Bye Bye bloggy

Hey,

After some intense thought (not really any thought) i decided to shut down this blog. However, You can still read my posts on my new blog VIA my financial site (Palmer Choice LLC) Palmers Choice is a Financial website that i am creating to fight the war on debt and to teach people who to invest.

Thank you for those who have read my posts...Hope at least some knowledge was brought to you........


JP

Bad Financial Advisors

Been awhile since i've posted....

Lately i've been seeing Financial planners/advisors giving really bad advice to people.....I read an article today about a couple that lives in Chicago. They have a 1,350 mortgage payment that they can't afford. So a non profit company that gives advice told her to put all her bills on credit cards and catch back up on the mortgage. Most people would probably agree, because thats the way america thinks today. But, its wrong. Your not fixing the problem. Your putting a bandaid over the problem. Why you ask? Because once you get that mortgage payment back current. your gonna have a nice HUGE credit card bill stearing you in the face. So now how are you gonna pay off the credit cards? minimum payment for 20 years? wow that sounds bad don't it?

The only real solution to this problem. is selling the house.....Because they can't afford it.....People argue saying its an asset....Tell me, how is a 1300 dollar mortgage that your 3 months behind on an asset? Unless your a real estate investor you should NEVER LOOK AT YOUR HOUSE AS AN INVESTMENT TO MAKE MONEY ON. don't misunderstand me here, Yes its an asset. but its not cash....Anything you can't afford is a liability...That asset becomes a huge liability once you can't afford it....

Probably 20 people in the last week told me i wouldn't be a good financial advisor. Because i don't understand debt to asset ratio...........Nothing is a real asset unless you own it. YOU OWN IT!!! Meaning your not putting payments down on it...You don't own it unless your holding the title and its has your name on it......

Gawd America makes me sick this day in age......Materialistic ass monger of a nation...and yes im a citizen of America

JP

Business Spending Card

Good Morning,

I was watching the news last night, and they had a news story about DISD (Dallas independent school district) staff spending wildly on the school card during a trip to Toronto. They had the CFO on talking about how they need to moderate the spending. But from what I saw, all he did was make excuses for his staff over spending on there card. This in my opinion is just ridiculous. Why is the chief financial officer making excuses for finances he's in charge of? You don't, You do two things. One you put spending limits on the card, or two you completely shut down the card program. If you go to conferences you have management buy the tickets. its managements responsibility to keep control of the faculty.

What gets me about this story, is this happened after they uncovered a 3 million dollar spending spree the school staff went on last year......I'd fire the CFO personally. What an idiot!!!!

Success VS Failure

Hey

I woke up this morning with a thought of why people fail.....

The conclusion that i have come to is. People don't want to get out of there comfort zone. They are afraid to lose what they have now. But yet they really want success others have. That truly won't happen unless you realize what little you have to lose.

I have to admit, i've personally had this problem. One day i got up really pissed off at myself and took a good look at my situation. I think thats what people have to do in order to change for success. You have to get so mad at yourself and your situation where you could care less about what you could lose.

A Failure always makes excuses why he or she can't do something. They don't want to fail so they don't try.

A Successful person fails 100 times and gets up the next morning and does it again.

My personal thought it, I'd rather fail 100 times and succeed once then never try at all, That is my definition of a successful person

Leveraging/Tax Benefits with debt

Hey,

Today i want to post about leveraging of debt and tax benefits you'll receive.

Accountants and some investors tell people to take on debt for leverage. This whole concept is beyond me. They say that living debt free is all emotion and not financial. I want somebody to tell me how its not financial. When you live debt free you only have utilites, rent, food, and other expenses you have to use to live. Sense when do you need loans to live? Leveraging and using college loans and mortgages for tax benefits is rediculous. Why don't you add up how much money you'll save over 30 years when you don't have a mortgage and then put it beside your tax benefits. The same goes for college loans. Sounds pretty stupid when somebody says there gonna keep paying it off because they get 500 dollars a year on there tax return.......PAY OFF THE LOAN IDIOT!!!! Your interest alone will out weigh the freakin benefits...Thats just as bad as credit card rewards!!!

Look the only reason society has no money, is because they have too much debt. People say savings is impossible because they think having all those bills is normal....

Benefits of no loans..

you can put that mortgage money into a mutual fund and see huge returns

All you have to worry about is utilities

You live debt free!!!!

Credit Card Reward Points

Hi!!


Credit card reward points, Oh what a wonderful thing. Get 5% back on gas and other qaulified purchases. We will save so much money!!!! WRONG!!!!


People are so funny. Lets go pay 35 dollars to fill up our tank and get 5% back. $1.75, In order to pay for 1 tank of gas you have to spend $875 in gas to get 1 free tank of gas. People tell me i can't look at this as an investment. But i disagree with them, You put gas in your car to go to work right? Your investing in gas to get a return (a paycheck) at work. Now i don't know about anybody else but i want a better return then 5% on my investments Your spending 875 dollars for a return of 1 tank of gas? Please!!!!! thats rediculous!!!

