Home

  • You Can’t Buy Good Health

    You Can’t Buy Good Health

    Good health isn’t something you can buy, but it’s a valuable savings account.

    You may or may not have been health conscious during your college years, but as you age, taking care of your health gets more important. Because if you don’t have your health, who cares how much money you have! you don’t have much. This chapter covers some basics on how to achieve and maintain good overall health, both mental and physical, and how to start habits now that will ensure your future years are as healthy as possible.

    The wealth and health connection

    As an American, we are highly susceptible to living an unhealthy lifestyle. In my own life, I have worked hard to chase my dream, and I’ve discovered that it pays to be healthy., which happens when you live a healthy lifestyle. But according to the United Nations’ International Labor Office, unhealthy lifestyle choices cost U.S. businesses in upwards of $12 billion annually. 12 billion dollars!

    With that figure in mind, a mere $50/month on a gym membership for yourself or your employees is probably worth it. Sadly, too many Americans don’t consider their health a worthy investment, but research shows that 23% of adults that are obese earn $35k or less each year, whereas only 5.6% of Americans who are obese earn over $100,000/year $100k+. Why do you think CEOs and high performing professionals wake up really early to get in a morning workout? Because it makes them perform better in all aspects of life!

    Every January, many people resolve to lose weight or save money. And funny enough, those two goals are actually linked.

    Tips for staying healthy throughout your life

    From proper food choices to some kind of daily physical activity, it’s easy to stay healthy if you follow a few general tips.

    1. Exercise daily.

    You need an exercise routine that you can stick to. Studies have shown that regular exercise can substantially decrease your chances of heart disease, which means more money that you will save in your lifetime! Various studies have also shown that those who exercise save over $2,000/year! So, not only does working out help you save and earn more money, but it makes you healthier in many ways.

    Why is it important? Well…

    First, it releases endorphins that increase your happiness. Happiness is linked to increased performance in the workplace because people enjoy doing business with people who are happy!

    And second, the happiness it creates positively affects your diet and life. This is in contrast to unhappy or depressed people who often tend to eat more junk food, which in turn increases cholesterol levels. In Just like similar way, excessive credit card debt can clog your personal finances, while good debt, like mortgage debt, can actually be beneficial (just like good cholesterol is beneficial to your body) because it allows you to invest in an appreciating asset since home prices have increased substantially over the past 30 years.

    To get started, set a goal to exercise two to three hours each week. It doesn’t have to be anything too intense. Just going for a daily walk or taking your significant other to a dance class is a positive move that will begin to improve your health and wealth.

    2. Don’t eat out so much.

    A big part of staying healthy is being aware of how much you go out to eat. Eating out often not only hurts your wallet, but the food choices you encounter tend not to be the healthiest either. We get it, you’re now making money now and you want to go out to eat, but if you go out to eat four or five times /month and that’s easy $100 to $200 you’re spending, plus all the calories and salt and fats.

    3. Limit your alcohol consumption.

    If you went to college, you probably partied and drank a bit. Or a lot. Even though you were acting a fool, you were still surrounded by people on the same level as you as far as IQ and education, etc., but when you leave school and hit the real world, you’ll soon be surrounded by people of all shapes, colors, and backgrounds, and you soon realize that you’re no longer in the same, homogenous environment. If you go drinking and partying, you’ll meet a new crowd, many of whom aren’t going to the same place you are. And now that you’re in the real world, you now have to get up and go to work every day, unlike at school when you could often sleep in and get away with it. But now, when you burn the candle at both ends, your work performance starts to suffer and others notice. My point is this: it’s okay to have the occasional drink but try to limit your alcohol to five or fewer drinks a week. Except on special occasions .

    While it’s normal to go out now and then with friends, like on happy hour on Fridays, etc., you have to let college life go and look in the mirror and ask yourself if you’re ready to keep doing this the rest of your life. In the 1993 movie Dazed and Confused, Matthew McConaughey plays a character named Dave Wooderson, who is still hanging out with high school students, trying to live the life of a young person even though he has long since aged out of it.

