We like to think of ourselves as consumers in the United States, but over the course of the next era we better get to thinking of ourselves as the savers. I could give you numbers, graphs and charts to support why this is true, but sometimes I feel that is just boring talk. You should be much more than a loyal customer. You should also be loyal to your family.

The bottom line is this: If you don’t save a percentage of every single paycheck you receive, you are short-changing your family and your future.

Spend time with your children teaching them the basic elements of regular saving and investing. Why? Because purchasing actual assets that generate income on their own or dividend to reinvest in those assets is the clear path to building wealth. More than this, regular saving will help you overcome the bad things that happen to every single person on Earth.

We say “good things and bad things happen to everyone. Celebrate the good and minimize the bad.” It’s more than a saying. If you build a proper emergency savings fund (15 to 18 months of expenses in money market savings or certificates of deposit), you will be doing a good job of minimizing the bad. Why? Because you will be prepared.

Spend some time this week learning how you can save more of your average paycheck without killing your lifestyle. Past blog entries on this blog can help you. Other sites are available on the internet to give you FREE ADVICE about saving more money regularly.

You can do it. Invest your time in yourself and your family. It will pay for a lifetime.

MAKE MORE THAN MONEY COUNT

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

Sometimes I feel like Noah talking to people about the great flood coming when I write this blog. If you take a moment and realize that good things and bad things will happen to every single person during their lifetime, you come to a conclusion that you must make saving money regularly a non-optional part of your family life.

The storm that is coming is part government taxing, part evaporation of jobs and part global economy. If you don’t prepare your family for this storm, you could be financially destroyed. We are talking about the kind of destruction that you hear about in other countries – not in the U.S. This can result in the kind of poverty you and your family have never seen.

BUT YOU CAN PREVENT IT

If you have a job today, you can and should be saving money. You should be teaching your children that saving regularly is a normal and non-optional part of life.

The emergency savings fund you should be preparing now should build to be 15 to 18 months of your expenses in a money market savings account or certificates of deposit (FDIC-insured).

How do you get there? You can do it. It just takes developing your own family plan for saving.

You can begin with our “1% Savings Plan” (see past blog entries for how this works) and you can also begin the process by looking at every expense you have paid in the last twelve (12) months. Break those expenses down into areas that you know are guaranteed (like your mortgage) and those that are carefree spending (coffee at Starbucks or movie tickets). Be honest with your own review of spending and see what percentage you can reduce your spending so you can contribute to savings.

Don’t focus on how much you are spending. Focus on the percentage of your after-tax income you are saving.

Of course, you should be saving for retirement with a 401k if your company offers it, but you need to save regularly for other things, too. This includes building your emergency fund (see above recommendations).

Saving money regularly will lead to investing. That will lead to wealth.

Remember: The single biggest impairment to building wealth in the middle class is debt. You especially want to reduce and then eliminate credit card debt. These people are your enemies and the enemies of your family.

Building your own plan that you can be passionate about for reducing debt and building savings will lead you to good places. It will help you teach your children that they can grow wealth and it will make your family more secure in the tough times ahead.
MAKE MORE THAN MONEY COUNT

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

If you have trouble beginning a pattern of saving, you must have a starting point.

This can be your starting point. Use our 1% Savings Plan. Begin with your very next paycheck.

You’ll need a calculator each time you get paid over the next twenty (20) paychecks.

Each time you get paid, take the amount of your after-tax income and multiple it by .01. This gives you an official starting point. Save this amount of your after tax pay before you pay any bill.

Then, each paycheck after that first paycheck you will want to add .01 additional percentage point and take the new amount to savings until you reach .20.

This will allow you easy into a strong savings plan without destroying your lifestyle.

We recommend that you develop a plan that grows your savings until you reach an emergency savings fund that includes 15 to 18 months of expenses. After all, it’s not 1984 anymore. It takes longer periods of time to replace your job if you lose it, and many Americans find themselves underemployed after losing their job and finding a new one.

It’s time to get serious about saving money. The good news is that you can do it. While most people focus on the amount of money they may be saving, you will be smarter to focus on the percentage of your after tax income.

