Learning how to manage money is more than numbers. It's a lifestyle you can't do alone. Join the club and become a money boss 😎 Follow the Telegram group and learn a lot more about money management https://t.me/moneybossclub
MONEY BOSS CLUB
Claim This Podcastby ND STRUPLER
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16 episodes
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Podcast Overview
Learning how to manage money is more than numbers. It's a lifestyle you can't do alone. Join the club and become a money boss 😎 Follow the Telegram group and learn a lot more about money management https://t.me/moneybossclub
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Publishing Since
12/14/2023
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Recent Episodes
April 21, 2024
📶 Make More Money
Join the Money Boss Club on Telegram now! https://t.me/moneybossclub How to make more money There are several ways to earn more income. Work hard This is one of the most common ways to earn income. By working, you can earn a regular salary or wage, and the amount you earn depends on the number of hours you work and your level of expertise. To increase your income through working, you have these options. You can work more hours You can ask for a salary raise You can learn new skills and become more valuable to your employer You can ask for a promotion an take on more responsibility Sell stuff you don't need Clean out your old clothes, electronics, or furniture and sell them online or at a garage sale. Rent out what you have extra Got a spare room or a fancy camera? Rent it out to make some money. Get paid for your hobbies Do you love to fix things, write, or design? Websites can connect you with people who will pay you for those skills. Make and sell crafts Are you crafty? Make things like jewelry or baked goods and sell them online or at fairs. Teach what you know Are you good at something? Share your knowledge with others by making online courses or giving lessons. "Give to others, and you will receive. You will be given much. It will be poured into your hands--more than you can hold. You will be given so much that it will spill into your lap. The way you give to others is the way God will give to you.” Luke 6:38
March 31, 2024
🏡 The “I want a house” trap
<p><a href="https://t.me/moneybossclub" target="_blank" rel="noopener noreferer"><strong>Join the Money Boss Club on Telegram</strong></a></p> <p><br></p> <p>”I want a house on my own land”. I hear this everywhere I go. Before we go into if and when this is a good idea, let me ask you, who has put this idea in your head? I know who shouts this the loudest - the banks and loan finance companies. They put up big posters and advertisement on social media of the new home and make it clear, that you have been dreaming about this all your life. </p> <p>Did you ever ask yourself why the banks have the best locations and the nicest office buildings in every city? </p> <p>Why they pay good salaries and the owners are the riches people in the country? </p> <p>The reason is simple. They tell you that you need a house and a land and they will provide you with a loan. They pretend to help you follow your dream, but in reality they will make you a slave and you are working hard to make them more money.</p> <p><br> A house and with a little bit of land is can easily come to $80’000. Every bank is happy to give me a loan to buy it. The reason is the bank always wins. If I pay off the loan in the next 15 years the interest I have to give the bank about $40’000. I worked for the land and house that is worth $80’000 when it was new, 15 years ag o. I also worked very hard to pay an extra $40’000 to the bank. Now the house is ready for repairs and I am tired of working for the bank and have nothing saved because my payments for the loan where so big that I had not money to save. For sure the bank is now very happy to give me another loan to help me repair my roof, well and repaint my house. I take another loan and continue to work for the bank. Now I am broken, angry and frustrated and regret my choices. Why in the world did I ever needed this house? Now I know, a house is a liability not an asset.</p> <p><br> Let me tell you there is a better way to have a house and land without the punishment of paying interest and falling the into the loan trap. I now know about the power of compound interest and I know that I will let the bank work for me. I rent a small place and make a saving plan for the next 10 years and put $450 into a long term account with 8% interest. You know what is crazy? I will have saved $54’000 and the bank has given me $27’000. I love it when the bank works for me. I want the bank to buy me a house. When I move into my new house on my land it is payed off. Now I can continue to save $450 for my next goal. I am not in debt. I am free! If repairs come in 15 years, I am ready.</p> <p>There is nothing wrong with wanting to buy land and a house. But there are good ways and bad ways to do it. </p> <p><em>Make a smart decision and don’t waste your money. </em></p> <p>Before you take a loan play with this website to clearly see how much interest you will pay for borrowing money. </p> <p><a href="https://www.nerdwallet.com/calculator/loan-calculator">https://www.nerdwallet.com/calculator/loan-calculator</a></p>
March 24, 2024
Prepare your Retirement 👑
<p><a href="https://t.me/moneybossclub" target="_blank" rel="noopener noreferer">Join the Money Boss Club on Telegram</a></p> <p> Imagine yourself at the age of 65 years old. Picture yourself relaxing, drinking a nice cup of tea and watching your grandkids play in front of your house. No worries cross your mind. The kitchen has more than enough food for the whole family. As you watch your kids, your mind thinks about the next birthday gift for one of the grandkids. A smile appears on your face as a result of thinking back on the smart decisions you made, preparing yourself with a financial plan to secure your retirement.</p> <p>Your retirement is your future</p> <p>To securely prepare yourself for retirement, the best tip I can give you is to start as early as possible. The earlier you start, the easier it is.</p> <p>If you start saving for your retirement at the age of 20 you have 45 years to accumulate savings. The monthly savings will be very small. Let’s say you have a salary of $300 and you put 10% ($30) into your retirement. In the first year you will have $360 saved. Your salary will increase and the interest in your retirement account is starting to compound. If your salary doubles every 10 years you will have more than $250’000 in your retirement fund. If you stop working at the age of 67 you don’t need to worry about asking your kids to support you. You will have enough until you are 90 years old.</p> <p>Let’s play with this savings calculator: </p> <p><a href="https://www.nerdwallet.com/article/banking/savings-calculator">https://www.nerdwallet.com/article/banking/savings-calculator</a></p>
16 total episodes available
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This podcast updates weekly.
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