UPDATE FROM JACQUES

I have not posted any new blogs over the last months due to an influx of work that has kept me very busy.I was advised today that someone else has been using my blog address and I want to make everyone aware. I would appreciate your input if this happens again.

Over the last months, I have had a strong desire to get closer to the Lord. Making him a priority is crucial for all of us. I believe 2010 will be a life changing year for alot of people.

Regards, Jacques

STAYING FOCUSED IN AN UN-FOCUSED WORLD!

Chaos seems to be abounding everywhere. Fear and uncertainty are all around us. What to do? Stay focused with what the Lord has called you to do!

Every century has had turmoil and seemingly insurmountable obstacles. With today’s technology we are made instantly aware of what is happening all around the world. This overload of information can make even the most stalwart of us feel overwhelmed.

A suggestion-stop the information overload! How much news can each of us handle and how much do we want to know anyways? Balance is needed more than ever.

What has God put in your path to do? Focus on that. A stay at home Mom? Business person? Working a 9 to 5 job? Life is made up of mundane activities, at times, but that is the stuff that life is made of.

In Ecclesiastes, the Word tells us that for a man to enjoy his work in his lifetime, this is a blessing. We tend to live in the past or the future. We all need to learn to live in the present and enjoy life one day at a time.

Focus on your family, spouse, career, neighbors, church -activities-the regular stuff that life is made of. Stay focused on your life and your purpose.

This will not only keep you focused on what is important but you will develop a peace in your life knowing that what you are accomplishing is meaningful in God’s eyes.

Jacques
CreatingWealthThatLasts

DISCERNING THE TIMES!

We are getting into the Fall of the year and, even though it’s been very hot lately, (not complaining!), we know that the seasons are changing. We expect it and are not surprised.

Have you also noticed that the stock market also has changed unexpectedly in October of most years? Why this is only the so called experts will have the answer! For us out of the loop, we need not be taken by surprise.

If you have read my prior blogs, you know that I am not a big fan of the stock market. I believe that this has been manipulated over and over again and the people running this don’t seem to be losing money-they can count on the government to bail them out!

I also believe that the stock market is a tool that keeps people in FEAR. Is your Faith in the stock market or in GOD? The times are changing and they will keep changing at an accelerated pace.

As we progress into the future, we would be wise to realize that changes will occur in more rapid ways and that we need not respond or be in fear. We are heading into unprecedented times and for those of us who have Jesus as our Savior and are really following him, we have the assurance that everything works out for the good for those that BELIEVE!

Discerning the times requires that we know and have confidence in HIM who controls the times and seasons. Do you?

Jacques
CreatingWealthThatLasts

LIVING FOR THE MOMENT!

My wife and I will be celebrating 40 years of marriage in January of 2010! At this point in our lives, we have lived through raising children, seeing them through school, enjoying grandchildren, surviving the ups and downs of marriage, health challenges, you name it-the stuff that life is made of.

We have learned to enjoy life moment by moment and to cherish the little things. At times, if we are not careful, we find ourselves living in the past or being too concerned about the future and we miss TODAY!

Today is really all we have. Let's enjoy today and be thankful that we have been given another 24 hours. Whatever challenges you may be facing at this time, take the time to look around and learn to enjoy the process.

I celebrated my 58th birthday in July and I plan on living a long and prosperous life and to do that I must enjoy the moments as they come my way. How about you?

Enjoy your day!

Jacques
CreatingWealthThatLasts

WHAT ARE YOU EXPECTING?

Our expectations have alot to do as to what comes into our lives. I have learned not to focus on the news, as it is usually negative and that will affect my thought process on a subconcious level.

If we allow negative to come in, it filters our perspective and we will not be expecting positive results. I don't mean that we should be unconcerned about what is happening around us, but we should not focus on it.

I have learned that by expecting the best and believing for the best, I am "calling those things that be not, as if they were". We can all control our actions and thought patterns by making a conscious decision on a minute to minute basis.

Things to avoid: Television, newspapers, and negative people! If you have negative family members-avoid them! By expecting good things to happen to you, you are developing a frame of mind that can handle most anything that life throws at you.

You become focused on the good of every situation that comes your way. Tragedy may come but you know that " all things work out for those that believe!"

Jacques
CreatingWealthThatLasts

LIVING A BLESSED LIFE!

Do you feel you are living a blessed life? If you are alive you should! We all tend to get focused on the business of life and do not stop to smell the roses. I just got back from a business trip to Orlando, Florida and I had the best time traveling there and back to Maine.

My flights were on time, no waiting, beautiful weather. Everything was near perfect. A blessed trip! Little things make a whole lot of difference if we take the time to appreciate them.

Even when we are undergoing life challenges: health issues, family issues, economic issues, you name it, we can still be living a blessed life. As a Christian, I appreciate what Jesus has done for me and continues to do. HE is the same, yesterday, today, and forever!

Be thankful for the food on your table, a nice day, your family and spouse, your job or business. Being thankful is a key part to living a blessed life.

Are you thankful? You must be living a blessed life!

Jacques
CreatingWealthThatLasts

PEACE ROBBERS: PART I

Ever been irritable? I have and not just once. If you learn to un-clutter your life and keep things simple, you will be amazed at the transformation that occurs.

Today’s economy is geared towards getting people to buy, buy and buy some more to stir up the economy. What happens? We buy too much stuff. In my neighborhood this summer, it seems that every other house is having a garage sale. Selling their stuff!

Don’t be a compulsive shopper who has to have the next new or better “thing”. Clutter robs your peace, especially if you bought in on credit.

Don’t be a hoarder or a miser. Learn to give things away and your money to worthy causes or charities. This takes your eyes off of you and on to other people. You can be a blessing in someone else’s life and you don’t need to be giving away a lot. A smile, buying an ice cream, listen with an attentive ear-get the picture?

Live below your means. Every get a 10% raise, OK maybe a 5% raise and immediately you have figured out how to spend it. Not good. You would be amazed on how little you can live on if you watch your spending. 10% tithe, 10% savings, and the rest can be used for living expenses.

Get out of Debt! This is actually the # 1 robber of peace. Stay tuned for more!

Jacques
CreatingWealthThatLasts

HANDLING STRESS!

I have talked previously on how watching negative news can fill us with worry and fear. We can be stressed from a variety of sources: work, family, health, finances, children, etc.

If you want to find people with no stress in their lives-go to the nearest cemetery! Some stress is necessary in our lives but a lot of stress can have negative consequences.

