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MONEY KINGDOM FINANCIAL PERSPECTIVE: Be a planner

Do things happen to you or do you make things happen?  Trials surely come however, some of our trials are self created. Amen. So learn to be a planner. Make financial plans for major life events:

1) make retirement plans while you’re young, working and while it’s day

2) make plans for marriage prior to entering the union

3) make plans for having children prior to having them

4) make plans for educating those children prior to having them (which schools, in which neighborhoods)

5) and should you find yourself single again as a widow or through divorce, make a plans for that

6) make an end of life (estate planning, a will, hooked on a machine or no machines, organ donation, etc.

Think and do activities that demonstrate your freedom.

In Black Jesus’ Name and for His Fame, May I AM THAT I AM GOD prosper you.

#MKFP


 

MONEY KINGDOM FINANCIAL PERSPECTIVE: Purchases as Trade-offs

Be clear about how you think of money and how you spend it. Money doesn’t buy happiness, but it can certainly make you comfortable. Let’s consider the time it takes you to earn money. Let’s say you earn $15 an hour at your job, and you’re considering purchasing a TV for $500. You may calculate that it may take you about 35 hours, or about 5 days, to earn that money. You might think its worth it. However, this is not an accurate value estimate of your time spent earning the money.  You may actually spend about 50 hours or 8.5 full days earning the net income required to make the purchase. It still may be worth it, but consider there may be competing demands for that money, such as rent, mortgage and car payments, not to mention your retirement fund. Each purchase represents a trade-off so make money decisions wisely.

Think and do activities that demonstrate your freedom.

In Black Jesus’ Name and for His Fame, May I AM THAT I AM GOD prosper you.

#MKFP


 

MONEY KINGDOM FINANCIAL PERSPECTIVE: Fixing your relationship with money

Sometimes families or marriages need and seek counseling. Have you considered that you might need FINANCIAL counseling?  Do you need to fix your relationship with money? Your financial relationship is so hard-wired that, whether you experience a major setback or a huge windfall, ultimately you will find yourself back where you started. That’s why lottery winners are so often broke again in a few years. If your financial relationship is set for “Poverty,” any wealth that comes to you will be a memory before you know it. On the other hand, if your financial relationship is set for “Wealth” you will move through any financial reversals and regain (or exceed) your high level of prosperity.

Although your financial relationship was set in childhood, the good news is that it’s YOUR relationship now and you can adjust it for any level of prosperity you desire.

Ask yourself these questions:

•       Do I experience more scarcity and lack or wealth and abundance?
•       Am I a good money manager or does money “slip through my fingers?”
•       Do I work hard for my money or do I let my money work hard for me?
•       Does it seem that, no matter how much money comes in, I never enough?

A step towards fixing your financial relationship is to associate with positive, successful people. Birds of a feather flock together, right? So, spending time with like-minded people who encourage you to believe in your success and teach you how to think like a rich person are great ways to cultivate your financial relationship.

Are you ready to release any poverty consciousness you picked up along the way? Are you willing to consciously choose thoughts and actions that contribute to abundance and success? As you cultivate your financial relationship to allow in more money, you are at the same time raising your overall vibration to allow in more love, more joy, more health, more confidence, and more peace of mind.

Think and do activities that demonstrate your freedom.

In Black Jesus’ Name and for His Fame, May I AM THAT I AM GOD prosper you.

#MKFP


MONEY KINGDOM FINANCIAL PERSPECTIVE: Setting Goals

The most important financial principle is to spend less than you earn. No matter what else you do, you must do this if you want to achieve financial freedom. One of the easiest ways to achieve this is to automate your savings. The less work you have to do to save, the more likely you are to get it done.

Set financial goals. Everything starts with a goal. As in “Why do you want to save?” “What are you trying to accomplish with your money?” Without a goal, you are simply accumulating money without purpose and more likely to fail. The best goals are S.M.A.R.T (Specific, Measurable, Actionable, Realistic, and Timely), so include a dollar amount and a time frame to reach your financial goals.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.
#MKFP


 

MONEY KINGDOM FINANCIAL PERSPECTIVE: Wills and Trusts

They’re not just for the old. Think about and make a plan for yourself. A will is basically a simple document stating what you want to happen to your worldly property in the event of your passing. After you pass away, the will is used in public court in a process known as probate to make sure your wishes are handled fairly. A trust allows you to avoid probate and give directly to your loved ones. For most people, a will or trust are essential documents and vehicles – appoint an executor you trust and your stuff will go where you want it to go.

Wills and trusts are quite simple to set up, but you still should consult an attorney to make sure you’re following all of the procedures that apply in your state.