    For your health, life and maturity, don’t be like Dave but make sure you grow past all this. You need to ask yourself if you want to go and have drinks at the local bar or save your money and go someday travel to Italy or Europe. Because if you keep spending your money on partying, you probably won’t be able to invest in the kind of fun, mind-expanding experiences that actually make you happier.

    Your Guide,

    Joshua Krafchick, “Unconventional Money Guy”

  • What You Don’t Know About Cryptocurrency, but Should

    What You Don’t Know About Cryptocurrency, but Should

    Cryptocurrency is the craze that’s consuming a wide array of new investors. Between Elon Musk tweeting about Dogecoin to most recently Miami, FL is looking to become the new crypto hotspot. It’s apparent that cryptocurrency has taken over the global stage and for the immediate future isn’t slowing down in popularity. So, the question remains the same,

     

    “Is Cryptocurrency here to stay for the long haul?”

     

     

    Let’s take a look at 5 things you didn’t know about cryptocurrency.

    1.    North Korea Has Stolen Billions of Dollars of Cryptocurrency.

    Throughout North Korea’s current regime, they have made a killing through criminal activity such as drug trafficking and cybercrime.  Cryptocurrency is no different. As recently as 2019, North Korea has stolen in upwards of $600 Million worth of Bitcoins. These sorts of activities account for at least 15% of North Korea’s total income.

    2.    The IRS is Still Learning About Cryptocurrency.

    The United States currently recognizes cryptocurrency as personal property for tax purposes. In the last few weeks, I’ve even heard someone say they were going to file an insurance claim for their “Lost Bitcoins” through their homeowner’s insurance to reconcile their losses.

    Crazy stories like this on top of how much you may have to pay in taxes is going to drive whether or not The United States allows Cryptocurrency to remain mainstream.

    For Example,

    You walk into a grocery store and your cryptocurrency is worth $1.00 and by the time you pay for your groceries, the cryptocurrency is worth $1.50. Not only are you paying sales tax on the goods you just bought, but you will have to pay taxes on the gain you made while walking through the grocery store.

    3.    Bitcoin is a Limited Resource.

    Just like oil and diamonds, Bitcoin is a limited asset. That means the price is going to be driven by the simple effects of supply and demand. Right now, demand is high and supply has a fixed value. However, what you need to know is that supply is going down in value because many people have lost access to their digital wallets.

    There was a story about an entrepreneur named Gabriel Abed, who had 800 Bitcoins worth about $25 Million. And he lost the password to his wallet. And lost all of the value of Bitcoins. This occurred when a colleague apparently reformatted his laptop, thus barring Abed from gaining access to his fortune.

    So, the $25 Million question is this,

    “Does the money that you don’t have access to, have any value?”

    4.    There Are Over 5000 Coins.

    In the early 2000s, there were over 8,000 commercial banks. Now there are less than 5,000. If cryptocurrency remains mainstream, you have to ask yourself,

    “What coins are here to stay? And which coins are going to become extinct?”

    That within itself is the Trillion-dollar question. From what I’ve read, Mark Cuban has been reported saying the coin he believes most in is Ethereum. After Bitcoin, it is the second-largest cryptocurrency by market capitalization. Holding over $300 Billion.

    Where a smart investor would look is into which coin has the blockchain technology that will be desirable in order to help decrease the number of financial crimes. This within itself has the opportunity to save financial institutions. British Banks alone spend $5 Billion per year fighting financial crimes.

     

    5.    Lack of Value.

    Grant Cardone has been recorded saying that purchasing a primary residence is a dumb investment because you have to pay the bank the house doesn’t pay you. And an investment that doesn’t pay you is not a good investment. Cryptocurrency the only way to make a profit is to buy low and sell high. There are no dividend payments and basically, you’re at the mercy of the markets.