Thoughts on handling stress:

1. Exercise for at least 20 minutes every day. The best way to get stress out of our bodies and mind.

2. Eliminate negatively from your life. Negative news, negative family, negative friends, etc.

3. Don’t make value judgments about people or events. You are putting emotion into an event that does not need emotion. Disconnect your emotions from the event.

Keep a light heart. See the good in all situations, if you look hard enough you will find it. Learn to laugh more. We tend to be too serious about life’s issues.

Live in the moment. Forget the past, you cannot change anything. Don’t live in the future, it is not here yet.

Enjoy the simple things- a good meal, a sunny day, your spouse, children, etc. Practice being thankful.

A thankful heart is a joyful heart!

Jacques
CreatingWealthThatLasts

WORRY AND FEAR: ENEMIES OF SUCCESS!

Ever worry too much? What you worry about seldom happens and you cannot change anything by worrying. It drains your energy and keeps you focused on the negative side.

If you are in the habit of watching the news and reading newspapers, you will find that you will worry about all sorts of things that you have no control over! They never talk about good stuff on the news only the negative. What to do? Stop listening!

Believe me if something really bad happens someone will let you know. We can only control our actions and, therefore, focus on what you can do.

Fear is also a destructive emotion. We can be cautious but fear is the opposite of Faith. When you are operating in fear you cannot be in Faith!

Fear will keep you paralyzed, Faith will move you into action. Worry and fear are focused on the negative. Faith is focused on the positive. This does not mean that you have your head buried in the sand, it means that you expect good things to happen.

Today people are obsessed with the economy. We need to realize that economic cycles happen on a regular basis-up and down. This is nothing new. This too will pass. Nothing every goes up forever. We are undergoing a correction and then we will again see an upsurge.

Worry is wasted effort, fear is faith on negative steroids!

Don’t worry-be happy!

Jacques
CreatingWealthThatLasts

TOO TIRED FOR LIFE?

Sydney Harris once said “ A winner paces himself; a loser has only two speeds: hysterical and lethargic.”

In today’s fast paced lifestyle, it can be easy to run on empty. Too many things to do and not enough time. I am a firm believer in taking good supplements on a daily basis and this is crucial for our long term health and stamina.

If you find yourself fatigued on a regular basis you need to reflect on what the long term consequences can be. To operate at your optimum, you need to be refreshed and energized.

I used to run long distances on a regular basis and I found that I would get to a certain point and thought that I would have to stop because it got so difficult. I found that if I could push through I would get a second wind and go much farther than I ever anticipated.

Alertness and fatigue occur in about 90 minute cycles just like hunger does. If you are aware of this, you will realize that this is a cycle and you can get through it. Extreme fatigue can hit you after lunch or after work and this can last up to 2 hours.

You need to plan for this and not give up. Consider the following:

1. Drink plenty of water. This will help to flush out toxins.
2. Breathe deeply and sit up straight. This increases the air capacity in your lungs.
3. So some quick exercise. Push ups or a shor walk work wonders.
4. Use short naps. Remember short! 15-20 minutes.

You’ll be surprised at your energy level!

Jacques
CreatingWealthThatLasts

WHEN ARE YOU AT YOUR PEAK?

With everything that you normally have to do on any given day-they are times that you are at your peak and times when you are not. Consider the following:

1. You have about three hours of peak performance.
2. Five hours of good performance.
3. Six hours of feeling as if you are operating on six cylinders instead of eight.
4. Two hours of complete exhaustion.

People are different. For some- peak performance is in the morning, for others afternoons or evenings. Where are you?

Once you know where your peak time is you are in a better position to plan the following:

PEAK TIME ACTIVITIES:
1. Business writing.
2. Decision making.
3. Negotiating.
4. Work related reading.
5. Report writing.
6. Studying.

OFF PEAK ACTIVITIES:
1. Bill paying, errands.
2. Meals, personal phone calls.
3. Exercise
4. Informal discussions
5. Shopping.
6. Housework.

You can add or subtract from the above, but are you getting the picture?

Jacques
CreatingWealthThatLasts

BALANCING YOUR PERSONAL TIME AND BUSINESS LIFE!

B.C. Forbes once said “ The business of life is not business, but living”. How true. Most of us face a challenge when trying to balance life, work, business, family, hobbies, etc.

One thing I have learned is that we have to schedule our personal time just like we do business appointments. When you are living a satisfactory, successful life your business and personal hours are closely intertwined but we have to learn to focus on business and personal activities at the appropriate times.

Don’t drag stress and worry from your work to your personal life and vice versa. By separating both, you’ll find that job-related worry and stress levels can be reduced as much as 90%, leaving you more time and energy for personal activities like spending quality time with your friends and family.

If we don’t watch out business time priorities often seem to take precedence over personal time priorities. One reason we all work hard is to have time with our families and do those activities that we like.

Your personal time should be more important-if you want a balanced life. By nature, I am a workaholic. I like to work. There are always emergencies at work but, hey, life is going by while we are all handling emergencies!

Jobs and businesses come and go-but you only have one family, wife, kids! Make time to enjoy them.

Jacques
CreatingWealthThatLasts

TAKING CONTROL OF YOUR TIME!

Who doesn’t need more time? It seems that there is always more to do than the time we have. We all have 24 hours per day and to be truly successful we need to eliminate unneeded tasks, chores, duties, etc.

People will make demands on your time and if you are not disciplined you will find that you are letting other people control your time! There is no excuse for not putting a priority on your time.

Everyone has a phone at home or a cell phone. Have you ever been busing doing something and the phone rings- you answer it and an hour later you are still trying to cut off your friend. When the phone rings it does not mean you need to answer it, it just means someone is calling!

If you are doing something important-don’t answer. Believe me if it’s important, they will call back.

If you must know who’s calling-get an answering machine or caller ID and you can decide if you at least want to answer.

This also applies to answering emails. I have several email accounts and believe me they can get clogged up real quick. Check it twice per day. Most of it can wait.

Choose a set time every day to return calls and email messages. You’re the boss right!

Jacques
CreatingWealthThatLasts

KEEPING CONTROL OF YOUR TIME!

Thoughts on keeping ahead of the curve concerning time:

1. Arrive early and never late.
2. Be on time all the time.
3. Be ready before you leave the house.
4. Leave your car keys in the same place-easy to find.
5. Ignore the phone and doorbell when getting ready.
6. Fill up your gas tank at the end of the day.
7. Add at least ten minutes to your drive time, when driving to an appointment.
8. Carry at map at all times or GPS system.

