Monetary Upswing During Economic Downturn

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Taken from FrshPulp.com (which I wrote)
An exclusive New Money lesson on saving money & making it work for you ... See theres a benefit to my 9-5

What’s my 1st step?
Your mattress can only hold so much funds, so first things first, open a checking and savings account. Why use a bank? Keeping your money in a bank is safe and convenient. They’re federally insured and take liability in case your funds are accessed illegally. A checking account will allow you to have the safety of the bank as well as access to your funds 24/7 through ATMs and online banking. Savings will be where your extra funds go to earn you interest.

How do I know which bank is best for me?
Any given day in NYC you can take a walk and see at least 15 different banks. I’m partial to one in particular but that’s just me. Most people choose based on proximity. Close to my house, job, whatever. You must dig a little deeper and these questions will help you decide:

  • Is there a minimum balance to avoid monthly fees? All banks require a minimum opening deposit. Most banks also require a minimum balance to avoid fees. Avoid balance requirements and instead choose an activity driven account such as direct deposit, debit card purchases or online bill pay. Remember we’re trying to save.
    • Are there ATM fees? The #1 fee paid by consumers to banks is the ATM fee. You must choose a bank that has accessible ATMs. Every bank charges fees for using another bank’s ATM, so find one that stands out.
      • Does the account pay interest? Obviously you’re going to want free money so this is self-explanatory. Interest is more important savings account wise because that’s the account we need to grow. Every bank has a rate sheet so compare one to another.
      • Is there overdraft protection? Overdrafting is the #1 issue consumers have with banks. It occurs when your purchases/withdrawals exceed your balance. This results in fees equaling hundreds of dollars. You must keep track of your balances. They will not do it for you.
      • Is online banking available? This is necessary to account for your money wherever you might be in the world. Online banking allows you to receive alerts (texts, email) on your account, as well transfer funds when the bank closes for the day. It’s easy, straight forward as well as FREE!

      Where do I go from here?
      The next step is to get your finances in order. Primarily, your monthly expenses. Your balances can not grow if you spend more than you make. That LV bag and those Prada shoes can wait. You must eliminate debt, such as credit card balances.

        1. Figure out necessities and eliminate luxury – Phone, food, rent are necessary. Excess parties and new shoes to add to a closet full of shoes. Unnecessary.
        2. Make a budget – Total your monthly bills and make payments on time. Figure out what your daily living expenses are and make changes accordingly.
        3. Leave your self a cushion – Pick a specific amount – $50 or $100 – treat it like a no-spend zone. That way a small mistake won’t leave you broke.
        4. Increase savings – Funnel extra funds into your savings account. Rainy days are always around the corner, so you must be prepared.
        5. Stick to it! – The #1 issue people have with saving is will power. With so many credit cards out there and all those sales dipping into savings is dangerous. “Oh, I can replace the funds on my next check.” Yeah, until you see that credit card bill. One tip: forget you have a savings account. Out of sight out of mind.

        There has to be a better way to make my money grow?
        Whether you’re looking to save money for an emergency, dream vacation, new house, or education, banks and other financial institutions have a variety of accounts to help you meet your financial goals. Basic savings accounts allow you the ability to put money towards a specific goal and access your money when needed. But the old adage comes in, “scared money don’t make money.” Risk is inevitable, so a little must be taken to reach your financial goals.

        Certificate of Deposit (CD’s) – A CD is an account where you’re provided a fixed rate of return over a specified amount of time. The risk here is that you can’t access these funds over that period. You must be willing to not touch these funds because a penalty will be enforced if the CD is broken.

        Investment – Nowadays the word invest strikes fear into the heart of even the savviest investor. The risk varies based on stocks, bonds, mutual funds or a portfolio that contains all the above. Fees can be assessed upfront, over time or not at all based on holding period. For the recession weary consumer, banks offer customized solutions which allow you to diversify while having your account professionally managed. You receive the guidance you need while investing efficiently.

        Future Planning
        Now that you finances are in order and you’re saving some money, you have to start thinking towards the future. Retirement seems far away, but if you don’t start now when it’s time to retire you will be searching for part-time employment to survive.