    Your Guide,

    Joshua Krafchick

  • 4 Skills To Teach Your Kids To Make Them Rich

    4 Skills To Teach Your Kids To Make Them Rich

    Most parents would love for their kids to be rich. Well, at least wealthier than them. That’s the beauty of life, humans innately want their offspring to do better. As technology continues to improve, there are certain skills that are a giant separator between becoming a success and being a leader in your field.

    Obviously, the education system is an outdated system that teaches kids subjects that are important, but like any system, it has its flaws! So, it’s vital to your children’s future that they pick up a few skills outside of the classroom!

    Here are a few of the skills that will make your kids rich:

    1. Typing.

    Phones have killed this skill because texting is only completed with your thumbs. Being able to type effectively and layout original thoughts is a gamechanger. In this day of age in order to build a reputation to become a leader in the world, your kids MUST be able to share their message.

    Being able to type and leave a digital footprint through words, not videos, is one of the best ways that your kids can start building up their followings at a young age.

    Most people are using video blogs rather than just typing out their ideas into a written one. Although, writing a blog is now deemed “Old School” in order to be dynamic you have to be able to do it all!

    2. Public Speaking.

    Whether we’re on planet earth or the metaverse public speaking will ALWAYS be a high value activity. Think about it like this. Do you prefer to see your favorite music artist on YouTube or at a live concert?

    People will continue to pay BIG money to hear people perform, speak, and present on a stage! So, you got to get your kids comfortable being in front of a large group of people.

    Being a presenter is no different from being an entertainer. IF you’re able to confidently speak in front of a group of people, you will find your kids in a league of their own.

    3. Graphic Design.

    Social media AIN’T going anywhere! It’s here to stay, the platforms may change names and adapt over time. But, this isn’t going to change the way people consume information. IF your kids are able to design captivating content via graphic design, they will never be finding themselves on the short side of the stick.

    Companies are hiring more MFA (Master Fine Art) students than MBA (Master Business Administration) students because of their creativity. The creative people are the ones who are going to be ruling the world, not the skeptics and analytics thinkers.

    4. Communications.

    English is one of the hardest languages to learn because of all the different meanings. For example,

    “You’re going to take a right turn right up here on the left.”

    Even if English is your native language, this is confusing, but you see my point? Your kids will definitely have to learn how to communicate clearly with different people.

    Analytical people communicate in a certain way compared to people who are more creative. If your children are able to learn how to speak different people’s languages, they will have more people in their lives. And the more people they have in their lives, the further they will be able to go!

    Your Guide,

  • Money Saving Tips for The Holidays

    Money Saving Tips for The Holidays

    With the average consumer spending a little over $900 during the holidays in 2021, how will the inflation we see impact consumers in 2022? Well, with inflation being the hot financial topic this year, your $900 last year will only be able to buy you about $810 worth of gifts. So, if you’re on a budget, there are many unconventional ways you can buy your family the presents they deserve without breaking the bank!

    Here are 3 easy to follow tips that will help you make the most out of your holiday spending!

    1.    Facebook Marketplace.

    Recently, I was looking to invest in a new computer monitor and said,

    “Let me check out Facebook Marketplace.”

    Well, I found a monitor that is about $250 new, for $50. Kids aren’t going to know the difference between whether something that is lightly used versus new. AND your dollar will go further by going in a direction most people aren’t considering.

    This will directly undercut the rise in prices we’ve seen because you’re going to be buying everything at a discount that is much greater than what we’ve seen compared to inflation this past year. Basically, it’s black Friday 365 days a year on the Facebook Marketplace.

    2.    Give Yourself a Limit.

    With the “Buy Now” options and all of the easy ways it is for companies to charge you nowadays, it will be wise to give yourself a limit BEFORE you start buying gifts. The way I’d suggest doing that is literally going to the bank and pulling out the cash you’re willing to spend for the holidays.

    As you start to spend gifts use the cash as much as possible and that way you can literally track how you’re doing in terms of your spending. Psychologically it’s much easier for you to comprehend how much you’re spending when you see the cash leaving your pocket and becoming smaller and smaller.

