7 Step Guide to Financial Peace and Flashin’ Money Round Up
| November 9, 2010 | Posted by Roshawn Watson under Uncategorized |
I recently saw the rapper 50 cent (well pictures of him at least) playing around with $500,000 without a care in the world (link below in Entertainment Money News). Some may feel I should have been angry like many of the commenters on the site, but to be honest I’m rather ambivalent. It’s his money, so he can do with it as he wants. Also, I figure he sent the pictures out as a joke (even if some find it insensitive). A couple of days later Verne Troyer (Mini Me from Austin Powers) posted a response pic with a witty caption that I just found hilarious (link below). In both cases, I doubt either one of them is presently struggling with money, but what about you?
I don’t believe we’re suppose to struggle with money. The byproduct of living within your means and consistent investing over the long term is phenomenal wealth. There are plenty of great articles and books that teach that you to be comfortable with less. If you are like me though, you would rather learn practical steps to be comfortable with more and to decrease your financial risks. Since money impacts so many areas of our lives (education, health, safety, giving etc.), how do we structure our lives to gain peace regarding money? I’m glad you’ve asked. I’m aware of no secret formulas and no quick fixes. Do not dismiss the Law of Process that states: you cannot always be what you are not, but you can become what you are not. It is unpopular to suggest that change is not always effected immediately, yet it is true. Meaningful change often necessitates a significant time-investment. Accordingly, don’t try to “be wealthy;” instead, “become wealthy.”It will involve work and commitment, but I sincerely believe that you are destined for financial peace and wealth!
If you would like to better harness the power of your money, then please check out my The 7 Step Guide to Increasing Your Financial Peace. It is not as much about building wealth as it is setting the necessary foundation to build wealth. Financial peace is important because it is easy for our souls to be corroded with anxiety and discontent regarding money. Please feel free to share it and comment on it if you find it valuable.
Thought Questions: Tell me what steps have you employed to gain financial peace? Why do you feel that 50 cent and Mini Me are right or wrong in showing pictures of them playing with money?
Now, it’s time to do the weekly Uncommon Money News and Yakezie Round Up.
Uncommon Money News and Round Up
In preparing to write my posts, I often come across noteworthy and sometimes bizarre financial and business news. Below are links to some of these sites. Enjoy!
To my readers: I am so honored by your support. Together, we are telling thousands of the importance of financial literacy. I absolutely could not do it without you: you are vital! Thank you sincerely.
Personal Finance (Yakezie and other PF bloggers)
How We Bought Our Car at Get Rich Slowly – Nicole from Grumpy and Untenured provides very helpful tips on how to smartly purchase a car with minimal hassle and a fair price.
The Comfortable Lifestyle Business or The Big Payout? at Financial Samurai – Sam asks: would you rather make $15,000-$30,000 a month and “work” only 2-4 hours a day or make minimum wage working 12-18 hours a day for two years with a 25% chance of selling your business for $100 million dollars and netting yourself a cool $25 million?
Is All That Education Worth It at Fabulously Broke – FB discusses the disproportionate number of educated individuals that hold jobs that require less than a college degree per BLS and the financial implications of higher education.
How to Have A Frugal Wedding at Everyday Tips and Thoughts – Kris offers some helpful tips on how to have a frugal wedding
Why I Chose To Pay Down The Mortgage Faster Instead Of Investing at Beat The Index – Mich provides some great points of why he is paying down his mortgage quickly complete with comparative tables and calculations
Defending Your Financial Fortress Against Spending Temptations at Money Reasons – Don discusses the fortitude necessary to stick to your financial plan despite continuous financial temptations
Happy Meals Banned as a Part of Food Justice Agenda at Biz Of Life – The Grouch provides an interesting video on how San Francisco’s food cops have banned toys in happy meals; the far-reaching implications of such policies are daunting.
Entertainment Money News
Did James Franco Beat Brad Pitt and Will Farrell at the Box Office?
Emma Watson Shocked That She’s Worth $32 Million
50 cent so bored, he’s just playing around with $500,000 (pics) and Verne Troyer’s response
Offbeat Money News
Would You Give Away $11.3 Million (Penny Frugalista)
The Skinny on Credit Cards (Invest It Wisely)
Plan for Black Friday Shopping (Bucksome Boomer)
Giveaway
Squirrelers gives you a chance to win his Thanksgiving Giveaway ($300 in prizes)
Carnivals that I’ve participated in:
- Carnival of Personal Finance at PT Money– Do You Save Instead of Paying Off Debt?
- Festival of Frugality at Generation X Finance– Good Old Middle Class or Wealthy – You Decide Redux
- Carnival of Financial Planning at ABC of Investing– Economists Blame ME for the Slow Recovery and Why Is Debt Really Decreasing?’ and 7 Surprising Facts About Millionaires
Round ups that linked to posts from this site
-
Kevin at Invest it Wisely – Weekend Reading- Frosty Edition
- Kris at Everyday Tips and Thoughts – Time To Read
- Don at Money Reasons – Will The Dow Rally?
