Mogul In Training

Quirky; Strange; Odd--these might be words some of us may have heard a time or two in our lives as a description of who we are, especially if we are into Minimalism and/or Frugality. Most people consider being calld weird an insult; I know I used to. Now, I consder being called weird a compliment

Nowadays, when someone is called weird, it simply means he is different from the masses. When I take a look at American society, I mostly see a culture of people who have no idea who they are, what they believe in, and, as a result, are living unfulfilled lives. We are, largely, a media driven, mass consumerism, keep up with the Jones society that is waking up to the same humdrum life, day in and day out. If this is what it means to be "normal", then I'd rather be labeled weird any and everyday of the week.

So, the question is: Are you normal or are you weird? If you conclude that you are normal and would like to join us weirdos, I might suggest taking the following steps:

Find a "weird" mentor

Growing up I didn't have any real-life people I looked up to or aspired to be like. Although my grandmother was somewhat of a financial role model, ALL of her views and opinions were EXTREMELY antiquated, to say the least. As a result, I gained my "weird" role models from viewing and reading biographies. My top five "weird" role models are, in no particular order: Mia Farrow, Marc Cuban, Oprah Winfrey, Maria Shriver, and Ted Turner.

Learn to Put Little Value on Other People's Opinions

Some of the best advice I've ever heard came from Oprah Winfrey. She said, 'It is not my business what others think of me." When I heard this statement, I had an 'Aha' moment. Additionally, I would advise you to stop telling people your plans because people, especially "normal" people, are dream killers. When you tell your plans to dream killers, it's in their nature to be pessamistic and you have no one to blame but yourself for subjecting yourself to their judgment.

Take the Necessary Steps to Eliminate Fear From Your Decision Making

We were not born with a spirit of fear. We become fearful because we begin to conform to societal pressure to be "normal". Fear, therefore, is nothing more than allowing other people's opinions influence your decisions for your life. Learn to block out the other voices, while listening to your inner voice and you will find that your fear will begin to dissipate. Do this until it becomes a habit, and your fear will vanish permanently.

When you take the essential steps to be true to yourself and embrace your inner oddball, you'll be surprised at how natural it becomes to be labeled "weird".

Different people view money differently. The book "Your Money or Your Life' defined money simply as what we trade out time for. Others may view money as a means to status or acquisition of material items. Then, there are still those who may have a negative view of money because of the opinions of money that may have been passed down from childhood. I, personally, view money as a tool--a very important tool.

I know it's very important to keep money in its proper perspective. Some people lose sight of this fact due to greed or other selfish reasons. People and relationships definitely trump money. But after acknowledging that people should come before money, I feel it's imperative to also acknowledge the imporance of money. I HATE, with a passion, when people say money is not important. Whenever I hear someone say money isn't important, my response is always, 'If money isn't important, then try living without it. Good luck with your life of homelessness, nakedness and starvation." From my experiences, the people who say money isn't important are usually those who are being irresponsible in their handling of money.

Money is important because it's a tool we use to acquire our basic necessities for life--food, clothing, and shelter. Even people who don't value money, and as a result, are not responsible with it, must use someone else's money to exist; whether it's government, mooching off family and friends or committing illegal acts. This is why I cannot tolerate when people dismiss the impact of money and treat those who have a healthy value for money as money obsessed.

I value my money because I spend a great amount of my life working to earn it. Anything that requires such a great time commitment from me, deserves my respect. Money is also the means by which I build the life I desire. Money affords me a life that is fulfilling to me and brings me some degree of joy; the type joy that comes from things like a comfortable home, a great vacation, or a delicious meal.

I implore everyone to analyze what money means to their life--whether good or bad. If, after examination, it is determined that the money relationship is one that is not in line with one's values, then it's time to make the needed changes. But this change in perspective cannot come without the necessary introspection.

So, have you given the question any real thought? How do you view money?

I will admit that during our depressed economic state, there is enough blame to go around; blame for the auto industry, housing industry, wall street, etc. But when it comes to individual debt, we all must take responsibility for our personal financial state. My participation in the blame game was not about me blaming others, but me taking the position that there was simply no other categories in my budget I could reduce cost. Since coming to my senses, I've gotten rid of cable, adjusted my thermostat accordingly, looked at alternatives to buying (such as borrowing or bartering), reduced the use of my car, and not paying for Internet on my cellphone. These are just a few of the ways I've taken responsibility and reduced my expenses.

