Personal Finance Tips

Exotic Car Hacks Review: How to Get Paid $1,000/Month to Drive a Lamborghini (Is It Legit?- Yes!)

8/26/2020

What if I told you that you could get paid to drive the car of your dreams?

Does that sound too good to be true? Well, what if I told you that you could drive a Lamborghini for less than it costs to lease a Honda Accord?

I was skeptical, but it turns out that both scenarios are completely possible, according to Pejman Ghadimi, founder of Exotic Car Hacks.

I first came across Mr. Ghadimi when I read his book, The Third Circle Theory. It’s an awesome book about entrepreneurship that has sold over 150,000 copies since 2013, making it one of the most successful self-published books of all time.

Because I was fascinated by his book, I did a little more research. I Googled “Pejman Ghadimi” and found Exotic Car Hacks, an educational platform that is designed to help people get into exotic cars without the oft-misconceived high costs.

Pejman has used the precise method he teaches in his courses to buy and sell over sixty personal luxury and exotic cars. He’s been involved in the automotive industry for years, working with wholesalers, brokers, dealers, etc. It’s safe to say that there is no one better to teach you how to do this. He even guarantees it. If end up getting the course and not liking it, he offers a 14-day money-back guarantee, which is nice. I’ve always believed that if you can’t guarantee your product or service, you shouldn’t offer it. I was definitely intrigued, but I wasn’t sure if paying $97 for the basic membership was worth it. It was his guarantee that pushed me over the edge.

I came across some of Exotic Car Hacks YouTube videos and watched a few. Here’s one that definitely got my attention….

I got my membership, which you can see below, and was definitely impressed. The course shows you exactly how you can drive exotic cars for free or at very little cost. I was blown away with the hours upon hours of awesome video content and in-depth private case studies.

How Does It Work?

One of the biggest things to understand with exotic cars is that their depreciation curve is different from normal cars. A “normal” car, like a Honda Civic or Toyota Camry will start off at market value and depreciate all the way down to zero. If you buy a brand new Honda Civic for $20,000, you will lose a nice chunk of change the minute you drive off the lot. It will continue to depreciate over the years because millions of Honda Civics are produced and when demand is for newer cars, the price of the older cars plummets.

I don’t want to give too much detail away (you have to buy the course for that), but when it comes to exotic cars, their depreciation curve is a little different. They still depreciate, but they don’t go all the way to zero. They tend to level off at around 30% of their value. For example, a brand new Lamborghini LP550 would’ve cost you about 230,000. After one year, that same car would be worth around $145,000.

You would’ve lost nearly $100,000 in one year because of depreciation. That’s a sucker’s move in my book. However, exotic car depreciation eventually hits a threshold. The idea is that around year four or five, the price of the Lamborghini will level off, and that’s when you want to strike.

How to Get a Good Deal

Car dealerships are in business to move inventory. If they aren’t moving cars in three months or less, they start feeling the pressure. The cool thing is that you can use this to your advantage. The dealership has to get the car off the lot as quickly as possible to maximize profit, but you don’t. You can buy the car at a discount and put it on the market immediately for a quick flip or hold out for a better price, enjoying your new vehicle all along.

The Exotic Car Hacks course is one of the best “insider” courses I’ve ever taken because it shows you exactly how to negotiate with car dealerships and the tactics they use to extract the most money out of you. That ALONE is worth the $97 to me. I know that my improved negotiating power will save me way more than $97 on my next car purchase.

Here are some things that will help you out the next time you step foot in a car dealership…

The dealership doesn’t make its money selling cars. You might be surprised to learn this, but car dealerships don’t make that much money selling cars. They actually make the bulk of their money in the finance department. They typically have a 1% markup on any financing you get, and they make an obscene amount of money selling you products like GAP insurance, service contracts, etc.
Demonstrate a sense of urgency and tell them that you’re shopping. You might think that demonstrating urgency is a bad thing, but you want the dealership to know that you’re a serious buyer. A lot of times people who “lowball” aren’t taken seriously. If you tell them that you’ve been looking at other cars and you want to come to an agreement, they will be more willing to cut you a deal. The worst thing for a dealership is to have you leave the lot. The minute you leave, the chance of them selling to you drastically decrease.
Don’t fall for any of the dealer B.S. Car salespeople will do whatever it takes to sell you a car. I don’t blame them – it’s their job. They’ll use pressure by telling you another buyer is coming later. They’ll use emotional pressure by saying things like, “If I sell you the car at that low of a price, I won’t be able to feed my kids.” Get real! Don’t fall for the crap.
Blame a third party (that’s absent) for a spending limit. If you are negotiating price and the dealer refuses to come down more, blame an absent third party. Let’s say you are at $95K and the dealer is at $105K. You would be willing to make a deal at $100K, but the dealer is refusing to budge. Tell the dealer something like: “Okay, I’ve got to come clean. My wife would KILL me if I bought at $105K because she actually set a spending limit of $100K. I’ve got to walk – thank you for your time.” As you get up to walk away, the dealer should come down.

Hold up! Did I just tell you to get a car loan for 84 months…. on a personal finance website? Yes, because when you use this system, you will want to leave your cash flow intact while you enjoy driving some of the nicest cars in the world. Besides, you will likely sell long before the 84 months is up anyway. It’s also very likely that you will actually get paid to drive the car, making the monthly payment darn near irrelevant.

If you don’t have great credit, the course also shows you exactly how to significantly boost your credit in 90 days. You can do it fast and you can do it without wasting time and money. As a personal finance blogger, I didn’t learn anything new in that section, but it’s good to include for the average person.

I finished the course in four days (I did one video segment per day) and feel more empowered than ever to get an exotic car. I’ve got my sights set on a Porsche 911.

If you want to take the course, I highly recommend it. It’s guaranteed for 14 days anyway, so if you think it sucks, just get your money back. You can get it here.

What luxury or exotic car would you like to drive? Let me know in the comments below!

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The Basics of Trying Your Hand at Online Trading

7/21/2020

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We live in an age where everything is online. Shopping is online, dating is online, social interaction is online, and for the last few years, many people have been trading online. From the initial impression people get of trading, it can be that it’s too complicated, but there are so many trading platforms around such as CMC markets who will not only execute trades for you, but will also give you tips and produce blogs to help you along the way.

So if you are thinking of online trading? Here are some tips for people who are either just dipping their toes in the water, or deciding whether to do it full-time.

Decide how much you can afford to lose

This may sound incredibly pessimistic, but to others this is just common sense. Ideally, you want to make money off your trades whether you are playing the fast turnaround or slow turnaround angle, but you need to cater for the eventuality that you may not be successful. Only invest what you can afford to lose, and then anything you do make will be a pleasant surprise.

Research what instruments you want to invest in

Do you fancy Forex or are you going to tinker with trading? You need to make sure that you do your research into what type of instrument you want to trade in. Things life Forex and CFD's can be confusing for first time traders. Straight trading in shares is probably the best entry into the market, unless you have knowledge of foreign exchange markets or CFD's that could be useful to you. Remember, if you are going to start online trading you are going to have to learn how to navigate the online trading platform, so confusing yourself with the actual investments will only frustrate you and set you back.

Do your research into online trading platforms

While there are plenty of websites and platforms that offer online trading as a stand alone business now, a lot of investment companies have also stepped up their game to compete and offer normal accounts alongside online trading. There are many things to consider when picking a platform. First and foremost, you need to make sure you can use your platform to even trade your chosen instrument. If you have your mind set on something like CFDs, shop around and find out who will give you the best rates and advantages.

