Financial Planning

by Brandon Seyl

Get Rich Slow: Why I Choose Wealth Building over Click Bait and Get Rich Schemes

A realistic approach to not only financial gains but life as a whole. Photo by Pixabay at pexels.com This post won’t end up on the trending list. I mean….come on….what a predictable, boring, and dull post. Do you already have it figured out? Be consistent and disciplined, and diversify your investing. BINGO. Okay, okay….please stick with me…I will rant a bit, then get to the value-added stuff. I decided to write this post because the internet is flooded with articles that don’t have the reader's best interest at heart. I can’t be the only one who notices this, but it persists. Here’s why. When I attended a few writing courses, the standard advice was always to write to your audience. Most people interested in finances are typically looking to INCREASE their net worth, so it’s not hard to identify the common motivator for finance readers. For example, for this post, I could have used a hook line like “How I Made $10,000 in Passive Income in 30 Days.” Most people would read that header and click on it. Why? It sparks curiosity; it leaves them with serious FOMO (Fear of Missing Out). Once you click, you are exactly where I want you to be. They aim to find ways to keep you on the page to generate more earnings for them. But let’s think about this…Why would someone write a blog post telling you how they make $10,000 a month? Wouldn’t that person rather keep making money? Since when did this world become so generous? Let’s be honest. You gain little to nothing every time you click on those articles. Please stop supporting these writers. Especially don’t let them influence your mindset. Rant over… In today’s blog post, I will discuss how investing isn’t just tied to money, the basic investment portfolio, and why you should focus on minimizing your spending. First and foremost, I don’t hold any financial accolades. I’m a regular dude who has been working in Information Technology for 13 years. My divorce was the catalyst for me spending the last two years gaining financial literacy. Yes, I lost half of my assets. It’s your classic “horror” story for men. But for me, it was a life development opportunity (LDO). Life forced me to figure it out, and that’s what I did, and I’m better because of it. I learned everything from budgeting to different retirement accounts to mutual vs. ETFs and Certificates of Deposits, etc. Here’s what I’ve learned along my journey. Photo by Pixabay at pexels.com #1: Investing Isn’t Just About $$ Health. Get up and exercise. The healthier you are, the more you save in healthcare costs. Quit putting bad food in your body. Buy groceries and make your own food, and you will be shocked at how impactful this lifestyle change is. Personal. What brings you joy? Learn a new skill. Piano? Dance? Spanish? Life is more than just working. Investing in your interests will expand your creativity, productivity, and overall satisfaction in life. Professional. Continuous learning and upskilling are KEY to staying relevant in a rapidly evolving job market. Spending $$ on courses, certifications, or networking is okay to boost your earning potential. Social. This is one area I let suffer. Don’t be me. Surround yourself with people who contribute to your emotional well-being and overall happiness. Disregard the people who are disrespectful or erode your peace. It would help if you had people by your side in life. Photo by Helena Lopes at pexels.com #2: Financial Investments Retirement Accounts. Company 401Ks and Roth IRAs are not sexy, but they work long-term. Pick an investment amount and automate your contributions. It’s better to start earlier in life, but if you didn’t, that’s okay — start now! Emergency Fund. Find a good High Yield Savings Account and contribute six months of life expenses. This is your Oh **** button. Index Funds (S&P500). If #1 & 2 are good and you still have money to invest, set up an automatic investment for S&P500. This includes the top 500 U.S. companies; on average, they have an ROI of 8% or higher. Dividends, Certificate of Deposits, & Bonds. Good options for passive steady income and outpacing inflation. Photo by Antoni Shkraba at pexels.com #3: Don’t Spend Money and Live Below Your Means There is little to say about this, so take this as a reminder. The less you spend, the more you have to invest/save. The more you invest/save, the more money you have working 24/7. #3 is my favorite. Find cheap hobbies. Make it your goal to spend the least amount of money you can per month. The better you are at #3 indicates meeting this BORING and DULL strategy. Consistent Disciplined Diversify Funds Photo by Yan Krukau at pexels.com Okay, if you have made it this far, thank you. I hope you found this to be simplistic and of value. Don’t stop here — let me know what you think in the comments. Happy reading, Brandon

by Brandon Seyl

Stop Spending!! [8 Practical Ways to Save Money]

