<![CDATA[THE MONEY ETIQUETTE GROUP - TheMoneyBlog]]>Sun, 11 Feb 2018 19:14:31 -0800Weebly<![CDATA[Ask Joe facebook live session]]>Thu, 29 Jun 2017 17:48:16 GMThttp://moneyetiquette.com/themoneyblog/ask-joe-facebook-live-session
<![CDATA[Ask Joe???]]>Thu, 15 Jun 2017 07:00:00 GMThttp://moneyetiquette.com/themoneyblog/ask-joePicture
Do you need some of your personal financial questions answered? Submit them here and our budgeting experts will do their best to answer them.

<![CDATA[T.M.E.G. Tip of the Day]]>Tue, 03 Jan 2017 19:41:32 GMThttp://moneyetiquette.com/themoneyblog/tmeg-tip-of-the-dayPicture
All savings are not created equal. While saving money is a good financial habit, it doesn't guarantee financial stability. The ideal savings conditions exist when all funds in savings accounts are growing faster than all depreciating interest based debts. If you're only earning .01% - 2.0% interest from the thousands of dollars in your savings accounts while paying 5% - 10% interest on your depreciating debts of equal or less value, are you hindering or advancing your overall wealth? Savings funds should always provide security while contributing to financial growth.

<![CDATA[Now is the time to start getting ready for the Holiday season!]]>Mon, 08 Aug 2016 13:38:03 GMThttp://moneyetiquette.com/themoneyblog/now-is-the-time-to-start-getting-ready-for-the-holiday-seasonPicture
T.M.E.G. Tip of the Day:

When it comes to budgeting, the month of August is the perfect month to begin preparing for the coming holiday season. "Back to school" sales offer the opportunity to purchase fall and winter clothing, and electronics like laptops, tablets, and cellphones at discounted rates. Winter vacations to popular warm weather destinations are still available and the costs have yet to reach peak levels. And for those who don't currently have the funds necessary for holiday spending, there are still more than three months left to save before December.

Do yourself a favor this year; start purchasing gifts and vacation packages or begin saving for the holiday season this month. Not only will you be in a better position to avoid unnecessary stress in December, you'll also be setting yourself up for a great financial start in 2017.

If you don't know how to do this or need help with planning ahead, contact my team and we will do our best to help you.


<![CDATA[What would you do? (there are no wrong answers)]]>Tue, 17 May 2016 18:21:35 GMThttp://moneyetiquette.com/themoneyblog/what-would-you-do-there-are-no-wrong-answersPicture
What would you do? (there are no wrong answers)
Scenario: You are single, have one child, and just got laid off after working 9 years within the public school system. Your savings are down to $1,500 and you will be evicted within the next 30 days if you don't pay rent, which is $1,100. All of your family lives out of state, and none of your friends will let you move in. You have enough food to last one month and your 6 year old child is out of school for the summer. You have no credit cards, auto loans, or student loan debt, and you don't own a car. Also, you're not receiving any help from the other parent. What would be your next move? How resourceful are you?

<![CDATA[D.E.B.T. Tip of the Day]]>Thu, 12 May 2016 00:08:52 GMThttp://moneyetiquette.com/themoneyblog/debt-tip-of-the-day9Picture
When you're looking to build a life with someone, make sure you understand your financial habits and use this knowledge to choose the most compatible partners. Being in a long-term relationship with someone that isn't financially compatible is horrible but avoidable with the right preparation. 

<![CDATA[If I had only listened to my uncle and said no to threesome’s]]>Mon, 08 Feb 2016 23:00:30 GMThttp://moneyetiquette.com/themoneyblog/if-i-had-only-listened-to-my-uncle-and-said-no-to-threesomesPicture
A few years ago, I ran into this woman at the bank.  I was only there to speak to my banker, but he insisted that I meet this woman. He told me she was an amazing woman and would be a perfect fit for me. I hesitated at first, but eventually convinced myself to go and meet her. What did I have to lose? If she was as beautiful as my banker said, I would regret not meeting her. If she wasn’t attractive, I would only have lost a few minutes of my time. With this in mind, I agreed to take part in this matchmaking. My banker took me over to meet the young lady and she was more beautiful than he described in our previous conversation. As we sat down and began talking she seemed to be very interested in me. She asked me about my career, background and future dreams. Her questions were very thorough, but seemed harmless. Once I began asking her questions the conversation got even better. She was so ambitious and needed a partner to really make her dreams a reality. I seemed to be the man she was looking for, so I decided to ask her to have dinner with me. Several dinners and long conversations later, she and I agreed to begin a relationship.  It wasn’t too serious, but we were committed to one another. All she really wanted from me was a few hours of attention each day and that didn’t seem like a big deal. 

During this period of our relationship, we traveled around the world, went on shopping trips and partied on a regular basis.  Then she hit me with an unexpected proposal. She asked me if I would be okay with including one of her friends in our relationship. That’s right, she was asking for a threesome. My uncle warned me about these types of relationships, but I wasn’t trying to hear it. There was only one stipulation. I had to spend at least three hours per day giving each lady some one-on-one time. Being young and dumb, I agreed to this change in our relationship. Her friend was a little more attractive than her and I wanted to hook up with her anyway. What young man would turn down such an incredible offer? This was a fantasy becoming reality. 