However, for some people who are in debt, simply reducing expenses is not enough. For those in extreme debt, desperate times may have to call for desperate measures---like getting a second job, if necessary. I know a lot of people are going to say, 'Yeah right...a second job in this economy?' But, I recently wrote a post about how my sister works two jobs to afford her big house. She acquired her second job about 5 months ago---during our current recession. My point is, in order to take full responsibility for paying off debt, a second job may be the only way to make a dent in the debt balance when cutting cost simply isn't enough.

When I speak of securing a second job I definitely speak from experience because I've had more than one job at different stages in my life. Although I'm not currently working a second job (only because I earn enough money to make sizable debt payments) you better believe I would if my debt balance necessitated it. Putting an end to the blame game and taking personal responsibility, in regards to becoming debt free, means taking the necessary actions, by any means necessary; even if that means sacrificing a few more hours of your personal time and putting in some sweat equity.

So, I'm interested to know, have any of you taken on a second job to pay off your debt or do you feel a second job is not worth the sacrifice? Or have you gone the route of extreme cost cutting?

I can honestly say I don't have many temptations. I am a handbag addict, but even that I don't consider a true temptation. I don't just buy random handbags in ridiculous colors. All of my handbag purchases are well thought out; I comparison shop (usually on the internet); I ensure they can be mixed and matched with other items in my wardrobe; and under no circumstances do I buy a bag that is similar to something I already have in my closet. So, the handbag thing....although I consider it a festish, I, pretty much, have a handle on purchases. So, that still leaves the question, what are my temptations? Hmmm....

I would have to say my temptations are going out to eat and traveling. Both of these things are tempting to me because they usually signal GIRL TIME! When I think about going out to eat, it usually means me and my girlfriends going out to a casual restaurant, sitting on the deck while eating, laughing and indulging in a few drinks. Likewise, because I'm single, most of my travel is with friends. It is SOOO hard for me to turn down an invite for a trip that is anywhere out of state. I love to travel, meet new people, and have new experiences. Additionally because I come from a family where people were content to just scrape by, there was no eating out or traveling for me as a kid. I believe this is another reason why I love these two experiences so much.

In examining my temptations, I have come to realize that my temptations aren't about spending money; rather they're about having experiences with people who are close to me. I guess this is why it is so hard for me to resist. But, because I'm living my life with financial goals, I believe I've found a balance that is reasonable and doesn't leave me feeling deprived--in regards to eating out, that is. The issue of traveling is a whole other story. I'm still trying to find a balance. For now, my solution has been to turn down smaller trips and save for that grand vacation.

So, those are my temptations. What are yours? And have you figured out why these are temptations for you?

I made my last lump sum payment of $819.63 to my Chase Mastercard!!! It feels sooo good to be free of credit card debt! I just need a moment to take that in.....*Exhales*. Now, I'm not one of those people who despise credit cards and preaches how they are evil. I have always known that credit cards are DEBT and MUST be repaid. Therefore, I have always used them responsibly--even when I did carry a small balance here and there. After completely paying my cards of, though, I have a completely different feeling about carrying a balance--I will NEVER do it again. And to ensure I never carry another balance, I'm only going to use my American Express Optima (no annual fee) to ensure that I pay the balance each month. Being free from credit card debt is a WONDERFUL feeling....

On the issue of the doctor's bill...It turns out I did have a credit in the amount of $1100.00. But instead of being transferred to the physician's bill to pay down that balance--which is a little over $1,700.00--only $700.00 can be transferred because my doctor's bill has increased to $400.00 to pay for my first follow up visit after my surgery. So, after the $700.00 transfer, I will owe approximately $1000.00 to the physician. That wouldn't be so bad...but, of course, there's always a catch. My initial follow up doctor's appointment was to test my thyroid levels because now I'm on complete thyroid hormone replacement. I was originally prescirbed 125mg of Synthroid (thyroid hormone), but upon receiving the results of my blood test, it was determined that my thyroid levels were too high. As a result, my medication has been reduced to 1000mg. I have another doctor's appointment on August 18th, for yet another blood test to determine if 100mg is the correct dosage. At approximately $400 a test--after insurance payment--this could get expensive. Of course, I'm praying 100mg is the magic number. After my second follow up doctor's visit and subsequent blood test, my total medical bill will be approximately $1,400.00.

Once the medical bills are paid, the only other debt I will have, besides my mortgage, is my student loan balance owed to Sallie Mae to the tune of $5,526.49. The plan is to have both bills paid off by the end of the year *Keeping fingers crossed and sending a silent prayer that I can make my goal and be debt free by the end of the year*.

