Teaching you to embrace today while making yourself a millionaire!

I wish I would have understood how easy it is to become a millionaire by starting to save small amounts of money when I was younger...

I feel compelled to share the simple concepts you can apply today....


31 August 2010

Ways to Save on Your Car

You know the feeling…you've just gotten your car serviced, you've just filled up with gas, and you've just had the car cleaned… Does it feel like it runs better or is that in your imagination?

Whether real or imagined – car maintenance will keep your car running smoothly and save big money in the long run. Failure to get regular oil changes, filter changes, or scheduled maintenance could leave you stranded on the side of the road. This week, on Facebook, we're exploring ways to make our dollars go farther on our cars, but in no way are we advocating for you to ignore the needs of your car. Just be smarter about it…

  • Take a do-it-yourself workshop on how to change your cars oil and filter and enjoy a well-run machine at a fraction of the cost.
  • Pull out the old bucket and sponge and wash it yourself!
  • Don't take your car to the dealership for service, go to a reputable independent mechanic who knows cars and will do the work for less.
    • EXCEPTION: If you have a specialty car, such as a Hybrid or unusual foreign model – it's probably best to stick with the people who understand the unique quirks of your car type.
  • Make sure you're tires are good…worn tires slow down your car and actually cause you to burn more fuel.
  • Oh and speaking of tires, learn to change it yourself.


Stay tuned for more ways to save on your car's maintenance this week on Facebook! And be sure to suggest our page to your friends!

26 August 2010

College Student Discounts

Hey college students! Did you know you have special benefits and perks that can help you financially? You qualify for discounts on:

  • Computers
  • Software
  • Groceries
  • Travel
  • Entertainment
  • Clothes


Why do these retailers offer these discounts? Because they want to build loyalty from you now while you're young and keep you as a customer as you grow older… Do you have some particular retailer with whom you have established such a rapport that you will remain loyal to them even with or without a discount that may be available to you? As consumerism experiences grows – customer service will become a feature as important as a price point and retailers and business are depending on your future business as much as your current…


We've taken the liberty of sourcing a few online sources that can direct you to other places who will offer financial incentives for college students:


Three questions for you:

  • Do you take advantage of student discounts?
  • Do you have other sources for discounts?
  • If a student discount is not made apparent – do you ask about them?

24 August 2010

Financial Security


Generation Millionaire teaches a program that teaches how to make small changes in your life to reap big benefits. We want to show the up and coming generation how they can be millionaires! Careful planning and a little discipline are the key ingredients. This week, we're talking about financial security. What does it mean?

For some, financial security is the typical American dream: big house, fancy cars, exotic vacations, and expensive jewelry. For some, it's having money put aside to cover unexpected expenses. For others, it might be just having enough to cover the costs of monthly living. Today, we had a fan of our Facebook page today who said that for her, financial security was being able to hire someone to do her laundry.

Everyone's definition is different. But one thing is consistent: in order to achieve your personal definition of financial security, you have to be committed to making smart financial decisions. Using the pay-yourself-first philosophy, Generation Millionaire is committed to showing you the way to financial security…no matter what your personal definition of it may be.

19 August 2010

Money Trouble for Gen Y

Today, we are posting an article about problems Generation Y may face according to a recent Western Union survey.


Survey: Gen Y'ers face a big pile of money trouble
Investment Advisor - Aug. 16, 2010
Copyright 2010 Investment Advisor. A Summit Business Media publication.
All rights reserved

By Joyce Hanson

A financial storm may be brewing for the debt-laden, stressed young Americans who are part of the Generation Y demographic, according to a recent Western Union survey. Financial positions in the first half of 2010 deteriorated for one out of three of 87 million Americans age 18-34, the index shows. Nearly 30% of Gen Y'ers reported having difficulty in managing their spending, more than 20% waited longer to pay their bills, 35% borrowed money from friends or family members, and 50% reported feeling increased stress about financial obligations.

"Gen Y'ers are generally described as creative, independent, and tech savvy, while at the same time they are sometimes seen as overly confident and impatient. Many are also in trouble financially," says a Western Union news release for the latest Money Mindset Index.

