Do something different

“A day will never be more than you make of it.” By Josh Hinds “If your day consists of doing the same things you did yesterday, last month, and last year financially, and you are no farther ahead than you were then, do something different.” JC

Congratulations to one of our readers. She made a bold move recently and started her own small business. She did something different, and if she follows the tax codes she may save between $3000 and 10,000 in taxes this year alone.

Do something different and prepare your own “net worth statement.” According CNN/Money, “It’s hard to figure out how to get somewhere if you don’t know where you are.” Regardless of whether financial net worth is negative or in the positive, it is where you need to start build from that point on. Net worth means that have calculate all of your expenses (liabilities), and subtract those dollar amounts from your assets (things of value including savings, retirement, houses and car values, etc. The sum is your newt worth or owner’s equity. Although, unless you need to for insurance purposes, you shouldn’t include jewels and furs.

The average net worth by age is about $900 for 25 year olds and under; $15,000 for 25 to 34 year olds; $95,250 for 35 to 44 year olds; and $163,334 for 45 to 54 year olds. (source: CNN/Money)

The average net worth by income is: Under $25K (x 1000) is $12,500; $25K-$49,999 is $75,000; and $50K-$74,999 is $168,450.

“People fail because they don’t start, and they don’t start because they’re afraid to fail.”

Kids at mall on black Friday 2009>>

A coworker got me a book for Christmas, entitled “The Most Important Thing I Know,” a compilation of handwritten quick quotes written by such notables as Colin Powell, Stephen Covey, Laura Schessinger, Magic Johnson, and many more.

Martina Navratilola, a tennis star wrote that Katharine Hepburn once told her, “It’s not what you do in life, it’s what you finish!” Ms. Navratilova continues writing, “But many people don’t even start, because they are afraid of failure.” To me she says, “The only failure is when you don’t even try. So set your path, be brave, do your best and smile, because you are doing all of the above.”

Well what do you know. Even Ms. Navratilova recognizes what I’ve heard, read and written over and over and over again. People fail because they don’t start, and they don’t start because they’re afraid to fail.

Spend More Time Searching for Scholarships

Spend as much time searching for scholarships that match your profile, as you would working a part time job! The returns could make your parents' salary look insignificant. Trying to get this concept through to college bound students is like get a square peg through a round hole. Still we must try and get them to understand. Anything is better than graduating with student loans. Be aware that there are many scholarship scams.

CNN - Acai Berry - These berries are among the most nutritious foods of the Amazon, rich in B vitamines, minerals, fiber, protein, omaga-3 fatty acids, and omaga 9 a beneficial fatty acid.

Try a SallieMae scholarship search and the parent and college child might ultimately be better off after graduating with less debt. Still, there might be a need for some short term cash, while at the same time building credit. Try Idol White

Rueters 10-24-09 Obama presses banks on small business loans. "Insufficient capital for Insufficient capital for small businesses is weighing on the U.S. recovery from the worst recession since the Great Depression is weighing on the U.S. recovery from the worst recession since the Great Depression small businesses."

More of what you need to grow your business. With an unsecured line of credit you can do more with your business. More working capital, and more product and more equipment.

Unlike typical business loans, it’s not necessary to prepare a business plan detailing how you intend to use the funds once you get your unsecured business line of credit.

The perfect alternative to a checking account! Build your credit score, no credit, no overdraft fees, no bounced checks.