Long gone are the days when one stayed with a single employer for 30 years, then retired with their pension and gold watch. Even before the 'Great Recession',many people stopped believing in the term 'job security'. And while many don't feel secure in their jobs, they feel it is better than the alternative. Now more than ever, people are unsatisfied with their jobs, but many are not willing to rock the boat, given the status of the current economy. Because of people's fear and apprehension, they ignore the glaring signs that it may be time to leave a job that is unfulfilling. The following are a few signs most of us have had at one time or another at some point in our careers:


* You dread going to work everyday--I'm sure most of us have felt this one before. Getting out of bed in the morning is the absolute hardest and you seem to be more tired in the morning than any other time of the day.

* You are starting to get sick--I have an online buddy who recently left a job that was literally giving her migraines everyday. She took a lot of flack from friends and family for a leaving a job in this economy, but when a job is literally making you sick...

*There's no room for advancement--Again, we do not live in a society where people stay in the same job their entire work life. Even if a person remains with a company for a number of years, it's usually because he was able to move up and continue to gain new skills. My motto is, "If I can't grow, I gotta go".

* The company is in trouble--Is it worth the stress and worry for a company that may not be around much longer?

* Emotionally Abusive--You are suffering emotion abuse from either a supervisor or co-workers or both.

* You're bored--The job is no longer challenging and the company won't consider you for other positions.

* You're burned out--You are experiencing exhaustion of physical or emotional strength or motivation usually as a result of prolonged stress or frustration. And you don't see any other remedy to this problem except to change employment.

* You're underpaid--This issue is not just the underpayment, but the fact that the raise scale is not sufficient, therefore even with annual raises you are still underpaid.

Are you currently experience job burnout or have you experienced in the past? What was your solution? Our current recession is forcing a lot of people to stay in jobs that are slowing draining the life out of them. In this economic climate are you more inclined to stay in a stable job you hate just for the security it provides or are you at a financial stage where you could afford to leave a draining job and ride it out until you find a job that fulfills you?

Contemplating....

We have heard it said a million and one times since the start of the recession: "This is the greatest recession since the Great Depression." This recession period has also been called the "Great Recession." Despite the 24 hour news coverage of every aspect of the recession, from the housing bust to the loss of jobs to the Oil Spill, the question that remains in my mind is, has the Great Recession had a permanent impact on how Americans spent their money, save and invest their income and view debt? In other words, will the recession have a positive impact on Americans' spending habits once the recession is over (technically, it's already over, according to the experts).

In my opinion, the recession will have the same effect as a yo-yo dieter; and, of course, everyone knows the symptoms and the consequent effects. There is an event that snaps the dieter into action--for example seeing a picture of oneself at an event and being jolted into the reality of just how much weight has been gained. Next, the dieter researches a variety of diet plans and decides which one fits. Then for months the dieter diligently follows the diet, sees results and vows to continue the healthy lifestyle, eating habits and exercise---and for a while is very successful at maintainance. But, slowly and unbeknownst to the dieter, the healthy habits are practiced less and less as day-to-day life takes precedent and the dieter isn't "dieting" anymore. Before you know it, the dieter has gained the weight back, is depressed again and doesn't even realize how he got back to square one. This is how I view most people who have changed their financial habits as a result of the recession.

Being financially responsible has to be a permanent mindset. It's not something you can just turn on and off or else you will find yourself right back where you started from. Just like I've known people who have lost weight only to gain it back again, I've also known people who have used their income tax return to pay off all of their debt and even go so far as to cut up their credit cards. But, somehow, they always end up right back in debt.

I never had a lot of debt and it was never really "bad debit". Although I would sometimes carry a small balance on credit cards, it was never more than I could pay off with one lump payment if I chose. Any other debt was mortgage and student loans, so, naturally, I thought I was doing just fine. Despite being fine, by most people's standards, in regards to debt, something clicked with me and I felt I needed to change. Instead of wanting to be just 'fine' in regards to debt, I decided to become completely debt-free FOR LIFE.

I still have not identified what my 'Ah Ha' moment was, but somehow, someway I got 'IT'. Whatever 'IT' is, it's what I feel the majority of the temporary, "only financially responsible because of the recession people are lacking. It is that lack of 'IT' that will, more than likely, place them right back into debt when this recession and effects have passed.

Can you identify your 'Ah Ha' moment?