Now this one really makes me go A-wall, Flight miles on Credit cards....On Capital One's plan you have to spend $48,000 in order to get a 480 dollar ticket....Thats a really good deal at 14.40% interest.....NOT!!!

Credit card rewards do not out weigh the purchases you put on the card. On average people spend 15% more when they use a credit card, then with debit or cash. Because there is emotion when you use REAL money!!!

Oh and please don't post that if you pay the minimum each month the rewards are good. Cause if everybody paid the minimum the national savings rate would be more then 1%........The only person who wins with credit cards is the CREDIT CARD COMPANY...

Living without credit tough and expensive

Wow!!!

Found an amazing article....Maybe i should go out and get a credit card. Cause its more expensive to live on Cash..........haha....Good one huh?

i found a bankrate article by some woman that works for the education department at Experian.....She explains why life is so hard without credit....I just want to point out that the majority of these articles are written by credit companies or credit agencies....So without credit they don't have a job......

Basically she said that life without credit is more expensive because you won't be able to get a washing machine or big dollar items if you don't have a store credit card or major card.....Im not gonna blabber about this much in this article but do i really have to remind the world that you pay interest and card fees?????? Have you EVER seen a fee using cash?....

Credit cards are there so the world can buy stuff they can't afford...Thats why they exist..Pretty simple.....Companies make money off you using there card...Thats the whole purpose of the credit card company....Experian makes money off you wanting info on your credit report......

Life is alot simpler without credit. Your only bills are gonna be your utilities and taxes and insurance.......If you own everything......or you can go the credit route and pay 650 a month for a car and have 15 credit cards with a balance of 500 or more...The reason America has no money is not because of there job, its because they use credit cards and keep paying them....and its not going into there pocker where it belongs........

All Apartment companies don't look at credit they look at renters history
All jobs don't look at credit ( if they do you show them your 35000 in checking and your mutual funds) The whole reason they check your credit is because they want to see responsibility....having no credit and 35 grand in checking shows alot more responsility then debt....

a Utility company is not going to deny you because of no credit...Thats rediculous...They will deny you have you have late pays

only Smaller insurance companies base your rates on credit.


So mrs experian teacher lady.....Hope your job is going well...Making the USA poorer by shoving drival down there incocant throats.......

I personally know a guy who's net worth is 15 million dollars....he's never used credit

i know of a man who is worth 448 Milliom dollars........he's never used credit either..

And both of them are first generation rich......They made all of it themselves...

Broadband phone/Cable TV

Hey,

You one of the biggest things that bugs me is the price of broadband and cable tv. Im not totally sure the logic behind the pricing on cable phone and internet packages but its not even practical. I just saw an add for qwest on my yahoo page for 97.95 a month for high peed and local and long distance phone. Im not for sure but i bet you its the introductory price and it'll go up in 6 months. The sad part is people actually fall for that crap........Because there pitch is "Have all your bills on one package" They say your saving money but your really not. Why would you pay 45 dollars a month for broadband phone when you can go to vonage and do it for 24? and get auto withdraw? I have auto withdraw for all of my bills. So all i need to do is deposit and then go on with my life...

And Broadband internet and cable TV......Good lord that is a total mess.....My broadband started at 25 dollars a month now its 55 dollars a month.....That is rediculous!! You can thank Charter communications for that deal. I've never lost connection through them but raising the price 35 dollars is a little extreme!!!...But i think the days of gouging the public through cable internet is almost over.....Because a company like vonage will come out offering a huge discount on cable internet....Because of the demand........Think about it if you have 30 million people paying 15 or 25 dollars a month for cable vs 5 million paying 50 dollars....Your gonna make more money in the long run......

Im not gonna go on about cable tv i think that is just stupid.....60 dollars a month for 65 channels? what the hell man!! Satellite you can get 150 channels for 20 bucks a month.......That is clear proof that cable companies are gouging us.....but the US government is planning on regulating prices of cable....The only reason there doing that is because the companies are gouging....The plan that they impose is going to hurt the whole enternment industry.....All because the cable companies want to make as much profit as possible.......There gonna end up screwing themselves over in the end......The only logical solution would be to de-regulate the industry and allow all the comnpanies free rain too all cities in there area......its called competition and it'll bring the price way down!!!!......Haven't you noticed all companies charge the same price?......thats because they can cause there the only company in the area....

-S

Money and Happyness

Well, I Sat down with family at our weekly get together this weekend and they started talking about money......What they don't know is im a blogger......and I totally didn't agree with there philosophy on life and money.......

They were saying that money does not bring happiness it only brings bad things...Spend your money today and don't worry about tomorrow because your living today......Let me remind you that all of them are in financial distress...All of them complain about how hard life is and its only going to get harder.....