I swear, whenever I leave the house, someone or something always wants another dollar from me. It’s a sad reality. Most of us work a 9–5 job, counting down the days until the family vacation at Grammy P’s. Eggs cost $14, clothes cost $35, and the phone bill costs $80. Rent prices are rising every second. It may be an exaggeration on my part, but it’s maddening and discouraging. My point is that so many things are trying to hold us down financially. Photo by Karolina Kaboompics at pexels.com If you’ve been pondering how to stretch your budget further, fret not! In a crazy world where expenses can pile up quickly, being mindful of where your money goes can make a difference. It’s a constant battle, so I’m here today to remind you of eight easy yet effective ways to grow your savings. But I want to encourage you to do more than follow these 8 steps. I would like you to focus on why you make your decisions and what you gain from them. Saving money is essential, but why are you doing it? Is it to become financially free? Is it to save for a much more considerable expense? Bottom line: Make conscious decisions when it comes to your financial future. Please post/share in the comments if you have other ways! 1. Meal Planning and Cooking at Home Eating out will quickly add up. We spend our lives between meals. If you think about it, food is something we will always need, so if we can tailor what we eat to healthy and affordable food, we will come out on the other end better. But seriously, what the heck is going on with food prices? For one person to eat, it costs nearly $10 — $15, and I’m not even talking about a high-quality restaurant. Once you spend that money…it’s gone. Your full belly will be gone and ready to eat again in a few hours. By taking the extra time to plan and prepare your meals at home you will save hundreds of dollars each month. Imagine saving $300 extra a month? You could invest that toward your education or into the S&P500. The choice is yours! Not a cooking guru? That’s okay. Websites like Budget Bytes and Mealtime offer delicious recipes that won’t break the bank, making home cooking affordable and enjoyable. Photo by Juan Pablo Serrano at pexels.com I’ve come to enjoy meal prepping. Turn on some tunes and have fun with it. Here are two of my healthy meal prep posts: Healthy Meal Prep: High Protein Chicken Fajita Burritos Are you trying to save money and eat healthy? This might be the recipe for you! long.sweet.pub My $150 Weekly Meal Plan with Printable Cards Planning healthy meals doesn’t require excessive time or money. long.sweet.pub 2. Use Coupons and Cashback Apps As a child, my mom would have my sister and I cut coupons for 1–2 hours every Sunday. It was miserable, and we used to make fun of our mom for being so cheap. Fast forward, she got the last laugh, and I must publicly announce that my mom was right. Coupons are the way to go. Luckily, we don’t have to cut coupons if we don’t want to physically. Apps such as Fetch, Ibotta, Rakuten, ReceiptJar, and Pogo make it effortless. My personal favorite is Fetch. It’s super easy…you take a picture of your receipt. You can also link your shopping apps to it so it can automatically sync your rewards. Think about it like this…you are going to spend money regardless. Why not get back a couple of dollars here and there? Most coupon apps provide gift card rewards from Amazon, Best Buy, etc. Photo by Pixabay at pexels.com Searching for deals before purchasing can lead to substantial savings over time. It’s a simple way to cut costs without sacrificing the things you love. 3. Review and Cut Subscriptions Take a critical look at your subscriptions — streaming services, magazines, or gym memberships. Are you utilizing all of them to their full potential? Cancel any subscriptions that you don’t need or use frequently. This straightforward action can save you a significant amount of money each month. Photo by William Choquette at pexels.com I had to cut my Amazon Prime membership. It was $14.99 a month, and I needed to utilize it, which meant spending more money. Cut the head of the snake! 