From Yogi Bhajan, Master of Kundalini Yoga
Sit cross-legged on the floor with a straight back, or on a chair with spine straight and feet flat.
Close your eyes and block left nostril with left hand. Continue breathing through the right nostril for one to three minutes with a focus on your breath.
A clear mind opens the window to happiness.
It’s not enough that you work every day. If you want to become rich, you also need to invest your money so that it will earn for itself. This is the same concept of putting your money in the bank but the low interest rate that banks give is not enough to combat the rising inflation rates. In fact, if you really want to double or triple your money, experts suggest that you put up a business. However, this is not an option for most people, especially those that are afraid of taking risks. Thatís when asset management comes in.
Asset management is the professional management of your money and other assets like stocks, bonds and even real estate for better profit. This is often done by financial advisors and portfolio managers for a fee or most often a percentage of the earnings in a period of time. This fee is what makes most people, especially retirees, shy away from hiring asset management people.
If you know the economic environment and understand investment terms, you can actually take care of your own assets. Here are some tips on how to manage your money and properties yourself.
1. Ask people
Do not be ashamed to ask people for advice or recommendations. Start with the people that you know. Ask friends or colleagues. If you know people who are good in business, approach them. They will be wells of information. This is because they are probably doing their investing themselves and will know business investments that are really good. Plus, these people in the industry are the first to know about stock news and gossips; so you will have first knowledge of the goings on.
Ask them whatís the latest stock that they bought or what investment opportunities do they know that can yield a lot of money. Even if they are not doing asset management themselves, they can probably mention a couple of companies or investment funds that their managers recommended. This way, you are benefitting from asset managersí wisdom and expertise without having to pay for the fee.
2. Do your research
One reason why a lot of people hire mangers and not do the investing themselves is the fact that the world is filled with people who want to rob you of your money. There are a lot of con artists with schemes that seem picture perfect at first glance. Earn money in 6 months with minimum investment, everything will seem too good. One advice, check it out. If something seems to good to be true, it probably is.
Before you invest in something, make sure that you have done some background checks on the company running it. Looking at their websites or visiting their offices are not enough. You need to look thoroughly at every aspect of the company. Check the transactions that it has made over the years. The number of years that the company has been operating is a pretty good clue too. Stay away from new companies as much as you can. They may be operated by con artists.
3. Diversify
This is actually what most people in asset management do. Do you know the old saying “Don’t put all your eggs in one basket.” Heed that. Put your money in different business investments. That way, when something happens with one, you still have the other one.
4. Keep track of your assets
In the broad view, computer progams are in 3 main categories: (1) word Processing (2) Database and (3) Spreadsheet. Of these, Database and Spreadsheets work well for asset management. Database to keep track of what you have. Spreadsheet (recommended) to list what you have and be able to recalculate values, costs, etc.
5. World view
As of the late 1970’s or early 1980’s the world started to break down into two classes of people: (1) those who are computer literate and (2) those who are unemployed.
Think about that and where you stand in “The Big Picture.”
6. Avoid buying “on margin” and leveraging:
A big factor in the stock market crash of 1929 was buying “on margin.” This is a term meaning that a stock is bought on credit, where the buyer might put up 10% of the price and was actually taking out a loan for the other 90%. After the crash, the US Government passed new laws to limit this practice but it still happens.
Today there is another term, “Leveraging” which means that people use the equity in stocks they own (but may have bought on margin) as collateral for acquiring more stocks.
This is an extremely dangeous practice, especially for the small investor. If they do this, they are no longer risking “money they don’t need” but everything they have.
A true story: In Florida there was a “small” investor whose portfolio had reached a value of one million dollars. He was an active trader and the brokerage firm he was working through gave him his own office and computer setup. But he was leveraged to the hilt and didn’t really own much of anything. When “Black Monday” hit, the brokerage firm gave him a “margin call” of about $20,000. This meant he had to comeup with $20k to cover the full prices of stocks he had bought on margin. They must have known almost to the dollar how much cash he could get. Once he tapped himself out to pay the margin call, they glommed onto the cash and immediately hit him with another margin call which he couldn’t even begin to pay. So he realized that he was going to lose his entire protfolio and there was nothing he could do about it. He brought a gun into the Brokerage firm’s offices and shot as many of them as he could before he shot and killed himself.