By doing the above, you are becoming a no excuse person. Planning ahead is very important I have friends who are never on time and I mean never. I have learned that if I need to meet them somewhere, let’s say at 3 PM. I will tell them 2 PM and then they will be on time.

Your time is non negotiable. You cannot get back time that is lost. It’s gone! Make the best of the time you have and use it wisely.

Jacques
CreatingWealthThatLasts

FINDING TIME!

We will never find time for anything-we need to make time. If we consider the time we have on a weekly basis, we need to be good stewards of our time. We need time to sleep, eat, wash up, take care of our stuff, spend time with family, and work!

All of this takes time! How do we manage everything? Very carefully. We need to eliminate activities that are not productive and actually steal our time. One of the biggest- TV time. What a waste. I like to watch Christian programs but this too has to be limited.

Most of everything else on TV is basically garbage and not worth your precious time. If you don’t take control of your time, time will control you.

You maintain control of your time when you:

1. Plan your activities and objectives each day in advance.
2. Prioritize your daily activities.
3. Start on time.
4. Show up on time.
5. Refuse to get sucked into confrontations.
6. Eliminate interruptions.
7. Separate your emotions from the events that occur around you.
8. Maintain a positive, can do attitude.
9. Plan your work, then work your plan.
10. Complete your day by prioritizing your activities for the next day.

Get started today.

Jacques
CreatingWealthThatLasts

EXCUSES ONLY LEAD TO FAILURE!

People today think that breaking agreements is normal. As a result, much of their lives and relationships are conducted in the context of broken promises.

There are no good excuses. (Unless you die!) Excuses by nature are detrimental to your success, wealth, and well being. You can automatically avoid the necessity of making excuses for failure by keeping your agreements.

Follow these simple guidelines:

1. If you say you will call-call!
2. If you agree to an appointment-keep it!
3. If you tell someone you will get back to them on a certain date-do so!

Promise only what you can deliver. You are telling people a lot about your character when you keep your promises and agreements. You are telling people that you can be trusted and that you respect their time.

I have learned through hard experience that people who cannot be trusted to keep their word are not worth having in your life. These are people who drain your energy and waste your time.

Be a person of your word!

Jacques
CreatingWealthThatLasts

ARE YOU KEEPING YOUR AGREEMENTS?

Are you doing exactly what you say you are going to do? An agreement can be made with yourself, others, or with a group. Failing to keep an agreement, even with yourself, can have lasting repercussions in both your personal life and in business.

People today do not keep their agreements! It’s an epidemic! People are not people of their word. They are people of excuses!

Most excuses that people give are minor. A commitment is more important than a minor inconvenience. No wavering-no excuses. It’s a commitment to yourself!

Your ability and willingness to keep your commitments are a direct measure of the level of control you have over your life.

If you want to win, you must be able to meet your commitments in the face of excuse producing obstacles. Determination is all that is required to remove most obstacles and we do this by placing a priority on our commitments.

People who do not keep their commitments are not in control of their lives. They cannot be trusted and will not rise to positions of leadership.

Keeping your agreements will increase your self confidence, as you will not be bothered by excuses. You will make things happen!

Jacques
CreatingWealthThatLasts

MAINTAINING YOUR FOCUS!

To increase your effectiveness you must increase your focus. How do we stop our mind from wandering and going off in different directions? Written goals, objectives, and activity lists are one way.

Our mind will want to go off and daydream if we let it. Our flesh does not like to concentrate and work, it wants its own way and, if it does get its way, you will accomplish little if anything.

Focus is the process of keeping your thoughts, attention, and energy totally on the task at hand. By learning to maintain focus, at your own personal speed you will accomplish the most in the least amount of time.

Discipline is all that is required to maintain your focus and focus is the key to getting the important things done.

Your mind is an obedient servant-it will do exactly what you tell it to do, provided you tell it and your actions prove that you mean business.

But like a spoiled child, if not controlled your mind will take you off in random directions. Your mind is great at making excuses or finding reasons for not starting or sticking to a project.

Discipline means that you choose to operate in the no excuse and only action mode
Eventually discipline will become a habit, and when is does your ability to accomplish will run on automatic pilot without your needing to resort to excuses for inaction.

Choose to stay focused!

Jacques
CreatingWealthThatLasts

BEING DISCIPLINED!

Discipline is nothing more than the process of focusing on any chosen activity without interruption until that activity is done. Discipline is something you do and not something you have.

To become what others refer to as a disciplined person required only that you “do discipline” over and over again as a conscious act until it becomes a habit.

Discipline is all of the following:

1. The process of total time control.

2. The ability to stay focused on your chosen action path without detour, distraction, or interruption.

3. The ability to keep all agreements with yourself and others without blame, excuses, or caving in to obstacles.

4. The ability to show up on time, every time.

5. The ability to complete important personal or business projects on schedule, even on budget.

6. Ability to keep your mind, body, and emotions in balance, no matter what’s going on around you-even if it produces fear, anxiety, embarrassment or guilt.

7. The power to keep going forward when everything around you seems to be pulling back.

Discipline generates trust and confidence in yourself and attracts trust and confidence from others. The constant act of discipline magnifies your power to accomplish things.

Are you disciplined?

Jacques
CreatingWealthThatLasts

EFFICIENCY VERSUS EFFECTIVENESS !

Efficiency is the process of staying busy at all times, with no idle moments. Effectiveness is the process of producing the maximum results in the minimum time, with the minimum effort.

Efficiency, therefore, is not the key to getting more done. Have you ever had a day when your\ were so busy you didn’t get anything done? The feeling is a trademark of efficiency-lots of action, but lack of results.

The objective is to produce results with minimum time and effort, not maximum busyness and hard work. We all need to learn to work smart!

By transforming efficiency into effectiveness you will discover the following:

1. Every action has a purpose.
2. Interruptions are consciously eliminated.
3. Rushed motion gives way to rational movement.
4. Unbalancing surprises become a thing of the past.
5. You are seldom caught off guard.
6. Your life is planned, stress free, and seldom behind schedule.
7. Excuses for being late are left behind.
8. Deadlines are met.
9. Your life and your time line are under control.

Not all of your daily activities are of equal importance. Your mission is to organize and prioritize all activities into a working plan. You then work your plan from the highest priority activities to the low priority activities, until all are complete or you run out of time at the end of the day.

However, it is the number of priority activities that you complete that is important and ultimately determines your level of success. Use the 20/80 rule to prioritize your list of what is most important.

