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February 05, 2015

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7 Mistakes The Middle Class Make With Their Money.

About half of Americans lived in middle-income households in 2014, according to Pew Research. This demographic includes families with incomes between $42,000 and $125,000. The middle class provides and consumes the bulk of services that keep society afloat, driving economic growth and investment with each purchase they make. Most middle-class families don’t have nearly enough saved to retire at age 65. Sometimes we don’t always make the smartest decisions with our money. Here are 7 money mistakes the middle class needs to stop making. 1. Racking up too much debt According to a recent study by the Federal Reserve Bank of Boston, 65% of credit card users carry a balance, which means they are paying interest each month. That money is literally flying out the window.
For middle-class Americans trying to get ahead financially, this can be a costly mistake. Remember, the average credit card interest rate is now over 15%!
2. Not increasing your retirement amount. It’s important to boost your retiremen…

15 Small Business Grants all Women Entrepreneurs Should Apply For.

1. The Eileen-Fisher Women-Owned Business Grant Female entrepreneurs who are in need of capital to expand a business can apply for the Eileen-Fisher Women-Owned Business Grant. Eileen-Fisher awards five women with grants up to $120,000. To be considered for this grant, yours must be a woman-owned company that promotes social and environmental change. Your business must have existed for at least three years, and you cannot have earned more than $1 million in annual profits.
2. FedEx Small Business Grant FedEx has demonstrated through its previous grant competitions that it is fair with its distribution of funds to women and men. To determine the winner, FedEx allows the public to vote for their favorite company in the competition. The winners with the most votes receive a $75,000 grant, and they receive free exposure through FedEx’s media outlets.

3. InnovateHER Grant The InnovateHER Challenge is sponsored by the Small Business Administration. This women-only grant allows budding entreprene…

The 10 cities where Black Families are doing the best economically.

Forbes Magazine’s list of cities where Black Families are doing the best economically.
10. San Antonio, Texas (tie) Median household income: $41,681 Home ownership rate: 40.8% Share who are self-employed: 9.3% Change in population, 2000-13: 43.3%
9. Richmond, Va. (tie) Median household income: $38,899 Home ownership rate: 47.8% Share who are self-employed: 12.7% Change in population, 2000-13: 17.9%
8. Miami, Fla. (tie) Median household income: $36,749 Home ownership rate: 44.9% Share who are self-employed: 11.2% Change in population, 2000-13: 32.4%

7. Orlando, Fla. Median household income: $33,982 Home ownership rate: 43.8% Share who are self-employed: 11% Change in population, 2000-13: 58.9%
6. Virginia Beach-Norfolk, Va. Median household income: $40,677 Home ownership rate: 43.8% Share who are self-employed: 13.2% Change in population, 2000-13: 34.6%
5. Charlotte, N.C. (tie) Median household income: $36,522 Home ownership rate: 43.9% Share who are self-employed: 13.6% Change in population, 2000-13: 14.8%
4. Balt…

This Is Why You Will Never Get Rich Working For An Hourly Wage.

We tend to think of hourly workers as someone who works at Walmart or flipping burgers, but the fact is a "salaried" worker, even a "high"paid one, is essentially working for an hourly wage.

For example, the average well-paid manager earns a base salary of $97,000. ~ but take out taxes and Social Security and their take home pay is only $66,076.51, which is an hourly pay of about $34.11.

$34.11 an hour.
Also unfortunately studies show that 70% of employees hate their jobs and are only there for the check. Miserable day in and day out, but they must remain on their job because they need the check to pay the debt that they have created.

I understand this all to well because I was once in this situation. We build our own debt prison so we must stay on that job we hate......that is until WE CHANGE OUR MINDSET.

I was able to resign from a job I hated, two years after I began to Change my Mindset, and I started to think as the wealthy think. It is definitely a process, an…

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