It will also be worth looking at the various new customer offers. Online trading platforms are great for giving away a certain amount of free trades to entice people in, so while you are still figuring it all out, sign up for a couple and see how you can make the best of these.

Another aspect people massively overlook is the ability to see the platform and use it on a mobile or tablet device. When it really comes down to it, laptops and desktops are a dying breed when it comes to interaction online. If you sign up to a trading platform that you cannot access on the go, you are likely to miss out on important trades.

Learn how to automate

As much as we would love to, we cannot be glued to our phones or our tablets 24 hours a day. Your daily life is much more and important and you simply cannot monitor your investments 24/7. Near enough all good trading platforms will give you the ability to automatically buy or sell a trade when it hits a certain price.

When you setup your account with an app, they will email you notifications, so you can see what trades have been executed. Always make sure you have sufficient funds so that you can keep your trades up to date.

Enjoy it

Many online trading platforms have the ability to trade without real money just to have a 'practice'. Take advantage of this not only for the learning curve but also to find your own way around investments and how you can have fun. If you are doing this as a hobby, you do not want to get yourself too stressed about it, as it will cease to become enjoyable.

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10 Black Friday Shopping Tips - How to Get the Best Deals

11/15/2016

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Black Friday is the unofficial start of the holiday shopping season, and there’s no shortage of people looking to get the best deals. After stuffing themselves with turkey, people will stand in line for hours before stores open just to grab the bargain of the year.

These Black Friday shopping tips will make sure that you save money on Black Friday shopping and get the best deals.

1. Create a budget.

A 2012 Gallup poll found that the average American family spends $770 on Christmas related expenses – this includes food, décor, gifts, entertaining, etc. One of the best ways to save money on Black Friday is to have a predetermined dollar amount as part of your holiday budget. Create different categories for gifts, food, and so on and have a specific amount just for Black Friday. This ensures you know exactly what you’re allowed to spend.

2. Create a game plan.

You should at least have an idea of what you’re going to get when Black Friday shopping. Going in without a game plan will cause you to overspend on impulse purchases. Retailers often advertise doorbusters the week before. These are just to get you in the door so they can make money off you from the rest of their inventory.

Stay focused and get what you plan for in advance. Check the ads that are available prior to Thanksgiving and on Thanksgiving Day. You can also use deal roundup sites like Bfrads.com or BlackFriday.com to plan your shopping trip.

Finally, remember that higher-demand items like TVs may be limited (this is another common tactic used by retailers), so place them higher on your list. It makes sense to prioritize these limited items and go after them first to maximize your chances of actually getting them.

3. Check store policies in advance.

Make sure that you are well-versed on the store policies of the retailers you intend to visit, especially their stance on price matching. Price matching is the holy grail of money (and time) saving secrets on Black Friday. Some retailers will match a competitor’s advertised price, while others won’t.

Again, check the retailer’s advertisements. Most stores will include their matching policy somewhere on the ad. Walmart, Target, Staples, and Best Buy are among retailers that usually match prices, but be sure to check your particular location.
Here are the price-matching policies of a few prominent retailers:

Target: https://corporate.target.com/about/shopping-experience/shop-with-confidence
Amazon: https://www.amazon.com/gp/help/customer/display.html?nodeId=201133150
Walmart: http://help.walmart.com/app/answers/detail/a_id/31/~/walmarts-price-matching-policy
Staples: https://www.staples.com/sbd/content/help/using/general_match_popup.html

4. Do your homework.

Here’s one of the best Black Friday shopping tips I’ve ever gotten. Call and ask each store manager when the sales start, how early you can get in line, and where the products you want will likely be located. Make sure you ask this because Black Friday items are typically stocked in weird places. This is yet another ploy to get you exposed to more of the store’s inventory.

5. Skip the extended warranty.

Since retailers offer steep discounts on some items on Black Friday, they try to make their money by offering you extended warranties. These are almost never worth it. Plus, if you pay with a credit card, you likely get an additional year’s worth of coverage on top of the manufacturer’s warranty anyway.

6. Pay with a credit card to get rewards.

I don’t care what Dave Ramsey tells you – if you are a responsible adult, you can handle credit cards. If you followed the first step and set a budget, you should have money set aside anyway. Take that money and use it to pay off your credit card bill and collect rewards. If you spend $500 and get 5% cash back, that’s an extra $25 back in your pocket. It’s not life-changing, but it’s better to have it than not.

Of course, if you struggled to stay within budget last year or the year before that, you may want to make this a cash-only Black Friday. If you’re an irresponsible adult, no credit card for you. When you use cash, once your money is gone… it’s gone!

7. Always get a gift receipt.

I know you think that there’s no way in the world your sister-in-law would possibly return that toaster oven you got her, but still get a gift receipt and include it with the gift. That way the person can easily return anything he/she doesn’t want.
I tell you to always include the gift receipt with your gift because if you don’t, you put the person in an uncomfortable situation if they feel forced to ask for it.

8. Check the return policy.

Don’t assume that store return policies will be the same for Black Friday items. Some Black Friday promotions may have a shortened return policy. Other than that, understand the quirks of each individual retailer. For example, electronics at Target carry a 15% restocking fee, while returns on furniture at Macy’s must be scheduled within three days. Amazon gives you thirty days, while Apple only gives you 14 days. Knowing the difference between the two can save you hundreds of dollars when it comes to electronics purchases.

9. Stay safe.

Unfortunately, Black Friday and violence go hand-in-hand. I guess when shoppers just HAVE to get their hands on the last video-game console, they are willing to throw hands. I’ve heard different stories of people being trampled, shot, and pepper-sprayed.

Aside from keeping away from the violent crowds, here are a few Black Friday safety tips to make sure you have a pleasant experience:

Wait until asked by a cashier before taking out your credit card. An enterprising thief can shoulder surf and get your information.
Deter pickpockets by carrying your wallet inside a coat or in your front trouser pockets. This is also a good tip for sporting events, concerts, or any other event involving a large crowd.
Do not leave packages visible inside your car. Lock them in the trunk or take them directly home.
Shop with a single credit card – it’s much easier to cancel one card than several, if your card or wallet gets stolen.

10. Don’t forget about Cyber Monday.

If you want to stay home, that’s cool too. You can do your shopping online on Cyber Monday. It’s growing more and more popular – nearly $3 billion was spent on Cyber Monday 2015, and even more will likely be spent this year.

Plus, if a retailer stocked up on a particular item for Black Friday and it didn’t sell as well as expected, it could have an even bigger discount on Cyber Monday.

Personally, I’m not one for long lines and large crowds, so I will be spending Black Friday at home. But I will have my money ready for Cyber Monday.

Do you have any more Black Friday shopping tips? Let us know in the comments below!

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The 7 Best Law of Attraction Books You've Never Heard Of

10/20/2016

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My article The 5 Best Law of Attraction Books That Changed My Life got a lot of feedback. People wrote me saying that they read two, three, or all five of the books. A lot of readers already knew about the classics, such as The Secret, Ask and It Is Given, and Think and Grow Rich. They were curious to find out if I had any more law of attraction book recommendations up my sleeve, perhaps some that are a little more obscure.

Well, I do – I made a list of more of the best law of attraction books. We’ll get to that in a minute. First, I want to share with you a little bit about the law of attraction.