Western Union has a good understanding of financial trouble. Now over 150 years old, the company went bankrupt in 1994 and survived by undergoing a corporate facelift that incorporates modern electronic tools such as global account transfers and prepaid credit cards. The company's consumer-to-consumer segment, representing 84% of overall revenue, offers money transfer services that are popular with immigrants as well as college students and their parents. As a result, Western Union has become something of an expert in the spending patterns of America's youth. The survey was conducted for Western Union in May 2010 by Javelin Research, which surveyed more than 3,000 consumers online about their current behaviors and emotional mindset regarding debt and personal finance issues.

One bright spot for Gen Y'ers is their use of technology to better manage their finances. "The silver lining is that, in spite of the difficult economy, Gen Y is
engaging in money-savvy behaviors that can help build a better financial future," said David Shapiro, Western Union senior vice president, in a statement. "The Money Mindset Index identified Gen Y's use of tools such as online bill pay to manage their budget and credit standing. Factor in their high comfort level with web-based programs and budgeting tools, and Gen Y has a solid foundation for getting their finances back on track."

The survey also found that 27% of Gen Y survey participants have been turned down for a loan or line of credit. Sixty percent have not seen their credit score in the past year, and 44% have never seen their credit score. Older Americans are experiencing less financial trouble, according to the survey.
"Gen Y's difficulties are in contrast to other survey respondents, many of whom are seeing positive changes in their financial situation, including less impact from economic challenges such as changes in credit card limits and increased interest rates, a declining need for spending cutbacks, and decreased shopping at discount retailers," according to the Western Union news release.

(c) 2009 Factiva, Inc. All rights reserved.


17 August 2010

Financial Wisdom of the Ages

This week on Facebook, we've posted a variety of money-saving quotes from famous voices in history. Why? Because history repeats itself. What we are going through economically is not a new situation. Our country and societies / cultures around the globe have gone through economic hardships and depressions. In recent years, we have come the closest to repeating the Great Depression and as a whole, our nation has buckled belts a bit tighter and started seriously looking at finances, ways to cut back, and ways to save for the future.


Many have embraced old habits of making clothing, planting gardens, and other do-it-yourself cost saving strategies employed by generations past. These are critical skills that we should embrace – economic hardships or not!


About a year ago, a colleague of ours interviewed a Great Depression survivor who, when asked if people in today's society could survive another Great Depression, shared, "I don't know because people today aren't as self-sufficient as we were back then." There's a lot of truth in that statement. Think of the things we spend money on instead of taking care of it ourselves:


Using what you know about American history – what are some of the things you pay for that are really a matter of convenience versus a need. Are there things you could do at home to be more self-sufficient AND save money? Please share your thoughts here or on our Facebook
page. We will be exploring some do-it-yourself ideas in Thursday's blog.

12 August 2010

Paying for College

Today's blog is a repost on paying for college… there's some great advice in here!


How to Pay for College

Wednesday, December 2nd, 2009

Although it may seem like after January 1st, all you have to do is sit back and wait for your acceptance letters, there's a long way to go before you move into your college dorm.

Applying to college is only the first step. If you hope to enter the hallowed halls of your first-choice, you need to find a way to pay for college, and fast.

Calm down, applying for financial aid is all about the basics: loans and scholarships.


Alright, here's is the catch: you might get some cash for your college education, but it won't be there for long, so you can't treat it as a windfall and go on a major shopping spree. That's the thing about loans-you have to actually pay them back.

So they are more like "temporarily free money." But that's still a huge help for the students relying on a loan as part of their financial aid package. In fact, college loans are the largest form of student aid, making up 54% of the total aid awarded each year.

There are basically two broad categories of loans: loans based on financial need and loans not based on financial need. Either way, you must fill out the FAFSA (Free Application for Federal Student Aid) as a first step. (By the way, these are long and complicated, and there are some cool companies like who can make this a breeze).

If your FAFSA application does demonstrate need, a need-based loan will be less expensive than a non-need loan (need-based loans usually have better payback terms). As mentioned above, to be eligible for any loan, you have to fill out the FAFSA first. Below are some of the different kinds of loans:

Need Based Loans

  • Subsidized Direct Loans
  • Subsidized Stafford FFEL Program Loan
  • Perkins Loan

Non-Need Based Loans

  • Subsidized Direct Loans
  • Subsidized Stafford FFEL Program Loan
  • Perkins Loan
  • Private Loans


The great thing about scholarships is they don't need to be paid back. Scholarships are generally offered through colleges, businesses, private individuals and outside sponsors. There are no standardized scholarships, meaning they vary from college to college. Those awarded by the college itself are often called merit aid. For some scholarships you need to be nominated. For most of them, you apply directly to a sponsor (the person or institution who is issuing the scholarship). So, check with your college to see what types of scholarships are available. Or, go online to to search thousands of scholarships for the ones that perfectly match you.