Good luck!

HELPING YOUR FAMILY WHEN IT COMES TO FINANCE & FUTURE

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

“I can’t save because of unexpected expenses.” We hear it. Let’s face it – it is a reality for many today. How can you overcome it?

Take action by taking serious charge of your expenses and your bills. In Texas, they would say “take the bull by the horns.” If you don’t do this, you could end up down the road without the ability to PAY YOUR MONTHLY BILLS or you could end up with a homeless family.

I always say, “Good things and bad things happen to everyone. You should work to minimize the bad (and attempt to be prepared for it) and celebrate the good until someone tells you to cut-it-out.

So, your bills are weighing heavily on you because of some unexpected expenses. Let’s get positive and take control.

Divide your expenses into key categories. You can chop it down this way if you like:

1. Expenses that you can limit (eating out, going to the movies, Starbucks).
2. Expenses that must be paid right away. Mortgage, car payments.

Here’s where we have to begin with SELF-HONESTY. After reviewing your expenses for the last three (3) months, zero in on all spending that can be eliminated. Eating out? Cut-it-out. Take that money and begin applying it directly to savings. Why savings? So you have a pad of money to fall back upon if you lose your job or if you are otherwise negatively impacted by this economy or additional unexpected expenses.

EXAMPLES OF HOW YOU COULD BE NEGATIVELY IMPACTED BY THE UNEXPECTED

IF YOU LOSE YOUR JOB, you should do all you can to “circle the wagons.” Setbacks in this economy can take a good and long stretch to overcome. Negotiate on severance. You have nothing to lose since they are downsizing you. Make sure you are given credit for unused vacation days. Ask to use any company resource that could be helpful in finding another job. Seek out information right away on any retraining or separation benefits that may be helpful to you in finding another job. Educate yourself on COBRA with the company before departing. Determine how long you can pay your bills out of savings and any other money you may have available to you.

Seek out opportunities to volunteer. Most new jobs are found through contact and who you know. Many people don’t think about this, but volunteering puts you in touch with good people who may help you land your next big gig while you are doing something good for others.

IF YOU HAVE A LARGE DEBT BECAUSE OF MEDICAL BILLS, work with the hospital and doctors’ billing departments. These people hear it all, but they don’t want to end up with nothing. So, you should be patient and consistent. Let them know you want to pay, but let them know you are pushed against the wall. Explain your situation and explain that you have been hit hard by the economy. Work to negotiate with them on terms and especially a repayment plan that will allow you to survive without going bankrupt. Tell them it is your goal to avoid going bankrupt and you need their help. If you have health insurance, always follow-up with them before paying any bill. If you’re insurance won’t cover a specific bill, don’t just accept no. Fight it, but start by being polite and patient. Get a specific explaination of the denial. If the denial is because they don’t think the treatment was needed, get your doctor to write a letter explaining why it was needed. Always negotiate. Don’t just roll over. This is YOUR MONEY we are talking about here.

IF YOU STILL HAVE YOUR JOB, you can take even MORE action right now to help your family in the future. If you haven’t seen our “1% Savings Plan,” check it out in past blog entries. This plan allows you to start saving with as little as 1% of your next after-tax paycheck and then fairly quickly grow your savings rate to 20% without killing your lifestyle or becoming overwhelmed by the process of finding money to save each month.

HEAR OUR WARNING: The old days of having 3 to 6 months of expenses in savings is way off the mark. You should set strategy in your personal life to increase your actual emergency savings to 15 to 18 months of expenses. It is taking much longer to re-employ and it is also taking workers even longer to REPLACE THEIR INCOME. You don’t want to set yourself up for trouble. Get on the savings path to increase your barriers against trouble. You will be glad you did, and it will be easier and faster than you think!

MAKE MORE THAN MONEY COUNT

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

When you first become an adult, everything seems fresh and exciting. Your children don’t understand this, but responsibility creeps in and then often overwhelms.

Expenses come flooding your way: Children, credit cards, mortgage, student loans. It adds up quickly. Of course, credit card companies and retail marketing in general play a role by making it seem like you can “have it all.” It doesn't take long and it starts to seem like you are BURNING CASH and can't get ahead.