What is the law of attraction?

Simply put, the law of attraction is the idea that you attract into your life whatever you are focusing on. If you are focusing on the negativity, you will attract negativity into your life.

How does the law of attraction work? Is it real?

Here are my thoughts. The law of attraction does work, but not in the way popular culture now views it. Stuff like "The Secret", which is based on earlier works, such as Wallace D. Wattles’ The Science of Getting Rich, has morphed our culture’s view of the law. You cannot sit on your couch and just visualize money coming to you. Sadly, life doesn’t work that way. You have to contribute something of value to society. I want to break this down piece-by-piece.

People focus too much on the law of attraction and too little on the law of cause and effect, which states that for every effect, there is a cause. The law of attraction works in conjunction with the law of cause and effect, because if you can become the type of person that builds wealth, it will seemingly attract money to you.

Furthermore, you cannot get something for nothing. You must determine what you wish to attract out of life and determine the price to pay. You can look for people who have already done what you want (achieved the desired effect) and attempt to understand how they got there (evaluate the cause). The price to pay might be unwavering belief and persistence, sleepless nights, or even crippling your children’s independence by raising spoiled rich kids.

What really works can be summed up in the old wisdom of “you become what you think about” and “seek and ye shall find”, but it’s much easier said than done. Too many people don’t pay the proper price because they believe attracting what they want is a linear process. Imagine turning on an electromagnetic device – as soon as you flip a switch (in this case, visualization and affirmation), you attract what you want. It is not a “one and done” type deal. You must persist!

Another piece of wisdom that will help you understand the law of attraction is, “when you change the way you look at things, the things you look at change”. This is just like getting a new car – all of the sudden you see that model everywhere! If you want to attract money into your life, you must focus on money, and all of the sudden you will begin to see multiple opportunities to make money. THIS is where the magic happens, but you must take massive action.

“If someone hands you a million dollars, you better BECOME a millionaire, fast!” – Jim Rohn

What are some good law of attraction books?

If you didn’t get a chance to read my original post, go back and check it out. Here are some more books about the law of attraction that will help you expand your knowledge.

1. You Were Born Rich by Bob Proctor

I first read this book about two years ago and absolutely loved it. It was my introduction to Bob Proctor and since then I have read all of his books and have listened to a majority of his audio programs. His material tends to get repetitive, so if you could only read ONE of Bob’s books, I would suggest this one.

Bob Proctor was actually featured in “The Secret” movie, but he has been teaching this stuff for a long time. In You Were Born Rich, he explains that you should “love people and use money” – never the other way around. He points out that just reading the book will do nothing to help you achieve your goals. Only by applying what you learn will your journey lead you towards achievement.

My favorite chapter of this book is the last one, where Proctor talks about creating a “prosperity vacuum” by going through your closet and taking out everything you no longer wear. He suggests you give the items away. You have to give them away, not sell them, or you won’t reap the benefits. Once you give them away, you should fully expect to receive something better in return for your gift. I’ve done this in my own life and feel great whenever I donate my clothes. Check this book out – if you haven’t read any of the books on this list, I suggest you start with You Were Born Rich.

2. Dollars Want Me by Henry Harrison Brown

This book is way more obscure than Bob Proctor’s book, most likely because it’s much older. This very short book was originally published in 1905 but the message still resonates today. Henry Harrison Brown is one of New Thought’s founding fathers, and this particular book focuses on using affirmations to help you focus on financial success.

By constantly affirming to yourself, “dollars want me”, you will begin to see and create opportunities for money to come into your life. Henry Harrison Brown’s little book is a great reminder to affirm your goals, whatever they may be.

3. The Lazy Man’s Way to Riches by Joe Karbo

I just finished reading this book about a week ago and thought it was good enough to include on this list. Although I think this book sold fairly well in the seventies, I hadn’t heard of it until a month ago.

I should tell you up front that only the first half of the book is about the law of attraction. The second half is about marketing and direct mail, which is why I was reading it. I got it because I thought it was a marketing book and got surprised by the law of attraction material in the beginning.

The biggest theme in this book is Dyna/Psyc, which was coined by Karbo himself. He explains that Dyna/Psyc is the programmed study and practice of achieving success by the planned application of important but little understood natural laws. Karbo used these natural laws to achieve success in his own life. He says that Dyna/Psyc is a lot like electricity. Electricity has always existed, but until man learned how to make use of the already existing natural phenomenon, he had no electric lights to turn night into day.

4. The Game of Life and How to Play It by Florence Scovel Shinn

This book skews a little more on the religious side because it uses ideas from the Bible as supporting evidence for various laws. I really enjoyed reading this classic (it was published in 1925) and it was a fairly quick read. Here are a few of the core ideas from the book:

The Law of Expectancy. You get what you expect – whatever you feel deeply or clearly, is impressed upon your subconscious mind and carried out.
The Law of Karma. This is also known as the Law of Cause and Effect. It states that whatever you send out in word or deed will return to you. Whatever you give, you will receive.
The Law of Use. Shinn says that a gift is a better investment than a savings account because the money is put to use. She explains that hoarding and saving invariably lead to loss.

5. The Attractor Factor by Joe Vitale

Joe Vitale is a pretty cool guy. He’s done a lot of work over the years. Like Bob Proctor, he appeared in "The Secret" and has helped countless people make more money and find happiness. He is the world’s first “spiritual marketer” and has developed a unique “hypnotic” marketing system used to increase his clients’ sales.

While I haven’t read any of his marketing stuff, I did read Joe’s book The Attractor Factor: 5 Easy Steps for Creating Wealth (or Anything Else) from the Inside Out. This is a great book for beginners because it lays out the basics of the law of attraction in an easy-to-follow format.

One of the biggest takeaways from the book is that negative talking and thinking activate the “attractor factor” in a negative way. If you say “I don’t want these bills”, your focus is on the bills. Because you get what you focus on, your attention on the bills will bring you… more bills!

Here are the five steps explained in detail in the book:

Know what you DON’T want.
Select what you DO want.
Clear all negative or limiting beliefs.
Feel what it would be like to have, do, or be what you want.
Let go as you act on your intuitive impulses, and allow the results to manifest.

These five steps sound simple enough, but it is the execution that matters. Check out the book when you get a chance.

6. Law of Attraction by Michael J. Losier

Out of all the books on this list, Law of Attraction was the most fun for me to read. I got through it in an evening because I couldn’t put it down. It’s another short read and it gives an awesome 3-step formula for deliberate attraction.

Similar to Joe Vitale’s book, Law of Attraction says that you should identify exactly what you DON’T want. Losier calls this “contrast” and explains that the moment you identify something in your life that feels like contrast and you spend time complaining about it, talking about it, or declaring that you don’t want it, you are offering a negative vibration. The law of attraction responds to your negative vibration by giving you more of the same. Contrast is helpful because it allows you to become clearer about what you DO want by simply asking yourself “So, what do I want?” In Ask and It Is Given, Abraham Hicks calls this “pivoting”.

This book spells out exactly what you need to do and gives numerous fun examples. Here’s an example used to explain contrast:

Imagine you are riding along with your best friend who insists on messing with the radio. Your friend chooses a rock station, which you hate. Thus, you begin to feel stressed. After a few seconds of listening to the blaring music, you say “This is my car and I’m not listening to this music”. You reach over and change the dial to your favorite station. Instantly, you feel happier and more relaxed. Notice how you become clear about what you like by paying attention to what you don’t like? The contrast provides you with clarity.