Some students are very successful at getting many little scholarships or occasionally landing a substantial award. These scholarships are awarded on a broad-base of criteria, the most common being academic merit. However, others are based on conditions such as financial need, affiliation with a church or community group, demonstrated leadership, athletic talent, artistic or musical ability so don't rule them out. Think of your skills and your community and get creative! Apply for as many as you can, as a bunch of little awards can add up to one big scholarship.

Beyond the Basics

Okay, so now you know the basics of applying for financial aid. But what's next? How do you find these mythical "scholarships" and how do you know which loans to apply for? Well that's where the "Pay For College" page comes in. CampusCompare has just launched a new page to deal with all your financial-aid worries. You can search and compare scholarships and loans to find the right combo for you! And as the dollars add up, you'll be that much closer to the college of your dreams.

Still don't understand the ins-and-outs of financial aid? Check out our Financial Aid FAQ's, glossary, and more expert advice on the "Pay For College" page. It has everything you need to go from $0 to your full college tuition.

10 August 2010

The Clock Is Ticking

Are you ready for school? It's coming before long…do you have the money to make it? Our blog today is featuring a number of online resources that point you in the direction of scholarships.


As much as a credit card seems like "free money," applying for college scholarships is the only way to get "free" money for college. Is it time consuming? Yes. Is it competitive? Highly. Is it worth it? If you want to do what you can to avoid high debt after school, definitely.


Check out these sites…let us know if you're able to obtain any financial assistance…



05 August 2010

Some Advertising to Ponder

I recently drove past a car dealership with the usual hype - gleaming cars arranged in rows, "On Sale" posters in the windshields, waving banners bearing the name of the brand... And on top of the dealership was a giant blue gorilla wearing sunglasses.

Yeah - that made me want to stop in and look around.

It prompted my curiosity and I began to realize how often some silly representation is there designed for the sole purpose of luring us in...

Consider the following:

  • Do you feel more rewarded when you buy a hamburger from a clown?

  • Do you enjoy your chicken sandwich more when a cartoon chicken has just boasted about extra juicy those sandwiches are?

  • Do you feel compelled to buy car insurance from a lizard, eh-hem, excuse me...a gecco?

  • Do Frosted Flakes taste better because they are represented by a tiger?

  • Do Scrubbing Bubbles really enjoy their trip around the toilet bowl as depicted in commercials?

Advertising is all about the gimic. They want to lure you in with a repetitive icon so that you will buy their product.

I'm still scratching my head over the big blue gorilla...not quite able to wrap my brain around the marketing genius on that one, but I will say this - I never drive past that car dealership without taking note of it.

What gimics do you find amusing? Do you think they work?

03 August 2010

Wants vs. Needs

We learn it early on - the difference between a want and a need. However - it's a lifelong lesson and sometimes, we have to take the time to learn it over...and over...and over again!

Sometimes the ability to distinguish the want versus the need lies in the effectiveness of a good marketing ploy.

We all know we NEED food to live. But, McDonald's, Burger King, Subway, any restaurant works hard and spends a lot of money to make sure we eat their food. The makers of Snickers candy bar even has the tagline, "Snicker's satisfies." The marketing brains behind these operations are trying to convince us that their product is the best thing to fill our NEED for food but unless we're trapped on a deserted island and the only option is a McDonald's kiosk - let's face it. That need is probably a want.

Can we live off fast food and Snickers? Sure - many people exclusively eat fast food. We've even heard of a guy who wrote a book on his daily Big Mac (should be some fun reading there - "Monday, I ate a burger. Tuesday, I ate a burger. Wednesday, I ate a burger...") But is that Big Mac a want or a need?

Let's say you're five miles from home and starving. McDonald's is just on the left and oh what you wouldn't give for a Big Mac and Fries. But - home is just a few more miles away and you just bought groceries yesterday, including the fixin's for hamburgers. At this point - the craving becomes a want instead of a need. You have food, you have access to food, and yet you may be willing to let your want override the fact that money has already been spent to supply the need.

It's in this mentality of want versus need that we often find ourselves in financial shortages. We've focused too much on the want and not enough on conscience spending.

How do you combat the want versus the need? Do you find yourself falling victim to marketing schemes designed to make wants look like needs?

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