So, how do you get back on track?

How do you overcome the overwhelming feeling?

DEVELOPING A STRATEGY FOR YOUR FAMILY

The personal finance business is filled with “professionals” who really want to “help you” with your saving and investing. If you’ve been reading our blog for awhile, you know we are not big believers in other people doing the work.

Of course, it is good to seek professional advice when doing any investing, but you want to make sure YOU understand before you plunk down any actual money in anything.

Before you “invest,” you must also make sure you understand your expenses, your savings, your debt and your own pathway to save more money and boost your assets.

You must seek the knowledge, and you must begin a process of building your own confidence in your ability to make your money work for you – instead of you always working for your money.

A LOT OF PEOPLE WANT TO TAKE THE SHORTCUT

Me, too! Here’s the secret: There really isn’t a shortcut. The personal finance industry is filled with “offers” to “help you” take shortcuts. What should you do? You should help and involve your family in searching out the ways that rich people have used decade after decade to build savings and then wealth.

So, we don’t believe in shortcuts. We do believe in finding the strategies that have worked decade after decade for the rich. That’s why the rich get RICHER. Here are some basics that may work for you:

1. Work to reduce your debt. Start with high interest credit card debt first. Debt is the #1 impairment today for building wealth in the middle class in the United States.

2. Find a way to increase your savings one step at a time (check out past blog entries where we talk about “The 1% Savings Plan”).

3. Work to build a proper emergency savings fund (don’t say we didn’t tell you – it’s NOT 3 to 6 months of expenses unless you want to live like a homeless person to see what that’s like). A proper emergency savings fund is 15 to 18 months of expenses in an FDIC-insured money market savings account or certificates of deposit (nothing over 6 months). You should have your emergency savings fund and have an automatic 401k and Roth IRA before you really begin any serious additional investing. Our big goal with this blog – as you may know – is to encourage anyone and everyone that you can save and then invest more than you think.

4. Seek ways to purchase propelling assets so you can build your own Asset Train. Remember: A propelling asset by our definition is only something that reproduces itself.

5. Seek ways you can make money outside of your regular job expressly for the purpose of paying off debt faster and building emergency savings and investment.

BUYING STUFF OR BUYING ASSETS

Is it fun to buy stuff? You bet. Is it just as fun to purchase assets that will grow? Yes, it is.
Can you learn how to do this? Of course, you can.

WHAT ABOUT YOUR FAMILY?

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

Join us on the free Facebook group "Frugal Facebook" for even more!

The financial crisis made everyone stop in their tracks. Still, today people are wary about extra spending, but people rarely take the time to keep track of what is actually coming in and going out each month.

If you really want to do this correctly, you should track your spending and your income (from all sources) over the last 12 months.

Separate your expenses into categories for fixed expenses and those that change from month to month.

SEEK TO REDUCE YOUR FIXED SPENDING & YOUR “BILLS”

We recommend that you seek reductions in each bill you receive. By this, we don’t mean that you ask them to cut your bill this month. We mean that you have to develop a systematic way to call those who send you bills and ask for a percentage reduction to allow you to remain a customer. Tell them that you don’t want to end up bankrupt and that you DO want to continue to use their product (no matter if that is electricity or credit cards). Tell them that because of the financial crisis and the poor economy you need to reduce your bill with them by 10 – 15% and ask them how they can help you do it so you can remain a customer. You will likely have to call many times and ask to speak to supervisors, but you should work on this and be patient with the process. After all, if you can reduce bills by 10 – 15%, you will have more immediate money for saving and debt reduction.

One of the best things you can do for your family is to include them in helping you find ways to reduce spending so you can apply savings to both real savings and debt reduction. It shows that this is an important part of being an adult and it also helps train them on the best ways to achieve personal finance goals.

We repeat this all the time, but it is important. Gone are the days when your emergency savings fund should be 3 to 6 months of your expenses. In today’s environment, you should have 15 to 18 months of expenses in emergency savings (a FDIC-insured money market savings account or certificates of deposit of 6 months or less). Think about how long you THINK it would take to replace your j-o-b. Then, think about what you are not thinking about: What if it takes you even longer to replace your INCOME?

