Community Extras – Week of 11/01/21
Good morning! Here are this week’s bonus tips and nuggets from around the community. To get these every day in your inbox, sign up to our daily newsletter where you’ll see these faster, as well as our top 3 curated articles every day!
👉 New book out in the space: “IT IS POSSIBLE!: How I Earned Two Debt-Free Degrees and How You Can, Too.” by Jason Brown
If you’ve been told, “The only way you can go to college is to take out loans,” you’ve been lied to! IT IS POSSIBLE! provides relevant information to help potential higher education students graduate debt free by:·
- Understanding the real cost of college
- Learning how to find millions in unused scholarship and grant money
- Exploring more cost-efficient means to traditional college
- Saving money while in college – yes, it is possible!
This book serves as the “answer” to the student loan debt crisis and is designed to provide strategies and offer hope to individuals who desire to avoid student loan debt and graduate debt free. 70% of college students graduate with debt. Become part of the 30%!
More about the book/author: Why I Wrote Another Book
👉 Paying Rent
Next time you sit down to pay the rent (or the mortgage), take a minute to turn inward and give some real thought as to how it makes you feel. Does it produce annoyance? Resentment? Drudgery? Fear? Happiness? Pride?
It’s that last one for me. There have been a number of times in my life where there wasn’t always enough money to pay the rent – and often even if there was, something else had to take a hit.
So today, no matter how well I’m doing financially or how easy it is to take care of the monthly bills, I find that I’ve still never lost that feeling of relief, satisfaction, and pride that comes when the rent money is available in my account, ready to be sent out with no fear.
– Nate St. Pierre, Observations From a Human
👉 A Great Game For Teaching Kids About Money
There is a game I highly recommend you play with your kids to teach them the principles of personal finance. While they are having fun playing the game, they don’t even realize they are learning valuable life lessons about how money can change their lives. Sounds like a great Christmas present to me.
The game is Cashflow (Investing 101). It originally came out in 1996 and was revised in 2014. I own the original game for kids age 10 and up. There is also a kid’s version of Cashflow for ages 6-10. (I do not have any financial relationship with the maker of the game.)
The object of the game is to get out of the rat race and onto the fast track to wealth. The rat race is your job, where you trade your time for money and are thus limited by how much time there is in a day. By the time you get to the fast track, it is your money that is earning you more money, not your time. Another great lesson in economics.
👉 Always Ask Why
When a new post commander arrived at an Army base, he was surprised to see a couple of his soldiers standing sentry over an empty bench.
It seemed like an odd thing for soldiers to be doing, so he asked a sergeant who had been on base for a few years why the bench was being guarded.
“I don’t know why,” the sergeant said, “but I’ve heard we’ve had men assigned to that bench for the past 35 years.”
The post commander dug back through personnel files and found the name of the man who was in charge 35 years ago. He grabbed a telephone and called him up.
“I’m the new post commander, and I have a question for you,” he said. “Why is that bench so heavily guarded?”
The old retiree was shocked. “You mean the paint still isn’t dry?”
(Source: The Sentinel Echo)
Usually when we get financial advice handed down to us, there may have been reasons for that advice. But we can’t just blindly follow advice because it made sense at one point.
So much of what we’re used to made sense at the time, but times change and the paint dries.
👉 This week around the community:
- The Money Principle is back!
- The Power of Thrift is back!
- Stealth Wealth Family buys a tiny house on 70 acres
- Crispy Doc accepts a position outside of clinical medicine
- The White Coat Investor launches the 2nd WCI Champions Program
- My Quiet FI gets approved to be foster parents (and gets their first placement!)
- Barry Ritholtz turned 60
- SIPOFI (Singles in Pursuit of Financial Independence) St. Louis Meetup, November 6th at 4 pm — More here
- Katie and Alan Donegan (free) Lunch ‘n’ Learn finance course, November 15th at 11am at Pasadena Comedy, Los Angeles — More here
- 2022 Chautauqua in Ecuador, June 18-25 in 2022 — More here
Popular convos around All-Star Money:
- Twitter: What’s one childhood memory you have about money?
- Twitter: What’s one Twitter account you discovered this year that has made the most impact on you? (and why!!)
Get these articles in your inbox
Bloggers: we want to feature your best work! Get your site on our radar.