Key things to think about:

• Who should be the executor? It should be someone you trust deeply.
• Who should have my assets? Also, how should they be divided up?
• Who should have my personal heirlooms?
• Who would gain custody of my minor children? Talk this over with the people you have in mind and make sure they’re okay with it.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.
#MKFP


 

MONEY KINGDOM FINANCIAL PERSPECTIVE:  Four Ways You’re Throwing Money Away

1. Not buying refurbished electronics. Free yourself of the notion that refurbished electronics are rejects or failures. Any returned item gets labeled as refurbished. So, look into a good deal on perhaps a new-to-you iPhone or laptop.

2. Buying gift cards in store. You don’t know what to get your friend, but you know where they like to shop. Get your cards at gifcardgranny.com where you can purchase unwanted gift cards for over 50% off.

3. Not unplugging unused appliances. If you are leaving small appliances eternally plugged in (coffee maker, toaster), you’re wasting energy. Make efforts to unplug appliances you’re not using to lower your electric bill.

4. Overpaying for gas. Check out GasBuddy, the app that finds the lowest gas prices in your area and avoid the BlackTax.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

#MKFP


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Stock Market Tips for Beginner Investors

• Diversify. Invest in stocks from a variety of industries so that when one industry is having trouble, another one will be healthy.

• Watch valuations. If you overpay, even the best stock is no winner.

• Tune out the noise. Avoid checking prices and news on your stock every day. It will make you crazy and cause doubt.

• Invest for the long term. Don’t expect your stocks to increase in value immediately. Choose good stocks and hold for the long term.

Check out and research the following companies:

Microsoft (MSFT)
3M (MMM)
Aptose Biosciences (APTO)
Kratos Defense and Security Solutions (KTOS)

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

#MKFP


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : The Four Seasons of Financial Planning 

As winter comes to an end and we head into the spring/summer, a parallel can be drawn between the seasons of weather and the seasons of money. There are four financial seasons of life that include accumulation, preservation, distribution and succession. Approaching your finances with these four seasons in mind can help to keep you on track toward reaching your long-term financial goals.

“Accumulation” season is when you work hard, save, invest and grow. The “preservation” season is the time to protect your accumulation so you can count on it in retirement. The next season, “distribution,” is where you structure your finances to provide an income to last throughout your retirement years. The final financial season is “succession,” the time when what you’ve amassed is passed on to your heirs or loved ones, in the most tax efficient manner.

Understanding the four “financial seasons” of life can help define where you are today and the steps you will need to take in the future. Knowing specifically how to handle your money from “season to season” will determine whether you meet or exceed your long-term financial goals.

1) Accumulation Season – ages 20 to 55

Typically the longest financial season and time spent accumulating wealth and sets the foundation for your entire life. It’s important during this stage to set your financial goals and save and invest consistently. Take advantage of employer-sponsored retirement plans, open a brokerage account and work to keep unnecessary fees and taxes to a minimum.

2) Preservation Season – ages 55 to 65

During this time, it’s key to protect the money you’ve worked hard to accumulate. Typically, people who fall within this age bracket need to become more conservative with their investment dollars. Seek safer alternatives that still provide a rate of return. Look at your fee structure from investments in your portfolio and see where you can transition some of your more expensive investments to less expensive alternatives.

3) Distribution Season – ages 65+

Consider your tax liabilities in retirement and the order from which you withdraw from your retirement savings. Many people are blessed to have a 20 to 30 year retirement.

4) Succession Season – after your death

What do you want to happen to your savings and assets after your passing? Without proper planning, it can be eaten up by taxes and fees rather than given to your intended heirs. Your legacy will depend on how well you planned your finances in each of the previous seasons as well as what estate planning you have prepared in advance.

Each financial season builds on the one before it. By planning each season carefully, in advance, it can help you get the most out of your financial life.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Credit Scores

The author James Baldwin said it’s very expensive to be poor. We often pay more for everyday goods and services depending on where we live. In this age of predatory short term pay day loans and high interest credit cards we must be mindful of our credit. A few late payments to the mortgage company or a forgotten gas bill and, suddenly, your once stellar credit rating is wallowing in the mud.

We are all getting squeezed right now as the price of food, gas and everything else is way up and too many of us think that our credit limit on our cards is money. It’s not. It’s borrowed money that you have to pay back with interest.

Even a few missed payments can reduce your credit score substantially, making it harder to borrow money, what interest rate we get for car loans, what we pay for insurance, etc.

We don’t always understand the importance of our credit score. It raises the cost of the credit you qualify for and can keep us from getting low interest loans.

First and foremost, start making payments on time. Payment history constitutes 35% of your total credit score. If you don’t have money for a minimum payment by the due date, but will the following week, pay it next week. Don’t just double up your payment the next month, because that makes you 30 days late and that will drop your credit score.