This book is different from most law of attraction books because it’s not broad and theoretical. It answers the question “How do I actually DO this stuff?” Losier wrote the book in a how-to format, filled with exercises and tools that can help you practice the law of attraction in your own life.

7. Money and the Law of Attraction by Abraham Hicks (Esther and Jerry Hicks)

When most people hear the name Abraham Hicks (or Esther and Jerry Hicks) they think of the monumental best-seller Ask and It Is Given. That book is one of my all-time favorites, and it’s actually on my original list of law of attraction books. However, this list is reserved for books that are a little more obscure, and Money and the Law of Attraction fits the bill.

The title might make you think that this book is exclusively about money; this isn’t the case. The first part of the book goes into great detail about pivoting and the book of positive aspects (both of which I first encountered in Ask and It Is Given). The second part is where money comes into play. It encourages you to focus on the positive aspects (see a theme here?) and talks about how you should view yourself as a joyous creator.

The rest of the book is just as valuable, focusing on your health and career. It explains how to relax yourself into well-being and why diseases come and go. It tells you how to choose the right career for you and how to tell your new story of rewarding, fulfilling work.

If you have never read anything by Esther and Jerry Hicks, I would definitely start with Ask and It Is Given. If you still want to continue with your journey with Hicks, then read this book. I feel that it expands on a lot of the groundwork laid by Ask and It is Given.

If you’ve already read some or all of these law of attraction books, kudos to you! Be sure to write me your thoughts (personalfinancgenius@gmail.com) or leave a comment below.

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MileIQ Review: The Mileage Tracking App That Saves Me Hundreds in Taxes

8/8/2016

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Note: This post may contain affiliate ads. If you click on the links that take you to the MileIQ site (like this one), you should see a page that says, “You’ve been invited”. This is my invitation to you to try it, which will allow you to get 20% off your annual subscription.

About MileIQ & How It Works

MileIQ is a mileage tracking app that makes it incredibly easy to capture every mile you drive. It eliminates the headache of manually logging every trip you take by automatically detecting you drives and keeping track of them in an easy to use app. This ensures that you capture EVERY drive and leave no money on the table when it’s tax time.

One of the biggest expenses we’ll ever have is… you guessed it… taxes. There’s potential for most of our hard-earned dollars to go directly to Uncle Sam. There’s sales tax, income tax, estate tax, and a litany of other taxes that siphon our bank accounts. That’s why it’s important to take advantage of every tax break and deduction you can get your hands on. Enter: MileIQ.

MileIQ is an American-based company that has developed a mileage tracking and logging app that uses automatic mileage tracking to calculate your mileage. You can then categorize the miles as either personal or business related. You can also choose other custom categories such as medical or charity-related. Some miles are potential tax deductions with the IRS. MileIQ is the first mobile app to passively track mileage data, and it does a phenomenal job at it.

For example, in this picture, you can see exactly what the app looks like. It tracked a drive of 12.9 miles from “Redmond South” to “Home” – how you drive 13 miles in three minutes is beyond me, but hey, this is the screenshot they have. Anyway, the app calculates and logs everything for you, including the potential deduction. In this case, the 12.9 mile drive was worth $7.42.

I like MileIQ because it automatically calculates the value of your drives, and at 54 cents per mile, it adds up fast. And all the data is stored securely in the cloud. If your accountant (or the IRS) asks to see the data, you can access it in a flash. Plus, the MileIQ app runs in the background of your phone. You literally don’t have to do anything. You don’t have to open the app or turn anything on… just drive.

If you’d like to get started with MileIQ, they allow you to view, edit, and report 40 drives each month for free. After that, it’s only $5.99 per month. At the current mileage rate, you wouldn’t have to drive that many miles to make it worth your while.

Try MileIQ today!

Mileage Deduction Rates and Rules

For the purposes of this article, I will focus on business driving. Although you can deduct charity and medical drives, I have extensive experience with business driving and would like to focus on what I know.

If you drive for business purposes, the IRS will allow you to take a mileage deduction of 54 cents for every mile you drive (in 2016). If you’re planning to take a mileage deduction on your taxes, understand that you can only deduct trips that are for business. So what qualifies for a mileage deduction?

Travel Between Offices
If you’re driving from your office or work site to a second place of business, it is tax deductible. Let’s say that you’re a regional manager for a bank and you’re driving from Bank A to Bank B. This should be tax-deductible.

Errands/Supplies
Be sure to deduct any miles for business-related errands. This includes going to the bank, office supply store, and post office. The bank and post office are a source of some of my mileage, because I am frequently making deposits and picking up stamps for my direct-mail campaigns.

Business Meals and Entertainment
Are you taking clients or vendors out to dinner? Be sure to keep track of it. This also includes going out for drinks and other forms of entertainment.

Airport/Travel
This is pretty obvious – these are the miles you drive to and from the airport for a business trip.

Odd Jobs
If you’re driving to and from side-gigs like babysitting, lawn work, or pet care, you can deduct those miles as well.

Customer Visits
This is another big source of my personal miles, because in my line of business I am frequently driving to meet with customers and potential customers.

Temporary Job Sites
Driving from home to a temporary work location that lasts less than one year is also deductible.

Job Seeking
Most people are not taking advantage of this because they don’t know it’s deductible! If you’re looking for work, you may deduct the drives you take to find a job in your current occupation. However, you can’t take this deduction if you’re looking for a job in a new industry for the first time. I’m not sure why this is the rule, but it is.

I got 210 deductible miles in just one week in July!

My Experience

MileIQ currently has three different plans you can choose from:

Annual: $59.99 per year allows you to view, edit and report unlimited drives each month.

Monthly: $5.99 per month to view, edit and report unlimited drives each month.

Limited: Allows you to view, edit and report up to 40 drives each month for free.

I had the monthly plan for about a year and just recently switched over to the yearly plan to save a few bucks. One of their promises is to keep the app ad-free, which is kind of nice. Of course, they need the revenue from subscriptions in order to do this, but six bucks per month is an incredibly small price to pay to have your mileage automatically tracked and conveniently stored.

Has it been worth it to me? You bet. Here are the actual deductions MileIQ has tracked for me so far this year:

January - $0 (This is my fault, I didn’t categorize those drives. Shame on me)

February – $144

March – $138

April – $139

May – $224

June – $180

July – $274

In just six months (I’m not counting January), MileIQ has logged $1,099 in deductions for me. For the sake of easy math, let’s double that and assume that over the course of the year, I’ll have $2,198 in deductible mileage.

This means MileIQ will get me a $2,000 tax deduction this year.

How much does this actually save me? Again, for the sake of easy math, let’s use the baseline that the average American pays 20% of his/her income in federal taxes. 20% of $2,000 is $400.

I paid $59.99 per year for MileIQ to save me over $400 in taxes. Not bad.

You don’t even have to pay for it if you’re doing less than 40 drives per month, but even if you do more than 40, it’s pretty easy to justify the cost. Besides, if you’re using MileIQ for your business, MileIQ itself may be deductible too.
Note: My deduction is actually on the low side. Most MileIQ users get an average deduction of more than $6,900 per year. It doesn’t just save you money, though. It also saves a lot of time. I can’t imagine how much time I would be wasting logging my miles, but MileIQ says that the average user saves two hours every month. Would you pay $5.99 for two extra hours? Easy choice.