It was discovered later that he had been a criminal and was part of the witness protection program. This illustrates the dangers of buying “on margin” and “leveraging.”
7. A saying:
There is a saying, “You make your money when you buy. Not when you sell.” This means that if you buy something cheap enought, you can’t fail to make money later when it appreciates and you decide to sell it.
Another idea is this: “It’s not money until you sell it. Until then, it is only marks on paper.” This is particularly true of stocks.
8. Stock market, if and when to get out
If the market starts to drop, you have 2 basic choices, get out or ride it out. Remember that if you decide to get out, sell orders are not executed until the end of the trading day. So, say, you see a trend you don’t like at 8:05 AM EST and give the “sell” order. During the day your stocks drop, say, 550 points. You will eat that entire loss because your sell order will be executed at the end of the day at the price of the stock at that time. Not at 8:05 AM EST at the price it was when you first gave the sell order.
A lot depends upon world news and how you think the market will do over a period of weeks or months rather than on a single day’s performance. If you are pretty sure there is going to be a long down trend, it is probably best to get out to stop the bleeding and then get back in when it bottoms out.
9. Watch out for signs of Market Wrecking:
Intentional Market Wrecking is done by rich and super-rich stock owners. It starts with the sale of some huge block of stock or portfolio. Such a sale will automatically start the entire market on a downward spiral. The original seller can stop selling after a 5 or 10 point drop, once momentum has been established. If a long term wrecking is decided upon, as in the 1929 crash, each time the market starts to rally, the rich and super-rich wreckers will sell short on other blocks of stock. Their resources are so great that they can keep doing this for years.
After a while, the frequency of attempted rallies will slow down as the market reaches a point of exhaustion. Margin buyers and those leveraged will be wiped out quite early in this process. Add bank failures, foreclosures on mortgages, massive unemployment and other related financial reverses and you can see how a long term depression can be created.
Why would someone do this? (1) because they can (2) this is a way the rich and super-rich can remind everyone of the power they wield (3) The people who start this will stop selling early and “ride out” the crash they have created. Once the market bottoms out they can start buying assets at bargain basement prices and the big losers in the crash are all the small investors. Think of this as “A harvesting of the turkeys.”
Remember the words of John D. Rockefeller: “There’s no such thing as an accident. If something happens, you can bet that somebody made it happen.”
The American love affair with Obama is OVER.
It was pretty short-lived, like a lot of relationships. Wild adulation for the first few weeks, then gradually, familiarity began to breed contempt. And then his true character.
Look at this laundry list of lies.
http://obama-arama.services.officelive.com/default.aspx
Do NOT allow ths person to become the Democratic nominee, because you can be sure all of this and MORE will be dredged up and he will be unelectable by November, unless the Republicans make a really stupid move. But just in case that does not happen, we need to be clear about who this person really is-an empty suit who will do anything he can for the sake of personal ambition.
We simply cannot afford another 4 years of Republican misrule. Clinton will hit the ground running, and keep on going. After all, they have tried to stop her in her tracks for how many YEARS now, let alone months, and FAILED.
We’ve all seen the headlines. These days, more and more people are living on a tight budget. While men and women alike enjoy shopping and appreciate having a nice wardrobe, they also want to be able to maintain some semblance of a budget in the process.
If you’re one of them, there are some tips that you should keep in mind when you head off shopping to expand and broaden your wardrobe.
Before purchasing a piece of clothing, try to think of at least two pieces that you already own that you can wear with it.
Don’t be haphazard with your purchases. You might see something on a shelf or rack and find it appealing, but if you don’t have anything that goes with it, it will just sit in your wardrobe. Avoid impulse purchases at all costs.
You might also consider shopping online to get some ideas as to how to mix and match your current wardrobe, with one or two all purpose pieces.
