I’m sure most of you reading this have had experiences in your life where lack of money, student credit card debt or having to work made you miss out on something. If so please comment and share your story!

Here is mine - I remember back in the day missing out on a Santa Barbara party / road trip because I had to work that day; I needed the money. All my friends got together this summer and were talking about the wild time they had that weekend and they were messing with me - 12 years - later because I missed out on that experience.

Even more heartbreaking, I spoke with a 78 year old woman in Missouri - her life dream was to visit the town in Sweden where her parents were from and she cannot afford to go. She missed being able to retire young and probably will never be able to retire. Unfortunately, from the latest reports this is what most peoples future will be.

People are living pay check to pay check, runaway personal debt, retirement shortage, and most importantly people are missing out on the fun experiences life has to offer because they don’t have young money. Young money allows you to enjoy al that life has to offer.

IT DOESN’T HAVE TO BE THIS WAY!

Don’t let those other people fool you, this money stuff isn’t that hard. Financial education is the key. They want you to believe it is; but in realty there are just simple basic lessons that separate the people that are able to fully enjoy life from those that are in a constant struggle. I understand because I personally I experienced both sides of the coin.

If you’re like most, you never were taught financial education or how to be a young entrepreneur in school. Instead you memorized the periodic table of the elements and were able to figure out how fast ‘train A’ was traveling away from ‘train B’. If you’re like me, you never needed to know how many atoms are in the element ‘lutetium’; however ‘money’ affects us everyday. Will a young entrepreneur ever use this information?

You owe it to yourself to get a practical financial education that will truly make a difference in your life. Start that business you always dreamed of and be that young entrepreneur. I promise – financial education is easier than any class you have ever taken plus it’s something you will use everyday of your life.

All the best!! Vince Shorb

Money Lessons We Can Learn from Britney Spears

Going from ‘just getting by’ to ‘getting whatever you want’ young money impacts people differently. It can be a bad thing if you do not have your mind in the right state. Take a look Britney Spears and the situations that many young celebrities find themselves in. They have all the money they need but without the right mindset they quickly find themselves in trouble.

Young money without financial education and life education can be disastrous. This is especially evident with Britney Spears.

Some people think she had it easy and never had to worry about the problems that most young people go through like student credit card debt, striving to retire young and finding love. Many think she has enough money that everything else in her life can be bought. But being in the public eye and having all her mistakes are on the front page for everyone to see can be a lot harder. How would you feel if every time you messed up that everyone knew about it?

There is a young money lesson to learn from Britney. This lesson will improve every aspect of your life and make you a better person. Once you master this young money secret you will begin to grow your wealth faster so you can retire young. This critical lesson is called ‘empathy’.

I am shocked at how many people poke fun at and rag on Britney Spears. She has a mental disease. Would you make fun of her if she had cancer, if she was blind or was in a wheel chair? Of course not! It’s important for everyone to understand a mental illness is a physical condition that you don’t have any control over. It’s a disease just like any other.

The next time you see her on the news pray for her. If someone around you is making fun of her do your part and explain she has an illness. And the next time you see her on the cover tabloid with don’t buy it.

Now for the young money lesson. Empathy is a key skill to develop that will improve your ability to motivate and inspire people on your ideas or belief. Empathy is defined as understanding another person’s feelings by remembering or imagining being in a similar situation.

Once you understand where someone is coming from then you can motivate them with what they are feeling. Understanding where someone is coming from will help you relate better to your friends, family and loved ones. You will avoid a lot of conflict and can ethically persuade people to your way of thinking.

This is a key skill in the work environment as well especially for sales people, entrepreneurs and managers. Developing the skill of empathy will help everyone be a better person, make more money and live a happier life.

In spirit. Vince Shorb

It’s the holiday season for many and often during this time of year we are reminded to show our gratitude. That’s a great thing so go with those feelings; however it’s important you do that the other 11 months as well.

No matter how much or how little you have, by experiencing the feeling of gratitude it will get you into a wealth attraction state. If you have watched the movie “The Secret” you understand how important just subtle shifts of thought will help you achieve whatever results you want in life.