Next comes the hard part. Pay off what you owe—and don’t incur any new debt.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Financial Fragility and Budgets

Most of us are financially fragile and would not be able to come up with $2,000 in 30 days without having to resort to borrowing money or pawning/selling items that we own. Ask yourself how easy would it be for you to come up with $2,000 to pay for a necessary car repair or home repair. Would you be able to take it from a savings account or would you have to put it on a credit card or borrow it from family? If it’s the latter, it’s time to take action. Here’s how:

  1. Don’t beat yourself up. While there are plenty of people out there who can be harshly judgmental, there’s not much to gain by playing the blame game. However, take responsibility for your situation, but don’t waste time and energy by dwelling on your mistakes. Shame will demotivate you faster than anything – focus on what you can learn and what you can do to fix the problem instead.
  2. If you don’t already have a budget, now is the time to start. Get in control of where your money is going, as soon as possible so that you can get yourself on firmer financial ground.

A few things to remember to make a successful budget:

Account for all of your expenses, including ones that only come up once a year or so, like car registration fees and holiday gifts.

Look for expenses you can trim or eliminate altogether. Even if you’ve been paying for them up to now, remember that you are financially vulnerable. This situation calls for some cutting back until you’ve got things under control.

Allow yourself an allowance to spend on miscellaneous personal expenses to keep this plan sustainable. This doesn’t have to be a huge amount. Many do just fine (depending on their financial circumstances) on having $20-$100 a week to blow on anything they wish.

More to follow next week.

 

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Debt as a Devil

 

As Copts, we don’t subscribe to or have a doctrine surrounding a devil. However, if there be such a creature or idea, consider debt as your devil and don’t allow the devil to linger around you. Develop your financial plan and start your journey toward being devil-free.

One approach worth considering to pay off the devil is where you list your debts smallest to largest regardless of the interest rate and attack the one with the highest interest rate.

Throw any excess cash at your devils. Whenever extra money falls your way and was not factored into your devil elimination plan originally, take that cash and use it to tackle the devil. Other ways to attack the devil would be to use a portion of your tax refund or selling any cars sitting around or clothes/jewelry at a consignment shop.

You have the power to free yourself. Give no place to the devil (“aka debt”) and strive to not create more devils.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Three Financial Tips for Children

Set your children off on the right financial path by teaching them these three important ideas. Start young — it’s important to broach the subject of money with kids at a young age. There’s no way to expect a child at any age to understand money unless you talk about it and the conversation can’t always center around money problems which can plant a negative idea of money and finance.

1). You earn money doing work. You’ll know your child is ready to learn what it means to work when they start nagging for money to buy things. Make sure your child recognizes that you’re using money to make purchases, usually around 3 years old, it’s time to teach them where that money comes from.

2). You Need to Budget If You Want to Buy Things

A lot of parents forget to explain to their children what they’re supposed to do with money once it’s earned. If no one teaches you what to do with it, you’ll grow up thinking it’s all meant to be spent.

3). Giving Back Is Just as Important as Saving for Yourself

If your child has an allowance train them that part of the money has to go toward a charitable organization. Coptic Nation Temple is a viable charity.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Ten Things To Do For Your Children Right Now 

(1) Talk honestly about your household finances

(2) Open an investment account (can be set it up as a trust)

(3) Get them a passport

(4) Start a college fund

(5) Start a savings account

(6) Get them a library card

(7) Check out books on coding or anything involving STEM (Science, Technology, Engineering, Math & the Arts)

(8) Get a life insurance policy

(9) Purchase direct stock for them

(10) Teach them about the stock market (knowing that the price of bread, milk, meat or gas is due to what’s happening in the stock market)

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Tax Refunds on Prepaid Card or Bank Account?

Getting your tax refund back on a prepaid card may sound convenient, but does it make financial sense?

For those without bank accounts, a prepaid debit card may be the fastest way to get an income tax refund. It’s an option offered by all the major tax preparers. But for those with bank accounts or who can wait a little longer, choosing to direct deposit into a checking or savings account or simply holding out for the traditional government check will save money.

Watch out for fees.

The biggest downside to receiving your income tax refund on a prepaid debit card are the various fees that come with the cards.

You have to pay to access your own money. You’re going to see your hard-earned tax refund nickeled and dimed to death with fees. Never pay to access your money and that includes getting cash from an ATM.

A prepaid card can feature an enrollment fee, a monthly maintenance fee, ATM withdrawal fees, ATM balance inquiry fees and a fee to convert the remaining balance into a bank check, among others.

If you have a bank account, there’s no advantage whatsoever to getting your tax refund on a prepaid card. You needlessly would give away some of your tax refund with the fees that come with these cards. Don’t do it.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : How Much Do I Need To Retire

Most middle-aged adults and soon-to-be retirees have the same question: How much do I need to retire?

We should consider this question at all ages and stages. There are no easy answers, nor is there a one-size-fits-all approach. Since how much you need for retirement is based on your specific needs and spending habits, your “number” will be vastly different from everyone else’s.