There is nothing worse than the impulse buy you regret, or the purchase that a salesperson talked you into.
While a particular item may be attractive, some items really do not enhance your wardrobe, or your appearance. hose skinny jeams may look great on someone who is skinny, but be realistic,”it may be the fashion, but if rolls of flab are sticking out from under your belly top you might want to go from something a bit more classic. Or at least do a few more sit ups and try to work off the love handles and muffin top.
When it comes to developing a wardrobe that is full of good value clothing you will be able to wear over and over again, it is important that the pieces that you select to include in your wardrobe compliment one another.
As you go about shopping and as you eye a piece of clothing on a store rack or shelf, don’t run off and purchase that piece unless you can be sure you have several things to match it, plus, it really is the bargain you think it is.
By shopping in a careful manner, you will be able to develop and create a truly fantastic and versatile wardrobe.
In addition to allowing you the ability to expand your wardrobe with compatible matching pieces, this manner of shopping also assists you saving money along the way. You end up avoiding impulse buying, and thus spending money on items that you will not be able to wear with any frequency because you do not have other items that match or compliment it. Or items that are so trendy they will be outdated soon, or so obvious that people will notice how often you wear it.
Remember, you can never go wrong with basic black, and a whole number of colors to go with it. But there is no need to buy a rainbow of color. The more simple your wardrobe, the better. It will also save you time in trying to decide what to wear every morning!
[NEEDS VERSUS WANTS]
To overcome impulse spending, the first thing to do is learn to separate your NEEDS from your WANTS.
Your budget will help you do this. Rent, electric, phone, paying your taxes, all of these are essential needs. Food, a modest amount on clothing and shoes which will help you hold down your job and keep money coming in, also NEEDS.
That designer handbag, great shoes, amazing jeans, well, sorry, those are NOT life’s essentials.
WE DESIRE WHAT WE SEE, AND SEE WHAT WE DESIRE
You are NOT entirely to blame. The whole of the ad industry is based on turning WANTS into perceived NEEDS.
Advertisers blitz us with their products at us 24/7. Perhaps you really DO need a new computer, for example. But don’t just say yes to the first as you see or the first salesman who comes along and tells you that you really NEED the model with the most expensive bells and whistles.
Or that you have to act now before the sale is over. Most of the time if there is a sale, it means it’s a slow month and they are trying to keep their numbers up!
SUCCESSFUL SHOPPING TIPS
The trick with shopping, even in a ‘sale’, is to give yourself a cooling-off period before you buy anything that you haven’t planned for or budgeted for. Especially if you have a credit card.
When you go shopping, make a list and stick to it. In particular, never go shopping in a supermarket when you are hungry. At the holidays, make your list, check it twice, and do not go overboard at the holidays and then have to keep on paying for it via your credit cards months after the fact.
When you do go shopping, take only enough cash to pay for what you have planned to buy, or use a debit card linked to your checking account.
Leave your credit cards at home. In fact, try to get rid of all your credit cards by paying them down, and then keep the one with the lowest APR for emergencies.
EMERGENCY, OR IMPULSE?
And be very strict about what qualifies as an emergency. For Carrie in Sex in the City it was the Manolo Blahnik Mary Janes. For me, it would be my dog’s surgery in January.
If you see something you think you really need, give yourself two weeks to decide if it is really something you need or something you can easily do without.
By following this simple solution, you will curb your impulse spending. Then you will mend your financial fences and your relationships, and be able to move forward toward your short and long terms goals aligned with your budget, and not constantly busting it.
Is your weakness impulse spending?
Answer these questions truthfully:
1.) Does your spouse or partner complain that you spend too much money?
2.) Are you surprised each month when your credit card bill arrives and you see how much more you charged than you thought you had?
3.) Do you have more shoes and clothes in your closet than you could ever possibly wear?
4.) Do you own every new gadget before it has time to collect dust on a retailer’s shelf?
5.) Do you buy things you didn’t know you wanted until you saw them on display in a store?