Final Thoughts

As a business owner, I love MileIQ because it is constantly working for me. It logs my miles so all I have to do is go back and categorize them as personal or business-related. At the end of the year, I add all the miles up and take the deduction.

I hope you enjoyed my MileIQ app review and I hope you give it a shot. You get 40 drives per month for free anyway, but $5 per month is nothing for this service. Do the math and start saving!

Sign up for MileIQ today! By signing up through Personal Finance Genius, you can get 20% off your annual subscription.

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6 Thought-Provoking Bible Verses About Money

7/31/2016

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This site isn’t geared towards any particular religion, but there are several thought-provoking Bible verses about money, greed, finances, prosperity, and happiness. I think it’s important to study religious texts (and not just the Bible) because they have the ability to completely transform our thinking and our way of life.

I am not a theologian, nor do I claim to be an expert on any religious texts. But I do like to explore these important books and pick up nuggets of wisdom that can help me in my life. With that being said, here are some Bible verses about money that might help you change your financial life.

Proverbs 22:7
Just as the rich rule the poor, so the borrower is servant to the lender.

This is the foundation of a lot of Christian financial literacy classes because they preach the importance of remaining debt-free. I’m of the opinion that there is a pretty clear difference between “good debt” and “bad debt”, although many people would beg to differ.

“Good debt” is debt that is leveraged to make you more money, such as a mortgage on an investment property. “Bad debt” is consumption debt; the type that is loaded up on credit cards to getting the hottest electronics and fashion. With “bad debt”, you truly are servant to the lender because you have to somehow repay your promises. With “good debt”, I think the line gets blurred. Your are a servant in the fact that you have to find tenants, but once you find tenants, they are servant to you.

1 Timothy 6:10
“For the love of money is a root of all kinds of evil. Some people, eager for money, have wandered from the faith and pierced themselves with many sorrows.”

This is probably the most misquoted Bible verse of all time. I can’t tell you how many times I’ve heard people proudly proclaim “money is the root of all evil”. However, the Bible doesn’t say that, does it? It says that the love of money is a root of all kinds of evil. It isn’t the root. People can be evil for other reasons besides love of money. Yet, when people try to gain riches through illicit means, they often destroy their lives.

Having millions of dollars doesn’t mean that you love money, nor does having $20 to your name make you a saint. People with money may use it to benefit the lives of others – is that evil?

Luke 12:15
“Then he said, ‘Beware! Guard against every kind of greed. Life is not measured by how much you own.”

I think this is so true – life really isn’t measured by how much you own. When you type the word “greed” into Google, you get this definition: “intense and selfish desire for something, especially wealth, power, or food”.

It’s important to highlight the word “selfish” in that particular definition. Wealth should be attained through service to others, not at the expense of others. If you are trying to get money at the expense of others, that is greed. Yet, I don’t think it’s inherently bad to want to own things, as long as you understand you can own them by rendering useful service to other people.

The Bible tells us that greed can never be satisfied and that greedy people will lie and steal to get what they want. They accumulate material goods under false pretenses, not by adding true value to the marketplace.

Proverbs 10:4
Lazy hands make for poverty, but diligent hands bring wealth.

For some reason, a lot of Christian people grow up having a limiting belief that poverty is virtuous. They think that if they’re poor, they’re somehow closer to God. When I found this particular Bible verse, I was elated, because it can help shatter that particular limiting belief.

If you’re even slightly interested in accumulating wealth, you must be diligent. Drifting into laziness brings poverty. Upon doing more research, I didn’t find any Bible verses that paint a picture of poverty being virtuous, but I did find several verses that said to be generous and kind to the poor. The only verse that came close was, “Blessed are you who are poor, for yours is the kingdom of God”, but when I really thought about it, aren’t we all blessed?

Luke 6:38
“Give and you will receive. Your gift will return to you in full – pressed down, shaken together to make room for more, running over, and poured into your lap. The amount you give will determine the amount you get back.”

All throughout my life I’ve heard motivational quotes like “you get what you give” but it was this particular Bible verse that really made it click for me. I’m starting to understand that you can give in more ways than just financially. You can give by inspiring people, teaching others, sending positive vibes, and speaking positive things.

Jim Rohn had an excellent piece of advice in one of his many audio programs – he said that if you ever think about tipping someone two different amounts, always go with the higher one. It will put you (and the person you tipped) in a better mood all day. I’ve been putting this advice into practice in my own life and it definitely feels like I have been receiving more. For example, I left over a $10 tip on a bill that was just around $10, making my total amount $20. It’s not a crazy generous amount, but it was a high tip, percentage-wise. Later that night, I found a $20 bill on the ground. Probably just a coincidence, I know, but it makes me wonder…

Proverbs 22:3
“The prudent see danger and take refuge, but the simple go on and suffer for it.”

To me, this verse is all about having an emergency fund. You must be able to “see” danger in the future and be prepared for it. If you’re “simple”, you will spend all your money and suffer for it. Make sure you are taking refuge by having at least six months of expenses socked away in a liquid account so you can easily access it.

Do you have any favorite Bible verses or personal finance advice from other religious texts? Let me know in the comments below!

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30+ Places That Offer Sweet Student Discounts

7/20/2016

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Let me get that 10% off!

Are you a college student looking for student discounts? College tuition isn’t cheap. Throw in nights with friends, groceries, toiletries, etc. and you can rack up quite a bill. Fortunately these places understand your pain and they’re willing to offer great student discounts. Save this list and check it whenever you’re looking to save some money.

Pro tip: keep your student ID on you at all times. Many of these places require you to show your student ID in order to receive the student discount.

Food

Chick-fil-A
Gives you a free small drink whenever you purchase a meal, so load up on those chicken sandwiches and waffle fries!

Arby’s
Gives you a 10% discount at certain locations. I wish I knew about this when I was in college – I love Arby’s.

Chipotle
Gives you a free small drink with your meal at select locations.

Buffalo Wild Wings
Gives you a 10% discount on your wings.

Subway
Also gives you a 10% discount. A 10% discount seems to be a common theme among these restaurants. It doesn’t sound like much but it really adds up.

Waffle House
Also gives you a 10% discount.

Papa John’s
Has discounts, but they vary based on location. I know the Papa John’s where I went to college (University of Delaware) had a lot of campus-specific promotions.

Domino’s
Like Papa John’s, has campus-specific promotions and discounts.

Dairy Queen
Usually gives a 10% discount, but not all locations do, so be sure to check.

McDonald’s
Gives a 10% discount at some locations.

Show your student ID to get 15% off at Kate Spade!

Clothing/Apparel

Goodwill
Typically gives college students a 10% discount, but be sure to check with your particular location. If you’re shopping at Goodwill, you’re already pretty thrifty, so an extra 10% off would be phenomenal.

J.Crew
Gives you a 15% discount. Nice!

Ann Taylor
Also gives you a 15% discount, but only off full-priced items.

Charlotte Russe
Gives you a 10% discount.

Banana Republic
Offers a 15% discount. I wish I knew about this one too.

Topshop
Offers 10% off for college students.

The Limited
Gives 15% off in stores.

Kate Spade
Gives you 15% off full-priced items in the store.

Steve Madden
Lets college students take 10% off full-priced items in the store.

Hmmm.... is this every college library in the country?

