Many people know I do debt consultation for the legions of minorities everyone else in society has given up on. I do this because I have strong beliefs that we as minorities are systematically set up to lose financially from birth. Many of you also know that as of right now, I do this for a little over 500 people and that with every single last one of those people, I charge them absolutelynothing. Again, its what I’m passionate about and have developed a ton of knowledge/know how on. If I don’t make the best out of what I’ve learned, then it really is a waste now isn’t it?
Still… none of this changes the fact that at the end of the day, I need to eat just like each one of you.
So then how exactly do I make my money you ask? How do I pay my bills? Read more…
No, really. Do you think that you’re special? Some kind of failed, Hancock-esque superhuman? Do you think you’re the only one on earth who is going through what you’re currently going through? Think you’re the only one who’s fallen for the deadly trap of credit and debt?
As we previously stated, our love for other personal finance blogs on the net is almost second to non. Below are some highlights from posts we found interesting recently:
In an interesting personal finance-esque article posted on a non personal finance site, ESPN explores the details surrounding the debts of New York Kick’s Eddy Curry. We still can’t believe the amount of money this man was/is bringing in and the type of loans he was “forced” to take out:
New York Knicks center Eddy Curry defaulted on a $570,000 personal loan while keeping up a lifestyle that included a $17,000-a-month suburban New York home, a $6,000-a-month personal chef and a dozen cars he’d bought for himself and relatives, a judge said.
On Friday, a Manhattan court ordered Curry to pay $75,000 a month to lender Allstar Capital Inc. to resolve a debt that swelled to$1.2 million with interest. The court also has issued an order letting Las Vegas-based Allstar seize three of the cars: a Rolls Royce Phantom convertible and two Land Rover SUVs, all 2009 models.
Lawyers for both Curry and Allstar said Monday they were headed toward a settlement that would make the order moot. They wouldn’t disclose terms. Curry’s lawyer, Mercedes Colvin, would say only that she believed the two sides had reached “a mutually satisfactory resolution of the matter.”
You know whats crazy? Did you know that pretty much every illegal immigrant that comes to this country is wealthier than you? Yeah…keep looking down at them if you want to but ask youself this question: Got Debt?
Bonus:
Did you also know that due to statute of limitations, most homeless people and vagrants are wealthier than you as well?
Many of us in the core age group on this site (25-35) take all of the great advice we get for granted, namely the free advice we have right in front of our faces. The advice about the mistakes our parents made.
In a great post at GetRichSlowly.org, the guest author of the post, Neal, provides some advice on what you can learn from your parent’s generation:
If you know someone in their fifties (or sixties), don’t be surprised when you discover they’re afraid. I’m 52, and I checked with everyone. They confirmed it. It’s true.
Y’all know the mortgage interest hustle, right? No? Well lets start with the tax deduction side of it first:
Broker: Mr. Jones, your $2,400 mortgage payment only feels like $1,500 because you get to write the mortgage interest paid off of your income every year!”
Jones: Your sure about that?
Broker: Ab-sa-tively. ‘Course, my boss tells me that I’m required to also refer you to your tax advisor for further information.
Jones: Good idea. Can we do a conference call with the four of us, including my wife tomorrow before we sign the loan docs?
“That major that she’s majorin in don’t make no money but she wont drop out her parents’ll look at her funny.”
Dumb Sh*t Major (noun) A specific major chosen to “speed through” college tenure and ensure graduating on time. However, the pursuer of such major pays the same amount of loan back as the pursuer of a “smart major” even though only the latter generates the funds to do so.
The vast majority of Americans have succumbed to the notion that you must do whatever it takes and pay whatever cost necessary in order to get a 4 year degree. Ever since we were kids we’ve been taught that unless you have a degree, then wealth is simply not an option for you, so Read more…
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