I know sometimes it’s easier to believe that the grass is greener on the other side. However instead of wishing for more, be grateful with what you’ve got because there are a lot of people have survived on a lot less!.

I just received this letter from a friend of mine in the Philippines.

“Thank you for your reply and concern, please tell me what best for me or any advice or help you can offer will be appreciated deeply. Right now I am still single I’m already 30 yrs old, planning to get married next January 08 or maybe this month. I just want to give a better life with my future Family. To have your own house, food and education for your kids. I don’t know much of my future, I just laid some plan a, plan b, plan c and plan d, incase it don’t work for me.”

All he wants is an opportunity to have the opportunity we have in America. Remember that over 30% of the world’s population lives on less than $2 per day. That’s $60 per month, or just $720 per year!

You may not have everything you ‘want’ in life. But if you are eating, sheltered and clothed, you have your “needs” covered, and have plenty to be grateful about.

Cultivate the feeling of gratitude, because the more grateful you are, the more money will come your way, the more people you can help and the happier you will be.

In Spirit! Vince Shorb

Define what financial freedom and financial security mean to you.

Everyone has their own definition of financial freedom and financial security . Define what It means to you. The one thing many people that have achieved financial security find is that their relationship with money is more or less “balanced.” Their focus in life is not on the money, but on living life. So their focus is not on the trappings of money, but on life’s goals.

The ultimate focus of living financially free is doing the things you are passionate about. The freedom to live the life you want to, whether it’s playing beach volleyball everyday, spending more time with the people you love or surfing all over the world. Not having to worry about money allows you to be who you want to be.

Warren Buffet has billions of dollars, for instance, but he lives in the same house that he bought for about $30,000 in the 1950’s! This guy is worth billions yet he lives very modestly. Why would he do that? Living in that house in Omaha suits him and his wife, so why upgrade? He could live in a palace if he wanted, but that is not one of his values in life. He does with his money what makes him and his family happiest. He is living his dream and if a mansion isn’t important to him great. But since he is completely financially secure and can afford whatever he wants if he does decide to buy a huge house – he can.

In contrast, look at Donald Trump or Diddy. Obviously they like the finer things in life and the bling to go along with it. Each to their own, as we all live our lives according to what is important to us.

The best part about life in America – It’s your choice. How do you want to live your life. How much money will make you feel financially free and financially secure. It’s a personal question you need to answer for yourself. Once you figure that out figure out a way to make that dream a reality.

All the best! Vince Shorb

The list of the most common money traps continued -Teenage parenting advice online.

How you treat money
Because of the lack of financial education many treat money differently. Moneys …. money right? You have $50 in savings and $50 from your great aunt for your birthday. Why is it easier to spend the $50 that was a gift? Money is money. Will you go out of your way to save $2 for lunch, but pay an extra $2 on a DVD player? We tend to track money in categories, and it makes for some interesting decisions.

The Jonses
Its all about keeping up with the Jonses…many people see their friend with a brand new car and they want one no matter how deep in debt it will put them. (As a side note never buy a new car…a $40,000 becomes a $30,000 car when you drive off the lot…would you throw away $10,000?) Here’s an example. You see the latest iPod in your friend’s pocket and suddenly you want a new one, too. Don’t - not until you think it through. Managing money and kids can mame you want to just blow through these decisions but don’t. Think to yourself - Can you afford to spend that money right now? Would you rather spend that money on something else? Try to avoid jumping head first into rash decisions. Through making smart money decisions you are leading by example. Your friends will benefit financially and respect you because you’re positioning yourself as the person in the group that is the money leader.

Decision making
It is true that the more choices you have, the easier it is to do nothing at all. It is what I call paralysis by over-analysis. Sometimes we just fear making the wrong decision. At other times it seems so complicated that we give up and make no decision at all. That’s a bad idea.