    3.    Invest Into Your Family’s Future.

    Whether it’s a vacation or an interest, you can make purchases that will teach your children the skills they need to become successful in the future. For example, maybe your child wants to be a graphic designer, you can invest in #canva or #adobe so they can start learning how to use it. Or maybe your kid wants to be an architect? You can buy Legos and complete that as a family.

    Buying the latest and greatest toys will eventually not be popular. Like anything, your children will move on to something else that piques their interest. By investing in something that is interactive, you can purchase a yearly subscription or just go month to month. That way if your kids find out they don’t like something, you can just cancel the subscription at any time. This is much easier than having to go back to the store and return a gift.

    Your Guide,

    Joshua Krafchick, “Unconventional Money Guy”

    Co-Founder of 369 Financial

  • Money Saving Tips for the Holidays

    Money Saving Tips for the Holidays

    With the average consumer spending a little over $900 during the holidays in 2021, how will the inflation we see impact consumers in 2022? Well, with inflation being the hot financial topic this year, your $900 last year will only be able to buy you about $810 worth of gifts. So, if you’re on a budget, there are many unconventional ways you can buy your family the presents they deserve without breaking the bank!

    Here are 3 easy to follow tips that will help you make the most out of your holiday spending!

    1.    Facebook Marketplace.

    Recently, I was looking to invest in a new computer monitor and said,

    “Let me check out Facebook Marketplace.”

    Well, I found a monitor that is about $250 new, for $50. Kids aren’t going to know the difference between whether something that is lightly used versus new. AND your dollar will go further by going in a direction most people aren’t considering.

    This will directly undercut the rise in prices we’ve seen because you’re going to be buying everything at a discount that is much greater than what we’ve seen compared to inflation this past year. Basically, it’s black Friday 365 days a year on the Facebook Marketplace.

    2.    Give Yourself a Limit.

    With the “Buy Now” options and all of the easy ways it is for companies to charge you nowadays, it will be wise to give yourself a limit BEFORE you start buying gifts. The way I’d suggest doing that is literally going to the bank and pulling out the cash you’re willing to spend for the holidays.

    As you start to spend gifts use the cash as much as possible and that way you can literally track how you’re doing in terms of your spending. Psychologically it’s much easier for you to comprehend how much you’re spending when you see the cash leaving your pocket and becoming smaller and smaller.

    3.    Invest Into Your Family’s Future.

    Whether it’s a vacation or an interest, you can make purchases that will teach your children the skills they need to become successful in the future. For example, maybe your child wants to be a graphic designer, you can invest in #canva or #adobe so they can start learning how to use it. Or maybe your kid wants to be an architect? You can buy Legos and complete that as a family.

    Buying the latest and greatest toys will eventually not be popular. Like anything, your children will move on to something else that piques their interest. By investing in something that is interactive, you can purchase a yearly subscription or just go month to month. That way if your kids find out they don’t like something, you can just cancel the subscription at any time. This is much easier than having to go back to the store and return a gift.

    Your Guide,

    Joshua Krafchick, “Unconventional Money Guy”

  • Do You Pay off Your Mortgage or Invest?

    Do You Pay off Your Mortgage or Invest?

    Most people that purchase real estate will not pay off their mortgage! Whether you do a 15-year or 30-year mortgage, the average American only owns their home for about 13 years. The whole purpose of borrowing money is to leverage yourself so that you can buy an asset that you don’t have the cash for. Even with interest rates going much higher in 2022, they are still considerably lower than in the 1980s and even the  1990s

    Here are my thoughts on common questions people ask when it comes to their mortgage & paying off debts.

    Should prospective investors pay off their mortgage before they start investing into more real estate?

    As long as you have the cash-flow to be able to afford purchasing more real estate, carrying debt is not going to hurt your financial situation. Especially if you’re investing into real estate such as Multi-Family Properties, AirBNB Rentals, and long-term rentals, carrying debt gives you many advantages.