Tech

Apple
Gives students up to $200 off on a MacBook and up to $20 on an iPad. I can’t tell you how many people at my college used this discount. I think maybe 99% of the student population had MacBooks. It’s a pretty solid discount, so if you were even thinking about getting a MacBook, you might as well take the discount and do it.

RadioShack
Gives 10% off, but let’s be honest, RadioShack is going extinct anyway, so…

Microsoft
Offers a 10% student discount if you don’t want to be in the Apple family. (Don’t feel bad – I’m neither completely Apple nor Microsoft. I own an iPhone and iPad, but all of my computers are Microsoft.)

Sony
Gives college students up to 10% off on select items. This would come in handy if you’re getting speakers or something for your dorm. Just don’t do what I did – I had my suitemate visit my room nearly every night telling me to “turn the bass down”. Boy, was that fun.

Spotify
Gives students Spotify Premium for only $4.99 per month, which is half the normal price.

T-Mobile
Gives a student rate of 10% off the monthly bill and will even pay your early termination fee if you are stuck with a current provider.

Sprint
Gives college students 10-15% off their monthly bill. Be sure to request the discount, though.

Norton
Gives up to 50% off their products. Antivirus is a must-have if you’re living in dorms. I got a virus on my computer freshman year and it was a disaster.

Best Buy
Has a college student deals program that gives college students deals on electronics like laptops, tablets, and desktops.

Theaters

I went to so many movies in college. I would’ve saved a ton of money. Make sure you take advantage of these theater student discounts.

AMC Theatres
Offers special discounted tickets for students on Thursdays. Check with your location for the actual pricing, as that varies.

Cinemark
Offers discounted movie tickets that also vary by location.

Regal Theaters
Offers student discounts, but again, this varies by location. An easy way to check is to just enter your zip code on their site to see if your local theater offers a student discount.

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7 Power Habits of Super Successful People

7/19/2016

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You better get started. Which book are you going to read? I'd recommend my book, "Above Average Finance". :)

This post may contain affiliate links.

What are the habits of successful people?

If you’ve ever wondered what successful people do that’s different than everyone else, you’re in the right place. Learning about success habits is one of the first things one can do in order to become successful. After all, knowing the success habits is half the battle. Actually implementing them is the other half.

Here are some habits of highly successful people that can, if implemented, truly change your life.

They read. A lot.

Elon Musk (founder of Tesla and others) supposedly read at least four hours a day growing up. Warren Buffett reads about eight hours per day. Mark Cuban reads for three hours per day, and Bill Gates read for one hour before bed. You get the picture.

Books contain a wealth of knowledge and it’s incredible to think how many people never take advantage of their local library. Heck, you don’t even have to go to the library anymore. You can literally type a book title into Amazon, click the buy button, and have it delivered to your Kindle in less than two minutes. I can’t even get in my car to go to the library in less than two minutes. You have absolutely no excuse for not reading, even if it’s only for ten minutes per day.

Also on Personal Finance Genius:

After reading all those self-improvement books, it's time to catch some Z's.

They organize their knowledge.

On a superficial level, you might understand that successful people read a lot. Then, you might even take action, reading for an hour or two per day. As the weeks pass, you forget the quotes, insights, and valuable knowledge you just learned.

This is a big problem for people trying to accomplish their goals, because the chances of instantly implementing all the knowledge from a book are slim, especially if you’re reading as much as you should be. Imagine reading one of Dave Ramsey’s debt books. Are you going to get through all six baby steps in one day? Nope. How about three weeks? Not likely. You should have the information organized and contained for time-saving easy reference when you actually need it.

I personally highlight passages and take detailed notes. When I’m done, I put all the notes and highlights onto a few condensed pages and file them away for future use. When I want some help on advertising, I search for “advertising” in my notes. If I need help with real estate, I search for “real estate”. The point is that I already have all the notes organized and I know exactly where and how to find them when I need them.

They plan out their day the night before.

I can’t remember where I first heard this tip, but I’ve been doing it for quite some time. I never go to sleep unless I have a plan for the next day.

I noticed that it was almost always a struggle for me to get my days started because I would spend precious time thinking about what I needed to do, what I could be doing, etc. I don’t know about you, but my motivation is lowest right in the morning. It was a tremendous help for me to have a list on my desk, ready to go. There would be no questions and no confusion – just get started on the list. This way my time is maximized and I am super productive.

I feel like this is the most underrated productivity tip of all time. Everyone is searching for the next great app or browser extension. This is underrated because of its simplicity. It prevents you from getting derailed by all the little emergencies that pop up during your day. Instead of running around putting out fires all day long, you can circle back to your plan and get back on task.

Also on Personal Finance Genius:

9 Productivity Tips to Increase Productivity

They are concerned about their health.

Successful people have great health habits. They know that if they’re going to be productive, they have to keep their body in excellent condition. Think of it this way… if you had a million-dollar racehorse, would you feed it candy and junk food? Of course not! You would give it nothing but the healthiest foods and tons of exercise. Here’s the truth: you are your own million-dollar racehorse.

One of the things I’ve noticed (that I’m working on myself) is that successful people schedule their meals. They understand that sporadic snacking leads to inconsistent energy, which makes for inconsistent results. Successful people organize their meals in such a way that they avoid massive highs and lows. By putting consistent rhythms on their meals, they have less focus on hunger/thirst and more focus on the important things.

They also get enough sleep. It’s easy to get caught up in this “no sleep” culture that corporate America and young entrepreneurs put on a pedestal, but sleep matters. Successful people make it a habit to get quality sleep so they can rejuvenate. Besides, successful people realize that getting enough sleep helps them attain maximum performance. They know that it’s better to get eight hours of sleep and be more productive than only get six hours of sleep and be less productive.

On Instagram, EVERYONE drives a Rolls-Royce!

They know time is limited.

This goes hand-in-hand with personal productivity. Successful people understand that they need to get the most out of every minute in the day, whether it results in financial gain, better health, or stronger relationships. Maximal productivity is a must, because every wasted minute is a minute that one can never get back.

Like the late Muhammad Ali said: “Don’t count the days, make the days count.”

They keep up their momentum.

Inch by inch, anything’s a cinch as long as you keep going. I personally feel that it doesn’t matter how slow you’re going as long as you know where you want to end up. Don’t be a drifter. Have an end goal in mind and keep moving towards it. If you stop, you ruin your chances of ever getting there.

This applies to almost everything in life. If you want to enjoy fantastic health, you can’t just exercise one time. You have to keep doing it; you have to keep the momentum. It helps to work your goal-oriented activities in a way that they’re consistent with what you enjoy doing. This reduces the chance of losing momentum and giving up.

It’s also important to create a solid support system filled with people who push you to keep going towards whatever it is you want. It could be a partner, a family member, an online community, or a mentor. Just make sure that your support system will actually hold you accountable. Too many people confuse talking about their goals with actually taking action towards them. Don’t be one of those people.

They don’t compare themselves to others.

At some level, comparison can be a good thing, if you let certain people show you what NOT to do. But don’t stress yourself out by comparing yourself to those who are (at a particular point in time) seemingly miles ahead of you. You can’t work on other people – all you can do is work on yourself. Have faith in the process and have faith in yourself.

There will always be the temptation to compare your progress to other people. Every time you chat with a friend and every time you check in on social media, the temptation is there. “Look at how I’m doing” and “See what I just bought?” is all over the place.