SAVE MORE THAN MONEY

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

You only live once.

You have to live.

You can’t just save, save, save.

I’ll save later.

You can never get ahead. So, why try?

There are always reasons not to do something. When it comes to personal finance, it is even easier because personal finance is b-o-r-i-n-g and overwhelming.

But the smart people are turning on to the simple fact that you can save money if you get a paycheck today. You can grow money the old fashion way: slow and steady wins the race.

Think about the last time you felt threatened at work. I mean your job. Do you fear losing your job?

Imagine if you had our recommended emergency savings fund for 2010? We recommend that you build 15 to 18 months of savings in your FDIC-insured emergency savings fund. No one wants to lose their job, but you can feel stronger about your personal position with the right-size emergency savings fund. And it builds faster than you think (check out our “1% Savings Plan” in past blog entries).

This isn’t about retirement. This isn’t about surviving. This is about EVERYTHING. Saving money is not an option. You must make it a part of your life so that you can build an actual future.

If you only look at personal finance as a boring subject or something that overwhelms you, you are likely to slip away into poverty as you grow older. Take action and learn, grow and boost savings and wealth the old fashion way starting now.

Savings + debt reduction = a happier you.

SAVE MORE THAN MONEY

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com


Follow us on Twitter @ BOOSTMONEYBLOG.

You've heard the saying, "Save money or go home." What about "Save money or NO home?"

If you are like us, you worry about family first. However, you are not unaware of the crisis happening in American money, business and financial balance. In fact, the Chinese seem that they are entering their century and it looks like we are reevaluating our standing in the world while our political and business structure seems out-of-whack.

In life, there are no pat answers to the future. One of our constant themes on this blog is that humans are not very good at telling anything about the future. At the same time, so many American families feel saving money is out of their reach.

One pat answer that IS true is NO SAVING = NO FUTURE. If you've read this blog for a long time, you know we believe that good things and bad things happen to everyone. That means that you must save consistently so you can always overcome bad times. That will help smooth out your life.

Why do the Chinese know this much better than you or I? What makes them so much better at it?

Have you seen the differences between your average Chinese citizen and your average American when it comes to saving money?

Much of the focus for the last sixty years has been on our American dream being home ownership. To get there, some have skipped saving up, reducing debt or overall balance in personal finance. Much of what we consider the “American Dream” has been altered and sped up. This has made some wealthy, but it has left a lot of Americans holding the bag of extra debt and lifestyle many cannot afford.

WHAT IS THE SOLUTION?

Your regular and automatic saving should not be optional.

If you make saving optional, you won’t save. The hard truth is that things have changed. Credit has pulled back because of abuse.

If you are not already saving 20% of your after-tax income in addition to your contributions to your 401k, you should spend some time looking at your spending, your bills (especially credit cards) and ways you can generate additional income outside of your regular job.

EMERGENCY SAVINGS FUND

Your emergency savings fund should include 15 to 18 months of expenses. It can develop faster than you think – but you must begin by committing to regular and automatic savings. You must make a sport out of reducing and eliminating debt while you build emergency savings.

Only those with money will have options in the future, and those opportunities are drying up. Have you searched for a job lately? If you have a job today and are not saving, you are BLOWING IT.

You can take more control of your personal financial picture. After all, we are the consumers and drive 70% of this economy. You and I have the power - if we use it.

Today is the day to begin negotiating on those items you regularly purchase. Today is the day to look at all of your debt. Today is the day to begin moving toward a more solid family budget and regular savings plan.

The best news: you can do it. Just begin.

SAVE MORE THAN MONEY

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

What must it be like to win the Powerball or Mega Millions? Your dreams come true and you don’t have to worry about anything, right?

You see those people who win $215 million dollars in the big lottery and end up deep in poverty. How does that happen? It would never happen to you, right?

WHY WOULD IT NEVER HAPPEN TO YOU?

Maybe it wouldn’t happen to you because you already save 20% of your after-tax income. If that’s not happening in your personal life, you could be in trouble if you won the Powerball or Mega Millions. Does that make you smile?