Consider, the “4 percent rule,” which is that you need enough saved to be able to meet your annual expenses in year one of retirement by withdrawing 4 percent of your nest egg. For example, if you need to generate from your savings $40,000 to cover a year of expenses, you’ll need to have $1 million saved for retirement ($1 million x 4% = $40,000).

We can reverse the math. Being able to withdraw 4 percent in a year means having 25 times your annual spending invested for retirement.

If you want $100,000 in annual spending, you’ll need a $2.5 million put away. If you cut your retirement spending in half, and live on $50,000, you’ll only need $1.25 million. Keep in mind that other sources of income, such as pensions and rental income, can reduce the amount of retirement income you’ll need from your investments.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Saving Money Is In! Use Your Refund Wisely

Saving money is in. Spending it like you’re not financially literate is out. If you get a tax refund this year and have outstanding debt, any kind of debt, the best use of that money is to pay the debt down or off. Here are some additional ways to use your refund:

  1. Invest in Your Retirement: Consider contributing at least 5 percent of your income to your Thrift Savings Plan, a traditional 401(k), or individual retirement account. Additionally, you should check to see if your employer provides 401 (k) matching for these kinds of accounts.
  2. Get Schooled: Submit you tax refund towards educational funds, whether it be a 529 Savings Plan for your kids’ education, or tuition for yourself.
  3. Save It: If you don’t have a savings account, now would be a great time to start one. Use your tax refund to build a small cushion, and supplement your savings on a monthly basis.
  4. Get Insurance: The recent uptick in natural disasters is a reminder, that it’s wise to get additional insurance for your home. For example, if you have homeowners insurance and no flood insurance, you put yourself at risk for financial ruin if your home is hit in a downpour. Use your refund towards the purchase of a policy that will keep you covered.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Let Your Refund Work For You

It’s tax time again. Here’s a reminder on a way to hold onto your lump sum and put it to work for you. Consider rolling your tax refund or a portion of into a CD (certificate of deposit). You can then use your CD as collateral to borrow money short term. Or in other words borrow from yourself while the CD continues to accrue interest. Check with your bank or credit union for their CD loan policies. Some banks allow you to borrow 80% of the value and some credit unions allow you to borrow 100%. The bonus of a CD loan is that some banking institutions do not require a credit check nor is the loan reflected on your credit. When you’re done paying back the short term loan, (walla) you’ll still have you’re money. Try this for home projects, vacations or tuition.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Living Wills and Advanced Directives 

Continuing the theme of getting your house in order by focusing on one task at a time, your family’s financial planning and overall planning can be established by February. Last week we highlighted trusts and wills. This week let’s consider living wills or advanced directives.

A living will, is a directive to physicians that lets people state their wishes for end-of-life medical care, in case they become unable to communicate their decisions. It has no power after death.

As much as we plan our living, we should be just as prepared in planning our end. Verbally stating your wishes is not enough. How many times have relatives fell out at the hospital and argued about an unconscious loved ones wishes? There’s a simple document you can sign that takes you through various questions that will ease the decision making of your family and allow your wishes to be carried out providing legal instructions of your preferences for medical care if you are unable to make decisions for yourself.

Advance directives provide choices for doctors and caregivers if you’re terminally ill, seriously injured, in a coma, in the late stages of dementia or near the end of life. By planning ahead, you can get the medical care you want, avoid unnecessary suffering and relieve caregivers of decision-making burdens during moments of crisis or grief. You also help reduce confusion or disagreement about the choices you would want people to make on your behalf.

Living wills aren’t just for older adults. Unexpected end-of-life situations can happen at any age, so it’s important for all adults to prepare these documents.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Trusts and Wills 

Continuing the theme of getting your house in order by focusing on one task at a time, your family’s financial footing can be established before February. Last week we highlighted life insurance. This week let’s consider trusts and wills.

Fact is, most Americans don’t have a will, let alone a revocable living trust which is a vehicle to transfer your assets (including a home, other real estate, automobiles, stocks, bonds, securities and the like) while living. Anyone who has dealt with the estate of a deceased family member who didn’t have solid plans in place will tell you how frustrating, time consuming, and expensive it is to get everything sorted out.

If you pass with no will or trust in place the courts will follow state law to distribute your assets—no matter what you may have once promised your sister or told your spouse. If you pass with only a will in place, the courts will have to give the document a stamp of approval before divvying up your estate. This is known as probate, and the cost of this unnecessary judicial step can eat up more than 5-10% of your estate’s value and ensnare your heirs for a year or longer in a legal tangle. Don’t give away your hard earned assets.

Create a revocable living trust.