Speaking of social media, let’s talk about Instagram. Five minutes on Instagram is enough to fall into the comparison trap. You see people eating delicious food, going to the beach, traveling, etc. It’s not a fair comparison! People don’t post photos of themselves when they’re doing mundane things. People don’t post about their insecurities, their boredom, their procrastination, or their arguments with others. If all you see is the great stuff, of course you’ll feel like crap. Don’t let your mind trick you into thinking social media is reality, because it isn’t.

Just remember that you have a particular set of gifts and circumstances that will allow you (and only you) to accomplish whatever it is YOU desire. You can’t exchange yourself with another human being, so don’t compare yourself to others. Instead of looking at other people, see the good stuff right in front of you.

They surround themselves with smarter people.

This habit is HUGE. It makes no sense for you to try to learn everything in the entire world. Find the people who are great at certain things and put them to use. If you need legal help, don’t try to read a legal dictionary or spend hours putting together a case – get a great attorney. Take advantage of other people’s skills, talents, and experiences. Likewise, it doesn’t make sense to make mistakes if someone else has already made those mistakes for you. Shorten your learning curve as much as possible.

Tai Lopez (someone who is pretty cool – I watch his YouTube videos every now and then) says that you should spend a third of your time with people are below your level, a third of your time with people who are on your level, and a third of your time with people who are beyond your level. This is a pretty good rule of thumb, but I think you should spend much more time with people who are smarter than you because it just makes so much sense.

Do you want to get in shape? Find out who is the absolute best at getting in shape and take advice from that person. Do you want to build a business? Don’t reinvent the wheel – find a business consultant or a mentor to help you.

I think it was Henry Ford who said: “I am not the smartest, but I surround myself with competent people.”

David Ogilvy (the father of modern advertising) is credited with this quote: “If you ever find a man who is better than you are – hire him. If necessary, pay him more than you would pay yourself.”

There’s also a cool story about Ogilvy that says he presented each of his board directors with a set of Russian dolls. The board directors opened the dolls until they found a note inside the smallest one. The note said, “If you always hire people who are smaller than you, we shall become a company of dwarfs. If, on the other hand, you always hire people who are bigger than you, we shall become a company of giants.”

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Motif Investing Review: Low-Cost Thematic Investing

7/15/2016

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Note: This page contains affiliate links. With that being said, I wholeheartedly endorse Motif Investing and think it's a cool concept. In fact, if you sign up today you can get up to $150 cash back. So take advantage of that offer.

Many people have emailed me asking me to review Motif Investing. The reason it’s taken a little while is because I decided to try it out for myself to give you my honest thoughts. I had been using Betterment but now Motif Investing is part of my portfolio.

Motif Investing was founded to be disruptor; it has revolutionized the finance industry by giving investors more say over what they invest in. They do it in a way that’s easy and low-cost.

In a nutshell, Motif is a low-cost brokerage that allows you to invest in groups of investments called “motifs”. Each motif has twenty to thirty stocks that follow a particular theme. This is pretty cool, because I used to do this on my own and pay per trade. Now I can get a group of high-yield dividend stocks and just pay one time. Here are some of the themes:

Lots of Likes on Facebook (never heard of this one until Motif)
Healthy and Tasty
Recession Resistant (might be a good idea to add this to your portfolio)
Biotech Breakthroughs
Utility Bills

Motif has one of the nicest stock screeners around because it allows you to search for motifs by using different criteria, including yearly returns, popularity, and even current events. You can find exactly what you’re looking for in an investment. The high-yield dividends motif is my favorite because it suits my personal investment style, which is based on a long-term view and cash flow.

You can also create your own fund. Just select up to thirty stocks or ETFs of whatever area you like and buy shares for the flat $9.95 rate.

Advantages of Motif Investing

Low Cost and No Hidden Fees

Once you decide what motif you want, you pay one flat fee of $9.95 per transaction. With Motif, there aren’t any management fees and no activity requirements. It’s really that simple. This puts a lot of investors at ease since they don’t have to worry about getting hit with some random fee.

If you choose to remove or change a certain stock in your motif, you can do It for $4.95 per trade or just pay a flat $9.95 for unlimited changes. In nearly all cases, it’s probably best to just pay the ten bucks and forget about it. That way you if anything changes, you won’t rack up a bunch of $4.95 charges.

Let’s say that instead of buying a motif, you decide to buy thirty stocks from E-Trade. I have nothing against E-Trade – I just like keeping my money rather than paying it to a brokerage. You would end up paying $299.70 (30 x $9.99 = $299.70). Hmmm… would you rather pay $9.95 or nearly $300? It’s an easy choice.

Easy to Get Started

The number-one thing that investors need to do to get on a fast track to retirement is just getting started. People see the high account minimums of other brokerages and put off investing for another month… or two… or seven. Because compound interest will allow you to exponentially grow your money, it’s critical to get started as soon as possible.

There is no deposit amount required to open an account with Motif Investing, but you’ll need to deposit $300 to make a trade. Compared with the multi-thousand dollar minimums of brokerages like Fidelity and Vanguard, this is great!

Motif will even give you $150 if you open an account today.

Tons of Features

To say that Motif has some nice features would be an understatement. Here are some of the features offered:

Flat Rate Pricing – I’ve already covered this; you pay $9.95 regardless of how many stocks/ETFs are in your Motif. If you want to break it down a little more, the cost per stock (with thirty stocks in a motif) is an ultra-low $0.33 per stock traded.
Available Accounts – they offer Individual, Joint, IRA, Roth IRA, Rollover IRA, and Trust accounts.
Single Stock Trades – if all you want is to buy and sell single stocks, Motif might not be your best choice. I would look into something like Robinhood, which is free. However, if you really want to trade single stocks, commissions are $4.95 per trade.
Tons of Ready-Made Motifs – there are over 9,000 pre-made motifs to choose from.
Trade Alerts – you can get notified of price changes in the motifs you own. This is nice, because it means you don’t have to check your investments every second of every day… not that you should anyway… wink, wink.
Horizon Motifs – these are just like target-date funds, which allow you to create a stock/bond ratio that matches your investment horizon.
IPO Stocks – with Motif, you have access to J.P. Morgan IPO stocks. I personally believe that most IPOs are bad investments, but if you see one you like and want to take a chance, you can do it.
Mobile App – you can use their app right from your Android, iPhone, or iPad.
Scheduled Transfers – you can make it so you automatically invest. My philosophy is to make investing as easy and as painless as possible so you have no excuse to get it done. You can set up recurring transfer for bi-weekly, monthly, quarterly, etc. Again, it’s “set it and forget it”.
Real-time Data – you get real-time access so you can see your investments, down to the fractional share (yes, they give you fractional shares too!) and penny.
Full Visibility – investors are becoming more caring, and that’s a good thing. People care about what they’re invested in. With traditional mutual funds and ETFs, your money could be supporting polluters and gun makers. With Motif, you can keep your investments consistent with your personal values.

Instant Diversification

If you have a specific niche you’re looking to invest in, Motif is the place to go. At the same time, having the ability to put up to 30 stocks of ETFs together is a great way to get instant diversification.

Note: You should be diversifying across industries and sectors. Having thirty different oil stocks is NOT diversification. If the oil industry gets hurt, your money will be wiped out. Diversification means having some utility stocks, some oil stocks, some tech stocks, etc. Putting all of your money into one industry or sector is the biggest mistake I can see one making with Motif. If you can truly diversify, you’ll be good.

