Monetize Your Talents

By Michael Cadet

Working for a large institution may prove to be beneficial beyond the average Joe’s dream of playing for the Yankees but courage will propel you to explore the different ways you can monetize your gifts and talents.

First I would ask myself, what am I passion about? It could be writing, teaching, personal training, fashion, politics, sports etc. Passion is defined as a barely controllable emotion. So trust your gut and dare to let it grab hold of you and lead you to a place unknown and unfamiliar. It is there and only there where your true self will reveal itself to you. Shredding your self of fear will be your initial challenge.

Once you can determine something you’re passionate about take the time to fully explore whatever you’re interested in. Remember this is not a sprint this is marathon. Finding your passion and connecting with something you internally feel intimate with is deeper than simply making money. Finding that connection puts you on a path of purpose and destiny. It’s a special discovery so take the time to nurture it.

I wouldn’t suggest quitting your day job because realistically we all need money to survive everyday living. Enthusiasm and practicality is a concoction that will yield you more success than heartache. Remember it takes work to achieve anything in life. You aren’t entitled to anything but an environment to share your talents and skills with the world in hopes they will buy.

Cultivating your talent will only take you far beyond your peers and competitors. You aren’t the only writer nor the first person who decided to pick up a wrench and do something with it. It’s imperative that you continue to sharpen and enhance your skills regardless of how successful you become. That’s why professional athletes still practice even though their one out of a million likelihood to become a professional athlete came true.

There will be obstacles and there will be set backs. Instead of throwing in towel and looking for a shoulder to cry on take your pitfalls as an opportunity to reflect and analyze your shortcomings. These are lessons you learn from to perfect your talent. What the end buyer will buy will be a product of refined mistakes and obstacles over come. That’s what winners do. We never give up no matter the cost. So don’t complain, don’t beat your self up, just make your next move the best move.


Opening a Savings Account with a Boyfriend or Girlfriend

By Michael Cadet

When considering opening a joint savings account with your girlfriend or boyfriend your best ally is common sense. You don’t want to put yourself into a situation you will possibly regret. This can be a great experience if you properly assess every angle.

The first question I would ask myself, is this the right person to open an account with?  Consider the amount of time you have been with this person. Do they show signs of mental stability? You may chuckle at the question, but seriously, do you want to tie your money up with someone who is Happy Harry on Monday then Wallowing Willy on Wednesday? I think not. If your relationship is already on shaky grounds then opening an account and combining your hard-earned assets may not be the best idea.

So let’s assume you are in a serious and stable relationship and you’re ready for the next step – which doesn’t have to mean marriage or even living together. Talk about what you each want in the future. After eliminating the new pink puppy and the new Harley, clearly define what goals the two of you have in common. If a new Harley is what you desire – more power to you.  But we’ll talk about buying toys at a later date. Just for the sake of this post let’s assume you both want to save for a down payment on a new house.

Now that you’ve both decided to save for a down payment on a home, determine how much it will cost. Once you have a realistic goal in mind, determine how much you both currently have to kick-start your savings. This will indicate how much more you need to save. Next, determine how much you both make. Now, this is important. When introducing a new goal into your budget make sure it doesn’t negatively impact your current monthly obligations. If after calculating your budget you find that you don’t have enough money for the laundry mat you can do 1 of 2 things. 1. Get a second job. Late night stocking shift at a grocery store works. Or 2. Realize your goals aren’t realistic at the moment and set a more attainable goal.

Selecting the right bank deserves some serious thought as well. There are two distinct types of banks you should be able to recognize: National/Regional banks and Local Community banks. Read more on the differences here.

The most important suggestion I will make is to open your account as a Joint “AND” account. This titling requires that both account holders be present when performing a transaction on the account. Pretty much the only thing you can do without the presence of the other account holder is put money in. This will eliminate any fear that if things turn south your significant other will run off with all your money.

A warning before you sign on the dotted line: consider the possibility that things may not work out. In that instance, the best thing to do is to collect and divide what you’ve contributed and move on with dignity. Regardless of how things end up in your relationship you will have a positive financial outcome. If things turn out for the worse, consider the return of your contributions as a severance package. A little money may help ease a broken heart.