A revocable living trust allows your heirs to avoid probate entirely and keeps you in complete control of your finances while you’re alive. You can always make changes to what’s in the trust and to how you’d ultimately like it managed or disbursed. When you pass, the person you designate as your trustee simply takes over and follows your wishes. Hiring an estate attorney to review your finances and set up a revocable living trust may cost $1,500 or more, though it can certainly be money well spent.

Have a will as well.

If a revocable living trust protects your major assets from probate, a will is where you carefully specify how you want your noninvestment possessions to be disbursed. Your great-grandma’s wedding ring, the heirloom piece of furniture, that cherished purse collection, pots or dishes —all of it should be itemized in a will. Please do your family a huge favor by being as detailed as possible. Even if your children love each other to pieces now, petty arguments can easily arise if you don’t have everything spelled out.

Next week, we will highlight a living will.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬

 


MONEY KINGDOM FINANCIAL PERSPECTIVE : Life Insurance 

It’s a New Year and the best time to get your house in order by setting some basic family financial plans in motion. If we focus on one task at a time, your family’s financial footing can be established by February.

Let’s start with life insurance. Ask yourself 3 questions: are you married? Do you have children or other dependents? Are you planning on marriage or children in the near future? If any of those have a “yes” answer, you shouldhave a life insurance policy of some sort. Life insurance really isn’t complicated. Shop around a little bit for a good policy and get one with a 20 or 30 year term (covering the period where you might have children under your roof).

How much should you get? Take the number of people in your household, multiply that by five, then multiply that by your annual salary. Let’s say you have a total of four people in your household, you make $40,000 a year, and you have a net worth of $100,000. Multiply the number of people in your house by five, giving you twenty, and multiply that by your annual salary, giving you $800,000, and subtract your net worth, giving you $700,000. That’s how much your term life insurance benefit should be.

That’s a good way to estimate and will give you a very strong number to ensure the security of your family over the long term.

Next week, we will highlight wills.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


ONEY KINGDOM FINANCIAL PERSPECTIVE : Year-end Financial Reflection

Consider your relationship with money and how you’ve used it. The point of this introspection is to try and understand your relationship with money and how you use it in your life – understand the areas where you’re weak, the areas where you’re strong, and how you can improve the weaknesses and leverage the strengths. This isn’t an easy process – in fact, it can be incredibly painful at times.

So, why reflect? It serves two purposes:

For one, many problems with spending too much or spending too little often come about as a result of some experiences in life or things that you’ve never been able to really think about.

Two, it reveals to you how deep and personal that connection is. Only a small minority of people have a relationship with money that’s healthy. Most see money as something distinct and separate from themselves. In truth, money is a representation of you – your work, your values, and the things that you love. When you cast it aside and make it separate from these things, it becomes abstract and valueless – and it’s often the source of a lot of money problems.

Reflection may help you make some difficult choices and changes in your life. Doing this exercise of where it all started can often help you realize how much impact those experiences shaped your relationship with money and urge you to do better in the coming year. Do it today, do it for yourself, do it for your family.

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Budget Like A Pro

Consider an all-cash diet. If you’re consistently overspending, this may break you out of that rut. This simple approach will allow you to see fully how much money you’re passing out. Try it for a couple of pay periods and you may surprised and inspired to slow down.

Take a daily Money Minute. Set aside one minute each day to check on financial transactions. This 60-second act helps identify problems immediately, keep track of goal progress—and set your spending tone for the rest of the day!

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Stocks In Place of Traditional Gifts 

Instead of buying toys and products for your children, consider purchasing stock.

Mattel (MAT) stock is trading at $26.25

Hasbro (HAS) stock is trading at $68.37

Sony (SNE) stock is trading at $24.34

Think and do activities that demonstrate your freedom.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬

 


MONEY KINGDOM FINANCIAL PERSPECTIVE : Financial Goals 

Any time that we want to change our financial picture, we need to start by setting financial goals. Many people look at the New Year as a good time to begin making changes and creating new financial habits. In order for our changes and goals to be successful, we should set goals with small attainable steps that will help us to achieve the goals we are setting. A good support system will help us reach our financial resolutions. We should also consider the ways we are sabotaging our financial success. It’s also important to take time throughout the year to monitor our progress towards reaching our goals.

Getting control of our budget is the first step in taking control of our finances. If we are not tracking our spending, and spending less than we earn, then we cannot achieve our financial goals. If we are struggling with sticking to a budget or if we have never had a budget, exercise basic goals and practices that will make budgeting easier and more effective such as deciding on how much to spend on food and entertainment and stick to it. A budget will make it easier to change our financial habits, because it will help us recognize the things we need to change.

Think and be free.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Credit Cards, Soft and Hard Inquiries 

 

I already know you’re going to go to the mall and when you make your transactions, you’ll be asked whether you want to apply for a store credit card. Store credit cards are essentially useless. Stick with the major cards like MasterCard, American Express and Discover which allow you to accumulate points for travel, cash back and other perks. Minimize unnecessary inquiries on your credit reporting by declining the store credit card. Know the differences between hard and soft credit inquiries.

