Takes money to make money: The Formula for getting rich (the one that works)

top of the mountainThe Formula for getting rich is NOT about compound interest, internet business, multi-level marketing, FOREX trading, stock options, real estate, mutual funds or starting a business. Getting rich through saving and “the magic of compound interest” would take ages. Internet business is not for everyone. MLM (multi-level marketing) is a scam. FOREX trading is more about chance than about skill. Real estate requires a huge up-fron investment. And starting a business has less than 5% success rate.

Yet there are rich people in all those fields. There are real estate millionaires and guys who made fortunes off FOREX. But you can’t wrap your head around how they made it, exactly. Did someone help them? Or was it just the plain old “hard work and a little luck?”

Well, the truth is, it doesn’t matter which path you choose. All that matters is how prepared you are when you set foot on your path of choice. So actually, it doesn’t really matter whether you choose real estate or business or FOREX trading. All that matters is how you’ve lined up your pawns.

Here’s what I mean.

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5 Things Nobody Tells You About Being Poor

This AWESOME piece of writing is by John Cheese, originally publiched on cracked.com.

#5. You Get Charged for Using Your Own Money

McDonalds jobs…Let’s say you’re running late for work and hurriedly stop to get gas, paying with a bank card. In your haste you forget to write the $55 down (gas being $4 a gallon, you know). So while you spent the last week until payday thinking you had $50 in your account to absorb minor purchases, you actually were $5 in the red.

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Should I quit my job and start a business? (No)

dark early morningYou shouldn’t “should” anything.

After I googled “should I start a business,” it felt like the whole internet was trying to persuade me that indeed I should; that whatever job I had couldn’t possibly be better than running my own business, and that if I wasn’t working on a start-up already then obviously I had to “stop making excuses.”

My husband and I like the idea of having our own business one day. But currently, starting a business right now is not a good idea. We don’t have the money, and with a baby girl coming in Jan 2014, we’ll have a lot on our plate. We just recently got married (planned a wedding in three months which definitely soaked up all our energy during that time) and we’re still finishing up our apartment remodel. Don’t anyone dare tell me that we “should” be working on a startup or that if we’re not, we’re “making excuses.”

And what about you?

Read moreShould I quit my job and start a business? (No)

Budgeting for bingo: Knowing when to stop whether you’re winning or losing

This is a guest post by Angela Stevens. Angela is retired at 61 but takes on the occasional freelance writing gig. She’s been getting herself some guilt-free fun each Thursday at the Bingo hall for the past 13 years, and loves to read up on the Bingo business.

It may be cheap entertainment, but it’s still important to keep an eye on your bingo spending

bingoForMoney Bingo has been enjoying a surge in popularity of late. Both brick-and-mortar halls and online bingo games are starting to play nice in their own respective niches. And the game is even starting to shed its “game for little old ladies” (giggle!) image thanks to bingo variants like Musical Bingo that are proving to be popular among the younger set.

As Bingo! The Documentary shows, there are people out there who want to live the bingo dream – that is, hitting a huge jackpot and becoming rich. Don’t we all? This applies to both the old school bingo hall regulars like myself and the younger foxybingo gamer generation. )

Read moreBudgeting for bingo: Knowing when to stop whether you’re winning or losing

Racism and business? Restaurant owner saved business by keeping blacks away

This is a story I found on reddit.com . It’s so fascinating that I just had to share it with you guys.

Original link: http://www.reddit.com

reddit_logoI’ll get it out of the way and admit that what I am doing is racist, I myself am (reluctantly!) a racist, and I’m not about to argue that. I’m not proud of this, but I did what I had to to stay afloat for the sake of my family and my employees and I would do it again.

I own a family restaurant that competes with large chains like Applebee’s, Chili’s, and other similarly awful places. I started this restaurant over 20 years ago, my wife is our manager*, both of my kids work here when they’re not in college. Our whole life is tied up in this place, and while it’s a ton of hard work, we love it.

Read moreRacism and business? Restaurant owner saved business by keeping blacks away