4. Buy Second-Hand and Sell Unwanted Items One person’s trash is another person’s treasure. Whether it’s yard sales, garage sales, or platforms like eBay, Facebook Marketplace, and Poshmark, allow you to declutter your space while earning extra cash by selling items you no longer need. Shopping for gently-used items can save you money on everything from clothing to furniture. Photo by Markus Spiske at pexels.com Goodwill and local thrift stores are great places to find cheap and affordable clothing. Pro tip: Get a couple of neutral colors to mix and match. The less you have, the better. 5. Reduce Energy Consumption You don’t realize how much your energy bill costs because it’s a pleasurable part of today’s lifestyle. Automatic bill paying helps numb the pain, but if you look at your energy bill, you spend over $200 each month. Simple actions like turning off lights when not in use, unplugging appliances, and using energy-efficient bulbs can lead to noticeable savings on energy bills. Consider investing in a smart thermostat to regulate your home’s temperature efficiently. Energy.gov created an “Energy Save Guide” with a laundry list of things you can adjust/incorporate to save energy costs. One valuable item is weathering your house by sealing key areas. Photo by Burly Vinson at pexels.com Pro-tip: I turn my A/C off while I’m at work. This saves me 10–11 hours a day in savings. Is it hot when I open my door? Yes, but the house only takes 20 minutes to cool down, considering it’s the evening anyway. Oh, one last thing! Blackout curtains can help keep the temperature down. 6. Challenge Your Impulse Buys Before purchasing, ask yourself whether it’s a necessity or a fleeting desire. More importantly, remove yourself from the situation and establish a waiting period before buying non-essential items. This pause can help you differentiate between impulse purchases and items that genuinely add value to your life, potentially saving you money in the long run. Photo by Andrea Piacquadio at pexels.com It’s also easier to challenge impulse buys if you use cash for anything not budgeted. For example, you use your credit/debit card to pay for groceries, routine bills, etc., but you use money for any remaining items. There is a feeling of loss when you use cash vs. a card. 7. DIY Whenever Possible Yep! I know you knew this would be on the list. You can save so much money by doing home repairs and beauty treatments; consider tackling tasks yourself instead of hiring a professional. Websites like YouTube and DIY blogs provide plenty of tutorials to guide you through various projects. Photo by Bidvine at pexels.com Think of each issue as a new challenge. For example, my truck’s center console had an issue where it would no longer close. Toyota quoted me $500 for labor and repairs. You know what I did? I spent 3 hours on YouTube and $25 for some parts on eBay. Boom, problem solved, and I’m not a Tacoma center console expert. You can do it too. You have to weigh your options and make sure it’s worth 1) your time and 2) it saves you money. 8. Bank on Generic Brands I once was that punk kid who would only eat Captain Crunch cereal. Looking back, I wish someone would have punched me square in the face. Why? Because I cost my parents an extra $2 when we could have gotten a cheaper brand that tastes the same. Be smart and choose store brands over popular brands, as this will lead to substantial savings regarding groceries and household items. Most generic products offer the same quality as their pricier counterparts and typically provide more quantity. Small decisions add up. I’m proud of you for choosing to save money, whether you are living paycheck to paycheck or trying to maximize your investments/savings. When you start incorporating these eight strategies into your daily life, you will strengthen healthy financial habits that pave the way toward financial freedom. Don’t forget — every penny saved is a step closer to achieving your financial goals. Keep fighting the good fight. Stay frugal, stay savvy, and watch your savings soar! Happy Reading! Brandon