What is a hard inquiry?

Hard inquiries generally occur when a financial institution, such as a lender or credit card issuer, checks your credit report when making a lending decision. They take place when you apply for a loan, credit card or mortgage, and you have to authorize them. Hard inquiries might lower your credit score by a few points and they may remain on your credit report for two years. As time passes, damage to your credit score usually decreases or disappears, often even before the hard inquiry falls off your credit report.

What is a soft inquiry?

Soft inquiries occur when a person or company checks your credit report as part of a background check. Examples include employer background checks, getting “pre-approved” for credit card offers, apartment rentals and checking your own credit score. A soft inquiry may occur without your permission. Soft inquiries may be recorded in your credit report, depending on the credit bureau, but they won’t affect your credit score.

One of the biggest misconceptions is that checking your own credit score will hurt your credit score. This is not the case. You can check your credit scores as often as you like without affecting your credit score negatively or decreasing your score.

Think and be free.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : The Poverty Mindset 

Debt is a form of the grave. Metaphors often refer to debt as being in a hole. Fellow Copts, let’s apply our anthem to this condition and proclaim that no grave will hold us down. As we draw closer to this season of consumption, please make sure your house is in financial order and free of the poverty (grave) mindset as defined below:

THE POVERTY MINDSET

 

Unnecessary spending. Conspicuous consumption. Spending money that you don’t have, to buy things that you don’t need, from people that don’t like you, to impress people that don’t know you, then when your bills are due, being forced to borrow money at high usury interest rates from people who red-line you, profile you, reject you and support a system that marginalizes you and don’t want to live next door to you.

Avoid a financial grave.

Get up. Be free.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


MONEY KINGDOM FINANCIAL PERSPECTIVE : Pay Yourself First. Always. 

 

This week’s MKFP is inspired by the Black Hedge Fund Group. Nearly half of all Americans say they cannot afford an unexpected $400 expense and nearly half of all Americans say $400 is too much if they had to come up with that amount in an unexpected emergency. 47% of those polled said they either wouldn’t be able to cover an unexpected $400 expense through savings or their credit card or would have to cover it by selling something or borrowing money.

See Federal Reserve Report:

http://www.federalreserve.gov/…/2014-report-economic-well-b…

We don’t have to live this way and change begins with you. Before anything or anyone else gets paid, pay yourself. Always.

Think. Do.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Something to this about. 

Something to think about. If a church or temple has been renting for ten to twenty years, just say the church is paying $1,000.00 a month. Let’s do the math. $1,000 x 12 = $12,000.00 per year. $12,000,00 x 10 $120,000,00 and $ 12,000.00 x 20 =$240,000.00. We all have to start somewhere but here is the problem : you mean to tell me that I AM can’t give the church a place you all can call your own? And then you say WHAT’S TOO HARD FOR GOD!! Well it look like a place you can call your own.

And you wonder way I teach I AM God money kingdom freedom. Wake up and build your family!! And stop giving all your money to preachers who don’t know what they are doing!

 


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Entrepreneurship 

This links up with a MKFP post not so long discussing integrity. We can all agree to the command “do what’s right!” The 1989 movie penned it as “Do the Right Thing”. Some may think this is reserved only for how we deal with one another when it’s actually a universal concept we can apply to every situation.

How many times have you enlisted the services of some “jack of all trades” and learned that they are unable to provide you with a basic invoice, receipt, timetable for completion of services, a warranty or a guarantee? Family, we can and we should do better.

There are tons of talents and enterprises all over our community yet, basic business practices like invoicing and receipts are not the norm for many of our small businesses and sole proprietors.

I was chatting with an enterprising Princess who is embarking on what is quickly becoming a successful catering business and we are so proud. The Princess already has a name for the business, has created a FB page, printed and distributed business cards and has been taking orders. However, there are some steps she’s skipped that need addressing immediately:

Register your business.
Most entrepreneurs understand the importance of a business name to their branding. New business owners spend sleepless nights brainstorming the perfect name. But after you’ve picked a name, what’s the next step to making sure everything is legal? The most important reason to register your business name is because that’s the law. The other key reason to register a business’ name is to prevent anyone else from using it. After you’ve spent time building your brand, the last thing you want is someone else to come into the market and start using the same or a very similar name. Also, registering your business will provide insulation from lawsuits.
Insure your business.

As a homebased business owner, two types of insurance are needed: liability and property damage. Liability protects against someone getting injured on your premises or by one of your products. Property damage protects against damage to a host of things including appliances supplies. Cover your assets and take steps to protect yourself from losses.