Jacques
CreatingWealthThatLasts

THE 20/80 RULE!

T
To increase our effectiveness this is a good rule to follow. Ever hear of it? 20% of the activities that you could choose to spend your time on will produce 80% of the results you are after.

Conversely, 80% of your possible activities will produce only 20% of the results you are after. This should get your attention. Just 20% of your activities will take you on the path to reaching your goals, whatever they may be.

The key is to identify the 20% of activities that are necessary and that are a priority. Once this is done, you need to spend the majority of your time and energy on those tasks.

It would be a waste of your time, talent, and energy to spend time on anything not in the top 20% of the activities on your list, at least until that 20% has been totally completed and that’s the point.

Applying the 20/80 rule also reduces the stress that often occurs when you feel like you are getting behind or just aren’t producing enough results for the time and effort you are expending.

With the application of the 20/80 rule, you will have learned to compress time-to accomplish in one day what previously would have required you two, four, or even ten days to accomplish.

Think about it and prioritize!

Jacques
CreatingWealthThatLasts

ARE YOU LISTENING?

A good listener is more appreciated than a good talker. That is because a good listener always allows people to hear their favorite speaker: themselves!

Being a good listener is not an accident. Some things to consider:

1. Always look at the person who is talking. Anybody worth listening to is worth looking at.

2. Lean forward as you are listening. This forces you to concentrate on what is being said.

3. Ask questions! This lets the talker know that you are eager to hear what he has to say.

4. Stick to the speaker’s subject and don’t interrupt. Don’t change the subject to something you are interested in.

5. Use the speaker’s words: you and your not me, my, and mine.

These are nothing more than common courtesy. This will pay off for you as you are listening. Hey, you might just probably learn something!

Jacques
CreatingWealthThatLasts

ARE YOU AGREEABLE?

If you want to be skillful in human relations this is a must! Nothing will help you more in your lifetime than learning to be agreeable.

Any fool can argue and disagree with people but is takes a wise main to agree-particularly when the other person is wrong.

Get yourself in a frame of mind and attitude of being agreeable. This doesn’t mean than you disregard your morals or put up with something you know is blatantly wrong, it’ s how you approach the matter and that person.

Let people know which points that you agree with them on. Do not tell people that you disagree with them unless this is absolutely necessary. If you don’t agree with them it doesn’t mean that you have to argue with them.

Admit it when you’re wrong. The average person will lie, deny, or alibi! Don’t argue! Nobody wins an argument.

You will run into people that are fighters-they are looking for a fight. Refuse to fight with them. Keep your mouth shut, as much as this may be difficult.

Remember: People like those who agree with them, people dislike those that disagree with them, and people don’t like being disagreed with.

Jacques
CreatingWealthThatLasts

MAKING PEOPLE FEEL IMPORTANT !

1. Listen to them: Refusal to listen to people is the surest way of making them feel unimportant and of rating them a nobody. Listening to them is the best way to make them feel important.

2. Applaud and compliment them: When they deserve it.

3. Use their names as often as possible: Call people by their names as often as possible and they will appreciate you for it.

4. Use their words: You and Your, not I, me, mine.

5. Acknowledge people who are waiting to see you: If they are in line or you are talking to someone else, make sure you let them know that you have seen them. You are putting them first.

6. Pay attention to everybody in a group: Not just the leader or spokesperson.
Good points to ponder!

Jacques
CreatingWealthThatLasts

BEST WAY TO TALK TO PEOPLE!

What is the most important thing people want to talk about? I, me, my, mine= me, myself, and I.

Talk about the other person. You can’t go wrong. Most people when they are in a conversation are focused only on themselves. You need to be actively focused on other people and make them # 1.

If you give up the satisfaction you get from talking about yourself and focus on the other person, you will find that you will have more influence.

People love to talk about themselves and you should let them. That’s how you become a better conversationalist.

Most of us are not effective when talking with others because we keep busy thinking and talking about ourselves. The thing to remember is that it is not how you like your remarks and subject, it is how your listeners like them.

Jacques
CreatingWealthThatLasts

UNDERSTANDING PEOPLE: PART I

Success in life involves getting along with people. It’s amazing how many smart, hardworking people lose out in life in jobs and businesses due to the fact that they have little or no people skills.

Understanding people and human nature simply involves recognizing people for what they are-not what you think they are nor what you want them to be.

People are primarily interested in themselves and not in you! The other person is 10 thousand times more interested in himself that he is in you. And vice versa! You are more interested in yourself than any other person in the world.

Men’s actions are motivated by self thought and self interest. Do you find this too harsh? You don’t have to be embarrassed by this, it’s just human nature.

Knowing this should help you in your dealings with other people. The focus is on the other person, not on you. I have found that all I need to do to start a conversation is ask the other person how he is doing. Normally, 30 minutes later they are still talking!

This is a key of life. Be more interested in other people than yourself if you want to succeed!

Jacques
CreatingWealthThatLasts

HUMAN INSIGHTS FOR SUCCESS: HOW WE RETAIN INFORMATION !

We retain information the following way:

1. 10% of what we read.

2. 20% of what we hear.

3. 30% of what we see.

4. 50% of what we see and hear.

5. 70% of what we say as we talk.

6. 90% of what we say as we do a thing.

How would the above apply to you? I do a lot of reading. I should be reading out loud. How about you?

Looking at the 90%, we should all be talking as we are doing a task that we want to retain information on. This applies to all aspects of our lives!

I am attempting to upgrade my computer skills. What I plan on doing is to talk to myself as I am learning a new program. If you are teaching someone, have them verbally repeat what they are doing.

I hope you are enjoying these short tidbits of information that we all need to internalize.

Jacques
CreatingWealthThatLasts

HUMAN INSIGHTS FOR SUCCESS: HOW WE LEARN!

The following are insights all of us need to be aware of. We learn the following way:

1. 83% through sight.

2. 11% through hearing.

3. 3 ½ % through smell.

4. 1 ½ % through touch.

5. 1% through taste.

Does the above surprise you? As a parent, this is sobering. It’s not what we necessary say that is important; it is what our children see us doing. If you smoke and tell your children “don’t smoke” guess what?

We learn predominantly by seeing. If you are a businessperson this means that your employees will learn more by observation; especially observing you!

We normally think that hearing is the most important. That is why some of us talk more than we should. A visual presentation therefore, will be much more productive.

Keep this in mind the next time you want to learn something or you are teaching something.