After being in this three way relationship for a year, I was in paradise. I thought our relationship would never change, but I started making mistakes. I wasn’t fulfilling my part of the agreement. My job required more of my time and I couldn’t spend three hours with both ladies on a daily basis. I promised them more time in the future and that I would make up for the time we lost.  Several months later I found myself owing them more time than I had available. There wasn’t enough time in one day to fulfill my commitment. I was 90 hours behind on my promise and the ladies were really getting upset. They would call me at least four times per day and their voicemail messages were cold hearted. I had to listen to message after message about how they were going to leave me and how inadequate of a man I had become. I couldn’t believe these were the same women I met just a few years ago. It was like they became totally different people. I made repeated attempts to explain my case to them, but they weren’t trying to hear it. I became depressed and decided to call my banker friend for advice. He was the person that sparked this relationship; so I figured he could help me. He told me there was a way out of these problems. All I had to do was make an agreement with another one of his friends and my problems would go away. 

The arrangement seemed pretty simple and realistic, though very unreal at the same time. This new guy would meet up with my ladies and agree to cover all the time I missed. His only stipulation was that I take his lady out three times per month until it equaled the time he would spend with my ladies. The new arrangement was acceptable to my partners, so I decided to go with it. His lady was decent looking and I figured this arrangement wouldn’t last too long. I had some new job prospects lined up that could possibly free up more of my time, and at the worst I could just give up and be okay with being known as a bad guy with nobody to date.  

After going through several interviews, I was sure I would find a new job. All the hiring managers said they were impressed with me and thought I’d be a good fit for their organization. Unfortunately they were filing me up with false hope because I wasn’t able to obtain any of those positions. Each hiring manager told me I was a great prospect, but changes in the economy wouldn’t allow them to meet my salary requirements. They wanted me to take an average twenty-five percent pay cut to join their teams. I couldn’t afford such a pay cut and the search continued. 

Finally after one year of searching, I was able to find a new job. This job freed up two hours of my day and I was on the road to getting out of my new arrangement. I wished I could free up more time, but beggars can’t be choosers. These additional two hours per day put me on pace to end my relationship with both ladies sooner rather than later, if I chose to keep my promises. It would also get me out of my newest arrangement more quickly; which was a bonus because I was really getting tired of her. At first I wondered why her guy would be so quick to pass her on, but it didn't take me long to get it. I couldn’t believe living out my threesome fantasy got me so caught up and busy, but I finally has a way out.

After trying to be a man of my word and following through on my previous promises, I lost the best years of my life and could never get it back. But what should I have expected? I was too young to really understand what I was getting into. Hopefully, I can help others to avoid this situation in the future by sharing my story. But they probably won’t listen. I didn’t listen to my uncle when I had the chance, so why should anyone hear me out?  I guess some will listen because my version of the story was a little better than my uncles. At least I used personal relationships to describe my credit card problems instead of boring them with bank lingo. That slight change in the story may be just enough to keep them listening until the end.  

<![CDATA[D.E.B.T. Tip of the Day]]>Thu, 04 Feb 2016 16:06:49 GMThttp://moneyetiquette.com/themoneyblog/debt-tip-of-the-day8Picture
Though saving money is great, don't allow your concern for financial stability develop into peniaphobia, the fear of poverty. Life is too short and exciting to waste it worrying about not saving enough. While we would never suggest not saving, we don't recommend overdoing it either. 

<![CDATA[Don't go broke preparing for a winter storm]]>Wed, 20 Jan 2016 17:14:04 GMThttp://moneyetiquette.com/themoneyblog/dont-go-broke-preparing-for-a-winter-stormPicture
The first big Mid-Atlantic winter storm of 2016 is on path to arrive this week, and once again people are panicking. The lines at grocery stores are already getting longer. The milk, bread, eggs, and bottled water aisles are being raided. People are filling up their vehicles and extra containers with gas. Stores like Home Depot and Lowe's are watching their once idle generators finally flying out the door. These actions are nothing but confirmation that the annual worry spending and hoarding season has officially begun, and retailers are celebrating.

Before you leave your homes to join in on this annual event, please do yourself a favor and really think about why you're shopping. Why do you need five dozen eggs? How much milk does your family really consume in one week? Are you planning on just eating sandwiches if you find yourself snowed in for a few days? Do you even know how to operate a generator and were you already planning on buying one before the media hype began? You should be asking yourself these questions and more before venturing out, otherwise, you will be a member of the annual post worry spending and hoarding season remorse club. If you'd like to avoid this remorse, check out our top five wasteful winter storm preparation purchases list below, and keep them in mind as you shop. 

Here are our top 5 most wasteful purchases people make when preparing for a winter storm:

1. Milk
If you're stuck in the house for three or four days, how much milk are you and your family really going to consume? Unless your household consist of at least four children and two adults, you don't need to buy more than one gallon of milk. Remember, milk won't keep you warm if the power goes out and it certainly doesn't cure dehydration. 