        Should you open a Roth IRA? A Traditional IRA? Or put a little money in both?
        Generally, a Traditional IRA can be beneficial if you’re eligible to make deductible contributions, and you expect your tax rate during retirement to be lower than it is today. On the other hand, a Roth IRA may be a wise choice if you expect your tax rate to be the same or higher during retirement. The answer really depends on your unique situation. So contact a Financial Adviser to help you choose an IRA that’s right for you.

        So what now?
        Get your account in order, set a budget, prepare for the future, and don’t do it now—DO IT RIGHT NOW. Fixing finances helps financially as well as mentally. So go get that peace of mind.

        True Haiti Relief

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        Ever since the earthquake in Haiti happened on January 12th 2010 I have seen the true goodness within everyone. From endless events to raise money, to corporations & celebrities donating their ill gotten gains to just regular people I encounter wishing upon me & my family their blessings. It just makes you feel good to know you are in so many peoples prayers.

        But that said I still feel bad for my people. To not knowing if those donated funds are going to get to people that most deserve them (lets be serious the Haitian government is not the most trustworthy, you think the politicians here are terrible...) to thinking even when they rebuild another disaster will come through and sweep us away again. They have suffered so much from multiple disastrous storms to a 7.0 quake right into a 6.0 & numerous aftershocks.

        With all that said comes a story that shows true leadership & an offer that can not be matched by any other country. Senegal's President Abdoulaye Wade called for Africa to make room for victims of Haiti's earthquake to restart their lives on the continent. Truer statements could never be said:

        "The repeated calamities that befall Haiti prompt me to propose a radical solution -- to take measures to create somewhere in Africa... the conditions for Haitians to return."

        "They did not choose to go to that island," (
        referring to the mass deportation of African slaves to Haiti, then a French colony, from the 16th century.)

        "It is our duty to recognise their right to come back to the land of their ancestors."


        This offer amazingly is not the 1st of its kind. Back in the 19th Century the African state of Liberia was created by freed U.S. slaves. In 1847, 25 years after the first successful colonisation, they proclaimed an independent Republic, which they named Liberia.

        I believe this offer should be taken seriously as well as moved along as a responsible measure. I have yet to visit the nation of Haiti but I feel very drawn to it & I cant help but feel that it may be cursed. Of all the nations in the Caribbean it seems to be hit with disaster after disaster & to have family there and know at any moment they ca all be washed away it puts a hole in your heart. I see the worry in my mothers face, I feel the pain in my friends hearts & something must be done.

        If standards aren't changed in Haiti, from government to construction to jobs to social divide, Haiti will be no more & all the donations & heartfelt offers like those from the Senegal President will all be for naught. Haiti is beloved by the my Haitian people but who will love us enough to truly help...

        All American Racism

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        So the other day I was forwarded an article from the Augusta Chronicle regarding a new basketball league that was to set up shop down south. It is known as the All-American Basketball Alliance & it intends to start its inaugural season in June and hopes Augusta will be one of 12 cities with a team.

        I said hmmm new basketball league coming after NBA dollars. Didn't we learn from the CBA & USBL? Well whatever, whats another league right? Well this one has a small twist... It is to be of rosters made up exclusively of WHITE Americans. Oddly enough it didn't have a warm welcome.

        Here is a few quotes from commissioner of the AABA, Don "Moose" Lewis (c'mon look his nickname)

        "The reasoning behind the league's roster restrictions is not racism"

        "There's nothing hatred about what we're doing, I don't hate anyone of color"


        "People of white, American-born citizenship are in the minority now. Here's a league for white players to play fundamental basketball, which they like."


        "We wants to emphasize fundamental basketball instead of 'street-ball' played by 'people of color' "

        "We need a local person ingrained into the community to make this successful"

        "The white game of basketball, which is essentially a fundamental game, works"

        I am gonna make this short and sweet, there is no other basis to this man starting this league other than racism, point blank. It can only come from hate to associate "streetball" with people of color. Does the NBA at times have players who shy away from fundamentals to go toward more flashy plays yes. In today's game there is a need for both styles. & the most successful NBA players have had a nice mix.

        For this man to say that White people are a minority is true but only sports wise but that's there fault. They haven't moved with the times as well as you could of just left us in Africa & we would of been good. No one wants to watch pure fundamental ball, that shit is boring plan & simple. You do not see Princeton University basketball with any shine on national television.