    The main advantage is when real estate isn’t for personal use, the debt that you have can be used to offset the income that your asset is giving you. The interest that you pay the bank, your property taxes, lawncare, making repairs, and anything that is used to maintain the asset will be deducted on your taxes.

    That’s why with Grant Cardone’s popularity skyrocketing many investors are turning to real estate. You can literally have $1 Billion in cash-flow and if your deductions offset that income, you can pay $0 in taxes.

    Is there any debt that’s not acceptable to have when starting out investing? If so, what?

    There isn’t any kind of debt that should deter you from starting to invest other than anything that has an interest rate higher than 12%. Why 12%? Well, the average return of the S&P 500, is about 12% since inception so if you’re paying an interest rate that is higher than what you can make your money grow, you need to make that a priority before investing.

    Otherwise, if you don’t get your debt under control, you’ll start to build a false sense of wealth. You may be seeing your assets grow, but at the same time, you’re going to be paying an equal if not higher amount of interest, which is canceling out your investment returns.

    Whenever I have a loan, I usually take out more than what I need. That way, the extra gives me a cushion to start aggressively paying more than the minimum payment and that allows me to take a loan that has an interest rate of say 5% and bring it down to 1% or less.

    Just because a loan is 5% doesn’t you’ll pay 5% interest. If you get ahead on your payments, you can manipulate your loan so that you’re paying much less interest over time.


    What arguments can be made for not paying off the mortgage?

    The secret to building wealth is “leverage.” All great investors and successful companies use it to help them grow as fast as possible. If you want to buy a piece of real estate for $300,000 and use all of your cash to pay off the mortgage, you’re essentially closing off any other opportunities that may come your way over your lifetime.

    Now, if you do pay off your mortgage, you can always do a cash-out refinance to gain access to extra funds in case you need them. However, for most people, especially in America, their home is their largest asset. What needs to happen to build more wealth over time is to ensure you’re placing your cash into assets that will grow at a reasonable rate of return over time. Otherwise, inflation will slowly eat away at your purchasing power and you’ll turn into the person later in life who complains about the price of everything in the world.

    Your Guide,

    Joshua Krafchick, “Unconventional Money Guy”

  • Why are big companies making big profits?

    Why are big companies making big profits?

     

    Big companies made record-breaking profits in 2021, yet 2022 has been a rocky year for the stock market purely because the Federal Reserve waited too long to start raising interest rates which caused inflation to occur. When they printed money during the COVID-19 pandemic, the increase in the money supply is direct correlation to this inflationary environment.

    Now, the Fed raised interest rates in hopes of bringing inflation down AND slowing down the economy, which has brought further fears of a looming recession, we were in a recession in 2022 already because of 2 quarters of negative GDP. 

    Tech Companies are making big profits because many of them years ago changed their business model from customers owning their software to renting it from these larger institutions. 

    People are even financing cell phones, which is deducted from their monthly bill and allows people who have little in their bank accounts to afford the latest and greatest iPhone which is around $800 to zero dollars down, and pay $50/month on their cell phone bill.

    Also, Apple has notoriously changed their charging ports, plugs, and everything else that forces their customers to constantly upgrade or buy “accessories” which is SUPER Smart. 

    In times when consumers are worried about spending, these large organizations have taken the Planet Fitness gym model. Make the monthly payment just small enough so that people don’t worry about it or forget that their even paying it! 

    All in all, the only thing consumers can really do about it is to stop paying for these services altogether, because technology plays a vital role in everyone’s everyday life, this will not happen and these companies will continue to profit! 

    Now, if you think like an investor, people who use these companies can invest in their company stock if they are publicly traded and take advantage of the growth of these companies over the long run. Rather than buying the newest shoes, take that money and invest in something that can pay you dividends in the future.

    Then you’re using the company’s profits they pay you in dividends and you can essentially buy their products using other people’s money.