- Nicole and Maggie at Grumpy and Untenured – Weekly Round Up New Blog Picks
- Kay Lynn at Bucksome Boomer – Week in Review – Time Change Edition
- Penny at Penny Frugalista – Posts That Piqued My Interest – Fall Leaves Edition
- Sam at Financial Samurai – Samurai Fund Update and Highlight Posts
- Free Score at Free Score – Weekly Round Up New Blog Picks
I think it's great that 50 cent and even Verne Troyer are rich and doing so well!
They are entertainers, and the market is willing to pay them that much money… so why not.
They didn't steal the money, it's legit, so hats off to them! I wish I were as rich as they are 🙂
It's sad that a lot of people hate the rich (even the new rich). I say applaud them and try to become rich too…
Oh! That's explains it. When I saw sister blog, I figured that it was one of your friends!
You are welcome. I really liked your article a lot. I wish I would have focused on it some more because it is a very important but uncomfortable discussion!
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
Yes, I figured we would agree on this one. It's a private property issue: they earned it regardless of whether some people like that they got their money through entertainment or not. If they want to play it or buy a ginormous house (i.e. 50 cent's 50,000 square foot abode), more power to them!
I don't have the energy to hate because I'm too focused on building my own wealth and helping others!
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
Yeah 🙂 I know it gets confusing. I have two blogs. One is a personal lifestyle + money blog, and the "sister blog" is my minimalism spinoff.
That's another great point. People often forget that wealth can be dynamic, especially among the very high income folks (a couple million a year). Thus, I agree that there is a great likelihood that their money would be redistributed to many people in the form of goods and services that people will provide for these entertainers. I also find liked the fact that you addressed the hypocrisy of elevating someone to a very high economic position only to criticize them once they become wealthy.
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
Yes, there is some complexity there, but I can definitely see how the content could flow together!
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
It would definitely be fun to have so much wealth that you could just play with bricks of it, like that!
Thanks for the mention!
My recent post Gold- Revisited- Is 1500 Near
Thanks for the mention Shawn. I'm with you when it comes to 50c and co playing with money.
I just hope they don't end up broke one day or they will look really stupid in those pics!
My recent post Interview with Keith Schaefer the Author Behind the Oil and Gas Investment Bulletin
You are welcome Kevin! BTW, I got your post for the carnival!
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
Mich, you are welcome! You are right. That would be VERY embarrassing. At least 50 cent is known for being an astute entrepreneur. I hope he is also an investor.
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
Yes, the experience did sound much less hostile than what I hear typically occurs.
Your description of financial peace is bordering financial independence and is quite peaceful indeed.
Pictures: oh come on. It's fun to take a side, even if your side is ambivalent 🙂
Best Regards!
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
Ha! No, I meant reader story posting at GRS was really fun. I'd be happy not having to buy a car again if ours would stay in great shape forever. Though buying the car the way we did was less painful than our previous experience, I wouldn't call it fun!
My recent post Family on the internet- Part 2-
Okay, that's fair enough. I hope your car stays in fabulous shape then!
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
Hi Shawn, I agree with pretty much everything. The guest post was great (as was the picture:) ). IMHO 50 cent and anyone else can do whatever they want with their money-even if they're just fooling around. There's so much to check out in this post, I think I'll check out one of my favs, James Franco link!
I think that's the best attitude 🙂
Life is to short to hate! Perhaps get frustrated sometimes, but not hate.
My recent post Multiple Purpose Stock Dividend Investment Funds
Yes, there is plenty to be frustrated about, notwithstanding what someone does with their own money. However, hate can consume you and often accomplishes nothing more than your own soul's destruction .
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
Thanks so much for checking out the guest post Barb!!!
I guest most people here just have more respect for the private property of others than the general public, as there has yet to be a negative comment regarding the comical pictures (not mine but theirs 😉
I thought the James Franco link was interesting. Not only does it provide the box office stats but also shows you just how well 127 (Franco's new movie) did in terms of dollars/theater compared to the competition. Unfortunately, I believe it was only shown in 4 theaters last weekend.
My recent post 7 Step Guide to Financial Peace and Flashin Money Round Up
I think the first and most fundamental step one needs to employ to gain financial peace is the one that Shawn lays down in his ebook Foundation to Wealth. And that is budgeting.
When you budget, you know what’s going on with your finances. Knowing where your money goes is half the battle. Many people are not aware of their expenses
When you budget you take control of your finances.
Budgeting brings order to your finances. You keep records. Decide ahead of time how much you will spend this year
Budgeting frees up extra money. Increase communication and allows you to redirect your financial course
Hey Matt,
Thanks so much for bringing up budgeting. I'm of course partial to it because I have found it so helpful personally. It gave me unbelievable control in a way I wasn't aware was possible. BTW, I was going to email you tonight. I'm would like to run your article next week. I'll shoot you an email a little later!
My recent post What Are Your Financial Regrets