Jacques
CreatingWealthThatLasts

SAVING AS A WAY OF LIFE

Whether you are a W-2 employee or a business person it makes sense to develop the savings habit. Consider the following:

1. Auto and Home Insurance: You will be surprised at the difference in rates if you do your homework. I have saved thousands over the years by comparing every 1-2 years.

2. ATM fees: There is no reason to pay these. Find a bank that reimburses these fees. I have.

3. Don’t pay for a checking account. This is foolish.

4. Negotiate, negotiate, negotiate! There is no final price until you say so!

5. Watch for sales. I was going through a Walmart the other day and saw summer shirts for $3. I bought three!

6. Pay less at the grocery store. Use coupons. Coupons you may say! Yes! Plan ahead. Don’t buy name brands, you pay more for nothing.

7. Utilities. Adjust your thermostats summer and winter. This can decrease costs by 3-5%.

8. Only use basic phone service and use a calling card for long distance.

9. Limit eating out. You’ll save money not only on food but on clothing. (You won’t be gaining unnecessary weight!)

10. If you have a mortgage, pay an extra 10% every month. This is equivalent to paying an extra months payment.

Money saved is money earned.

Jacques
CreatingWealthThatLasts

MULTIPLE STREAMS OF INCOME PART IV

Let’s review the different ways of producing income:

1. Employment: Earning money in a job, working for someone else.
2. Self-Employment: Making money working for yourself.
3. Business owner: Producing income with a business system.
4. Investor: Producing income with money.

Ideally you need to have at least two of the above in operation to be on a sound financial footing. No category is better than the other, just different.

I have chosen to build businesses, as this works best for me with my interests, aptitude, character, and temperament. The world of business is focused on taking a calculated risk and requires financial literacy, and leadership. It utilizes the principle of leverage and brings economic freedom.

The best way to learn business skills is to start with a solid multilevel business model. A company that has been around for at least 20 years and is doing over a Billion dollars worth of business per year. There should be no need to inventory any products and you should be able to recoup your initial investment in a few months.

What you will learn in this type of industry is priceless regardless if you commit to this on a long term basis. Look at it as an education that does not require you to go back to school. You will be working with mentors who will guide you along the way.

There are also Internet businesses that have good potential. However, this is like walking into a mine field. There is a lot of hype and scams. You must do your due diligence.

Just remember, there is no free lunch and ever y successful business venture will require lots of hard work and persistence and the efforts are well worth it.

Jacques
CreatingWealthThatLasts

MULTIPLE STREAMS OF INCOME: PART III

Real wealth building begins once you are out of debt. Believe me living debt free is the best thing you can do. A lot of financial gurus will tell you to borrow money to build assets, using other’s people’s money. I don’t agree. Most people do not have the financial expertise to fully understand the down side to borrowing money to build assets. Just ask all the people who borrowed to buy real estate as an investment and now are losing their properties.

An investor defines an asset differently from a lender. To investors, an asset produces income or its earnings are reinvested and increase in value. A lender defines an asset as anything you own, such as equity in your home. Liabilities to an investor are things that produce negative cash flow.

That is why your home is actually a liability. Your goal is to minimize the cost as much as possible. Once your home is paid off, you still have taxes, insurance, utility costs, and maintenance costs.

The lender considers your home an asset because it is generating income for him!

Paying off a debt early is like getting a return on that money.

So what type of assets should you be looking for? It has a lot to do with your tolerance for risk. There is an abundance of books, videos, and websites available that discuss mutual funds, real estate, and all types of businesses.

If you look at the stock market it is not hard to see that the so called experts have no clue either. To me the stock market is like going to Las Vegas. The house has all the upside. My opinion.

Real estate? A lot of people have become millionaires in real estate and some still do and will do. For me, I don’t have the patience for this.

My choice is building businesses and leveraging the power of people. More to come!

Jacques
CreatingWealthThatLasts

MULTIPLE STREAMS OF INCOME: PART II

If you want income that is not totally based on your performance you need to move to Level Two, which involves income that works for you!

Let’s review the priorities for income:

1. Tithe/offerings.
2. Saving
3. Living expenses
4. Asset building.
5. Seed for investing
6. Foundation wealth

Level Two concerns asset income. Income from an asset that produces income for you. First of all let me stress that your home is not an asset. Why? Because it is draining finances from you. I did an entire blog on this earlier this year. I will not get into more detail on this.

You cannot develop assets if you have not saved. Before developing assets, you need to have 3-6 months of living expenses put aside to weather any type of economic challenge you might face, such as the loss of your primary income.

Asset development can include investments, managed income, and income not worked for. Developing Level Two income requires focused attention to the following:

1. Eliminating all consumer debt.
2. Acquiring assets-things you own that create income:
a) Businesses
b) Real Estate
c) Stocks, bonds, mutual funds
3. First priority is income coming in after all expenses.
4. Appreciation is secondary.
5. Replace employment income.
6. Insure acceleration of capital

We need to leverage something. Some people leverage real estate, some money, some people, some businesses. You need to choose something to leverage. Consumer debt is negative leverage. You are the one being leveraged against.

These will be discussed in more detail. Remember:

1. Pay God.
2. Pay yourself.
3. Pay everyone else.
Jacques
CreatingWealthThatLasts

MUTIPLE STREAMS OF INCOME: PART I

I have talked about this before but I feel it is important enough to revisit. In today’s economy we can safely say that business as usual no longer exists. The entire world’s economy has been adjusted and I believe on a permanent basis. The old rules no longer apply.

No longer can anyone expect to work 30-40 years for an employer and expect a nice pension and appreciation. Can we really rely on the U.S. government for Social Security?

It behooves all of us to take control of our lives and not leave anything to chance.

My personal belief is that retirement does not have a lot of merit. Granted we may want to slow down our activities involved in working as we grow older but I do not see retirement referred to in the Bible.

Our lives evolve and we may be doing something different in our latter years but we still need to be productive and active. Repeated studies have shown that people who retire with no goals, activities and some type of work usually die early.

So what am I getting at? To live a long and productive life we need multiple streams of income.

The first level of income is income you work for. That’s a start. Most people start at this point at some time in their work career. What does this type of income provide:

1. Ability to tithe and give.
2. Ability to build a savings plan.
3. Pay living expenses.
4. Provide for asset building.

Notice that there is a priority in using the income that comes in. Tithing and giving come first. This might be a new concept for you and I will cover this on another post.