    Your Guide,

    Joshua Krafchick, “Unconventional Money Guy”

     

  • What to Know before you Switch to 1099

    What to Know before you Switch to 1099

    Many people have a dream of becoming an entrepreneur or business owner and changing over to a 1099 tax schedule. Leaving corporate America behind gives people a new excitement, freedom, and a sense that they are building something bigger than themselves. Despite many people having this dream, less than 10% of the workforce actually takes this leap of faith.

    Since important skills aren’t taught in school, this leaves people to either learn on their own accord or find the right experts to guide them to success. Before you leave your W-2 job as an employee, there are countless items to consider. I’ve been out of corporate America since 2017 and decided to break down the top 5 areas that are going to help you make your decision to either stay W-2 or go 1099.

    1. Lock in a House.

     

    If it’s important to you to own a home. Being able to attain a mortgage is much easier as a W-2 employee rather than a 1099 worker. This is because when you’re a W-2 worker, mortgage companies look at what your total income is from your employer. Even if you make $1 million/year and you’re spending all of your income, they don’t care.

    On the flip side, if you’re a 1099 worker making $1 million/year and after your expenses, you’re showing you make no income. The mortgage companies are going to view that as you make no money. Even if you have ample cash flow, unfortunately, as a 1099 contractor, they will look at your bottom line, not your top line.

    So, if you have a family or always dreamed of owning a home, the process will be much easier if you do it as a W-2 rather than waiting until after you’ve gone 1099.

    2. Get Your Credit Right.

    As a 1099 contractor, your income is not guaranteed. You’re going to have to work in order to generate revenues for your business. You can’t just show up to work whether you’re feeling your best or your worst and every few weeks your paycheck hits your bank account. This is what stops most people from taking a leap of faith and which is why as you’re still an employee, you need to get your credit right.

    As an employee, your income is predictable, and it’s up to you to make the right decisions when it comes to your spending habits. One of those habits, is ensuring that you pay your debts (student loans, car notes, mortgage, etc.) on time every single month!

    Also, as you start to build more wealth you want to increase your credit lines as much as possible. For example, before leaving corporate America, I had at least 2 credit cards with a $30,000 credit limit with a credit score of over 800.

    Setting the foundation before taking a risk of venturing away from the conventional W-2 environment, will make it much easier when you hit bumps in the road as a 1099 contractor.

    3. Save Up as Much Cash as Possible.

    Everyone has their own opinions on how much cash you should save. Some recommend 3-6 months, some recommend a year’s salary. If you’re about to switch gears from a normal job, you want to make sure you have as much cash as you feel is necessary in order to ensure you will be successful.

    That may be 6 months of bills. Or even 1 year or more! It all depends on your lifestyle and what you’re willing to sacrifice. If you’ve done a good job of saving in your 401k through work. You can always set up what’s called a solo 401k through your new business and take a loan against the balance.

    This gives you as many tools that you need in order to ensure your new business survives and doesn’t become a business that falls into the statistic that most small businesses fail within the first 5 years of their inception.

    4. Get Credit Lines.

    Home equity lines of credits, cash credit lines, credit lines, get as many as humanly possible before you leave your job. This will provide you with different strategies to tap into not if, but when you encounter challenges. The goal as an entrepreneur is to keep the momentum moving forward. If you hit a rough spot where you don’t close any new deals for a month or two, you do NOT want to be freaking out.

    You want to be able to know that you have set a bulletproof financial strategy in place so that when problems occur, you will not be rattled! When you’re back is against the wall, you do not want it to impact your psyche because that will negatively affect the results of your business.

    5. Know What You’re Getting Into.

    Moving from a conventional W-2 job into a 1099 environment is one of the most rewarding and frustrating decisions you will ever make in your life. Becoming a 1099 contractor is going to take a lot of hard work, dedication, and sacrifice. Yet, when you find yourself in the winner’s circle, it can be a decision that changes your life forever.

    So, if you have a dream of having freedom and building something that will give you everything you want out of life, then I’d highly suggest you consider moving to 1099. Or, if you’re not sure, just start small while you’re still getting that income from your current job and see what blossoms over time.