What a bunch of sappy whiners....I’m so tired of listening to them complain about how hard life is, when in fact 95% of there distress is caused by them spending what they can't afford...I mean come on its only going to get harder because there going to keep spending there money on things they can't afford......Damn!!!

The fact is that the people who save for tomorrow and spend for tomorrow are always going to come out ahead.......its a fact!!!!......But the people who come out ahead are the reason these people are poor.....(stay tuned I’ll write about that later)

99% of the time I keep my mouth shut.....But if I ever have my thoughts in line when they start talking like that again im going to go Dave Ramsey on there ass....Cause that is just ridiculous!!!!

I’m not saying money brings happiness.....I’m saying correct money management brings happiness....Because look at the divorce rate....why people are getting divorced.....Look at why people are committing suicide......95% of it is because of money........And we have people like this ignoring what there problem is.....

-S

Funny article

Ok, I am sitting here reading up on some net articles and found a really funny one.....its at bankrate.com......This lady explains why you need credit........Its basically a BS article.......But the part that I laughed at really just got me good.... here it is " some very wealthy individuals are also living without credit. "The very wealthy often don't have credit," says Linda Sherry, spokeswoman for Consumer Action (consumer-action.org), a D.C.-based advocacy group. "They have no need for it -- they pay for things with their checkbooks." She's explaining who don't have credit...Children retirees and immigrants.....The reason why thoughs people are rich......is because they don't pay other people money.....They don't spend like an idiot......and don’t use credit...THATS WHY THERE RICH!!!..........

Now I have had credit checks done on me for a job but most employers don't do credit checks.....Jobs for law enforcement public office and creditors do have credit checks as a pre employment qualification.....Not having a credit shouldn't effect you in getting a job because smart people don't pay other people money!!!!......as far as an apartment goes......that’s not true for most apartments....I have never had my credit checked for a lease.......All insurance companies don't do credit checks....most smaller ones do.....but national companies don't as far as I know... I have allstate.......I do know for a fact you don't need credit to get a mortgage.....But I don’t' recommend any type of loan..........

And if they do charge you more on insurance because of your credit......it will go down after 6 months because you've shown them your responsible........Even though you know you are because you don't use credit......

Peace!

Saving Money

Hi,

I had a nice talk with somebody today that really is not right.....This person never plans for anything.....When she goes somewhere she's never been she don't get directions then drives around for an hour or more trying to find it. Then she starts saying oh my god im stressing!!!..........She said she can't do it anymore because of the stress......When in fact 95% of her stress is caused by her own stupidity....Then she mentioned one of her friends who makes 13 dollars an hour drives a Caddy CTS and lives in a 1 bedroom apartment for $1500 a month.....I was shocked at how some people are so ignorant and stupid...I said Why? people need to save there money and invest....then she said why? so you can die and give other people your money? haha.....what the hell man!!!.....Its almost like she don't know what her life’s biggest problem is.........She calls it life...........I guess these two people go into the Gave up in life category eh?

Listen if you fail to plan.....You plan to fail....and if you spend your money you fail......its not life............If you plan you succeed if you save and invest you succeed....its common sense...........ITS HOW LIFE WORKS!!!

How life works

Ok,


These are two really quick posts

The reality is you don't need credit cards to live......Don't post comments saying you can't because you can....or you can't afford life without credit cards...Because the reason you can't afford anything is the credit cards....and if you even post that you don't make enough so you can't buy anything cool, that’s why you have a credit card...I will slap you.........If you can't afford it don't buy it....GEESH!! is that a hard concept to figure out????? man on man!!

did you know if you save 1000 a month for ten years you'll have $100,000 in savings? that would be nice on a house huh? oh but you want it now. So lets go out and get a 30 year mortgage for 600 bucks a month.....Did you know if you replace that mortgage and put that amount into a mutual fund you'll have more then a million in 30 years? So what sounds better? a paid off house or a million dollars?

The basic fact is if your living expense are no more then 40& of your income you will have money to save and spend...and its a lot cheaper to use cash then credit..

-S

How life doesn't work

Hey


it amazes me how some people work..............................

People are relying on credit cards more then ever today....The average home is 8 thousand dollars in debt ($8,000). i've seen people as high as 500 thousand.........This really pushes my button..........

I recently have ran into alot of people who say i don't understand how life really works.....That you need credit to survive in the 21st century..........

All of thoughs people have the thank god its friday, oh god its monday mindset...Buy now worry later well its more like (credit now worry later) did i mention the majority of the us is 8 grand in debt? i did......ok........

Im so sick and tired of broke people giving me financial advice..............

Here are the signs of a person who has given up

They claim a car loan is a way of life
They claim you can't live without credit
debt is a way of life
You will never save
The Government will help....i will get Social Security