The truth is that rich people think about money differently than most of us. They think in terms of assets and liabilities. They think about ways to get their money working for them instead of them always working for their money.

Rich people work hard at getting their cash flow as high as possible and their taxes as low as possible. This answers the question why the rich often get richer and the poor get poorer.

RETHINK YOUR PERSON BUDGET THINKINGs

Revise the way you look at money. Focus on your emergency savings fund until you have 15 to 18 months of expenses in your fund.

Then, focus on assets that boost your cash flow or reproduce.

Today is your day to know in your heart that you can develop your own plan for boosting savings, reducing debt and find ways to produce income outside of your day job and grow assets. This is the true way to get ahead.

If you have a job, you can begin saving money. You can grow your assets. Focus on the percentage of after tax income you save with each paycheck and truly pay yourself first. Do it before you pay any bills (check out our “1% Savings Plan” in previous blog entries).

You want to be in a place where you can look back and know you are as good as anyone else. You can look back and know that you have the confidence because you developed your own plan.

You don't need to win the lottery to build savings and wealth and develop great habits to boost your wealth and take care of your family.

Do it! Don’t wait. And good luck!

SAVE MORE THAN MONEY

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

Q. You believe now is the best time to save money, don’t you?

A. Saving should not be optional. It is not optional if you care about your family. What is optional is what you teach your children and how we have taught children over the last 40+ years. If you were not told savings was critical and expected, you drifted. Many Americans drifted. It has caused a series of problems that end with living paycheck to paycheck for millions of American middle class families today. In terms of pure savings, I do believe this is the best time to save. Consumers run our economy. We live in the era of the internet and global competition for our dollars. We have the great opportunity to negotiate on everything. The financial crisis has put all people sort of in the same boat. That means everyone understands that times are tougher than before and you can negotiate on everything from the price of a TV to your debt. The old days of being embarrassed to negotiate are gone. Now we know that only smart people negotiate. Being smart leads to savings and eventual wealth.

Q. How do American middle class families start a savings program with all the priorities and “things that come up” today?

A. You can begin with our “1% Savings Plan.” Start with your very next paycheck. Multiply the after tax amount you get paid by .01. Put that amount in savings before you even think about anything else. Then, each paycheck after that, add another .01 until you eventually reach 20%. It is overwhelming to think about saving large amounts. People should not be focused on how much they save. The focus should be based upon the percentage you save of your after tax income, and you should begin slowly. 1% is a good start, but you must begin. And you must continue to push the amount you save ahead of any spending (including bills) by an additional 1% with each paycheck. If you can’t move that fast, you can use a 1% change in savings each month until you reach 20%. Either way, this plan encourages the old saying, “Pay yourself first.”

Q. You believe the old emergency savings fund is dead. What do you believe should be the new goal in 2010 when it comes to emergency savings?

A. We recommend you build 15 to 18 months of expenses into your emergency savings in the form of FDIC-insured money market savings and certificates of deposit. The old 3 to 6 months does not take into account how the world has changed. If you lose your job today, it may be longer than you think before you find employment and even longer before you replace your income. Using our 1% Savings Plan will help you build this savings faster than you think.

Q. You have said you don’t believe in chasing your credit score. What does that mean?

A. Well, first, let me say that I believe you should not do anything to destroy your credit. We all have to recognize that the system is upside down. Pressures on retail and big business have forced them to utilize marketing over the last 30+ years to make your credit seem more important than your actual money. We don’t believe this is true because we don’t believe you should be focused on borrowing. We believe you should be focused on debt reduction and then elimination. Money gives you options. That’s why they say “cash is king.” We tell people all the time that you can’t own credit cards. Credit cards own YOU. Debt – and especially credit card debt – is the #1 impairment for the building of wealth in the middle class today.

Q. Is this why you are so aggressive with credit card companies?

A. Yes. Credit card companies have largely made it very difficult for younger consumers and the middle class in general. We believe you should apply as much pressure back upon them as possible. Again, this is negotiation.