    Your Guide,

    Joshua Krafchick, “Unconventional Money Guy”

  • $20 a Day Can Change Your Life

    $20 a Day Can Change Your Life

     

    Making $20 extra every day can change your life!

    There’s a huge debate that is going on in regards to the best ways to improve your life via building wealth.

    • Do you focus on saving?
    • Do you focus on increasing your income?
    • Perhaps both?

     

    There is no right or wrong choice, yet when it comes down to what YOU want out of your life, you definitely need to make the correct decision.

    When it comes to cutting expenses to save money. You can only reduce it so much.

    Yes, you can cut the cord for cable!

    Yes, you can stop eating out!

    Yet, if your income isn’t where you’d like it to be then this is a short-term solution for a long-term problem. And that’s what building wealth is all about, focusing on the future in the present.

    So, this puts you into a quagmire. You can only ask for a raise from a job so often and you can only decrease your expenses so much. This is where focusing on just $20 a day can change your life.

    If you make an extra $20/day that’s $7,300 a year. Not chump change.

    Most people want the quick hit to build wealth fast, but life doesn’t work that way most of the time.

    Very few people win the lottery and with Americans spending over $200/year on lotto tickets, they have the wrong mindset. A mindset of

    “Please let me win the lottery so all my troubles will disappear!”

    If you can change your mindset from dreaming into small actions to start accumulating just $20/day, that will allow you to slowly move to the next level. Something simple. Driving Uber on your way to the office can help you achieve this goal and as long as your car qualifies, it’s super easy!

    Or even if you’re just running errands or driving around town, $5 here and $10 there compounds. Then once you can consistently obtain $20/day, up the ante to $30, then $40, you get the idea.

    Perhaps this is a business idea or a side hustle. Eventually, you may be able to even quit your day job! Who knows?

    Kaizen is a Japanese term that means, “Change for the Better” or “Continuous Improvement.” By putting your energy into small powerful actions, you will then create a potential income stream that can drastically change the outcome of your life.

    It seems stupid. $20/day doesn’t seem like it would go far. But you start making an extra $20 every day. That’s when the real magic begins!

    Because you have to take the magic of compounding into play.

    Compounding works either in a positive or negative manner. You stop going to the gym, that’s a negative. You can’t make the gym, but go for a 15 minute walk, that’s a positive. The key to anything is NOT to allow yourself to do nothing! Anything, is better than zero.

    Ultimately, the choice is yours and yours alone. Do you want to live a frugal life? Or a life of significance?

    There is no right decision. You just need to look at yourself in the mirror and ask yourself,

    “What do I want out of my life?”

    Figure that out and you’ll transform into a superhero where no virus, no negativity, nothing will stand in the way between where you are and where you’re going. Once you accept that real wealth is built $20 at a time, you will find yourself living the life that other people are envious of!

    So, stop now! Get out there and make that $20/day, you in 5 years from now will thank you!

    Your Guide,

    Joshua Krafchick, “Unconventional Money Guy”

    Additional Posts About Money:

    1. Does Marriage Affect Your Money?
    2. What to Sell When You Need Money?
    3. Which Money Mistakes are Costing You?

     

  • You Can’t Buy Good Health

    You Can’t Buy Good Health

    Good health isn’t something you can buy, but it’s a valuable savings account.

    You may or may not have been health conscious during your college years, but as you age, taking care of your health gets more important. Because if you don’t have your health, who cares how much money you have! you don’t have much. This chapter covers some basics on how to achieve and maintain good overall health, both mental and physical, and how to start habits now that will ensure your future years are as healthy as possible.

    The wealth and health connection

    As an American, we are highly susceptible to living an unhealthy lifestyle. In my own life, I have worked hard to chase my dream, and I’ve discovered that it pays to be healthy., which happens when you live a healthy lifestyle. But according to the United Nations’ International Labor Office, unhealthy lifestyle choices cost U.S. businesses in upwards of $12 billion annually. 12 billion dollars!

