ECONOMIC POWER

LadyBridget · (#1 (**permalink**))

In order to gain economic power we as a people must learn to save, teach our children to save, and decrease our debt.I started this thread to share money saving ideas and really good books on the subject.

I just purchased a book entitled, "The Complete Tightwad Gazette" by Amy Dacycyzn (pronounced decision).She gives tightwaddery a good name and shows you that"tightwaddery is about fun and creativity not denial and deprivation. I started to save after reading the first chapter.

This book is a must for anyone trying to save and or get out of debt.

My tip: To save money get it from the library.(you will eventually buy it.)

If you can't save 10% of your salary come hell or high water, the seeds of greatness are not in you.

Aryek · (#2 (**permalink**))

Okay, you pay for all of my bills and I keep all my earnings to myself. How's that for a money saving idea?

LadyBridget · (#3 (**permalink**))

Aryek wrote:

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Okay, you pay for all of my bills and I keep all my earnings to myself. How's that for a money saving idea?

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What would you do with the money you kept to yourself? Would you save it?

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Money management is learned. You should be able to pay your bills and save. If you are not managing well, learn.clp)

Aryek · (#4 (**permalink**))

LadyBridget wrote:

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Aryek wrote:

Quote:

Okay, you pay for all of my bills and I keep all my earnings to myself. How's that for a money saving idea?

Quote:

What would you do with the money you kept to yourself? Would you save it?

Quote:

Money management is learned. You should be able to pay your bills and save. If you are not managing well, learn.clp)

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Why I would go shopping with the money I keep for myself off course.

I'm kidding sis. Saving money is very important. I find that investing some of your money instead of letting it just sit at the bank can make you a lot of money in the long run. Off course you have to find out what kind of investment is right for you and you need to stay away from those high risk ones if you don't have money to burn.

LadyBridget · (#5 (**permalink**))

Aryek wrote:

Quote:

LadyBridget wrote:

Quote:

Aryek wrote:

Quote:

Okay, you pay for all of my bills and I keep all my earnings to myself. How's that for a money saving idea?

Quote:

What would you do with the money you kept to yourself? Would you save it?

Quote:

Money management is learned. You should be able to pay your bills and save. If you are not managing well, learn.clp)

Quote:

[line]

Why I would go shopping with the money I keep for myself off course.

I'm kidding sis. Saving money is very important. I find that investing some of your money instead of letting it just sit at the bank can make you a lot of money in the long run. Off course you have to find out what kind of investment is right for you and you need to stay away from those high risk ones if you don't have money to burn.

It sounds like you know what you're talking about. Tell us more.Thedifference between and money market account and a regular passbook savings account. Why you should shop for the best checking account. The benefits of CD's, bonds, stocks, ETF's. Staying away from commodities. Investing in Real Estate.

By the waying.com now offers 4.75% on new money. HSBC has a rate of 4.80%, and Emigrant is at 4%. ing and HSBC are both online accounts. All you need is a checking account toopen your account online.

Like I said I started this thread because I once saw a girl on TV in tears about how the koreans were "getting rich off of us". We all have heard resentment in the voices of many Blacks about the Jews and their wealth. I think we should take a page out of their book. Many of them didn't inherit their wealth. They saved and sacrificed. They used creative means to save. We should know them. If you know any, share them.

This thread is not to tell anyone how to spend their money. I would like to use this thread to share ideas about how to save and invest.Savinglike any other habit is hard to break once you begin. Weshould be instilling this habit in our children by example. We must start to share and talk about the importance of keeping some of this money we are making.

If you find something that you can do or use among the tips given, then do it.The more money we have as a people, the bigger our voice willbe.

Any more tips anyone?

DtotheJ · (#6 (**permalink**))

keep a subscription to Consumer Reports magazine or online version.....

not just helps you save money..makes you a more educated consumer...

our people need to understand the value of our money.......

LadyBridget · (#7 (**permalink**))

The consumer reports website is at www.ConsumerReports.org.

Consumer Reports Money Adviser gives expert, independent advice on money management, insurance, retirement, taxes, law, and a host of other informative advice.A must for those getting started. There are no ads. No pressure to invest in this or that. Just good sound information for YOU to make informativie decisions about yourmoney.

To subscribe call 1 800-234-1970

DtotheJ · (#8 (**permalink**))

just the magazine in general.....the money adviser and other publications are branched out from the consumer magazine...... they rate products and help people get the best value for their money.....they might also give sound economic and investment principles.....but person still has to do their own research and make own decision about that.....

I kid you NOT.......whenever you go shopping in what is consdiered a "white area"....the item that CR recommends as a best buy.....is always sold out....

ac9311 · (#9 (**permalink**))

A good place to start is to buy the total money makeover by Dave Ramsey. The bookis a straight forward start to wealth building and debt reduction. You can also buy the bookoff of his website @daveramsey.com.

LadyBridget · (#10 (**permalink**))

A few years ago while shopping in a discount store I purchased a book called "The financially confident Woman" by Mary Hunt. It was $2.99US. I had $38.00 in the bank. I haven't looked back since.

There are many other good books out there. Start reading. What you don't know is out there for free for you to learn. Search the internet. Go to the library.

And remember, if you've ever put a bucket under a leak, you know what a drop can do.

To save on grocery shopping whether you are single, a couple, or a family consider these money saving tips:

Stick to a list when shopping.

Don't shop hungry. LOL

Shop bulk and build a pantry. You should buy enough to last you to the next sale.

Shop sales, use coupons, find out double coupon days.

send in those rebates and refund offers.

Shop less often.

Group you errands to save on gas.

Get books from the library and thrift stores.

If youare able, cook from scratch more. (bake you own bread, make your own pancakes, muffins (you can put them in baggies and freeze them for individual use.)

Buy a battery recharger.

Order discount checks. Bank checks are very expensive.

Frozen fruit juice concentrate is your best buy...

LadyBridget · (#11 (**permalink**))

If you believe that you are ready for prime time:

Run don't walk to the nearest library, thrift store, or discount book store.

If you don't knowbut alway wanted to know the difference between a money market account, CD, bond, common stock, preferred stock, mutual fund, , REITs, what is a P/E ratio, what is compounded interest?, etc, get "What Savvy Investors Know, That You Don't, by Alison Smith Harliquin Publishers.

It's very easy reading , comprehensive and a must for the novice. You won't ever take your hard earnedmoney for granted again. A must for anyone who wants to learn to make your money work for you instead of working for your money.

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If you believe that you are rich long before you receive any money, read Think and Grow Rich, A Black Choice, by Dennis Kimbro and Napoleon Hill.

If you are a go getter, this book will make you"go get it."

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"The Millionaire Next Door, The Surprising Secrets of America's Wealthy," by Thomas J. Stanley and William D. Dank. Longstreet Press, l996

Whether you already practice these "secrets" or develop these "secrets" you will know that you are a millionare "in waiting." You will need a bigger bucket, drip, drip, drip, drip, drip, drip, drip, drip, drip,.................