Charge taxes for your products. As a small business this Princess will be able to write off her kitchen, certain appliances, supplies, gas, mileage on her vehicle, and even her actual vehicle. She must save all her receipts for tax time. In addition, she can apply sales tax to her products which she will remit to the state at tax time. If you sell a physical product that would be considered a taxable good in retail, you’re required to collect sales tax from the buyer. Do not think small minded as in, “I don’t want to pay taxes because I need all the money — wrong thinking and you’re bigger than this. Operating “under the radar” does not give you a leg up and will have you missing out on all the money saving deductions that operators of small businesses and sole proprietors enjoy.

We have million and billion dollar ideas in our community and we miss out on establishing and reaping our blessings often because we are hesitant to (or perhaps lazy) do what’s right.

There is a system in place and we can work it in our favor or remain unknown operating in the margins for little return. Imagine if 10 yr old entrepreneur Mikhaila Ulmer (see link below) went the “under the radar” route? The success and investment of her lemonade company would not be manifested.

We must learn to apply “do what’s right” in ALL things. We’ll find a blessing in our endeavors because when you start right, you’ll finish right.

http://www.blackenterprise.com/…/ten-yr-old-gets-60000-inv…/

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬

 


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Overcoming Procrastination

Delaying even a small task or issue can most times result in a big expensive problem or project. Kicking the can or putting off until later can sometimes result in very expensive lessons. Procrastination costs — big time.

We’ve all done it: Put off something until tomorrow that could have been done today. Habitual procrastinators will readily testify to all the lost opportunities, missed deadlines, and even monetary losses incurred just because of the one bad habit of putting things off until it’s often too late.

Home or auto repairs. Your home is full of things that break: Shingles blow off a roof, a bathroom drain springs a leak, a kitchen tile gets cracked, your car needs routine maintenance. If you don’t fix or address these now, you may be looking at major repair bills later.

Routine tasks. Too tired to look up your checking account balance? Didn’t feel like looking for a stamp for that one bill you need to mail? Don’t be surprised if you trigger a bounced check or late fee. Having something shut off and then paying to have it turned on is costly.

Home organization. Clutter takes many forms: stacks of paper or ripped envelopes, “miscellaneous” junk drawers, overflowing closets. If you can’t find it when you need it, you’ll waste time and money replacing it.

Retirement planning. Starting young makes retirement planning (and saving) easier. In your twenties or thirties it’s easy to think retirement is too far in the future to consider. In your forties and fifties, it seems like it might already be too late. Putting off planning for your later years will result in negative consequences when it comes time to actually retirement.

Managing big expenses. You can’t watch TV or listen to the radio without seeing/hearing an ad reminding you to compare insurance rates or refinance your mortgage. If you haven’t done so within the last year, you could be spending hundreds of dollars needlessly.

We’ve all put off tasks at one time or another. Whatever the reason, there are ways to overcome the desire to procrastinate.

Know that:
(1) No task gets better with time. Whether it’s a messy closet or a leaky roof, the problem causes won’t go away. In fact, they get bigger, so the sooner you attack it the easier the job will be.

(2) No one is born this way. Sadly, some of us have made it a habit. But that doesn’t mean we’re cosmically predestined to always procrastinate. You can overcome procrastination and it’s unnecessary (often expensive) costs—it’s just a matter of starting now.

Learn to deal with and address problems when they present themselves.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬

 


 

MONEY KINGDOM FINANCIAL PERSPECTIVE : Financial Irresponsibility

There is an integrity and character demonstrated in how you deal with your debts. Some people freely incur debts with no thought on how they’ll be paid. Your money habits (aka credit worthiness) are an indicator of how you deal with debt. Strive to do what’s right in everything you do particularly concerning your finances.

First, change your money habits, thoughts and actions. To overcome financial irresponsibility, you need to make a fresh start and commit to not taking on any new debt today and pay the debt you create. I repeat, pay the debt you create.

Once you take responsibility for your role in the ways your money is managed, you’re empowered and can create change. If you’re always blaming something or someone else for the state of your finances or your inability to pay debts, then you’ll always be a victim. You’ll be unable to create the level of financial integrity and abundance you desire unless you accept responsibility.

If I didn’t change the way I approached money, educated and empowered myself to make smarter money choices, I was destined to repeat the same patterns again and again and again…

Let your word be your bond and polish up your financial character for debts both public and private.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬

 


 

Money Kingdom Financial Perspective : Real Estate Improvements

Let’s consider how to apply the miracle of the Resurrection beyond our Spirit. What’s the difference between a nice neighborhood and one that’s not? The same buildings are north and south of the city; however, the inherent value of real estate is considerably lower south of Madison. The one thing we all can do is change how we feel about where we live.

The change in weather means home and building improvements. Consider enhancing your curb appeal. Open the windows and let the light in. Walk around your property and note what needs addressing inside and out. Organize the projects from most costly to the least. Get estimates over the next few weeks and DO them.