6.) Do you often wonder what happened to the money you had in your purse or wallet?
If you answered YES to any two of the above questions, chances are you’re an impulse spender and indulge yourself in retail therapy.
THE DANGERS OF IMPULSE SPENDING
Impulse spending is not a good thing. It will prevent you from saving for the important long term goals you really want, like a house, a new car, a vacation, or retirement.
YOUR FINANCIAL GOALS
Once you define your adult financial goals, you will have to set a budget and stick to it. Impulse spending is an enemy of any budget. It is pointless to sacrifice your long term goals for a bunch of short term ‘hits’. Your retail therapy doesn’t cure anything, you just end up spending money on items that really don’t matter in the overall scheme of things.
THE RISKS OF IMPULSE SPENDING
Impulse spending will not only put a strain on your finances, but your relationships as well. Arguments over money is touted as the number one reason for divorce in this country.
Continued in: Avoid Impulse Spending Part II
If you’re hosting a bridal shower, there are literally hundreds of games to choose from. Some are silly, some are serious, but all are about having some fun with the bride before she’s married. Here’s a sampling of ideas for bridal shower games.
One fun game really puts the bride on the spot with regard to her knowledge of her husband-to-be’s life. Prior to the party, have someone ask the groom a series of questions, such as where he was born, what his favorite food is, or similar personal questions.
Then at the bridal shower, put the bride on the spot by asking her the answers to the questions. See how many she can get right (hopefully at least half!). If she does well, give the girl a prize; she deserves one. If she doesn’t, she may want to brush up on her groom, quick!
One all-time favorite game is the toilet paper wedding dress. This game involves separating the guests into teams consisting of at least 2 people and no more than 5. Give each team a roll or toilet paper (or 2) and have them fashion a wedding dress out of the toilet paper. One of the team members will volunteer as the model.
Provide them with a “dress up trunk” filled with jewelry and shoes. They must make the dress out of the toilet paper, but they can accessorize with the provided jewelry, shoes, gloves and hats. Place a time limit on this (5 minutes is adequate) and have the bride vote on the best dress. Be sure to provide prizes for the winning team!
Another fun game that’s always a hit is making the bride get dressed while blindfolded. Tell the bride she is to pretend she’s on her honeymoon and the power has gone off. She must prepare for her wedding night in complete darkness. Provide her with a suitcase filled with items and then blindfold her. She must get dressed in a certain period of time (2 minutes is adequate) while completely blindfolded and with no help from the guests. Include some silly items like oversized sunglasses, garden gloves or a flannel nightgown just to make it fun. This is a photo opportunity, so be sure someone is waiting to record the end result!
Another fun game which puts the bridal shower guests more on the spot than the bride is the handbag game. Everyone puts their purses in the center of the room. Create a list of items commonly found in a purse and assign a point value. Then create a list of less common items and give them a higher point value. So you might give lipstick 2 points, a tampon 3 points, and sunglasses 5 points. But a granola bar could be 10 points and a staple remover 15 points.
Then go through the purses awarding points and give the person with the highest number of points (and therefore, the most items and probably highest number of unusual items) a prize.
Before the bridal shower, create bingo cards for this shower bingo game. In the squares, put pictures of items you think the bride will receive at the shower. So, boxes might include things like lingerie, towels and the like.
As the bride opens gifts, have people mark off that item on their bingo card. If nobody gets a “bingo”, give a prize to the person who marked off the most number of items.
Another bridal shower game is a derivation of a popular game often played at bachelorette parties involving a stripper. This is the clean version.
About 30 minutes into the party, have the bride leave the room and pass out pieces of paper. Have everyone write on the paper everything they can remember about the bride’s outfit, hair, etc. How many rings is she wearing? What color is her blouse? Is she wearing open or closed toed shoes? Once everyone is done recording their observations, the bride comes back into the room and a prize is awarded to the person with the best observation skills.
One thing is for sure, there are lots of games you can play at your bridal shower which will keep all of your guests engaged and involved, so it is not just all about opening presents and making small talk.
FURTHER READING:
