your own business all of the above are true, if you are an employee all are false. Which would you rather be? Do not make the mistake of thinking that being an employee doesn’t carry risks at least equal to being a business owner. The biggest financial risk of being an employee is that you give to your employee the value you create as an employee. You get paid for the tasks but not for the value you build. For instance… if you work for BigCo and you have an idea that increases BigCo’s profits by $50,000 per year, you might get a $10,000 bonus for that year BUT BigCo gets the $50k additional price times 10 in the share price. So the company gets $500,000 in value and you get $10k. That’s the risk you have as an employee…the risk of giving away the value you create. You just gave away $490,000 in exchange for a salary. Salaries rarely make you rich! Equity value often brings you— wealth!!. Think, research, analyze, decide.
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