Til next time, make your next move your best move!

Group Economics

By Michael Cadet

Group economics is the practice of buying goods and services within a specific group. For example, if I’m a farmer and I sell apples, my customers would theoretically consist of dentists, plumbers, retail shop owners, barbers and so on. The money the local retail shop owner spends with the apple farmer in theory should be reciprocated when the apple farmer needs to buy shaving cream at the local retail store. That’s good business. Communities essentially thrive on this practice.

The importance of group economics is to propel a group through an upward spiral of advancement. Progress. Economic power automatically equals political power. Economic power is created through education, spending dollars within your group, investing in real estate and the stock market (when market conditions provide an opportunity) and business ownership – this being the most important means of securing power.

In order to bring value to the marketplace, education and applied knowledge are the catalysts.  Applied being the operative word. Education should be advanced when a passion or curiosity arises. If you wake up with the smell of car oil under your nose, then you may have a calling for automotive services, which is a very profitable and sustainable industry. In order to create a demand for your service, you must first create value. Value is an emission, or in other words, it’s not just what you do, but how well you do it. Whether it’s changing someone’s oil, selling them merchandise, or processing a mortgage application, the quality of your service will determine the amount of business you receive over your competitor. All products and services of real value are embedded with specific ways of serving customers.

Keeping dollars within a group or area benefits the agenda of the principal group, so spending dollars within local communities provides an environment where economic advancement can thrive and lead to political power. Citizens of every community have needs. Whether it’s medical facilities or a park, these needs are only met through the circulation of money within a community and its citizens. When an outside institution with large resources infiltrates these communities, it essentially strips that community of its economic and political power. This is the reason spending dollars within your group or community is essential to its overall well being.

Investing in the stock market and real estate provides personal wealth and fortune. Personal wealth is the propellant that spins economic output: the more you have, the more you spend. Creating personal wealth depends on cultivating your own value. I cannot emphasize the importance of value enough. It’s responsible for attracting love, opportunity, and money.

Successful business ownership is the gateway to financial liberty. Experience from jobs pertaining to your field of interest can be achieved through internships and mediocre paying positions. Combining experience and value may act as an incentive to start your own venture. The entrepreneurial spirit is usually spawned when someone recognizes the opportunity to provide something the market isn’t supplying its customers. When deciding what type business to open, first do some soul searching to understand what will fulfill your life. Money doesn’t always equal happiness. Find what you’re passionate about and cultivate that curiosity into a valuable and sustainable skill you can provide to people.

Group economics has many moving parts: time, ingenuity, and an eagerness for independence. Goals steer the collective behavior of progressive people. Controlling resources such as how water is distributed to the local fire department is all dependent on you, the individual. Conditions of poverty and poor thinking can be combated and reversed. I challenge you to apply some effort and to not give up on your contribution to the world. Release your skills and talents so you and your community can reap the benefits. With that said, make your next move the best move!

National Banks vs. Community banks

By Michael Cadet

There are two distinct types of banks you should be able to recognize. You have National/Regional banks and you have local community banks.

National/Regional banks offer much more convenience. They typically offer many locations throughout the country and in some cases internationally. This makes it easier to handle transactions when traveling outside your usual proximity. In most cases they offer longer business hours and 24hr customer service operations. National/Regional banks have greater resources and more lending capabilities than smaller local banks, which is extremely beneficial for a person or business with larger lending needs.

I’ve heard, unfortunately, customers complain that larger banks don’t offer as personable service as smaller banks do, and are less flexible with their policies and procedures. Negotiations can also be more difficult when it comes to loan conditions.

The main appeal of community banks is their personable service. This is primarily due to the fact that they’re not publicly traded, meaning these banks don’t have to report their numbers to Wall Street executives. Wall Street is only concerned with one thing – making a profit. The absence of Wall Street pressure makes it possible for smaller local banks to focus more on serving their community. They’re also generally more flexible with policies and procedures.

The only draw back to smaller community banks is the inconvenience of having limited locations. Also, smaller banks may not have the resources to accommodate larger lending needs.

Everyone has different needs depending on circumstance and personal preference, so it’s important to familiarize yourself with the characteristics of the bank that will be serving you.

As always, make the next move the best move!