Bring new life into your surroundings. Keeping your real estate investment healthy is key. Keeping it valuable is most important.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬

 


 

Money Kingdom Financial Perspective : Saving Money

Exercise a full understanding of what it means to save money. Most ads boast save money and shop here. That can be an oxymoron. You can save a lot of money by NOT shopping at all. Make sure your purchases are deliberate so that you can avoid spending unwisely. For example, it’s now the end of winter. Parents with small children can purchase deeply discounted (and high end) winter coats or school supplies so that come August and September you’re ready.

1). Shop wisely. Have a list of items you need when you go into a store and don’t buy on impulse.

2). Pay cash. Don’t use a credit card. Follow this simple rule: If you don’t have the money, don’t buy it.

3. Keep your money in the bank and don’t carry too much with you or have too much in your apartment/home. You will be less tempted to spend it if it isn’t so available.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬

 


 

Money Kingdom Financial Perspective: Empire and Stocks

Many of you have enjoyed watching Cookie’s antics every week on the show Empire. While you were watching, the term IPO was mentioned at least once every episode. An IPO or initial public offering is the first sale of stock by a company to the public giving those who purchase a portion of ownership. I pray that you not only already know what that is, but that you’ve taken time to analyze the market and be mindful of emerging companies going public for you to invest. If you’re new to the market, consider investing in penny stocks. These are companies whose shares are valued between $1 – $5.

 

Here a few penny stocks to track:

Genetic Technologies Ltd. (Nasdaq: GENE) shares are up 93% year to date. The Australia-based company offers a range of genetic tests for breast, ovarian, bowel, uterine, and prostate cancer, as well as neurological diseases. Shares began the year at $0.40 and ended Friday at $3.88.

Miller Energy Resources Inc. (NYSE: MILL) shares are up 65% year to date. Based in Knoxville, Tenn., Miller is an independent exploration and production company that explores for, develops, and operates oil and gas wells in south-central Alaska. Shares started 2015 at $1.27 and finished Friday at $0.87; down from $2.02 in February.

PostRock Energy Corp. (Nasdaq: PSTR) shares have gained 60% year to date. Based in Oklahoma City, PostRock is an independent oil and gas company engaged in the acquisition, exploration, development, production, and gathering of crude oil and natural gas. Earnings grew 78.52% last year. Shares closed at $2.85 on Friday.

Every week we saw the journey of Empire moving from a private to a public company. Like the fictional Empire, take time to build YOUR real empire. So, the next time you get with your friends to discuss in detail an episode of Empire and what Cookie said, what Cookie wore or what Cookie did, be sure to include a money principle, stock or market tip so that we can all build our empire.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

‪#‎MKFP‬

 


 

Money Kingdom Financial Perspective : The Coptic Diet

What is the Coptic diet? Do you know? As we elevate spiritually certain things, activities, tastes and cravings do fall away. However, in all things we say, moderation. As Copts we know that all sickness is not unto death however, many of us are an illness away from financial death or ruin. Illness costs money, time, energy, missed opportunities, and result in high medical bills. We can avoid many illnesses by respecting our bodies, using common sense and the tools introduced to us in the School of Wisdom.

Don’t let the one time you have coconut water be when the Priest is blessing them on a Friday night. Incorporate them into your diet. Our founder Cicero Patterson and Mother Rebekah healed numerous from disease and sickness administering coconut water and they are available at the grocery store.

Take your daily ounce of sweet oil to help your skin, internal organs and digestion. Sweet oil also keeps away arthritis. Nibble on fresh ginger to help your memory. Consume a glass of water first thing every morning. Exercise (walk, dance) 3-5 times a week. Eat fresh fruit and vegetables, daily. Always choose fresh or frozen and avoid canned. Get plenty of rest, and do not use harmful substances.

Remember, YOU are your most important resource and a long debilitating illness can devastate you financially. So stay healthy.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.

 


 

Money Kingdom Financial Perspective : Financial Portfolios

What is a financial portfolio? In simple terms, the word portfolio is used to describe a collection of things. It can be art, stocks, bonds, real estate properties, or precious metals. Our job is to build an investment portfolio that meets our needs, fits our situations and consists of assets we understand. Typically, you can begin a portfolio the moment you are hired at your first real job. Some people begin by opening an account with a mutual fund company, such as Vanguard, Charles Schwab or Fidelity. The single most important part of your financial life is knowing what you have and where it is. Sit down, take out a pen, and make a list of everything you own (e.g., assets such as cars, stocks, bonds, mutual funds, cash, bank accounts) and everything you owe (e.g., liabilities such as student loans, credit card balances.) Be brutally honest (makes no sense to lie to yourself) – don’t keep anything off the list.

The key to changing your financial life is to determine exactly where you stand now, in this moment in time.

This has been our money kingdom financial perspective.

May I AM THAT I AM GOD prosper you.