2. Eggs
Eggs are a great source of protein, but you won't use then for breakfast, lunch, and dinner if you're stuck indoors for a few days. At best they will be used for breakfast and lunch, but not all meals. Cooking eggs too often can also leave a smelly odor in your home, and that's the last thing you need of you're going to be indoors for a few days. Also, consider what will happen to these eggs if the storm doesn't keep you indoors more than one day. Unless you cook  breakfast on a daily basis or you love to bake cakes, they will just sit in your refrigerator for weeks. Consider substituting some of those eggs for canned soups. Soups are easy to prepare and a great to have if the power goes out.

3.Meats that require several hours of cooking time
Winter storms often mean power outages, and foods that require slow cookers or can't be prepared quickly are not helpful when your electric oven and other electricity dependent utilities can't be used . If you must have these foods, cook them ahead of time.

4. Gasoline to store away
Unless you have a gas powered generator, buying more gas than your vehicle can use is a waste of your time and money. Remember, you will likely be stuck in the house. How are you going to use all this excess gas if you're stuck in the house and don't have a generator?

5. Filtered water
When you look outside I'm sure you will quickly realize that you aren't likely to die from dehydration. Storing at least one gallon of drinking water will be more than enough. 

<![CDATA[The 5 fastest ways to spend 1.4 billion dollars]]>Tue, 12 Jan 2016 16:36:42 GMThttp://moneyetiquette.com/themoneyblog/the-5-fastest-ways-to-spend-14-billion-dollarsPicture
Over the last few days, I've listen to countless plans about how people would spend $1.4 billion when they hit the Powerball jackpot on Wednesday night. Some of the common themes were, buying islands, paying off family debt, using hookers and cocaine, moving to other countries, sharing the money with thousands, rebuilding cities, and becoming besties with Oprah.  But, what I heard more often than anything else was the idea that it would be impossible to spend so much money in a short period of time. This got me thinking about that very task. How fast could a person spend such a large amount of money? So I began to examine this scenario by eliminating all the misinformation related to winning the grand prize.

The first bit of false information I needed to eliminate was the idea that the grand prize was actually an instant $1.4 billion. The actually cash payout is estimated at $868 million unless the winner chooses to receive their payout over 30 years. The next task was to figure out how much of the $868 million would the average person be able to keep after paying Federal and State taxes. After federal taxes are paid, the winnings would be reduced to about $524.3 million, and once state and local  taxes are considered, some will need to pony up another $130 million. Florida, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming residents are exempt from this tax, as well as California and Pennsylvania residents that purchased their tickets in state. Therefore, the real take home winnings would be anywhere between $524.3 million and $394.3 million.

If you're keeping tally, more than half of the $1.4 billion grand prize has been spent before one penny was used for personal gratification. Just typing those estimates took the fun out of imagining how one could possibly spend so much money. So for the sake of entertainment, I'm going to pretend the grand prize was much larger and the actual instant post tax payout is $1.4 billion. Now let the fun begin.

Here is a list of the fastest ways someone could spend $1.4 billion dollars:

1. Purchasing a Sports Franchise. Most NFL, NBA, MLB, and non US major soccer franchises are worth at least $1 billion. If you want to be the sole owner of a major sports franchise, you may ended up spending the entire jackpot, especially when you consider that most of the current owners are not even considering selling their teams. 

2. Run for President of the United States with your own money. President Barack Obama spent roughly $750 million to secure a second term in the White House, but you would probably need to spend a lot more. Unless you have the backing of the national democratic or republican party or you are already a well-known celebrity, you are going to need to do a lot of convincing before most U.S. citizens will even consider voting for you. You are going to have to pull a Ross Perot type of media effort to get into the White House, and that would likely cost you the entire $1.4 billion. Presidential candidate Donald Trump has already said he would spend $1 billion if needed to win the White House. But wait, there is one more thing to consider, you still may lose. 

3. Finance a war on terror or start a radical movement. According to most estimates, the Pentagon has already spent nearly $2 billion dollars to combat ISIS. On the flip side, it is rumored that ISIS is the richest terror organization the world has ever seen. Some reports have this group spending nearly $2 billion per year to finance their campaign. No matter which side of the battle you are on, having billions is a must. 

4. Purchase and Airbus A340-300 private jet and use it. These jets will cost you anywhere from $600 to $700 million and takes an estimated $150,000 per trip to fuel and staff them. So if you'd like your own top of the line private jet to travel the world, get ready to spend most of your winnings.

5. Build your own top of the line film studio. If you'd like to become a major player in Hollywood, try building your own film studio. While you may have heard Tyler Perry spent millions on his Georgia film studio, it will cost you a lot more to build a studio on par with big time production companies like Paramount Pictures and Warner Bros. You could easily spend all of your winnings on this project before seeing one dollar in profits. 

These are just a few ways, in which you could quickly spend $1.4 billion, but there are many more.

 What would you add to the list?