Income you work for can also include being self employed income as well and can be further defined as non-leverage income. When you don’t work, you don’t get paid.

If you work at a labor intensive job, it becomes very important to develop multiple streams of income before you get older.

Jacques
CreatingWealthThatLasts

WHAT IS STEWARDSHIP: PART II

6. Good stewardsare passionate about faithfulness, persevering through the bad as well as the good times.

a) I Corinthians 4:2: Moreover it is required in stewards that one be found faithful.

7. Good stewards perform their work for the earthly owners “as unto the Lord.”

a) Ephesians 6:7L With goodwill doing service, as to the Lord, and not to men.

8. The only motivation good stewards need to perform their task is to please the owner.

a) Hebrews 13:16-17: But do not forget to do good and to share, for with such sacrifices God is well pleased. Obey those who rule over you, and be submissive, for they watch out for your souls, as those who must give account. Let them do so with joy and not with grief, for that would be unprofitable for you.

A steward is one who protects and adds value to the assets placed under their care by the owner. Stewards manage people, property, and resources which belong to another. A steward serves the owner and is accountable to them for the trust which the owner has placed in them.

1. God created everything and is the owner of it all.
2. Man is given responsibility to steward what God has created.
3. Because we were created in God’s image, we are expected to manage His resources in exactly the same way the Lord would manage them Himself.

Are you getting the picture?

Jacques
CreatingWealthThatLasts

WHAT IS STEWARDSHIP: PART I

1. Stewardship is knowing the difference between being the owner and being an overseer.

a) Genesis 1:26: Then God said, “Let Us make man in Our image according to Our likeness; and let them have dominion over the fish of the sea, over the birds of the air, and over the cattle, over all the earth and over every creeping thing that creeps on the earth.

2. Good stewards protect and grow the owner’s assets with passion, commitment, and faithfulness.

a) Luke 19: 16-17: Then came the first saying, “Master, your mina has earned ten minas.” And he said to him, “Well done, good servant; because you were faithful in a very little, have authority over ten cities.”

3. Promotion is determined by how we manage the small things we are entrusted with.

a) Luke 16: 12: And if you have been faithful in what is another man’s, who will give you what is your own?

4. Good stewardship is built on the foundation of trust and integrity.

a) Proverbs 11:1: Dishonest scales are an abomination to the LORD, but a just weight is His delight.

5. Stewards welcome evaluation and accountability, and understand these will make them better stewards.
a) Luke 19:15: And so it was when he returned, having received the kingdom, he then commanded those servants, to whom he had given the money, to be called to him, that he might know how much every man had gained in trading.

How are you doing so far?

Jacques
CreatingWealthThatLasts

THOUGHTS ON OWNERSHIP AND STEWARDSHIP!

The following is adapted from ‘Making Cents”.

1. We are stewards. God is the owner
a) The earth is the LORD’S, and all its fullness, the world and those who dwell therein. Psalm 24:1

2. We are called to stay busy, occupying until HE comes.
a) And he called his ten servants, and delivered them ten pounds, and said unto them, Occupy till I come. Luke 19:13

3. We are to be found faithful.
a) Moreover it is required in stewards that one be found faithful. I Corinthians 4:2

4. We will be held accountable.
a) And so it was that when he returned, having received the kingdom, he then commanded these servants, to whom he had given the money, to be called to him, that he might know how much every man had gained by trading. Luke 19:15

Are you an owner or a steward?

Jacques
Creating WealthThatLasts

BE-ATTITUDES FOR SUCCESS: PART II

More thoughts for success:

6. Faithfulness: Faithfulness confirms to others that you believe in God’s purpose for your life.

a) 1 Corinthians 4:2: Moreover it is required in stewards that one be found faithful.

7. Believing: Be absolutely certain of the possibilities.

a) Mark: 9:23: Jesus said to him, ‘If you can believe, all things are possible to him who believes.”

8. Attitude: Any circumstance, problem, or situation you face will never determine success or failure, but your attitude toward it will.

a) Philippians 4:6: Be anxious for nothing, but in everything by prayer and supplication, with thanksgiving, let your requests be made known to God.

9. Focus: The smallest amount of extra efforts can separate the high achievers from the crowd. The difference is focus.

a) Proverbs 4:25-27: Let your eyes look straight ahead, fix your gaze directly before you. Make level paths for your feet and take only ways that are firm. Do not swerve to the right or left, keep your foot from evil.

10. Goals: Establishing goals will give your focus a target.

a) Isaiah: 32:8: But the noble man makes noble plans, and by noble deeds he stands.

Take these to heart for true success!

Jacques
CreatingWealthThatLasts

BE-ATTITUDES FOR SUCCESS: PART I

I can’t take credit for the following but they are awesome:

1. Challenge: Challenges are necessary for growth:
a) Psalm: 105:19: Until the time that his word came to pass, the word of the LORD tested him.

2. Commitment: Commitment never asks how. It’s what you default to no matter what happens:
a) Ephesians 6:13-14:..and after you have done everything, to stand. Stand firm then.

3. Choice: It is through choice, not chance, that our destiny is determined:
a) Deuteronomy 30:19: I call heaven as a witness today against you, that I have set before you life and death, blessing and cursing, therefore choose life, that both you and your descendants may live.

4. Purpose: Those who know why they are doing something always outperform those who know how:
a) Psalm 138:8: The LORD will fulfill his purpose for me, your love, O LORD, endures forever.

5. Desire: We need to be passionate about it.
a) Psalm 37:4: Delight yourself in the LORD and he will give you the desires of your heart.

GREAT STUFF AND MORE TO COME!

Jacques
CreatingWealthThatLasts

EVERYBODY NEEDS A FRIEND!

I have spent a few days talking about the power of networks. How do I meet people you might ask? People are everywhere if you haven’t noticed. At the checkout line, at your workplace, in church, at the mall.

We tend to be so busy that we are only involved in our little world of work and life. Saying hi, offering a helping hand, offering a listening ear are ways to engage other people. We don’t need to have any hidden agenda other than to be friendly.

I have developed lasting acquaintances with using the above. Going about our daily lives and being aware of people around us. God has a way of placing people in our lives. We need to be aware and available.

Have you graduated from college or university? They all have alumni clubs that allow people to keep in touch. How about industry associations? What work or profession are you involved in. For years I was a member of the local Lion’s club. I met a wide variety of business people through this organization.

Hobby clubs. This list is almost endless. You name a hobby and there is a high probability that there exists a club where people meet and share ideas.

Get involved, reach out, you will be glad you did.