        Lastly he has no sense of basketball history. From John Havlicek, Bob Cousy, Pistol Pete Maravich & Larry Bird, these were some of the most flashy ball players ever & influenced the likes of Earvin "Magic" Johnson, Isaiah Thomas, Kobe Bryant & Lebron James. (definitely check the links for highlight reels)

        This type of news story needs to not even see the light of day in this day & age but alas this is what gets headlines. What do you think: Racist or a money making idea???

        Maximize The Effort

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        I will be collecting donations all weekend long to help out with the effort over in Haiti. This cause is dear to me because these are my people & I still have family over there that are unaccounted for.

        Thanks to good people over at my parent company JPMorgan Chase whatever I collect will be matched by this gracious company on top of the $1,000,000 they have already pledge to this cause.
        Check out American Red Cross:Corporate Giving so you can know that this is legit.

        Here is their official statement:
        On Jan. 12, 2010 Haiti was struck by a magnitude 7.0 earthquake. Hundreds of thousands of people were injured and displaced by this disaster. The need for aid is large and immediate. JPMorgan Chase has committed up to $1 million in disaster aid to address this calamity. JPMorgan Chase will match employee contributions to The American Red Cross and CARE up to a total of $250,000. Please give generously to help now.

        I am accessiible everyday if you wish to contribute & double your generosity. Any denomination is acceptable & appreciated. I will travel to collect. Get in touch with me:
        Email: robert_fortune@hotmail.com, strechman1@gmail.com, robert.x.fortune@chase.com
        Cell: 347.528.3088
        Twitter: @NewMoneyFortune

        You can also definitely deposit to my Paypal use email address : robert_fortune@hotmail.com

        Thanks in advance, wish the year started off differently but we cant change the past just affect the future.

        Haiti Relief Collborations In NYC

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        Taken from my homie Carrie Pink's blog ... Please take note she is doing something wonderful.

        HI EVERYONE!!!

        Ok Pretty World Inc has joined forces with students from SIX different schools and TWO other organizations to facilitate a major outreach in NYC to collect, pack, and ship Relief Items to Haiti as soon as possible.

        To dispel the rumors. Yes it is almost impossible to ship anything to Haiti right now as an INDIVIDUAL, so OF COURSE THE FIRST COURSE OF ACTION IS TO DONATE MONEY TO A REPUTABLE ORGANIZATION, Email me for a listing, Once you donate what we are doing is aggregating items together across all the participants and working to organize a mass pick up and ship to Haiti VIA The Bedford Haiti Association in Brooklyn who is working directly with THE RED CROSS, one of the few organizations allowed to export at this time.

        We will also be reaching out to AMERICACARES.ORG regarding their ability to SHIP.
        Additionally we have been in contact with Councilman Mathieu Eugene in Brooklyn and Manhattan Deputy Borough President Pierre-Louis for their political support of our efforts. Below is a list of approved AND NECESSARY items to ship.

        CLOTHING:
        Sneakers
        Socks
        Underwear - BRAND NEW (AND FEMININE HYGIENE PRODUCTS)
        Baby clothing - anything you have

        SHELTER:
        Sheets
        Blankets
        Towels
        Tents
        Tarps

        POWER:
        Candles
        Flashlights
        Flashlight Batteries - D Cell
        Matches/Lighters
        Lanterns + Lantern oil

        MEDICINE:
        Rubbing alcohol
        Hydrogen peroxide
        Iodine
        Bandages
        Gauze
        Aspirin
        Soap
        Baby diapers

        If you have items to give please contact Carie Pink or Mekaelia Davis. The Bedford Haitian Community Center has asked that items arrive packed in barrels already ready to ship to help expedite the process so if you only have a small amount of items please contact us so we can compile them with items from others.

        Additionally we will be accepting items Saturday January 16th at Columbia University, Uris Hall 1st Floor from 10am to 3pm, that's 116th and Broadway in Manhattan, during the Pretty World Inc Seminar
        Sunday January 17th some friends of mine from Hunter College will be driving around picking up donations throughout the city from people who want to give but cannot bring to Columbia on Saturday.
        Monday January 18th there will be a Disaster Relief Drop Off box at Hunter College, 3rd Floor, Thomas Hunter Building. Locations of the drop off stations at other schools will be released as the information becomes available.

        Please email or call me if you would like to help by giving donations, packing barrels, driving to help pick up items or would like to collaborate your efforts with ours!! There is power in numbers people!
        askcarriepink@gmail.com
        347-623-4964