by Brandon Seyl

The Often Forgotten but Best Financial Investment You Can Make Now!

It’s no secret that people are obsessed with making money. I can’t blame them, as today, it’s less about greed and more about survival. Prices are soaring EVERYWHERE. Some people are working multiple jobs to make ends meet. Photo by Pixabay at pexels.com This is why we have been experiencing the “side hustle” trend everywhere you look — side hustle this, side hustle that, get rich quick, and so on. Like many of you, I wanted to learn how to be the best steward of my resources, so I read the following “Financial Literacy” books. 1. “Rich Dad Poor Dad” by Robert T. Kiyosaki2. “The Total Money Makeover” by Dave Ramsey3. “The Millionaire Next Door” by Thomas J. Stanley and William D. Danko4. “I Will Teach You to Be Rich” by Ramit Sethi5. “Your Money or Your Life” by Vicki Robin and Joe Dominguez6. “The Richest Man in Babylon” by George S. Clason7. “The Little Book of Common Sense Investing” by John C. Bogle8. “Money: Master the Game” by Tony Robbins9. “Think and Grow Rich” by Napoleon Hill10. “The Simple Path to Wealth” by JL Collins With each page, I read eagerly, hoping to gain profound wisdom on how to use money to work for me. Each book met my expectations and framed my approach toward investing. I even took Dave Ramsey’s Financial Peace University 9-week course to deepen my understanding. For those who don’t know, Dave Ramsey’s Baby Steps is a well-known financial framework that guides individuals to achieve economic stability and build wealth. Dave Ramsey’s framework consists of seven steps: 1. Save $1,000 in an emergency fund2. Pay off all debt (except the house) using the debt snowball3. Save 3 to 6 months of expenses in a fully funded emergency fund4. Invest 15% of your household income in retirement5. Save for your children’s college fund6. Pay off your home early7. Build wealth and give Photo by Karolina Kaboompics at pexels.com I learned so much from all the resources, but they all overlooked what I believe to be the most critical investment as I looked around at everyday life. The #1 investment you can make right now is…..your HEALTH! Is it as sexy as crypto or dropshipping? Nope. Does it come with risks and uncertainties? Not in a financial sense. You see — investing in your health is a tactic that yields numerous immediate and long-term benefits. Investing in your health is the best financial investment due to its numerous long-term benefits. Here is my main reason supported by research: 1. Reduced Healthcare Costs: Exercise, proper nutrition, and regular check-ups can significantly lower your risk of developing chronic diseases such as heart disease, diabetes, and obesity. According to a study by the American Heart Association, investing in preventive care and lifestyle changes can save an individual over $1,000 annually in healthcare costs. Avoiding expensive medical treatments and surgeries can also save substantial money over time. But Brandon, healthy food costs more…. Yes, you could easily buy frozen pizzas and processed food for convenience, but it will come at long-term and short-term costs. Photo by Mark Stebnicki at pexels.com In the short term, you will feel horrible after eating non-fresh food. Your body will feel lazy and lose any motivation to work. Thus, you will lose your most significant source of money creation. The long-term is simply that you will be at high risk for health-related issues that could have been prevented. Imagine yourself constantly having to get prescription medicine or weekly check-ups. The gas, the medical bills, etc., add up. How to invest in your health: Exercise 3–5 days a week at minimum. When I say exercise, I mean 45–60 minutes of moderate to high intensity. Sample workout: 1.5-mile run, 100 push-ups, 100 squats, and 100 sit-ups. Suppose you have time to complete jumping jacks, mountain climbers, etc. Photo by Andrea Piacquadio at pexels.com Eat Superfoods: (Any of the below items are a great source of vitamins and nutrients) 1. Blueberries2. Kale3. Salmon4. Avocado5. Quinoa6. Chia Seeds7. Greek Yogurt8. Almonds9. Spinach10. Turmeric11. Broccoli12. Sweet Potatoes13. Oats14. Green Tea15. Flaxseeds16. Walnuts17. Berries (strawberries, raspberries, etc.)18. Lentils19. Garlic20. Cinnamon Photo by Jane Trang Doan at pexels.com Okay, folks! Short & Sweet. In closing, your health is the #1 financial investment you can make. Let me know if you agree or disagree in the comments. Happy Reading! Brandon