Jacques
CreatingWealthThatLasts

WHAT A NETWORK OF RELATIONSHIPS CAN DO FOR YOU! PART II

1. Networking can help you help others. You have unique gifts, experiences, contacts, etc. that can benefit someone else. Be open to share. Young people need mentors. A lot of organizations are looking for volunteers.

2. Networks can provide job security. As you expand your network, you have people in the know who can advise you of potential job openings or business opportunities. You can have a formal or informal network to advise you of possible jobs. When is the best time to be looking for a new job? When you already have one. You should always be in the looking mode and interviewing. You will meet new people and will be expanding your network.

3. A network can make you look good. Harvey Mackey once said “Your car just drives you to work, your network can make sure you have a job to drive to”. Keep in touch with the members of your network. Send cards, make calls, send emails. Find out what they are doing, maybe you can be of benefit to them. Keep your information current.

4. Networks expand your financial reach. You can barter services for items that you might need. You can obtain expert advice. You are made aware of trends and changes in the market place.

What have you learned over the last two days? You should be expanding your network all the time! For your benefit and the benefit of others.

Jacques
CreatingWealthThatLasts

WHAT A NETWORK OF RELATIONSHIPS CAN DO FOR YOU! PART I

1. Replaces your weakness with strength. With Facebook, Linkden, Twitter, etc we can connect with people of like interests and get input into any type of information we seek. We can develop long term relationships as well. Join the group that has the experts you need.

2. Provides immediate feedback so you don’t have to make needless mistakes. Your network can identify what’s unclear or confusing or simply wrong. Your network can be your sounding board to learn what works and what doesn’t.

3. People in your network can lead you to people in their network. Other people might have leads or know people that can help tackle your particular need. People are usually quick to help if they realize that you value their opinion.

4. A network can help you any place in the world. How many people in your network live out of the country? We are in tune into our little world and people living on another continent might have a different perspective on things. Colleges and universities have students from all over the world. A good place to network and meet new people.

5. A network can provide you with new experiences and knowledge. You will find that people have diverse interests and you become exposed to new ideas, businesses, hobbies, etc. You are expanding your life experiences.

Jacques
CreatingWealthThatLasts

RELATIONSHIPS CAN SAVE YOU FINANCIALLY!

Now, I am not talking about people bailing you out or providing finances, although that can happen. I am talking about having relationships with a variety of people that can provide insight, encouragement, ideas, support, motivation etc.

What types of people: pastors, friends, business associates, co-workers, teachers, family members, etc. Let’s take a look at reality, in today’s economy:

1. Talent will not save you. A lot of talented people are unemployed.
2. More training and education will not save you.
3. The government will not save you. Buy helping you, they usually enslave you with new taxes.

Having a network of people that you can tap into for wisdom and guidance can provide a life line to you in a time of need. Also you can also be a lifeline for someone else.

A recent study of successful people revealed that they had a large network of peers that they turned to for advice in a wide variety of areas. They knew who to call for specific information and who they could trust to be upfront and sincere in their advice.

How about you? How are your contacts? Would you know who to call if you needed advice quickly for a particular problem that your are facing?

It’s never too late to start cultivating relationships, even if you feel inadequate in dealing with people or are shy and quiet.

Jacques
CreatingWealthThatLasts

SURVIVING IN TODAY’S ECONOMY OR ANY ECONOMY! RELATIONSHIPS!

The changes in today’s world are happening at an alarming rate. The news seems to go from bad to worse. What to do? Stop looking at the news is a good start. There are a lot of things out of our control but there are things we can control.

We can control the books we read and the people we hang around with. We all go through seasons in our lives-some better than others but all offer us wisdom if we can learn from them.

I have had different people come into my life and then leave. Some were meant to be short term relationships and some lifetime relationships.

A mistake I have made is to not nourish those relationships with people that have contributed into my life. We all have challenges and sometimes we lose track of what is important and neglect those things that are really important.

Relationships are important and we need to take time for these. You need discernment in this area! There are some people that are leeches and take from you and do not contribute. Be quick to recognize these and flee.

There are people who pour into your life and they nourish your spirit and contribute to you in a lot of ways. These are the keepers. You also have something to contribute to others. You have life experience in some areas that can be of benefit to others who will need guidance and support at some point in their lives.

Over the coming days I will be discussing relationships and how they intertwine in our lives and how integral a part this plays as our lives unfold.

Jacques
CreatingWealthThatLasts

TEACHING YOUR KIDS FINANCIAL LITERACY-PART II

Work is a good disciplinarian. It teaches you how to value your time, make commitments, get up when you don’t feel like it, smile when you don’t feel like it, and value the money that you are earning.

My son started working at a very young age doing lawns in the summer and removing snow in the winter. He had a paper route and did this 6 days a week for years, in 20 below degree weather!

When he was 16, he started working at a gas station and worked there all through high school. He also played sports in school while working.

My wife took my son to the bank at an early age and had him put his money in a savings account. When he graduated from high school he had over $6,000 saved.

We did the same with our daughter. She babysat, took over her brother’s paper route and worked in a nursing home while in high school. She also played sports and was involved in her church youth group at the same time.

Both our kids worked while going to college and they both graduated with good grades and have good careers at this time. The big bonus: they graduated debt free!

We where diligent in teaching them about tithing, saving, and not getting caught in the credit card trap. Pay cash, pay off all credit cards in full at the end of the month, and save!

Teaching your children a good work ethic and taking care of their money is crucial. It does not matter how much money you make if you cannot manage it. Life has enough challenges without having to be stressed by finances.

Jacques
CreatingWealthThatLasts

TEACHING YOUR KIDS FINANCIAL LITERACY-PART I

I have a B.S Degree in Business Management and none of the courses I took in college ever discussed handling personal finances. If the majority of the people in the United States are in debt and have a poor financial picture, do we expect the so called experts to have it all together?

I have learned from bitter experience how to get out of debt and stay out of debt. I now have the responsibility to teach my children. This I have done.

When do we start and what do we do? First of all our children learn from what we do and not what we say! Your actions speak louder than your words. Do you talk about finances with your children? Are they aware of the bills that need to be paid?

For your children to learn about the proper handling of finances they must be aware and informed. Let’s start with having an allowance. Is this the right thing to do or is it a form of welfare? I have read a lot on this and I will share my personal experiences.

When my kids where at home we were always in some form of debt. We started out by giving a small allowance to them and then gradually, as I started to learn about getting out of debt, I stopped.
There are always chores to do around the house and they were required to do these as part of the household (not being paid). This included taking care of their rooms, taking out the trash, washing the dishes, etc.

We did pay them for some chores: snow removal, cutting the grass, washing the cars. This was a way for them to EARN money. They tithed on this, put some in savings, and had some to spend.

Some people allow their children to spend all the money they get whether it is earned income or gifts. This gives a wrong picture. They are learning to spend money as soon as it comes in.

Your children must learn to save and put off needless expenditures. More to come!

Jacques
CreatingWealthThatLasts

FINANCES AND FAMILIES!

Be careful! If you don’t want to jeopardize your family relationships, don’t get involved in any financial issues with them.

A family member asks to borrow money. What do you do? Lend it, charge interest or not? For me, I would give the money and not expect it back. It’s a gift. Why?

Every time you see that family member, they know they owe you money and so do you. What happens if they can’t pay it back? See what I mean. It can get very complicated.

Everyone faces financial challenges at times and it is good to help out but sometimes people need to get a second job, even if it’s for a short period of time.

My experience has been that I have helped people who really did not want to help themselves. I had an uncle (since passed away) who I really liked. Life of the party but a drinker. He used to call to get money because of an emergency and I found out quickly that he was not going to pay it back-ever!

Some financial pundits advise of getting a legal contract with relatives to make sure you get paid. My advice-don’t. If you don’t have the money to give, say so and save yourself the headaches of borrowing money to lend to a relative. People do this all the time.

Be a giver! Be wise in your giving! If you do give money to a relative, tell them to return the favor to someone else!

Jacques

BEING CONSERVATIVE WITH YOUR MONEY!

I don’t know about you but at this point in my life I have realized that there is no such thing as something for nothing and getting rich quick. As they say, easy come-easy go.

If you have put aside some hard earned money, you should be conservative and protect your principal. Look at the stock market and all the pundits who knew all the answers! They are still giving advice like they know what they are doing.

If you are risk averse, consider the following:

1. CD’s: Even with the low rates of 1.5% to 2%, you are protecting your principal.

2. I am presently using a credit union that has a special plan that if you keep $25,000/mo. in your checking account they are paying 4.9% interest. They have a few requirements -like using a debit card 12 times per month and having a payment subtracted automatically from your checking account but the payout is good.

3. Money market deposit accounts: These are savings accounts that are federally insured and have check cashing privileges. They usually have a competitive interest rate but could have some monthly charges so you do need to check around. The advantage of these is that you can take your money out at any time.

4. Treasury bonds: Series I savings bonds offer a fixed rate of interest plus are adjusted for inflation. You can defer taxes on these for up to 30 years and they are exempt from state and local income taxes.

You can sleep better at night with the above!

Jacques
CreatingWealthThatLasts

HOW BANKS RIP US OFF!

If you are a banker, please don’t get offended. It’s just that at times I feel that we are paying the banks to use our money!

I had a friend of mine who had a savings account in a bank and did not use it for a period of 2 years. He had several hundred dollars in it. Would you believe that after 6 months, they had started to charge him a monthly fee of $5/mo because he was not using this account. He paid $60 a year! Do you think he is still using this bank?

Ever had a check bounce? How about a $30-$40 dollar charge for insufficient funds and maybe it was not your fault. Never write a check if you don’t have the funds to pay it. What’s involved when you send a check in the mail?

1. The bank gets the check and sends it to a central location, where it is sorted and sent to a branch of the Federal Reserve Bank.

2. If the check is good it is credited to the bank it was deposited with.

3. The check is then sent to the bank which it was drawn from.

That’s why it takes so long for a check to clear.

What about ATM charges. What a rip off! Sometimes people are charged up to $5 per transaction, even if you only took out $20. This is big business for banks. I am presently using the services of a credit union, which credits back to me any charges I incur when using an ATM.

Maybe I should be getting into the banking business? Hey, if I fail the government will bail me out!

Jacques
CreatingWealthThatLasts

LEASING Y0UR WAY INTO DEBT!

Has a car dealer tried talking you into leasing a vehicle? There is NO good reason anyone should lease a vehicle-period!

Leasing is another way to rent what your paychecks can’t purchase.

Leasing requires some type of upfront payment ( dealers tell you don’t need anything up front, put you don’t get the low payments if you don’t). You pay all maintenance and repairs, a mileage stipend for every mile you drive over the lease agreement, and at the end of the lease you don’t own the car and you have to pay an additional amount if you want to buy it.

Does it sound wise to you to be leasing a new vehicle every two to three years? Why not buy what you can afford, keep it for at least 10 years ( depends on your yearly mileage), and put away the money that you would be spending monthly on a car payment.

People are worried about the decline in the stock market and through away money on car leases!

Leasing a vehicle for three years that costs about $23,000 would run you $13,500 ( assuming you get the security deposit back). But you don’t keep the car at the end of the lease. Financing for three years costs about $26,000 but at the end of the loan period you have a vehicle worth about $14,000.

Another definition for leasing “You, too, can drive a car you can’t afford”.

Jacques
CreatingWealthThatLasts

DON’T INCUR NEEDLESS DEBT!

I drive my cars to at least 100,000 miles and if I can, my goal is 200,000 miles. Now I might not have the new, jazzy model that everyone is driving or the new convertible that the men in their 50’s are all driving with gold chains around their necks and earrings!

But guess what? I don’t have a monthly car payment. I bought a 2002 Mercury Sable that had 25,000 miles on it. I do a lot of driving in my business and I just past the 200,000 mile mark. Still runs good and looks good too!

I have a friend who bought a pickup truck for over $50,000 and his monthly payment is just under $1,000/mo. No way! It’s money down the drain. Vehicles are depreciating assets that depreciate very fast.

If it comes down to putting in $1,500 of repairs in your present vehicle versus buying another vehicle for $25,000, ask yourself which is the smaller number and you have your answer.

Here is what a consulting firm recommends about keeping your present car or buying:

“New car payments are the decisive factor. Even though the new model has a much greater trade in value after four years and you save money on repairs and maintenance, the monthly car payment more than counterbalances the other factors.” In other words, the car payments eat up any savings you’d have.

Since a car is not as asset but is taking money out of your pocket, even if it is paid for, it makes sense to take good care of it-inside and outside. I have ridden in other people’s cars that were so filthy that I would not even want a pet in it.

Again, don’t try to impress friends with a new vehicle. It’s too expensive.

Jacques
CreatingWealthThatLasts