Q. What do you recommend?

A. While we don’t endorse anything on our blogs and our main site (www.middleclassmoney.com), we do recommend that families develop their own plan for building savings and eventually wealth by focusing on the reduction and elimination of debt (starting with credit card debt). We believe in the today-sized emergency savings fund. When it comes to investing, we believe in the reduction and elimination of fees. The personal finance industry is thick with sharks wanting to share in your money. The real questions should be: “What are you doing for me? And “What are the real fees?” We’re big believers in out-the-door pricing. Asking what the total cost is can be critical.

Q. What is the biggest problem you see or hear from people about starting a true savings program?

A. Hands down, it is being overwhelmed and feeling they can’t do it. When you think about the average adult with kids, you think about the bills and the unexpected money issues that pop up any everyone’s life. Saving is not optional if you love your family.

Q. Is that why you launched www.middleclassmoney.com?

A. Well, we started this for the kids. No one taught us anything about money and managing money, savings, investments and retirement. We wanted to give them more than we received so they can grow their lives. That will be needed in this next generation. So, eventually people we knew began to be aware of what we were doing and said we should share this information with others. We decided to do it through the website (www.middleclassmoney.com).

Q. You charge for the e-book “How To Survive Any Financial Crisis.” Why?

A. You can talk to anyone about saving money. We all want to do it. We only charge $4.95 for the e-book. It separates the people who hope to save and those who really want to find ways to increase their savings and eventually their wealth. If you can’t spend $4.95 on this e-book, you are in trouble. The $4.95 goes to help fund our outreach efforts and help pay for the www.middleclassmoney.com.

SAVE MORE THAN MONEY

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com

Everyone wants to do a good job of saving money. The problem is that it’s not sexy. In fact, it is not even as fun as going out to eat with friends or purchasing that new thing you want. You know the one.

In today’s economy, the greatest tragedy is that people only think about savings when they get in trouble.

Lose a job: Oh, I wish I had saved more.

Health issue: Oh, if only I had saved money.

Car breaks down: Oh, if I only had more savings.

Stop the madness. In today’s economy, saving is not optional. I have a famous saying (at least famous to me): “Good things and bad things happen to everyone. Minimize the bad and celebrate the good until someone tells you to cut it out.” Notice this sentence does not start with “good things and bad things could happen to everyone.” It says DOES.

COLD WATER TIME

You should be saving 20% of your after-tax income.

If you are not, better begin taking a serious look at your finances. Where have you gotten in trouble?

When businesses get in trouble, the begin to cut expenses and look for effective ways to both reduce overhead and be as productive as they can be. We recommend the same thing for you personally.

Put yourself on the “hunt” to reduce your monthly expenses by 10 – 15%. Begin to use negotiation on any product you normally purchase. Spend time on the internet looking for ways you can utilize coupon codes for things you normally purchase (if you use coupons on items you don’t need or don’t regularly purchase, you have not saved any money. You have participated in marketing).

Look for ways you can reduce your regular bills. Ask for help from the people sending you the bills. Seriously. Call them and tell them you need help and ask for suggestions. Be open-minded. Your goal is to reduce your spending by 10 – 15%. Their goal is to NOT LOSE YOU as a customer.

If you’ve been following this blog, you know that we believe in the reduction and eventual elimination of credit card debt (you can’t own credit cards; credit cards own YOU). You also know we believe in emergency savings – 15 to 18 months of expenses. This is what you should have in emergency savings today.

Don’t have it?

Get started. Don’t wait. Bad things will happen to everyone. Savings is a good thing and should NOT be optional in your life.

What would change about your life and your stress if you had 15 to 18 months of expenses in emergency savings right now?

You can do it. Get started.

SAVE MORE THAN MONEY

In this country we don’t do enough to teach our children about money, managing money, saving regularly (and automatically), compound interest and steady investing for a long-term future. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor and one of the best things by sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at www.middleclassmoney.com.

Thank you for reading our blog and good luck!

Loyd Ford
www.stickyasset.com/blog
www.middleclassmoney.com
www.boostmywealth.wordpress.com
www.squidoo.com/boostmywealth
www.stickyasset.com