Think back to when you stumble upon a good sale price for something you have been considering purchasing. For instance, you researched one manufacturer of DVD players, and when it’s on sale, you go to pick it up. Right next to it is a brand you are not quite sure of. Both are on sale, so they are both good choices, but the brand you don’t know is cheaper. For most of us, this makes it hard to make a quick decision.

The tendency to fall into indecision comes into play when it comes to investing, too. The problem is that putting off financial decisions - ones that are considerably bigger than selecting a DVD player - can make you miss great opportunities. Worse, you can lose valuable time, and time is your best friend when it comes to investing your money and having it work for you.

Unnecessary risks
As you will learn later, taking a risk after researching everything that might go wrong, and being ready to accept that risk, can be OK; however taking dumb risks can lead to major financial pitfalls. I’ve taken my fair share of dumb risks, too, and sometimes I had to pay the consequences. Managing money and kids can be challenging but do take this teenage parenting advice online and talk to them about the risk facing today’s teenager – DUI’s, car accidents, pregnancy and other challenges that can cost them a lot of financial hardships.

Overconfidence
Most people think they have better knowledge about money management and investing than they actually do. This is especially true after hey experienced success in making money. As we saw with the stock and real estate boom it was easy money for a while. That makes uneducated investors think they have it wired. When things turn around however many people go back to FEAR mode and freeze. They are hesitant to ask for help, and because of that they make mistakes.

Low Confidence
The polar opposite of being cocky is being shy about financial matters and managing money and kids and your wealth. Since they don’t teach financial education in high school or college it is important you learn form somewhere. Books, seminars, teenage parenting advice online, and videos are all great ways to learn financial education. Also you will get a high quality financial education if you aren’t to shy to ask successful investors to give you financial advice. Many people lack confidence in their decisions. This lack of confidence often stems from lack of knowledge on financial matters. When your managing money and kids it is important you know all you can and give yourself a practical financial education before making any financial decision and so you can pass this personal money management tips to your children.

Emotional spending
Advertising messages surround us and bombard us with urges to buy on emotion alone. Don’t get me wrong; I like my gadgets, but there is a limit. I believe that our consumer-based society makes it incredibly tough for those people who use shopping as entertainment and, worse, shop to get an emotional lift to boost their day. This is one reason that some people overspend – shopping is a drug to them and high credit card debt is a symptom, this can be even tougher when managing money and kids.

Even small purchases, bought without much thought, can add up to big debt problems. This is how college debt, credit card debt and student loan debt add up. And if this habit is supported by a credit card, the end will come soon. In my own life, it wasn’t charge cards that got me into credit trouble, but I know what it’s like to screw up your credit history. Word to the wise: don’t.

To avoid debt and by not falling prey to emotional spending, you need to learn how to create a budget, and practice living within it. If you are still living at home, now is the time to make a few mistakes and get your skills sharpened for the adult world. Keep your college debt to a minimum and enjoy life without a large credit card debt hanging over your head.

Faking the Appearance of Wealth
You will find as your life experiences increase that many people exude the illusion of wealth. They drive the nicest cars, have the latest fashions, live in plush homes, and appear to be doing well. Some of these people are as wealthy as they seem, but others are living way beyond their means (that is, in serious debt). They have nice homes, several cars, the latest toys, college debt and high credit card debt.

I have seen people driving a brand new BMW, new Range Rover, living in a million dollar condo at the beach, flat screen TVs in every room, eating nightly at nice restaurants, and taking first class trips around the world; however, they are one paycheck away from getting into dire financial problems. The debt that they are accruing now will haunt them for years.

Don’t get caught up in the credit card debt game and avoid faking the appearance of wealth. Live as comfortably as you can afford to, at this moment and time.

Financial education helps people avoid potential pitfalls (like debt) and regularly take inventory of their thoughts and actions to ensure they avoid negative consequences. Take this teenage parenting advice online and use it to help you in managing money and kids. People that lack a practical financial education consistently find themselves caught up in “debt traps” and are left struggling to get out.