    With that figure in mind, a mere $50/month on a gym membership for yourself or your employees is probably worth it. Sadly, too many Americans don’t consider their health a worthy investment, but research shows that 23% of adults that are obese earn $35k or less each year, whereas only 5.6% of Americans who are obese earn over $100,000/year $100k+. Why do you think CEOs and high performing professionals wake up really early to get in a morning workout? Because it makes them perform better in all aspects of life!

    Every January, many people resolve to lose weight or save money. And funny enough, those two goals are actually linked. 

    Tips for staying healthy throughout your life

    From proper food choices to some kind of daily physical activity, it’s easy to stay healthy if you follow a few general tips. 

    1. Exercise daily.

    You need an exercise routine that you can stick to. Studies have shown that regular exercise can substantially decrease your chances of heart disease, which means more money that you will save in your lifetime! Various studies have also shown that those who exercise save over $2,000/year! So, not only does working out help you save and earn more money, but it makes you healthier in many ways.

    Why is it important? Well…

    First, it releases endorphins that increase your happiness. Happiness is linked to increased performance in the workplace because people enjoy doing business with people who are happy! 

    And second, the happiness it creates positively affects your diet and life. This is in contrast to unhappy or depressed people who often tend to eat more junk food, which in turn increases cholesterol levels. In Just like similar way, excessive credit card debt can clog your personal finances, while good debt, like mortgage debt, can actually be beneficial (just like good cholesterol is beneficial to your body) because it allows you to invest in an appreciating asset since home prices have increased substantially over the past 30 years.

    To get started, set a goal to exercise two to three hours each week. It doesn’t have to be anything too intense. Just going for a daily walk or taking your significant other to a dance class is a positive move that will begin to improve your health and wealth.

    2. Don’t eat out so much.

    A big part of staying healthy is being aware of how much you go out to eat. Eating out often not only hurts your wallet, but the food choices you encounter tend not to be the healthiest either. We get it, you’re now making money now and you want to go out to eat, but if you go out to eat four or five times /month and that’s easy $100 to $200 you’re spending, plus all the calories and salt and fats.

    3. Limit your alcohol consumption.

    If you went to college, you probably partied and drank a bit. Or a lot. Even though you were acting a fool, you were still surrounded by people on the same level as you as far as IQ and education, etc., but when you leave school and hit the real world, you’ll soon be surrounded by people of all shapes, colors, and backgrounds, and you soon realize that you’re no longer in the same, homogenous environment. If you go drinking and partying, you’ll meet a new crowd, many of whom aren’t going to the same place you are. And now that you’re in the real world, you now have to get up and go to work every day, unlike at school when you could often sleep in and get away with it. But now, when you burn the candle at both ends, your work performance starts to suffer and others notice. My point is this: it’s okay to have the occasional drink but try to limit your alcohol to five or fewer drinks a week. Except on special occasions .

    While it’s normal to go out now and then with friends, like on happy hour on Fridays, etc., you have to let college life go and look in the mirror and ask yourself if you’re ready to keep doing this the rest of your life. In the 1993 movie Dazed and Confused, Matthew McConaughey plays a character named Dave Wooderson, who is still hanging out with high school students, trying to live the life of a young person even though he has long since aged out of it.

    For your health, life and maturity, don’t be like Dave but make sure you grow past all this. You need to ask yourself if you want to go and have drinks at the local bar or save your money and go someday travel to Italy or Europe. Because if you keep spending your money on partying, you probably won’t be able to invest in the kind of fun, mind-expanding experiences that actually make you happier. 

    Your Guide,

    Joshua Krafchick, “Unconventional Money Guy”

    Additional Blogs about Improving Your Health:

    1. Sneaky Ways to Exercise at Home
    2. Health Insurance is Boring
    3. Start Meditating!

     

     

Request a
Free Consultation
Previous Next
Close
Test Caption
Test Description goes like this