Active Rebalancing

Rebalancing is one of the most important things you can do with your stock portfolio. It guarantees that you buy stocks when they are low and sell them when they’re high. Thank goodness Motif Investing is low-cost, because rebalancing can get ridiculously expensive with other brokers.

If you select one of the ready-made motifs, Motif actively monitors it for rebalancing needs. You can truly “set it and forget it”.

Disadvantages of Motif Investing

No Dividend Reinvestment

Motif Investing does not offer dividend reinvestment. As I mentioned before, the high-yield dividend motif is my favorite, but there’s no way to automatically reinvest the dividends. This may not be an issue for all investors, because some people prefer the cash.

Honestly, I wouldn’t be surprised if they added this feature in the near future because it’s something that many investors want. I prefer to automatically reinvest my dividends, but this isn’t a deal-breaker for me.

No Complex Orders
This isn’t a big disadvantage, but I figured I should point it out. If you’re looking to get involved in more complex investments such as options and futures, Motif Investing isn’t for you. But for the majority of people who are just looking for a cost-effective way to invest in stocks, it’s perfect.

Frequently Asked Questions

How do I get started?

Make an account, deposit your minimum balance, and select/create your motifs!

Is Motif SIPC insured?

Yes, Motif Investing is SIPC insured.

How does Motif make Money?

Motif makes money from the commissions charged on investment behaviors, such as buying/selling Motifs ($9.95) or buying/selling individual stocks ($4.95). They also have new Motif Premium services, which are $9.95 and $19.95.

How many people use Motif?

At the time of this writing, nearly 300,000 people use Motif.

Summary

I’m very impressed with Motif Investing and I will definitely be adding to my portfolio. I’ve used several broker platforms in the past and I rate Motif Investing very high. I’ve been missing out for several years and I’m late to the party, but it’s definitely a wonderful investing platform.
Motif Investing is especially good if you’re looking to invest in trends or a particular sector. The pricing is extremely competitive and tax efficient (if you don’t constantly trade the stocks, of course). It’s also cool how you can customize your motif so you aren’t limited to the pre-created ones.

I feel as if Betterment makes investing automatic and idiot-proof, while Motif gives the user a lot more control. Motif works for new investors as a primary trading method and experienced investors can use it for secondary trading. Used correctly, a Motif investor should be able to achieve better returns for less money.

Be sure to create your Motif Investing account today and get your $150!

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Swagbucks Review – Make Money Online With A Survey Site That Actually Pays You

7/13/2016

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Swagbucks is one of the easiest ways to make money online fast because it is a survey site that actually pays you.

Note: This post contains affiliate links. With that being said, Swagbucks is a survey site that I’ve actually used and recommend to friends who want to make extra cash.

Start earning money with Swagbucks today!

Is it Legit?

Swagbucks is an online rewards program where you earn “Swag Bucks” (known as SB) that can be turned into real gift cards from places like Walmart, Target, Amazon, Best Buy, and more.

If you’re concerned about it being legitimate, don’t worry. I had the same fear as you. Give personal information and consumer data to some site I don’t completely trust? No thanks. But Swagbucks has an A+ rating with the BBB (which is what reassured me) and they’ve been around since 2005.

It’s completely free to join, has over fifteen million members earning money, and has paid out over $137 million (at the time of this writing).

One SB is worth about one cent, but you can earn them fairly easily. While “free money” doesn’t really exist (there’s no such thing as a free lunch), Swagbucks comes pretty close. Here are the ways you can make SB.

Shop Through Their Site

Using Swagbucks as a shopping portal is a nice way to earn some extra cash back. They have stores like Nike, Best Buy, Amazon, and Hotels.com. If a particular store pays you 3 SB per dollar spent, it’s equal to 3% cash back on your purchase. When you combine a rewards credit card and an online discount code, you can save a significant amount of money.

Swagbucks does this because the retailers pay them a commission for people they refer and all they’re doing is passing on some of that referral fee to us. Let’s say you buy a new desktop from Best Buy for $1,000. Best Buy might pay Swagbucks 8% of that sale ($80) and Swagbucks will give you half (4%, or 4,000 SB).

If you’re doing some online shopping, at least do it through Swagbucks because it adds up. All you have to do is click the “Shop Now” link and do your shopping. After you make your purchases, the SB will be in your account within seven days.

Use Their Search Engine

When you first make your Swagbucks account, there will be an option to make Swagbucks your default search engine. I know it might be difficult for you to use anything other than Google, but it’s worth it. The Swagbucks search engine is powered by Yahoo, so you’ll see the same results as when you use a Yahoo search bar.

As I was writing this post, I typed “personal finance genius” into their search bar and earned a quick 20 SB. Twenty cents just for searching something? Not bad!

Please be aware that Swagbucks is incredibly sensitive to people who abuse the system, so please don’t sit around searching random items all day long. You will be met with a not-so-friendly warning.

Take Surveys (of course)

In my experience, this is the way to make the most money with Swagbucks. When I have taken their surveys, I have averaged about $9 per hour. It’s not much, but if I’m waiting around somewhere, I log in and knock out a few dollars. Hey, it pays for lunch!

There’s a ton of surveys that pay a couple hundred SB, which is a few dollars per survey. Most of the surveys pay between 50 and 200 SB. There’s a few that pay 300 SB and take about twenty minutes – that’s how I got to my $9 per hour figure. If you can complete the surveys faster than me (and I am somewhat slow), you can earn more money.

Watch Videos

I wish Swagbucks would let you watch videos all day, but they don’t. They limit your earnings to 150 per day, but I make sure I watch the videos and collect my 150. If you do just this, and nothing else, you’ll earn about $45 per month.

The video categories are: entertainment, pets & travel, home & garden, news, music, health, and food. All you have to do is click play and collect your money. It’s really that easy.

Play Games

In my honest opinion, this isn’t really worth your time. If you like playing online games, go ahead, but I don’t. I played their Deal or No Deal game and didn’t earn too much with it. Maybe I would earn more if I enjoyed playing casino-style games online. I don’t know enough to make more judgments, but that’s my take on the games part.

Print Grocery Store Coupons

This is pretty cool. Not only can you save money by using coupons themselves, but you earn SB for using them. You get 10 SB for every coupon you redeem at your local grocery store, so it’s like getting an extra ten cents off each coupon. If you’re someone who uses coupons, this is something for you to consider. I always see coupons for Dawn, Yoplait, Hawaiian Punch, and more.

Be aware that the coupons take a little time to process (10 to 12 weeks), but if you use them regularly, you won’t even notice the wait.

Refer Your Friends

You can earn 10% of your friend’s earnings. Need I say more? If you refer someone who will actively use Swagbucks, you can get quite a bit of money without doing any of the work.

How Much Money Can I Make With Swagbucks?

You might not become a millionaire using Swagbucks, but you can definitely earn $50-100 in gift cards every month by using them for a few minutes per day. At the bare minimum, you should be usng their search feature. It’s the most painless way to earn SB and you will slowly but surely be earning some rewards that you otherwise wouldn’t.

Swagbucks should NOT be a replacement for a more steady income, because you’d be hard-pressed to earn more than $10 or so per day. I personally think it’s a nice, easy way to earn a few extra dollars that can be used for gifts, dining out, etc. without touching my “real” money.

At the end of the day, Swagbucks is an easy way to make money online fast.

What are you waiting for? Sign up for Swagbucks today!

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