All the best! Vince Shorb

Many of the decisions we make about money we learn from our environment. Public high schools don’t teach ‘money’ so most of us learned about money form the school of hard knocks. Some parents try to teach their children about money but after talking to over 20,000 about their personal financial situation I can tell you most people lack the basic financial education needed to teach their children properly.

Many of us – myself included for many years - fall into the same common traps. The most common money traps include overspending, lack of retirement planning, poor credit decisions, no or poor investment decision making ability, and most importantly they have negative mental associations to money. People’s core attitudes come into play, making some of these traps more dangerous for you than others.

After personally diagnosing the financial health of over 10,000 clients over the years, I have found some common “money traps” people find themselves in. Many of these potential pitfalls are caused by their own thoughts and actions. Be wary of these money traps—they are inherent in day-to-day life!

Young adults today not only need a practical dollars and cents financial education but a ‘mental financial education’. All the experts agree yet for some reason the mental financial education component is forgotten. In the next two postings I will address the main reasons why a ‘mental financial education’ training needs to be taught to all high school and college age youth now more than ever

Greed
We’ve all experienced this – greed. Being consumed with money, obtaining money or material possessions at any cost, are symptoms of greed. It’s great to work hard to obtain the things and lifestyle you want, but it becomes unhealthy when you cross the line into greed. A mental financial education would help young adults recognize this feeling before they make a pooor investment decision.

Fear of loss
Most of us get really nervous if there is a chance that we may lose money. We feel the loss of $100 more intensely than if we got a windfall of the same amount. The fear of loss has a negative effect on our decision-making ability. We become focused on not losing money instead of staying on course with our financial goals. In later chapters you will learn that it also affects our decision-making for investments. I have been able to help people out of major credit card debt however they get frozen by fear and make poor decisions. Many people don’t make tough decisions that may cause short term loss but would help them achieve long term gains in the long run.

Word games
It’s all in how I pose the question… At this stage of your life, you probably have some amount money coming in; you may work, or still receive an allowance from your parents to get by. So you have income and you have to live within that. (At least that is what you will learn from this book!) Now, if I asked you if you could save 20% of your income, what would you say? What if I asked if you could live on 80% of your income?

If you are like most people, you quickly said “no” to the first, but answered “yes” to the second. Isn’t it all the same? The lesson here is to be aware of how a positive or negative presentation of the same situation can sway your thinking.

These are just a few money traps people get into please post some of your own and I will be adding to this list shortly.

All the best! Vince Shorb

In this first blog post it is important we help to develop a healthy relationship with money. Whether your a young adult just starting out or a parent teaching children about money. To do so we need to understand how money fits in with our lives.

In today’s society, money plays an important role in our lives. Unless your one of the few that lives off the land, barters and have the ability to build your own home, chances are you need money.

You can’t buy happiness with money and I’m sure you’ve heard “money isn’t everything”. However, having enough money can certainly lead to an easier life without bills piling up, thus adding to your financial freedom and financial security.

Financial freedom gives you the freedom to do what you want, when you want. That gives you the ability to live a full, exciting life. Money = Time, freedom and lifestyle.

The financial security that money can bring also has benefits. A certain degree of money will make you feel “happier”. Once you’re able to afford basic needs like shelter, food and transportation you’ll likely find that acquiring a lot more money doesn’t guarantee that you’ll be a lot happier. But it can help.

True happiness, has more to do with your attitude to life than it does to do with the size of your bank balance. Money’s great, but remember, don’t let it rule you. The money’s inside your pocket, not the other way around.

You see, achieving financial freedom and financial security can play a role in how your feel about yourself, but it’s only one aspect of creating a better life. Also very important to happiness is having close, trusted family, friends, and acquaintances; being physically healthier; enjoying your profession; going with the flow; laughing; doing things you enjoy. Strive for a healthy balance, and the rest will follow naturally.

Use money to live a balanced life. Strive for financial freedom so you can enjoy the lifestyle that money brings. Strive for financial security so you and your loved ones needs are met. Both financial freedom and financial security will help you to take the focus of your needs and allow you to work for the greater good. Vince